Internet economy, a key contributor to China's new economic driver

Updated: Aug 4, 2019 Xinhua Print
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Visitors to the Light of the Internet Expo, part of the ongoing World Internet Conference, try a wearable musical device using virtual reality technology. [Photo by Zhu Xingxin/China Daily]

BEIJING - As a main aspect of the digital economy, Internet economy has become a key engine for China's new economic driver, official data showed.

The Internet economy index, one of the five sub-indexes of the new economic driver index, contributed 80.8 percent to the growth of the combined index in 2018.

China has seen a stable and fast growth of the new economic index since 2014, and saw a growth rate of 28.7 percent last year.

As a main component of the Internet economy, the number of mobile Internet users in China reached 1.4 billion in 2018, up 9.9 percent year-on-year.

The country also recorded 31.6 trillion yuan ($4.6 trillion) in e-commerce transactions in 2018, up 8.5 percent year-on-year.

"Composed by new industry, new formats and new models, China's new economic driver is expanding, unleashing the vitality of the economy and supporting its high-quality development," said Lyu Haiqi, an official with the National Bureau of Statistics.

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