Information products valued at 6 trillion yuan by 2020

Source:Global Times Published: 2018/8/10 22:48:40

China is planning to bring the value of online information products and services up to 6 trillion yuan ($875 billion) by 2020, according to a three-year plan released on Friday. This marks the country's determination to bolster the role of information technology (IT) in consumption.

The plan, jointly released by the Ministry of Industry and Information Technology and the National Development and Reform Commission, expects an average annual growth rate of the information consumption sector to be more than 11 percent over the next two years, while the combined output of IT-driven industries is expected to reach 15 trillion yuan by 2020.

In three years, China aims to ensure that 98 percent of rural villages to have fiber optic networks and 4G mobile internet, alongside the launch of the commercial 5G network.

Intelligent digital products for consumer use should be promoted using the Internet of Things, big data, cloud computing and artificial intelligence to upgrade digital products, according to the official plan.

China will boost support of intelligently connected vehicles and plans to establish a reliable computing platform to forge related standards by 2020.

Global Times

Posted in: SOCIETY,MARKETS,BIZ FOCUS

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