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China’s effort to facilitate faster, cheaper Internet stimulates digital economy: authority

By  Sun Wenyu (People's Daily Online)    15:41, July 26, 2017

China’s campaign to facilitate a faster and more affordable Internet connection for the nation has promoted continuous growth of the country’s digital economy, said Zhang Feng, spokesperson for the Ministry of Industry and Information Technology.

Zhang made the remarks at a press conference held by the State Council Information Office on Tuesday. He added that the campaign is of great significance.

According to a white paper issued by the China Academy of Information and Communications Technology, China's digital economy surged by 18.9 percent in 2016 to 22.6 trillion RMB (about $3.35 trillion).

The digital economy has become a core component of the country’s economic growth in recent years, accounting for 30.3% of China’s GDP, Zhang noted.

A faster and more affordable Internet connection has also enhanced the competitiveness of related Chinese enterprises. Zhang noted that the total market value of the country’s 89 listed internet companies has reached $7.4 trillion, increasing by 40% from the end of 2016.

The three largest Chinese internet companies by market cap are now among the world’s top 10 largest.

When asked about the specific work plan in the second half of the year, Zhang responded that the country will keep building high-speed broadband Internet connections and further expand coverage in rural areas.

Currently, 77.4% of China’s population is connected through fixed-line broadband, and the country will continue to popularize the service in the second half of the year.

In addition, Zhang said that China will keep lowering telecommunication prices, especially for international calls. And more customized products will be presented for industrial parks and innovative companies.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Hongyu, Bianji)

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