Industry News

China: More talks, participation key to digital economy

SHANGHAI: China will actively participate in digital economy-related negotiations with international organisations to improve the multilateral governance system and mechanism in this area, says a senior government official.


Li Fei, assistant minister at the Commerce Ministry, said China will further align itself with high-standard international economic and trade rules, and actively endeavour to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement.


The official made the remarks at a sub-forum of the fifth Hongqiao International Economic Forum during the ongoing fifth China International Import Expo, which wraps up in Shanghai on Thursday.


The sub-forum was hosted by the Commerce Ministry and Zhejiang’s provincial government.


The digital economy mainly entails business resulting from the digital transformation of traditional economic activities powered by the Internet, electronic means and data, according to information released by the Beijing-based Chinese Academy of International Trade and Economic Cooperation, the ministry’s think tank.


China will promote digital economy-related international cooperation, participate in activities under the World Trade Organisation’s eCommerce platform, safeguard and improve the multilateral management system of the digital economy, as well as make full use of the cooperation mechanism of G20, BRICS (grouping of Brazil, Russia, India, China and South Africa), the SCO (Shanghai Cooperation Organisation) and other multilateral institutions to contribute to the world’s digital economy and trade development, Li said. — China Daily/ANN.


Source: https://www.thestar.com.my/business/business-news/2022/11/09/china-more-talks-participation-key-to-digital-economy

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