China’s rapidly growing digital trade sector is making significant strides, as the nation achieved a total foreign trade value in digital services of $371.08 billion in 2022, reflecting a 3.2% year-on-year increase.
These findings were revealed in a joint report by the Development Research Centre of the State Council and the China Academy of Information and Communications Technology (CAICT), as reported by People’s Daily Online.
Over recent years, there’s been a consistent uptick in China’s digital trade, reinforcing its pivotal role in the superior quality transformation of foreign trade.
Figures indicate a pronounced growth in the nation’s digital trade, amalgamating cross-border e-commerce and digital service trade. Its value shot up from 3.17 trillion yuan ($434.2 billion) in 2019 to 4.68 trillion yuan in 2022, marking an average annual escalation of 13.9%. The initial six months of this year also saw a 12.3% year-on-year increase in the import and export volumes of services that can be digitally delivered, touching 1.36 trillion yuan.
By WAM