China should attach more importance to the development of the digital economy by strengthening internet-related laws and the protection of intellectual property rights as the new form of economy is expected to account for 35 percent of the country’s GDP by 2020, experts said on Tuesday.
The nation’s top leadership, led by President Xi Jinping, also general secretary of the Communist Party of China Central Committee, have urged the country to accelerate development of the digital economy and cutting-edge technologies, such as artificial intelligence and big data, to better serve the real economy and pursue high-quality development. Xi on Oct 31 urged the country to make more efforts to develop the new generation of artificial intelligence (AI) to promote the country’s high-quality economic growth.
He also said on Monday in Shanghai at the China International Import Expo that the world should make good use of the opportunities brought by the new round of technological revolution and industrial transformation, and strengthen cooperation in digital economy and AI. Dong Xinyi, an expert at the Law School of the Central University of Finance and Economics said: “The principle of law-based development should be abided by in the development of the digital economy to ensure its stable growth.”
Dong said much attention should be paid to such legal issues as internet security, personal information protection, consumer protection and the duties of internet platforms. Based on the experiences of other major economies in developing the digital economy, China should strengthen regulation of the internet economy, punish internet piracy, and promote the protection of intellectual property rights, said Wang Haochen, an economist with the State Information Center.
China can also draw lessons from developed economies and draft industrial development plans for the digital economy, Wang was quoted by the Outlook magazine as saying.
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7 November 2018