The Chinese mainland is charting a bold course to transform its digital trade landscape with a comprehensive set of goals unveiled on Thursday. According to a guideline document released by the general offices of the Communist Party of China Central Committee and the State Council, the nation aims for digitally deliverable services to account for over 45% of its overall services trade by 2029 and surpass 50% by 2035.
By 2035, China envisions a well-organized, secure, and efficient digital trade governance system, marking significant advancements in institutional openness. The guidelines emphasize developing the trade of digital products and technologies, optimizing digital services trade, and fostering digital trade entities to ensure high-quality growth in the sector.
To achieve these objectives, the Chinese mainland plans to ease market access and attract foreign investment in the digital sector, particularly in telecommunications, internet, and culture industries. Additionally, the country will enhance the cross-border flow of data by building robust platforms that support the secure and efficient movement of information while safeguarding important data and personal information.
On the global stage, China is committed to actively participating in the formulation of international digital trade rules. This includes advancing initiatives related to the Digital Economy Partnership Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. The goal is to foster an open, fair, and non-discriminatory environment for digital development.
China's efforts are already yielding results, with the value of its digitally deliverable services imports and exports reaching a historic high of 1.42 trillion yuan ($197.5 billion) in the first half of 2024, marking a 3.7% year-on-year increase.
Reference(s):
China pursues reform and innovative development in digital trade
cgtn.com
