East China’s Zhejiang Province has set a goal of bringing the added value of digital economy to about 60 percent of its GDP by 2025.
According to the province’s 14th Five Year Plan on the development of digital economy, industrial chains and clusters of digital security, integrated circuits, and high-end software will be constructed by 2025, with the number of valid patents in digital economy reaching 80,000.
The province will also improve its digital trade environment, aiming to increase the total volume of imports and exports in digital trade to 1 trillion yuan (about 154.5 billion U.S. dollars).
Zhejiang has been a strong player in the digital economy sector. In 2020, the added value of digital economy of the province reached 3.02 trillion yuan, accounting for 46.8 percent of its GDP.