Illustration: Liu Xidan/GT

The 2025 Global Digital Economy Conference (GDEC), set to kick off this Wednesday in Beijing, is shaping up to be an event with an international flavor. This comes as no surprise, considering China's open stance in the global digital economy. The nation's efforts to enhance international cooperation in this area have not only spurred its own digital economic growth but also injected a sustained impetus into the global economic landscape.

The conference is expected to draw more than 300 guests from more than 50 countries, regions and international organizations, fostering multi-layered cooperation among international cities in technology, economy, and culture, the Xinhua News Agency reported. The conference is also reported to feature overseas venues in Barcelona, Spain, and Dubai, United Arab Emirates.

Following the agricultural and industrial economies, the digital economy has emerged as a focal point of global interest. In recent years, China has accelerated the development of its digital economy, nurturing the growth of emerging industries such as artificial intelligence (AI), big data, and cloud computing. The added value of the digital economy's core industries accounted for approximately 10 percent of GDP in 2024, while the total data output reached 41.06 zettabytes, representing a robust 25 percent increase year-on-year, according to the Digital China Development Report 2024 released by the National Data Administration. It is precisely the sustained development of China's digital economy that has bolstered the international appeal of conferences like the GDEC.

The GDEC is rooted in the deepening international cooperation of China's digital economy. Over the past five years, China's digital economy has entered a new phase characterized by deepening application, standardized development, and universal benefit sharing. During this period, China has intensified its efforts to further open up its services sector, accelerated the digitalization of trade, and promoted the Digital Silk Road. Concurrently, China has been working to promote the establishment of a favorable international cooperation environment, strengthen cyberspace cooperation, and deepen intergovernmental exchanges on digital economy policies.

China's international cooperation in the digital economy has brought significant benefits to developing countries, particularly in infrastructure development and trade collaboration. By playing a role in building digital infrastructure, China is helping boost the digital sectors in emerging markets economies.

China helps developing countries build digital infrastructure, such as participating in the investment and construction of cross-border fiber optic cable projects like the China-Kyrgyzstan-Uzbekistan cable, which has reduced regional network latency, greatly improving data transmission efficiency. In addition, China has helped construct 5G stations, data centers, and cloud computing hubs in regions such as Africa, providing a solid foundation for the growth of local digital economies.

China has also fostered e-commerce collaboration, establishing bilateral e-commerce mechanisms with more than 30 countries under the Silk Road e-commerce initiative. Cross-border e-commerce has allowed businesses in developing nations to access international markets, expanding sales channels and fostering economic growth.

China's digital economy is providing fresh impetus for global economic expansion. The rapid progress of China's digital economy, along with its international collaboration, has accelerated the development of digital trade and e-commerce, bringing new opportunities to the world economy.

China's booming digital trade has not only fueled its own economic growth but has also contributed to the development of global markets. Furthermore, the nation is integrating digital technologies with the real economy to help developing countries strengthen their industrial and supply chains, enhancing their competitiveness in the global market. By hosting major events like the GDEC, China has provided a platform for international cooperation in the digital sector.

As we stand on the cusp of an information technology revolution, propelled by advancements in 5G, AI, and cloud computing, the digital economy has emerged as one of the most vibrant and innovative economic forces. However, its development, especially in terms of international cooperation, faces several challenges. A notable concern is the cautious stance some nations have adopted regarding cross-border data flows. It restricts the seamless exchange of information vital for promoting worldwide economic integration and fostering innovation.

Amid rising global economic uncertainties, fostering cooperation in the digital economy and breaking down barriers to digital trade could boost global economic growth and the development of digital industries. This approach holds the potential to deliver substantial economic benefits to countries worldwide, including developing nations. In this context, platforms like the GDEC are likely to provide a forum for digital economy professionals from around the globe to engage in exchanges and collaboration, thereby injecting fresh momentum into international cooperation in the digital economy.

The author is a reporter with the Global Times. bizopinion@globaltimes.com.cn