China has released a three-year action plan to grow the consumption of online information products and services by 11 percent a year on average and reach 6 trillion yuan ($875 billion) by 2020.
The plan, released by the Ministry of Industry and Information Technology and National Development and Reform Commission, said efforts will be made to let information technology play a bigger role in stimulating consumption, with the combined output of related industries expected to reach 15 trillion yuan.
In three years, China aims to ensure 98 percent of rural villages have fiber optic networks and 4G mobile Internet, alongside the commercial 5G network launch.
The country will also strengthen research and development of core technology, promote information product innovation and industrialization, and integrate the Internet with medical care, pensions, education, and culture, according to the plan.
Among the specific goals, China will boost support to intelligently connected vehicles and aims to establish a reliable computing platform by 2020. Companies will also be encouraged to adopt cloud computing products and services to enhance management efficiency.
China will make more efforts to bolster information consumption in the next few years as part of an effort to stimulate domestic demand and shore up economic growth.
An official guideline released Friday said China aims to boost the consumption of information products and services to 6 trillion yuan or around 880 billion U.S. dollars in 2020 and ensure an annual growth rate of at least 11 percent starting this year.
The goal marked a significant increase from the 4.5 trillion yuan registered in 2017.
The document was jointly released by the Ministry of Industry and Information Technology, and the National Development and Reform Commission.
(source:ourjiangsu.com)
