(MENAFN) A report stated that the Chinese digital economy expanded to 39.2 trillion yuan (around USD6.07 trillion) last year, making up 38.6 percent of China’s whole GDP and a rise by 9.7 percent year-on-year.
The report on the progress of the internet in China was issued by the Chinese Academy of Cyberspace Studies at the World Internet Conference Wuzhen Summit, which kicked off on Sunday in Wuzhen, in east China's Zhejiang Province.
The report added that last year, the volume of e-commerce transactions logged in China hit about USD5,75 trillion, an increase by 4.5 percent from 2019, whereas the operating profit of the e-commerce service industry hit about USD843 billion, a rise of 21.9 percent year on year.
The digital economy has turned into a major option for nations across the globe searching for hedge against the effect of the coronavirus pandemic and to accelerate economic and social transformation, noted a report on global internet development concurrently issued on Sunday, further saying that fresh information infrastructure has steadily turned into a fresh driving force for global economic growth.
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