Home PoliticsASEAN Digital Silk Road

As a core area of the 21st Century Maritime Silk Road and a national pilot area for the digital economy, East China’s Fujian province is pushing forward digital transformation in advancing the Belt and Road Initiative (BRI), building itself into a key area for opening up and international cooperation in digital economy development.

According to a development plan released by the provincial government in March, the added economic value of Fujian’s digital economy will reach 2.6 trillion yuan ($398 billion) by 2022, with an annual growth rate of 15 percent, accounting for more than 50 percent of the province’s GDP.

Efforts will also be made to build Fujian into a model zone for the construction of a “Digital China,” a new hub for the development of digital economy, and a core area for Digital Silk Road construction, according to the development plan.

Fujian will accelerate its pace in setting up the innovation center for BRICS Partnership on the New Industrial Revolution in Xiamen, as well as deepen cooperation in policy coordination, talent training, and project development. New forms and modes of business involving digital trade, such as digital marketing and cross-border e-commerce, will be cultivated in Fujian. A number of important carriers and industrial clusters for digital trade will also be set up.

Official statistics show that Fujian’s trade with countries involved in the BRI increased 7.2 percent year-on-year to 488.19 billion yuan last year, while Digital Silk Road construction will drive the province to boost cooperation with economies participating in the BRI, according to Huang Maoxing, dean of Fujian Normal University’s Economics School.

Action will be taken to promote the construction of a “Silk Road Maritime” informatization platform to advance information and resource integration among ports, shipping enterprises, as well as logistics companies. Efforts will be made to increase the service level of integrated pilot zones for cross-border e-commerce, while cooperation in cross-border e-commerce between BRI countries and regions will be expanded, aiming to set up a core area for the development of Silk Road e-commerce.

Fujian has also set up digital education platforms in BRI countries and regions to deepen education cooperation. An integration center for the artificial intelligence (AI) industry and education was established in Nanping to carry out AI talent training, as well as exchange projects.

Authorities also said that the local government will support the integrated development of the digital economy between Fujian and Taiwan. Fujian will help Taiwan businesses better integrate into the mainland, while Taiwan companies will be encouraged to participate in construction projects related to digital economy.

You may also like


Your Trusted Source for Capital Markets & Related News

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.