Digital Economy Sees a Shift to Real Economy

On August 16, 2022, the Institute of Journalism and Communication Studies under the Chinese Academy of Social Sciences and the Social Sciences Academic Press jointly released theBlue Book of New Media: Annual Report on the Development of New Media in China No.13 (2022).

The Blue Book indicates that digital economy is a global trend and China is a major digital economy. According to the White Paper on Global Digital Economy released in August 2021, the United States stayed on the position of the world's largest digital economy with the size of USD13.6 trillion in 2020, while China was the world's second with USD5.4 trillion. China’s digital economy has been dynamic, relying on industrial foundation, technical strengths and market vitality.

Accelerated integration of digital technology and real economy is a key focus for the development of digital economy. Digital technology will fuel the growth of real economy. On the one hand, digital technology changes the original productive forces and productive relations, offers technological resources and digital solutions to traditional enterprises, and brings about synchronous transformation and upgrading of hardware and software. On the other hand, China's real economy has the industry foundation in terms of products, staffing, organizations and markets, providing rich digital scenarios for digital technology and facilitating digital technology to constantly update to meet the real needs.