Prof. Huang Yiping: Maintaining Open Attitude for Developing Digital Economy

Mar 02-2023   

In China’s new journey to build a modern socialist country in all respects, the foremost task is to achieve high-quality growth, for which continuous innovation is one of the core driving forces, said Prof. Huang Yiping in the recent New Economy Think Tank Summit. He added that a linchpin for the new round of innovation-driven economic growth lies in an open attitude on all levels.

The summit, with the theme Third Wave of Real Economy Digitalization, was held by Ali Research. Prof. Huang said that China has enjoyed fast economic growth over the last several decades by learning the advanced technology and experience of other countries. To further increase productivity and economic efficiency, it needs to put new demands on innovation and the digital economy is becoming a crucial factor. As a developing country, China is among the leading countries in terms of the scale of digital economy and the number of innovative enterprises. He stressed that new technologies such as block chain, AI, and big data are creating enormous fresh space for economic activities.

To spur the digital economy, China should leverage external economic exchanges and open trade to enhance the capacity and efficiency of innovation, while at the same time assisting technology firms and private enterprises to overcome obstacles in their development. Viewed from macro-framework and macro-environment, an open stance should be upheld as the nation and its enterprises harness digital technology to support economic innovation, he said.