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SCO Digital Economy Forum highlights cooperation opportunities among member states

China

China

China

SCO Digital Economy Forum highlights cooperation opportunities among member states

2025-07-12 16:39 Last Updated At:17:17

The 2025 Shanghai Cooperation Organization (SCO) Digital Economy Forum, which opened in north China's Tianjin Municipality on Friday, highlighted the cooperation opportunities among SCO member states to push for a digital future jointly.

Themed "New Bonds in the Digital Economy, New Horizons for Cooperation," the forum drew over 1,500 attendees from governments, enterprises, universities, and think tanks of SCO member states.

They engaged in lively discussions on topics such as the digital transformation of industries, the application of digital technologies, and extracting value from data.

During a thematic forum focusing on digital-real integration, Liu Liehong, head of China's National Data Administration, emphasized the extensive cooperation among SCO member countries in areas such as digital infrastructure construction, e-commerce, digital payments, and big data applications.

Liu said that moving forward, SCO member states should leverage their respective strengths to drive cooperation in the digital economy to new heights.

"In June, relevant departments of the SCO released the China-SCO Digital Technology Toolkit, which includes over 50 digital public products to provide resource support for digital technology collaboration among member states. We will also release an action plan for the development of the digital economy among SCO member countries, empowering industrial transformation and upgrading and sharing digital dividends to build a more equitable, inclusive digital world," said Liu.

The forum also featured in-depth discussions on data governance, digital talent cultivation, and cooperation in digital infrastructure construction.

"The Internet backbone is one of the ways that connects the optical fiber connections. One of our partnerships -- China -- we call China an investor. We will keep the networking and keep what's called the close connectivity," said Om Romny, secretary of state of Cambodia's Ministry of Education, Youth and Sport.

Sergei Kanavsky, executive secretary of the SCO Business Council, emphasized the crucial role of talent cultivation in driving the digital economy.

"Today, we pay special attention to education and the training of personnel. So, in fact, there are very broad, very large opportunities for the application of the digital economy in any area of the economy," said Kanavsky.

Nurlan Yermekbayev, secretary-general of the SCO, hailed the significance of digital technologies in modern life and China's role in promoting the development of digital economy and artificial intelligence.

"Digital development and the digital economy have now penetrated every sphere of human and social activities. They enhance labor productivity, promote individual well-being, and provide people with the necessary amenities. China's presidency of the SCO has injected new impetus into the realms of digital development and artificial intelligence," said Yermekbayev.

The forum serves as part of the preparations for the upcoming SCO Summit in China this autumn, showcasing the digital economy achievements of member states.

SCO Digital Economy Forum highlights cooperation opportunities among member states

SCO Digital Economy Forum highlights cooperation opportunities among member states

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.

China's aggregate social financing maintains high growth in 2025

China's aggregate social financing maintains high growth in 2025

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