Unleash new momentum for the digital economy with stronger product power
2024-08-16
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Recently, many Chinese platform companies such as Tencent and Meituan released their financial reports. Taking Tencent as an example, the growth rate of operating profit reached 27%, which has continuously outperformed the growth rate of revenue. The financial reports of platform companies fully reflect the optimization of their income structure and the improvement of profit quality, and behind this is the vigorous development of my country's digital economy. According to statistics, the development of my country's digital economy has been significantly higher than the GDP growth rate in the same period for 11 consecutive years, and the proportion of digital economy in GDP has reached 41.5%, which is equivalent to the proportion of secondary industry in the national economy.
In the development of the digital economy, platforms have undoubtedly played an important role. Platforms are an important carrier for the development of the digital economy, and the typical feature of the digital economy era is the platform economy. As a new way of organizing productivity in the digital age, the platform economy is the main force in the development of my country's digital economy. It has penetrated into many aspects such as personal consumption, life, finance, logistics, and education, and is profoundly changing people's working methods, consumption habits, and social behaviors. It plays an increasingly important role in promoting industrial upgrading, optimizing resource allocation, and connecting economic cycles. For example, due to different payment habits, some foreigners in China encounter payment difficulties, which affects the willingness of foreigners to come to China. With the help of payment platforms such as WeChat, the payment system has been continuously improved, and the bottlenecks that attract foreigners to China have been opened. The convenience of foreigners coming to China to work, study, and travel has been greatly improved. Data shows that the willingness of foreigners to use mobile payments has increased significantly. In the first half of 2024, more than 5 million inbound personnel used mobile payments, a year-on-year increase of 4 times; more than 90 million transactions were made, with an amount of more than 14 billion yuan, both of which increased seven times year-on-year.
Behind the steady growth of platform enterprises is the large and continuous investment of platform companies in R&D. Taking Tencent as an example, the R&D expenditure in the second quarter reached 17.277 billion yuan, and the R&D investment in more than six years since 2018 has exceeded 302.6 billion yuan. Platform companies have increased their R&D investment and continuously launched new products, which has brought out the "product power" of the digital economy. From the perspective of specific products, at the e-commerce level, Pinduoduo's TEMU has achieved good growth overseas. At the interactive cultural product level, Tencent's overseas game business has also achieved a 9% growth. For example, "Honor of Kings" has ranked first in the Southeast Asian market since June, and has long been on the road to becoming a mature international game company. Taking the most representative product in the field of digital economy as an example, the combined monthly active account number of WeChat and WeChat has further increased to 1.37 billion, but the platform has not stopped there. In the continuous operation of video accounts and mini-program transaction ecosystems, it has further linked the majority of creators, developers and physical merchants. Behind the continuous creation of links is the continuous improvement of platform product capabilities.
As a new engine for China's high-quality economic development, the digital economy plays an important driving role in the economy in all aspects. On the one hand, the digital economy has deepened the digitalization and intelligent transformation of traditional manufacturing, which can empower the development of the real economy; on the other hand, the digital economy has continuously spawned new formats, new models and new industries, which can continuously open up new economic growth points. The Third Plenary Session of the 20th CPC Central Committee proposed to improve the system to promote the deep integration of the real economy and the digital economy, which is aimed at giving full play to the driving and engine role of the digital economy in high-quality development, promoting the development of the digital economy through the integration of numbers and realities, and then driving industrial transformation and technological innovation.
The real economy is a solid support and the digital economy is an important driving force to promote the steady and long-term development of the Chinese economy. From the financial reports of Chinese platform companies that have been released intensively recently, we can also see the latest progress data on the integration of digital and real economy. For example, in Tencent's financial report this quarter, we can see that the digital and real economy revenue represented by the financial technology and enterprise service sectors reached 50.4 billion yuan in the second quarter, a year-on-year increase of 4%. Driven by the expansion of self-developed business and the acceleration of SaaS and PaaS commercialization, the enterprise service business maintained double-digit growth - behind this, more and more physical manufacturing companies are using the services of WeChat for Business and Tencent Conference to enhance their operational efficiency and business strength. Behind the continuous high-quality growth of the digital economy, on the steady and long-term Chinese economy, the digital economy continues to "branch out and open leaves", and we can see that the content ecology, technology ecology and industrial ecology formed based on the platform are still booming.
At present, it is particularly important to improve the policy system to promote digital industrialization and industrial digitalization, improve the system to promote the deep integration of the real economy and the digital economy, and form a new pattern of deep integration, mutual support and coordinated development of the digital economy and the real economy. On the one hand, focusing on the emergence of a large number of new technologies, new products and new models spawned by the deep integration of the digital economy and the real economy, further expanding the breadth and depth of digital-real integration, optimizing the support policies for digital industrialization, increasing support for digital technology innovation platforms and core industries of the digital economy, deepening the depth of industry-university-research cooperation in the field of digital technology, and breaking the institutional and mechanism barriers that restrict the integration of the digital economy and the real economy.
On the other hand, digital technologies such as artificial intelligence, big data, and cloud computing are key to promoting the deep integration of the real economy and the digital economy. Compared with the world's digital economic powers, my country's technological innovation capabilities still lag far behind. This requires strengthening the research and development of key core technologies, breaking through practical problems such as "stuck necks" in technology, and breaking the technical bottleneck for the integration of digital and real economies.
One of the important reasons why the digital economy characterized by platform economy can grow rapidly in China is the inclusive, prudent and innovative policies. The digital economy and the real economy are not in a zero-sum game of competition. The deep integration of the two can effectively enhance the resilience and vitality of economic development. It can enable high-quality economic and social development. Therefore, we should promote the development of the digital economy with a caring and promoting attitude, promote the transformation of traditional supervision to a new type of inclusive and prudent supervision, and fully unleash the development vitality and creativity of the digital economy. (Li Yiling)
Source: Guangming.com
