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 digital start-ups


Innovations and Trends in China's Digital Economy

Communications of the ACM

China is both a global leader in e-commerce and the world's manufacturing powerhouse. And yet the development of an industrial Internet is far behind the booming consumer Internet, which creates a tremendous divide between consumer demand and the supply side. A distinctive feature of the recent surge of digital economy in China is the strong push from the rising consumer demand for quality products, which has a major impact on the industrial digitization.4 China has over 1.3 billion mobile Internet users, the largest online shopper population, the largest amount and highest ratio of mobile payment in the world.1 According to China Statistical Yearbook (CSY) 2020, 25% of the national retail took place online in 2019, amounting to $1.8 trillion,3,11 over 90% of which was via mobile payment.11