The second Global Digital Trade Expo (GDTE) opened on November 23 in Hangzhou, capital of east China’s Zhejiang Province, under the theme “Digital Trade Connecting the World.”
President Xi Jinping sent a congratulatory letter to the expo, emphasizing the importance of leveraging digital trade to foster cooperation and drive common development globally. He called for building digital trade into a new engine of growth, injecting fresh momentum into the world economy.
Digital trade has emerged as a critical component of economic development and international commerce. Innovative digital technologies and business models are permeating every aspect of the economy and society, fundamentally transforming traditional business practices and trade patterns.
The unique advantage of digital trade lies in its ability to transcend temporal and spatial limitations through digital and networked means. It significantly reduces transaction costs, enhances efficiency, expands market reach, and promotes trade balance and economic growth.
Spanning over 100,000 square meters, the expo showcases the future of the industry with innovative products and cutting-edge technologies. It is poised to offer broader market opportunities for small and medium-sized enterprises and developing countries, facilitating their integration into the global economy.
China’s foray into digital trade began early, establishing a robust foundation with considerable potential. As the world’s largest internet user market, China boasts approximately one billion netizens and an internet penetration rate of 75.6 percent. This vast market and data advantage provide immense opportunities for the expansion of digital trade.
The GDTE serves as a platform for global collaboration, bringing together stakeholders from around the world to explore the possibilities of digital trade. By fostering innovation and cooperation, the expo aims to contribute to high-quality development and shared prosperity.
Reference(s):
Digital Trade, a new engine for China's high-quality development
cgtn.com
