The second Global Digital Trade Expo (GDTE), themed \"Digital Trade Connecting the World,\" inaugurated on November 23 in Hangzhou, the capital of east China's Zhejiang Province. The event marks a significant milestone in promoting international cooperation and leveraging digital trade as a catalyst for global economic growth.
In his congratulatory letter to the Expo, Chinese President Xi Jinping emphasized the importance of harnessing the expo's platform to foster collaboration, transform digital trade into a new engine for inclusive development, and invigorate world economic momentum.
Digital trade has emerged as a pivotal element in the economic landscapes of nations worldwide. The advent of new digital technologies and innovative business models has permeated all facets of the economy and society, fundamentally reshaping traditional commercial practices and trade dynamics.
One of the primary advantages of digital trade is its ability to transcend the limitations of time and space through digital and networked means. This not only significantly reduces transaction costs and enhances efficiency but also expands market reach, promotes trade balance, and stimulates economic development. Spanning over 100,000 square meters, the Expo showcases the future of the digital trade industry by presenting innovative products and cutting-edge technologies. It is anticipated to unlock broader market opportunities for small and medium-sized enterprises and developing countries.
China's foray into digital trade began early, establishing a robust foundation with substantial potential. As the largest internet user market globally, China boasts approximately one billion netizens and an internet penetration rate of 75.6 percent, offering a vast market space and a data advantage that propels its digital trade capabilities.
Reference(s):
Digital Trade, a new engine for China's high-quality development
cgtn.com
