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Beijing launches cities alliance to boost global digital economy ties

China

China

China

Beijing launches cities alliance to boost global digital economy ties

2025-07-03 19:35 Last Updated At:20:07

A global alliance of over 40 cities was launched in Beijing on Wednesday as part of efforts to enhance multilateral cooperation on the digital economy.

The Global Digital Economy Cities Alliance was initiated by Beijing -- alongside partner cities in Europe, North America, the Asia-Pacific, the Middle East and Latin America -- during the Global Digital Economy Conference 2025, which opened on the same day.

The alliance aims to institutionalize multilateral collaboration beyond bilateral projects, focusing on key issues such as digital infrastructure, cross-border data governance, AI ethics and smart city applications.

The move follows the launch of Beijing's Global Digital Economy Partner City Cooperation Initiative in 2023, and its joint efforts with partner cities to adopt six action plans to implement the initiative in 2024. The alliance was established this year with support from international bodies including the UN Institute for Training and Research, the International Telecommunication Union and the International Trade Centre.

Organized by the Beijing municipal government, the Cyberspace Administration of China, the National Data Administration, Xinhua News Agency and the United Nations Development Program, this year's conference will run through July 5 and feature an opening ceremony, six main forums and multiple thematic sessions, with over 1,000 participants in attendance.

The four-day event features over 40 professional forums on artificial intelligence, digital security, and digital medical services.

The conference has witnessed the start of multiple projects, including the inauguration of a sustainable digital economy innovation lab by the United Nations Development Program, a global city alliance headquartered in Beijing which focuses on enhancing the digital economy, and a personal training program aimed at boosting the global digital economy.

Interactive events are scheduled to allow participants to sample wearable devices, meta technologies, and AI-driven creative cultural programs.

Beijing launches cities alliance to boost global digital economy ties

Beijing launches cities alliance to boost global digital economy ties

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 20 pips to 7.0108 against the U.S. dollar Monday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Chinese yuan strengthens to 7.0108 against USD Monday

Chinese yuan strengthens to 7.0108 against USD Monday

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