Experts build consensus on digital economy cooperation and innovation in Geneva

China

Experts build consensus on digital economy cooperation and innovation in Geneva

2026-04-02 16:27 Last Updated At：17:07

A major forum on digital economy cooperation and innovation, part of the 2026 Global Digital Economy Conference, was held on Tuesday at the Palais des Nations in Geneva, seeking to build consensus on development pathways and international standards.

More than 150 representatives from government, business, academia and international organizations attended the event for in-depth discussions on frontier trends, international cooperation, and pathways for shared development in the digital economy.

"As a hub of global diplomacy and innovation, Geneva provides the backdrop for us to build consensus, launch digital cooperation, and jointly promote the development of the global digital economy, at a time marked by the establishment of the World Data Organization and with the 2026 Global Digital Economy Conference pending," said You Jing, director of the foreign exchange and cooperation division of the Beijing Economic and Information Bureau.

The Global Digital Economy Cities Alliance, known as DEC40, organized the event. With 40 cities as its core members, the DEC40 actively engages with international organizations, multinational corporations, research institutions, and other stakeholders.

During the forum, DEC40 announced the launch of its Geneva office and the addition of 11 Chinese and Swiss companies to its membership, among several other new developments.

"We hope to engage in the development of international standards through deeper exchanges in the future, contributing our share. At the same time, by understanding and communicating about these international standards, we can better apply them to our business, thereby supporting our international expansion," said He Chunming, vice president of Hollysys Technology Group Co., Ltd.

The initiation of a number of flagship programs were also announced by DEC40 in collaboration with international organizations such as the International Telecommunication Union, the International Trade Centre, and the United Nations Institute for Training and Research.

These programs include the joint release of global digital economy lighthouse cases and an international innovation competition focused on AI-generated content.

The forum also featured multiple discussion sessions on emerging trends and international cooperation frameworks in the digital economy.

Jointly initiated by Beijing and over 40 other cities worldwide in July 2025, DEC40 is dedicated to narrowing the global digital divide through technical innovation, transfer, co-creation and sharing, and contributing to the achievement of the UN 2030 Sustainable Development Goals.

The 2026 Global Digital Economy Conference is scheduled to take place in Beijing in early July, with a focus on building digitally friendly cities, alongside the latest outcomes in digital technology application and industrial development.

Oil shortage threatens global economy: Japanese expert

A Japanese energy expert has warned that ongoing oil supply shortages caused by escalating tensions in the Middle East could continue to drive up prices, intensify concerns over supply security, and ultimately drag down the world economy if the situation persists.

The ongoing conflict sparked by the attacks of the United States and Israel against Iran has tightened global energy supplies, prompting countries to take emergency measures. The Japanese government began releasing oil reserves on March 16.

In an Interview with China Central Television on Wednesday, Ken Koyama, chief economist at Japan's Institute of Energy Economics, warned that the uncertain situation in the Middle East could keep pushing up oil prices and worsen supply concerns.

"This crisis caused by attacks by the U.S. and Israel has already lasted a month. Although there are various reports about a ceasefire, the actual direction remains unclear. If this situation continues, not only will it push up oil prices for Japan and the world, but it will also intensify concerns about supply shortages, dragging down the global economy. The longer it lasts, the more serious the problem becomes," said Koyama.

Koyama noted that shipping disruptions in the Strait of Hormuz have nearly halted Middle Eastern exports of refined oil products, posing a severe challenge for Japan, which relies heavily on these imports.

"Crude oil can be transported via pipelines that bypass the Strait of Hormuz, but there are no such alternative routes for refined oil products. Exports of refined oil products from the Middle East have been almost completely interrupted. This presents a huge challenge for countries dependent on Middle Eastern oil products. About 40 percent of Japan's naphtha is imported directly from the Middle East, and the raw materials for naphtha produced domestically also rely on crude oil from the region. So, the overall impact is significant. If the crisis is prolonged, the effects will gradually expand, and the outlook is not optimistic," he said.