Research on Digital Economy Driving High Quality Development of China's Manufacturing Industry

Abstract

As an important driving force of the new round of scientific and technological revolution and industrial change, the digital economy plays a key role in the high-quality development of China's manufacturing industry. This paper discusses in depth the profound impact of the digital economy on China's manufacturing industry, as well as the transformation and upgrading path of the manufacturing industry in this context. It is found that the digital economy has reshaped the value chain of the manufacturing industry through technological innovation, model innovation and organisational innovation, promoting the improvement of production efficiency and the optimisation of industrial structure. Driven by the digital economy, manufacturing enterprises have actively embraced digital technologies, such as cloud computing, big data, artificial intelligence, etc., which have promoted product personalisation, servicing and networking, and realised the transformation from traditional manufacturing to smart manufacturing. In addition, the digital economy has spawned new growth points and industrial ecosystems, such as the industrial Internet and platform economy, which have further stimulated the innovation vitality of the manufacturing industry. Government policy guidance and support, such as the construction of digital infrastructure, the opening of data resources, and the creation of an innovative environment, have played an important role in promoting this process. However, the digitisation process also involves issues such as data security, privacy protection, and skills gaps, which need to be properly addressed by improving regulations and enhancing education and training. To summarise, the digital economy has opened up new space for the high-quality development of China's manufacturing sector, but it also poses new challenges. Manufacturing enterprises, the government and relevant stakeholders need to work together to seize the opportunities of the digital economy and deal with the complex issues brought about by digital transformation, in order to achieve sustainable and inclusive growth in the manufacturing sector. This will not only help the manufacturing industry to maintain its leading position in global competition, but will also inject a strong impetus into the transformation, upgrading and sustained prosperity of China's economy.