China Makes Substantial Progress Creating Digital Economy Environment

A report from chinadaily.com.cn on Feb. 28th, 2023:

Zhao Zhongxiu, president of the University of International Business and Economics (right) and Wang Yin, deputy editor-in-chief of China Social Sciences Press, together unveil the book of a report on the business enabling environment for the digital economy in China on Sunday. [Photo provided to chinadaily.com.cn]

China has made substantial progress in building an enabling business environment for the digital economy, according to a report released by the University of International Business and Economics in Beijing on Sunday.

Such progress features the initial formation of the national policy system for the digital economy, active explorations for legislations on the digital economy at local level, the continuous improvement in the business climate for the digital economy and many local innovative measures to promote the development of the digital economy, the report said.

However, the report also showed many existing problems in China regarding the business environment for the digital economy, which include the incompleteness of the basic policy system for the digital economy, some improper invisible fees on enterprises, room for improvement in scientific and technological innovation and intellectual property rights protection, and unbalanced development between regions.

Wang Jingbo, deputy president of the UIBE, said the report is China’s first comprehensive report on the business enabling environment on digital economy in the country.

The research team worked 12 months on the program, which has systematically assessed the digital economy business environment in 36 major cities in China from the four dimensions of market entity protection, market environment, government services and market supervision, she said.