China’s Digital Economy Thrives: Over 4.57 Million Companies Now Driving Growth

China’s digital economy continues to flourish, with the total number of core digital economy companies reaching 4.57 million as of November, marking an 18% increase compared to the end of 2023, according to a report by the China Organizations Data Service.

The report reveals that companies in the digital technology application sector dominate the industry, accounting for 2.17 million businesses. The digitally-driven industry follows closely with 1.96 million companies, while the digital product services sector comprises 236,300 firms. Meanwhile, the digital product manufacturing sector includes 208,200 companies.

Core industries of the digital economy encompass economic activities that supply the technologies, products, services, infrastructure, and solutions essential for digital development. These industries also rely heavily on digital technologies and data-driven elements to propel their operations and innovations forward.

China’s sustained growth in this sector highlights its commitment to integrating digital advancements into its broader economic strategy, reinforcing its position as a global leader in digital transformation.