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State Council Prioritises Development of Information Economy

The State Council has prioritised the development of the information economy as a means of boosting overall domestic demand, opening up new employment opportunities and guiding the country’s industrial upgrade programme. This new strategy was outlined in Guiding Opinions on Further Expanding and Upgrading Information Consumption to Sustainably Unleash the Potential of Domestic Demand, a recently published policy document.

With a view to increasing the value of the information economy to RMB6 trillion (US$913 billion) by 2020, the policy document also calls for the wider application of information technology products and an upgrade to the capacity of all the relevant online information services.

The following three measures were designated as particular priorities by the State Council:

(1) Maximising the availability of digital information

To this end, moves should be made to intelligently upgrade the relevant applied electronic products, while increasing the capabilities of the required information technology services. At the same time, digital creativity should be enhanced, while the scope and availability of online educational and medical services, together with e-commerce provision, should be broadly expanded.

(2) Increasing overall online access

In order to facilitate this, the country’s optical fibre network is to be expanded and upgraded, as is the existing 4G network, while commercial 5G services are to be phased in by 2020.

(3) Establishing a suitable environment for the development of the information economy

This will see the establishment of an overall credit system prioritised, while measures will be put in place to safeguard personal information and intellectual property rights, as well as to increase the overall security of digital information networks.

For further details (in Chinese), please refer to the following website:

Guiding Opinions of the State Council on Further Expanding and Upgrading Information Consumption to Sustainably Unleash the Potential of Domestic Demand (Guo Fa No. 40 [2017])

Content provided by Picture: HKTDC Research
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