Chinese Premier Li Keqiang Chairs State Council Special Study on Accelerating Digital Economy Development

Beijing, China – On the afternoon of August 21st, the State Council conducted its third special study session with the theme of “Accelerating Digital Economy Development and Promoting Deep Integration of Digital Technology and the Real Economy.” Premier Li Keqiang presided over the session, with academician Chen Chun from the Chinese Academy of Engineering delivering a presentation. Vice Premiers Ding Xuexiang, Zhang Guoqing, and Liu Guozhong participated in the exchange of views.

Premier Li Keqiang, after listening to the lecture and exchanging views, emphasized that since the 18th National Congress of the Communist Party of China, the Party Central Committee, with Comrade Xi Jinping at the core, has attached great importance to the development of the digital economy. General Secretary Xi Jinping has put forward a series of important statements that have provided direction for the development of China’s digital economy and have led to significant achievements. He called for a thorough understanding and implementation of General Secretary Xi Jinping’s important remarks on the development of the digital economy, grasping the new opportunities of the new round of technological revolution and industrial transformation, promoting deep integration of digital technology and the real economy, and continuously strengthening the digital economy to contribute to overall economic recovery and high-quality development.

Premier Li Keqiang pointed out that China possesses multiple advantages, including a vast market, abundant data resources, and diverse application scenarios. The development of the digital economy has extensive space. Efforts should be made to coordinate development and security, leverage advantages, ride the trend, synergize the industrialization of the digital sector and the digitization of industries, and continuously achieve new breakthroughs in the development of the digital economy. He stressed the importance of steadfastly relying on independent innovation, utilizing the advantages of the new type of all-round national system, strengthening basic research, advancing cutting-edge technology research and development, and winning the battle for key core technologies. He called for focusing on the forefront of the digital industrialization strategy, vigorously developing core industries of the digital economy, promoting the development of digital industry clusters, guiding leading enterprises to play a leading role, and promoting collaboration among enterprises of all sizes. He emphasized the need to leverage the characteristics and differentiated needs of different industries, grasp the direction of digitization, networking, and intelligence, use digital technology to comprehensively transform traditional industries, and promote digitization in manufacturing, services, agriculture, and other sectors, reducing the digital transformation costs for small and medium-sized enterprises. Premier Li Keqiang also urged for the continued advancement of digital infrastructure construction, innovative mechanisms for data element development and utilization, enhanced talent training and recruitment, and improvements in the basic support capacity for the development of the digital economy.

Premier Li Keqiang stressed that the development of the digital economy is inseparable from a favorable environment. A systematic perspective should be strengthened, cross-departmental coordination and vertical linkage should be enhanced, efforts from all parties should be pooled together, and major tasks and projects should be accelerated. He emphasized the importance of promoting development and regulatory standards in a balanced manner, adopting an inclusive and prudent regulatory attitude, improving the level of normalized supervision, especially enhancing the predictability of supervision, improving laws, regulations, and policies, and continuously improving the governance system for the digital economy. He called for proactive exploration of new models for cross-border data management and active participation in international cooperation in the digital economy.