The Impact of the Digital Economy on China's Economic Development

Abstract

Abstract: This paper explores the impact of the digital economy on China's economic development. The digital economy, as a new form of the economy following the agricultural and industrial economies, centres on data resources and modern information networks, driving the digital transformation of all factors of production. The Chinese government places great importance on the development of the digital economy, clarifying its direction and key tasks through policy documents such as the "14th Five-Year Plan for Digital Economic Development". This paper analyses the current state of development of the digital economy in e-commerce, digital payments, and big data applications, and discusses its impact on industrial structure, employment, and consumption patterns. The study shows that the digital economy has promoted the upgrading of traditional industries and the growth of emerging industries, while also bringing about changes in employment structure and innovation in consumption methods. However, it also poses challenges to the job market, which need to be addressed through skills training and educational reform.