Chinese economists see it this way: in ten years, the digital economy will penetrate all colleges | economics | digital economy
Recently, at the Summer Davos Forum held in Tianjin, Zhu Min, Vice Chairman of the China Center for International Economic Exchange, stated that in ten years, the digital economy will penetrate everything.
The Digital China Development Report released by the State Internet Information Office shows that by the end of last year, the scale of China's digital economy had accounted for 40% of GDP.
What do economists in related fields in China think of the world belonging to the digital economy in the next decade?
"On a macro level, digital technology is increasingly being applied in macroeconomic operation monitoring, decision-making management, policy evaluation, and other aspects, helping to break data silos, promote data concentration and sharing, enhance data correlation analysis, regulatory target matching, and policy simulation capabilities, making fiscal policies, monetary policies, and industrial policies more precise and effective." Yu Jianxing, Secretary of the Party Committee of Zhejiang University of Business and a national level talent, said at the first China Digital Economy Development Forum.
Guo Feng, Associate Professor at the School of Public Economics and Management at Shanghai University of Finance and Economics, believes that the development of the digital economy can help overcome geographical barriers, alleviate the impact of administrative segmentation, and significantly promote rural economic development.
Li Haijian, Secretary of the Party Committee of the Institute of Quantitative Economics and Technological Economics of the Chinese Academy of Social Sciences, pointed out that diminishing marginal costs and increasing marginal benefits have become the norm, and data has become a new type of production factor and begun to create value. This means that after entering the era of digital intelligence, the research paradigm of economic theory should also adapt to the trend.
Some economists have focused on some urgent practical issues in promoting the deep integration of the digital economy and the real economy.
Kou Zonglai, Vice Dean of the School of Economics at Fudan University, mentioned the "digital divide". He believes that cognitive differences in data acquisition and processing are non physical factors that cause the digital divide, while big data and supercomputing relax the constraints of bounded rationality.
Wen Jun, Vice Dean of the School of Economics and Finance at Xi'an Jiaotong University, stated that currently, there is a common problem in major economies where the digital economy continues to grow at a high speed, but productivity growth remains sluggish. The root cause lies in the mismatch of digital resources and the intensification of digital monopolies. Therefore, China needs to introduce relevant reform measures to eliminate the impact of "mismatched digital resources and intensified digital monopolies" as much as possible, and transform the development of the digital economy into productivity growth.
