SOURCE / ECONOMY
China's digital economy provides blueprint for Italy: former Italian official
Published: Oct 14, 2020 10:05 AM

People visit a display center of the National Big Data Comprehensive Pilot Area in southwest China's Guizhou Province, May 22, 2019. In Guizhou Province, which hosts China's first state-level big data pilot zone, the integration of big data with sectors such as real economy, social management, civil service and rural revitalization has brought significant changes to people's life. According to statistics, Guizhou has more than 9,500 big data enterprises and many of them are active players on the global business stage. A 2019 whitepaper published by the China Academy of Information and Communications Technology indicates that Guizhou is taking advantage of big data in the course of its development, as both the growth of the province's digital economy and the growth of its employment in digital economy have ranked first in China. (Photo: Xinhua)


 The rapid development of China's digital sector could act as a kind of blueprint for Italian companies looking to thrive in the same sector, according to Michele Geraci, a former undersecretary of state at Italy's Ministry of Economic Development.

Geraci, an economist who was seen as one of the government's top China policy experts during the first government of Prime Minister Giuseppe Conte, is now a lecturer at the University of Nottingham's campus in Ningbo, China. His remarks were quoted by media reports.

When contacted by Xinhua on Tuesday, Geraci indicated the information was accurate.

"The development of the digital economy in China brings both lessons and opportunities for Italy," Geraci is quoted as saying.

Geraci mentioned the widespread use of digital payment as an area where Italy can benefit from China's experience.

Geraci said that through China, Italy can see the benefit of investments in the digital economy and that the digital sector in China can represent compelling markets for Italian companies.

As undersecretary of state with Italy's Ministry of Economic Development, Geraci was one of the architects of Italy's participation of the Belt and Road Initiative, which was formalized last year.