China's digital trade records significant progress in 2022

HANGZHOU - China's digital trade made remarkable progress in its scale in 2022, while its global competitiveness continued to improve, an official with the Ministry of Commerce (MOC) said on Thursday.

In 2022, China's digitally-delivered service trade value rose 3.4 percent year-on-year to $372.71 billion, hitting a historic high, said Wang Dongtang, an official with the MOC, at the opening ceremony of the second Global Digital Trade Expo in Hangzhou, capital city of East China's Zhejiang province.

In this period, the import and export scale of cross-border e-commerce totaled 2.11 trillion yuan ($295.4 billion), expanding 9.8 percent year-on-year, Wang said while releasing a report on China's development of digital trade in 2022.

By the end of 2022, the number of Chinese digital service platform enterprises with an individual market value of over $1 billion had exceeded 200, he said.

Digital trade is becoming a new engine for China's drive to build a strong trade nation and a new tool for high-level institutional opening up, said Wang, adding that efforts will be made to strengthen top-level design, develop new business forms and align digital trade rules with high standards.