Emergingtech,industrialtransitiontoboostmodernization,competitiveedge

Emergingtechnologiessuchastheinternetofthingsandtheboomingdigitaleconomy,whereChinaisleading,willcreatenewgrowthdriversfortheworldamidachallengingglobalenvironment,expertsandentrepreneurshavesaid.

DespiteheadwindsfromgeopoliticalissuesandtheCOVID-19pandemic,theblossomingofcutting-edgetechnologies,suchasIoTandinnovationsinthedigitaleconomy,willinjectnewimpetustotheworldeconomy,saidHeXuming,chairmanoftheWorldInternetofThingsConventionexecutivecommittee.

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Thetotalnumberof5GbasestationsinChinawilllikelytop3millionthisyear,layingasolidfoundationforthedevelopmentofIoT,andtheGDPoftheemergingdigitaleconomywilllikelyexpandbyaround30percent,HesaidduringarecentmeetinginBeijingdubbedtheWorldIoTTop500Summit.

"Theworldiscurrentlytransitioningfromanindustrialtoadigitaleconomy,withthelatteraccountingforaroundhalfofglobalGDPandgrowingataround20percentannually,"saidHeQiang,vice-chairmanoftheWorldInternetofThingsConventionexecutivecommittee."Thisyear,thegrowthratemayhitover25percent,"hesaid.

HeQiangsaidIoT-supporteddigitalandsmartindustrieshavehugegrowthpotential,andarisingnumberofIoTproducts,systems,andplatformshavealreadycroppedup,coveringawiderangeoffieldsincludingindustry,agriculture,logistics,transportation,energyandsmartlives.

Duringthepastfewyears,Chinahasmadeconsiderableprogressinboostingthegrowthofthedigitaleconomy.

ThescaleofChina"sdigitaleconomyreached45.5trillionyuan($6.3trillion)in2021,secondintheworldandaccountingfor39.8percentofthecountry"sGDP,accordingtoawhitepaperreleasedbytheChinaAcademyofInformationandCommunicationsTechnology.

Earlierthisyear,thecountryissuedaguidelineontheconstructionofadigitalChina,whichwillserveasanimportantengineforboostingitsmodernizationdriveinthedigitaleraandprovidesolidsupportforthedevelopmentofanewcompetitiveedge.

By2035,Chinawillbeattheforefrontofdigitaldevelopmentglobally,anditsdigitalprogressincertainaspectsofeconomy,politics,culture,societyandecologywillbemorecoordinatedandsustained,accordingtotheplan.

HuangYing,vice-presidentofChinesetechheavyweightLenovoGroup,toldChinaDailythatChinahasbeenamongthetopsintermsofdigitalindustrializationandindustrialdigitalizationintheworld.

HuangsaiddigitaltechnologieslikeIoTandartificialintelligencewillboostconnectivityamongindustrialchainsandcompanies,helpingtoreducecosts,improveefficiencyandboostproductivity.

HuangsaidLenovowillcontinuouslyinvestinsmartanddigitaldevelopment,andwillcontinuetoshareitsexperiencesandprovidesolutionsforthedigitaltransformationofotherenterprises.

Healsoexpressedstrongconfidenceforbusinessinthesecondhalfoftheyear,giventherisingdemandfornewtechnologiesandservicesinfieldslikeAI.