Chaoyang ramps up development of digital economy

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Beijing's Chaoyang district rolled out a series of policies to escalate the application of digital technologies, including a plan for the district to become a demonstration area for developing the digital economy.

According to the plan, the district will construct a digital economy ecosystem incorporating new types of digital infrastructure, headquarters of companies, industries, and everyday services.

Specifically, the district aims to attract over 100 companies that are leaders in their respective industries, and cultivate over 300 companies with high growth during the 14th Five-Year Plan period (2021-2025). It has set targets of setting up 20 buildings, 20 industrial parks, and 50 demonstrative application scenarios by 2022 that are all focused on the digital economy.

So far, the district has signed a strategic cooperation agreement with China's tech giant Huawei in this regard, delivering results in waterway inspection and governance, hospital services, and new infrastructure development.

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