China boosts integration of real and digital economies

China will support local regions in strengthening the deeper integration of the real economy with the digital economy and issue guidelines on the application scenarios of data elements to unleash their multiplier effect, nurturing new quality productive forces driven by data, according to the National Data Administration.

Luan Jie, spokesperson and deputy head of the NDA's policy and planning department, said that more than 10 provinces and municipalities have rolled out overall or specific work plans to implement the action plan concerning data elements, and introduced special supportive policies, such as fiscal funding and subsidies.

China has unveiled a three-year action plan to expand the application of data in 12 key fields, including manufacturing, modern agriculture, logistics and financial services.

Luan said local regions have intensified efforts to advance pilot projects and explore diversified paths for unlocking the value of data elements based on local conditions. For example, companies are leveraging internal data to reduce costs and improve efficiency.

Moreover, local regions have accelerated the in-depth integration of the real economy with the digital economy, utilizing their own resource endowments and maximizing the multiplier effect of data elements, she added.

For instance, Hebei province has capitalized on the agglomeration advantages of the steel industry, actively promoting the construction of large models to drive the high-quality development of the steel sector.

fanfeifei@chinadaily.com.cn