Hosted by Economic Daily and Langfang Municipal Government, the Digital Economic Conference 2020 was held in Langfang on September 19, 2020. Zhou Min, Vice President of SIC, was invited to attend the conference and delivered a speech.

In his speech, Vice President Zhou Min said that during the COVID-19 epidemic, new digital economy modes such as online shopping, self-service store, fully-automatic factory and online education have been popularized, playing an important part in controlling epidemic spread, meeting people’s needs, recovering production and ensuring social stability. There is an urgent need to accelerate the development of digital economy in an all-round way.  

Firstly, we must analyze the impact of the epidemic carefully, while seeking opportunity in the crisis proactively. The crisis could excite the acceleration of digital transformation of economy and society, making the digital economy a new engine for modern economic system and high-quality economic development.  

Secondly, we must take the initiative to respond to the challenges. The growth of digital economy is critical to empower the new development pattern of “dual cycles”. We should give full play of digital technology, promoting the development of industrial chain and supply chain in an Internet-based, digital, and intelligent way, improving the domestic industrial chain and supply chain system, and strengthening the domestic economic cycle. We shall also support the construction of the digital silk road, develop international digital service trade, and promote the economic globalization process.  

Thirdly, we need to strengthen the integration and innovation of production factors steadily. The digital economy is a new economic format with characteristics of technology-intensive, data-intensive and intelligence-intensive. We need to promote multi-factor integration and innovation as well. It is also necessary to accelerate the technological innovation, to optimize the infrastructure, business environment and security system for the development of digital economy.