The Significance of Digital Economy to China's Economic and Social Development

For China, the digital economy has spawned a large number of Internet enterprises with great development potential, which has become the driving force to stimulate innovation and entrepreneurship. Digital economy is also an important leading force for countries to build new competitive advantages in the information age. In the process of world economic restructuring triggered by the information revolution, the development of digital economy will play a vital role. Sharing economic models such as crowdsourcing, crowdsourcing, public support and crowdfunding are important components of the digital economy.

As an economic concept, the digital economy is an economic form in which human beings can guide and realize the rapid optimal allocation and regeneration of resources and high-quality economic development by identifying, selecting, filtering, storing and using big data (digital knowledge and information). As a broad concept, digital economy can include any economic form that directly or indirectly uses data to guide resources to play a role and promote the development of productive forces. At the technical level, it includes emerging technologies such as big data, cloud computing, Internet of Things, blockchain, artificial intelligence and 5G communication. At the application level, "new retail" and "new manufacturing" are typical representatives.

Digital economy is the main economic form after agricultural economy and industrial economy. It is a new economic form with data resources as the key element, modern information network as the main carrier, and information and communication technology integration and digital transformation of all factors as the important driving forces to promote fairness and efficiency. With its rapid development, wide radiation range and deep influence, the digital economy is promoting profound changes in production methods, lifestyles and governance methods, and has become a key force in reorganizing global factor resources, reshaping the global economic pattern and changing the global competition pattern.