China News Agency, Beijing, July 17th: How does China stand out in the global digital economy game?
Author Liu Dian Distinguished Associate Researcher of the China Research Institute of Fudan University, Expert of the Digital Belt and Road Research Center
The digital economy has become the strategic commanding heights of global competition. All countries are accelerating the pace of development of the digital economy, while China's digital economy is currently facing pressure from both international and domestic sources.
From an international perspective, the global power competition in the digital economy is entering a white-hot stage.
Countries around the world, especially major economies, have introduced medium- and long-term digital development strategies to accelerate the development of the digital economy, build a digital-driven economic system, and strive to win the initiative in future development and international competition.
At the same time, the strategic role of technology giants has gradually emerged, and even has the geopolitical influence to control the development of political and economic trends.
Therefore, all countries are currently competing for the future voice of the global digital economic market and global governance.
From a domestic perspective, the development of China's digital economy is also facing multiple challenges.
On the one hand, China's digital industry is going through a period of technological evolution and transition from Web 2.0 to Web 3.0, and many key technological bottlenecks need to be accumulated and broken through; on the other hand, China's digital economy is facing a transition period of high-quality development and downward pressure on the macro economy At the special moment of increasing superposition, problems such as demand contraction, supply shock, and weakening expectations are more prominent in the economic environment.
In October 2020, the 3rd Digital China Construction Summit opened in Fuzhou.
Pictured is the interior of the main venue.
Photo by China News Agency reporter Zhang Bin
How to deal with multiple challenges from home and abroad and find a path for the development of the digital economy that is most suitable for China is an urgent practical problem.
The game is getting more and more intense
Because the three major digital economies in China, the United States and Europe are at different stages of digital economic development and their regulatory goals are different, the application of state-market synergy is also different.
This also has a significant impact on the current three-party game situation.
The three-party game between China, the United States and Europe is mainly centered on the United States, forming two battlefields, namely the United States, Europe and China and the United States.
Due to the different foundations of the digital economy, the United States and Europe have formed different governance systems and development directions, resulting in fierce disputes.
The digital economic dispute between China and the United States is an extension of the competition between China and the United States. The United States is trying to suppress China's development in new fields and maintain its own digital hegemony.
Between the United States and Europe, the United States vigorously promotes the global expansion of technology giants, which has collided violently with the awakening of Europe's awareness of digital sovereignty.
The United States hopes to promote the free flow of cross-border data and relax network border restrictions within the small circle it has created, give full play to its advantages in the digital economy, and help American technology giants expand rapidly in the global market.
The US technology giants, which have achieved a data monopoly in the global market, are reaping the global data dividend while gaining the initiative for the US government in digital geo-competition.
The EU not only does not have the first-mover advantage of the United States in the field of digital economy, but also does not have technology giants like Facebook and Alibaba to help the EU better participate in the global data market competition. The risk of giant monopoly.
Therefore, the EU has adopted anti-monopoly laws and taxation to prevent US technology giants from being “dominant”, protect the rights of small and medium-sized enterprises and users, and adhere to a fair data governance system based on rules, emphasizing data sovereignty and independence.
The facebook booth at the 2018 China International Big Data Industry Expo in May 2018.
Photo by China News Agency reporter He Junyi
Between China and the U.S., the U.S. suppresses China’s digital industry and technology giants through various means such as domestic laws, executive orders, and small circles.
In the past few years, the United States has placed many Chinese companies on the Entity List to suppress and sanction many Chinese companies, such as ZTE and Huawei, in the name of protecting the "information and communication technology supply chain", restricting the development of Chinese digital economy companies through sanctions such as long-arm jurisdiction.
In 2020, the Trump administration issued executive orders on Douyin and WeChat, barring U.S. companies from transacting with Douyin or WeChat’s parent companies, and planning to block both apps from the U.S. app store.
In terms of technology exports, the United States has also been continuously strengthening its own export controls and restricting Chinese investment in the United States.
In September 2020, at an exhibition held in Fuzhou, the Douyin live broadcast room set up by the organizer.
Photo by China News Agency reporter Zhang Bin
At the same time, the United States hopes to form a digital economic encirclement against China by forming a small circle.
The Western technology alliance headed by the United States exaggerates China's security threat and pursues and intercepts China.
For example, the United States and Europe have established a "Trade and Technology Committee" to conduct investment reviews in China, restrict technology exports, and implement "de-Sinization" of supply chains.
In order to comprehensively contain China, the United States is also continuing to promote the formulation of digital technology-related rules through the Indo-Pacific Digital Alliance to shape and dominate the regional digital order.
Between China and the EU, disputes and willingness to cooperate in the digital economy coexist.
Although Europe has taken precautions against China's growing digital power, there is disagreement within the EU on boycotting China. China and the EU are highly complementary in many aspects such as scientific and technological talent reserves, innovation capabilities, and digital industries, which is conducive to the development of digital cooperation between the two sides. .
How does China respond
The influence of the digital game between China, the US and the EU is getting bigger and bigger. In particular, the United States is also using various means of suppressing China. China should find its own way out of the competition and cooperation between the US and Europe as soon as possible, break through the technological bottleneck, give full play to its institutional advantages, Develop a broader international market.
Therefore, in the face of domestic and foreign pressures on the development of the digital economy, promoting development has once again become the main theme of China's digital economy policy system, making the digital economy a "good recipe" for China to stabilize growth and enhance its international competitiveness.
On May 17, the National Committee of the Chinese People's Political Consultative Conference held a special consultation meeting on "Promoting the Sustainable and Healthy Development of the Digital Economy" in Beijing, releasing many important signals of favorable policies.
In September 2021, the 2021 China International Digital Economy Expo with the theme of "Innovative Development and Digital Economy" opened in Shijiazhuang, Hebei Province.
Photo by China News Agency reporter Zhai Yujia
To cope with global challenges and strategic competition risks, first of all, China should conduct in-depth discussions with other countries on the setting of relevant issues in the context of global development initiatives and global security initiatives, and expand international cooperation in the digital field.
Second, manage differences with the EU and continue to deepen cooperation on digital governance.
Third, expand cooperation with developing countries, and rely on platforms such as the “Belt and Road” and RCEP (Regional Comprehensive Economic Partnership) to build and promote the development level of digital markets in relevant countries.
The key to resolving the domestic pressure on the development of the digital economy is to liberate and develop data productivity.
First of all, it is necessary to improve the digital economy policy system, coordinate development and security, promote a major transformation guided by top-level design principles at the legislative and policy levels, build mutual trust between government and enterprises, effectively leverage government-market synergy, and jointly build a new digital platform.
Second, optimize the advantages of data resources, accelerate the cultivation of the data element market, and improve the operation of the market.
Third, deeply integrate the real economy and the digital economy, accelerate the digital transformation of traditional industries with new technologies in an all-round and full-chain manner, and accelerate the transformation and upgrading of various industrial structures.
Fourth, expand market access and opening up in the digital field in an orderly manner, support the pilot and trial of institutional innovation in the Free Trade Zone (Hong Kong), adhere to innovation-driven development, increase investment in cutting-edge technology research and development, and cultivate and attract high-end digital talents at home and abroad. .
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Interviewee Profile:
Liu Dian, Distinguished Associate Researcher of China Research Institute of Fudan University, Director of Public Affairs Department of Guan Media.
He once worked in Chongyang Institute of Financial Studies, Renmin University of China.
His main research areas include digital economic governance, digital currency, network and data governance, and international political economy.
He has published more than ten research papers in core journals such as "China Finance", "Cultural Landscape" and "Academic Forum", and published nearly 100 comments in dozens of paper media such as "Guangming Daily", "Economic Daily", "Liberation Army Daily" and "Learning Times". article.