China’s digital economy exceeds $5 TRILLION in 2019

A new report by the Chinese Academy of Cyberspace Studies showed the nation’s digital economy reached 35.8 trillion yuan ($5.45 trillion) last year, accounting for 36.2 percent of the country’s total GDP.

The report confirms that the Covid-19 pandemic has underscored the importance of the Internet, while the digital economy has become an important force in mitigating the impact of coronavirus, reshaping the economy and improving governance capabilities.

According to the research cited in the report, by the end of May China’s fiber-optic network had covered all urban and rural areas, with the number of fiber-optic subscribers accounting for 93.1 percent of the country’s fixed broadband users, the highest in the world.

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In 2019, there were 5.44 million 4G base stations in China, and the consumption of mobile-data traffic reached 122 billion GB, ranking first in the world. As of September 2020, China had built more than 480,000 5G base stations.

The country’s e-commerce transactions hit 34.81 trillion yuan ($5.2 trillion) last year, up 6.7 percent year-on-year.

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