China's total digital economic output is projected to reach 80 trillion yuan (around 11 trillion U.S. dollars) by 2030, according to data released by the China Academy of Information and Communications Technology (CAICT) on Tuesday.
The CAICT's projection is based on the national demand arising from the integration of the digital economy with the real economy, as well as improvements in total factor productivity.
"In the next three years, China's ICT (information and communications technology) sector will grow at an average annual rate of 8 percent. By the end of the 15th Five-Year Plan in 2030, our total digital economic output will reach 80 trillion yuan," said Wang Zhiqin, vice president of the China Academy of Information and Communications Technology.
According to Wang, the key benchmark of the development of new quality productive forces is the improvement of total factor productivity of the digital technology. The CAICT predicts that during the 15th Five-Year Plan period, the average contribution of digital technology's total factor productivity to economic growth will rise to 23.2 percent from 22.5 percent over the past four years.
China's digital economy to reach 80 trl yuan by 2030
