CISCE: Sci-tech Forum Calls For Global Digital Upgrade

BEIJING, (APP - UrduPoint / Pakistan Point News - 30th Nov, 2023) As the globe leaps into the digital era, the scale of digital trade has experienced earthshaking growth in the past 20 years. WTO estimated that global digital service exports have grown at an average annual rate of 8.1 percent from 2005 to 2022. As the second-largest economy, China's digital economy reached RMB 50.2 trillion last year, ranking second in the world in total.

However, “although China has the most complete industrial system in the world, and the added value of its manufacturing industry has ranked first in the world for 13 consecutive years, accounting for nearly one-third of the global share, the digital transformation of our manufacturing industry is still in its infancy. In 2022, our penetration rate of the industrial digital economy has just reached 24 percent.

In the future, whether it is the upgrading of traditional industries or the development of emerging industries, there will be huge market demand for the integration of digital technology and the real economy,” Wang Cheng, Chief Operating Officer of TCL Technology Group Corporation, is looking forward to a leapfrog development of China’s digital industry at the Digital Technology Forum-New Technology and New Industry for New Life, of the China International Supply Chain Expo (CISCE) held on Nov 29.

Whether in China or around the world, digitalization is an irreversible trend. “In the context of multiple severe crises such as climate change and global epidemic that threaten human survival, digital technology could help us meet the challenges.

Through relevant research, we hope to produce targeted digital solutions so that developing countries around the world can participate in the global supply chain through scitech and enhance their ability to deal with risks,” Poul Hansen, Chief of Trade Facilitation Department, UNCTAD, appeal strongly.

“By now, the number of “Lighthouse Factories”, also known as "Industry 4.0 Demonstration Factories" in China, has accounted for more than one-third of the world’s total, and the Industrial internet has covered 45 major categories of the national economy and more than 80 percent of industrial categories. The widespread application of the digital economy has greatly facilitated the cost reduction and efficiency improvement of traditional industries and provided assistance for industrial upgrading.” Wang added.

More than a month ago, President Xi Jinping announced at the opening ceremony of the third “Belt and Road” International Cooperation Summit Forum that “China will hold a ‘Global Digital Trade Expo’ every year,” fully demonstrating China’s willingness to work with other countries to build an open world economy and promote Strong determination for global digital trade to prosper.

Other guests including Li Zixue, Chairman and Executive Director of ZTE Corporation, Chris Clark, Chairman, Asia Pacific of visa, Frank Meng, Chairman of Qualcomm China, and Ben Wong, Chief Marketing Officer of Google Greater China, also actively discussed the achievements, challenges and prospects of the global digital industry.