Shanxi to invest 1.2b yuan to foster digital economy in 2024

In 2024, North China's Shanxi province will continue to increase its investment in the digital economy, allocating a total of 1.2 billion yuan ($165.87 million) in funds to support its growth. 

This investment will support the digital transformation of traditional industries, such as coal, coal-fired power generation, and steel, while also focusing on fostering the growth of emerging industries. 

The province aims to build a top-tier digital infrastructure, leading to the emergence of a new pattern for digital economy development. 

From 2022 to 2023, Shanxi had allocated about 2.19 billion yuan in funds for the development of the digital economy. This investment focused on implementing new industrialization, leading to the construction of over 93,000 5G base stations. 

The funds were also used to accelerate the second-phase construction of data centers such as Chindata and Zdata, the Shanxi energy information regulatory service platform, and the communication fraud prevention and interception system.