President Xi Jinping: In the face of blockchain innovation, China digital economy needs to be continuously strengthened

In the 34th collaborative study of the Politburo Standing Committee (PSC), officially the Standing Committee of the Central Political Bureau of the Communist Party of China, President Xi Jinping said that before the innovation of blockchain, the China digital economy needs to be continuously strengthened.

China grasps the trends and laws of the digital economy

On the afternoon of October 18, the Politburo Standing Committee (PSC) conducted the 34th collaborative study on promoting the healthy development of the digital economy in the country.


Xi Jinping, Chinese politician and government official who served as president of China from 2013

When chairing the study, President Xi Jinping, who is also General Secretary of the Central Committee of the Communist Party of China, emphasized that in recent years, the Internet, big data, cloud computing, artificial intelligence (AI), blockchain, and other technologies have driven innovation and are increasingly integrated into the entire process of economic and social development.

Therefore, China needs a new perspective on overall strategic coordination, digitizing the economy, and creating massive changes that have not been seen in a century. At the same time, it continuously strengthens and improves China’s digital economy.

Since the 18th National Congress of the Communist Party of China, the Party Central Committee has attached great importance to developing the digital economy, implementing the power network strategy and national big data strategy, expanding the cyber economy space. The country also continuously supports various innovations based on the Internet, big data, artificial intelligence (AI), etc. creating an internationally competitive digital industry cluster.

Furthermore, China’s digital economy is increasing and achieving remarkable results. Especially since the outbreak of the COVID-19 epidemic, digital technology, and the digital economy has played an important role in supporting the fight against the epidemic and restoring production and life.

Finally, the president emphasized that the digital economy is related to the overall development situation of the country. Therefore, it is necessary to do an excellent job of designing and building the top-level system to develop China’s digital economy, strengthen research and judgment of the situation, seize opportunities, and take the leading position.

Finally, it is necessary to improve the digital knowledge and skills of the entire population and society and strengthen the social foundation for the development of China’s digital economy.

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