THE ROLE AND IMPORTANCE OF CHINA IN THE GLOBAL DIGITAL ECONOMY

The article examines the process of prospective development of the digital economic space of the People’s Republic of China (PRC). The analysis of the main indicators of the development of the digital economy in China is made. China’s strong performance in the digital economy shows accelerated investment in new infrastructure programs: artificial intelligence, industrial internet, internet of things. The external and internal factors hindering the active development of information technologies in the country are indicated. China faces three major problems: continued dependence on imports of key technologies and key components; the amount of investment in basic research (mostly shortterm) is half that of the United States; and there is no mechanism for converting patents into industrial products and technologies. The world market of semiconductors is investigated. In the future, the main factor slowing down the development of the digital economy is the formation of the Chip 4 technology alliance (South Korea, Japan, Taiwan). China’s digital economy has one of the most active digital investment and startup ecosystems, is the world leader in venture capital investment in key digital technologies, has the world’s largest e-commerce market, and is a global force in mobile payments. China’s digital economy has become a key force in the restructuring of the global economy and the transformation of the global competitive environment of the world market. The successful implementation of the objectives of the 14th five-year plan for the development of the digital economy (国务院关于印发), as well as the expansion and strengthening of trade relations with the countries of the Asia-Pacific region allows China to take a leading position in the digital economic space.

digital integration, digital economy, Chip 4 alliance, global economy, transformation, digital space, semiconductor market, economic space, restructuring, analysis, tasks, trade relations

Voronovskaya E. V., Li Xue Fenq, Tang Qi, Biryukova T. V. The role and importance of China in the global digital economy. Business. Education. Law, 2022, no. 4, pp. 159—163. DOI: 10.25683/VOLBI.2022.61.492.