Digital economy drives Chinese modernization

As the global economy undergoes profound transformations, the digital economy stands out as a game-changer. With its capacity for innovation, deep penetration and wide-reaching impact, the digital economy is not just reshaping industries but also altering the global competition landscape, and becoming the key driver of Chinese modernization.

Among the front-runners of this transformation is Guangdong province, a core engine of China's digital economy. In 2023, Guangdong's digital economy was worth an impressive 6.9 trillion yuan ($959.93 billion), securing its leading position in the country for the eighth consecutive year. Leveraging its strong manufacturing foundation and global platforms for open exchange, Guangdong is charting a path that not only fuels Chinese modernization but also sets an example of how the digital economy can empower industries at all levels.

One of Guangdong's most significant achievements is its ability to facilitate the integration of the digital economy with the real economy, forging a path toward high-quality, sustainable growth. The province is continually optimizing its industrial structure, not just by developing digital infrastructure but also by investing in the industries that depend on it. By October 2024, Guangdong had established 392,000 5G base stations, leading the country in the number of 5G users and industry virtual private networks. This vast digital infrastructure has laid the groundwork for everything, from industrial upgrading to smarter supply chains.