Daily Times

The scale of China’s digital economy grew to 50.2 trillion yuan ($7.25 trillion) in 2022, with year-on-year nominal growth of 10.3 percent and ranking second globally, an industry report revealed. The share of the digital economy in the country’s GDP rose to 41.5 percent, according to the report on the development of China’s digital industry released at the ongoing 6th Digital China Summit. By the end of 2022, China had put 2.31 million 5G base stations into operation, and the number of 5G users in the country had reached 561 million, accounting for more than 60 percent of the world’s total, the report said. The 6th Digital China Summit opened on Thursday in the city of Fuzhou in East China’s Fujian province. The two-day summit focuses on showcasing the latest achievements of the Digital China initiative, and on sharing experience in digital development, China Daily reported. The summit is co-sponsored by the Cyberspace Administration of China, the National Development and Reform Commission, China’s Ministry of Science and Technology, the Ministry of Industry and Information Technology, the State-owned Assets Supervision and Administration Commission of the State Council, and the People’s Government of Fujian province. China to invest $58bn in Pakistan to ring fence West China has unveiled its most expensive Belt and Road Initiative to date, a $58 billion railway system connecting Pakistan to western China, which aims to reduce Western trade dependence, according to a report by the South China Morning Post.