WHEN WORLD IS UNDER PANDEMIC, CHINA GOES DIGITAL.....

Beijing,oct13(IANS)  In recent times, new business like online retail, online education, video conferencing, telecommuting have emerged  rapidly in China.  During the corona epidemic this has not only led to normal life of the people, but has also ensured the generality of the society. The use of technology like Big Data, Artificial Intelligence, Internet of Things, Blockchain,etc. has led to the rapid development of digital economy in the country. Today, the digital economy's ratio in China's GDP is about 30 percent, and the growth rate of the digital economy is far more than the GDP growth rate. About 200 million people are engaged in the work related to the digital activitiies.

  Obviously an important role in the country's economy and has become the new fuel for economic growth and employment in the country.

However, China has a huge market and the number of netizens is the highest in the world.  China has a special superiority in the development of the digital economy.  Recently the Chinese Internet Association released an annual report of Internet development in China.  According to this, the number of netizens in China stood at 1 billion 319 million, e-commerce business was 348.1 trillion Chinese yuan and online payment amount was about 2498.8 trillion yuan.  The online payment rate in China ranks first in the world.

However, many foreigners living in China believe that online payment is very convenient in China, which has become an essential part of their lives.  QR code is available for payment at almost every small and big shops.  It can be scanned and paid.  People can travel in bus, metro, taxi etc. by paying from their mobile phones, or they can buy all the food and drink.  That is, by mobile payment, one can buy large furniture from a water bottle.

  See, the digital economy, including e-commerce and digital finance, has stabilized China's economy during the pandemic. More and more Chinese people will join the digital economy due to the creation of new types of basic installations such as 5G base stations, UHVs, high-speed railways, new energy vehicles, charging pipes, big data, Artificial Intelligence, industrial internet etc. It is believed that the digital economy will boost China's economic growth, as well as illuminate China's influence in the world.