The study “Digital Trade: Development and Cooperation” released at the 2022 China International Services Trade Exhibition (CIFTIS) suggest that digital trade has raised the economic performance of the new belt and road initiative countries. The report shows that the value of global cross-border trade in digital sector will reach USD 3.8 trillion, accounting for 63,6% of total trade in services. China’s digital trade is growing rapidly, with the country’s total imports and exports of digital services growing 22.3% year on year (yoy) in 2021 to reach USD 359.69 billion. Zhang Xiangchen, Deputy Director General of the World Trade Organization, said digitalization is driving a new circle of innovation in the service sector, which presents great opportunities for economic growth. According to wang Xiahong, Deputy Head of the China Center for International Economic Exchanges (CCIEE) information department, the digital silk road plays a major role in high-quality BRI cooperation.
Thursday, 08 September 2022 10:03
Digital commerce lifts economic performance of the new Silk Road Initiative
