China's digital trade exports soared to $793.7 billion in 2024, marking a 10.7% year-on-year increase and solidifying its position as the world's fastest-growing digital services economy, according to the Global Digital Trade Development Report 2025 released at the fourth Global Digital Trade Expo in Hangzhou.
The growth rate outpaces the global average by nearly 4 percentage points, driven by innovations in cross-border e-commerce platforms, cloud computing services, and fintech solutions. Analysts highlight China's integrated approach combining infrastructure development, regulatory reforms, and public-private partnerships as key to this success.
"This expansion reflects our commitment to building an open, cooperative digital ecosystem," said a representative from China's Ministry of Commerce during the expo. The event attracted over 1,500 enterprises from 50 countries and regions, showcasing advancements in AI-driven logistics and blockchain-based trade finance.
Business leaders note that China's digital trade boom is reshaping global supply chains, with Southeast Asian markets and European partners increasingly adopting Chinese-developed smart trade platforms. The report projects China will account for 31% of global digital trade growth through 2026.
