China's digital economy reaches 31.3 trillion yuan in 2018 (7)

A giant screen displays sales at just two minutes and five seconds on Alibaba's online marketplace Tmall for Singles' Day shopping spree in Shanghai, east China, Nov. 11, 2018. China's digital economy reached 31.3 trillion yuan (4.6 trillion U.S. dollars) in 2018, accounting for 34.8 percent of the country's total GDP, according to a report released by the Cyberspace Administration of China on Monday. Unveiled at the ongoing 2nd Digital China Summit in southeastern China's city of Fuzhou, the report shows that the country's innovation system was continuously improved, as the outstanding loans of China's enterprises on science and technology stood at 3.53 trillion yuan at the end of last year. Digital economy has fostered and strengthened the country's new drivers of development, with 31.63 trillion yuan of e-commerce trade volume and over 9 trillion yuan of online retail sales last year, as well as more than 600 million users of online payment, according to the report. (Xinhua/Huang Zongzhi)