Xi Jinping: With blockchain innovation, China’s economy needs continuous strengthening

In the 34th collective study by the Standing Committee of the Political Bureau of the Communist Party of China (CCP), President Xi Jinping said that before the blockchain innovates, the Chinese economy must continuously strengthen.

China understands the trends and laws of the digital economy

On the afternoon of October 18, the Standing Committee of the Chinese Communist Party (CCP) Political Bureau conducted the 34th collective study on promoting the healthy development of the country’s digital economy.

President Xi Jinping

In the course of the study, President Xi Jinping, who is also general secretary of the Central Committee of the Communist Party of China, emphasized that in recent years the Internet, big data, cloud computing, intelligence, artificial intelligence (AI), blockchain and other technologies have driven innovations and will be increasingly integrated into the whole process of economic and social development.

Therefore, Chinese needs a new perspective on overall strategic coordination, digitizing the economy and creating huge changes that have not been seen in a century. At the same time, continuously strengthen and improve the country’s digital economy.

Since the 18th National Congress of the Communist Party of China, the party’s Central Committee has attached great importance to the development of the digital economy, the implementation of the power grid strategy and the national big data strategy. The government also continuously supports various innovations based on the internet, artificial intelligence (AI) etc. to create an internationally competitive digital industrial cluster.

In addition, their digital economy is also growing rapidly and achieving remarkable results. Especially since the outbreak of the COVID-19 epidemic, digital technologies and the digital economy have played an important role in supporting the fight against the epidemic and restoring production and people’s lives.

Finally, Xi stressed that the digital economy is related to the general development situation, so it is necessary to well design and build the top-level system for the development of China’s digital economy situation, seize opportunities and take the initiative.

At the same time, it is important to improve the digital skills and knowledge of the entire population and society and to strengthen the social foundations for China’s digital economic development.

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