Nov 09, 2018 (China Knowledge) - During the Fifth World Internet Congress, more than 50 technology companies, such as China Internet Investment Fund, China Information and Communication Research Institute, Sequoia Capital, Alibaba, Tencent and Baidu, have jointly launched an initiative to establish China Digital Economy Investment and Financing Alliance.
In recent years, China's digital economy has developed rapidly, the digital industry has been growing, and the digital process of the industry has been accelerating. In 2017, the total scale of China's digital economy reached RMB 27.2 trillion, ranking second in the world, accounting for 32.9% of GDP. It has become an important engine to drive the development of national economy.
Wu Tienan, director of the Planning and Finance Bureau of the State Internet Information Office, said that the prosperity of the digital economy and the construction of a powerful network country can not be separated from the guidance and support of capital. He informed that last year, there were 6,000 investment and financing incidents in the field of Internet telecommunications, which are closely related to the digital economy of the country; and involvd a transaction amount of RMB 1 trillion.
It is understood that the China Digital Economy Investment and Finance Alliance will be guided by the national policy and aims at promoting the high-quality development of the country's digital economy. It will build a platform for communication and exchange between government’s digital economic enterprises and investment institutions. The alliance will also improve the efficiency of investment and financing in the field of digital economy.
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