The added value of Beijing's digital economy reached 918.05 billion yuan (about 127.5 billion U.S. dollars) in the first half of 2023, up 8.7 percent year on year, accounting for 44.5 percent of the city's GDP, local authorities said.

The digital economy has become the most dynamic new growth driver and a new engine for high-quality development in Beijing, said Wang Lei, deputy head of the Beijing Municipal Bureau of Economy and Information Technology.

Wang added that Beijing has enacted and issued a series of policies and regulations to boost the development of the digital economy.

In 2022, the scale of China's digital economy grew to 50.2 trillion yuan. The share of the digital economy in the country's GDP rose to 41.5 percent, making it an important engine for stable growth and transformation.

Currently, countries around the world are accelerating the development of key areas of the digital economy, and actively seizing development opportunities in fields such as digital technologies and industries, industrial digitalization and data elements.

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