China vows to support digitalisation of 4000-6000 small firms by 2025 – Reuters

A man uses a vending machine promoting China’s digital yuan, or e-CNY, at the The far east Construction Bank booth, during the World Artificial Intelligence Conference (WAIC) in Shanghai, Tiongkok, July 8, 2021. REUTERS/Yilei Sun

BEIJING, Aug 17 (Reuters) — China will support around 300 service platforms to help with the digital transformation of 4, 000-6, 000 small- and medium-sized enterprises till 2025, the country’s industry plus information technology ministry and finance ministry said on Wednesday.

“From 2022 to 2025, the central government plans to aid local governments to carry out digital change pilots for small and medium-sized businesses, ” the particular ministries stated in a joint statement.

In 2022 alone, the main government programs to back up about 100 service platforms with incentives in order to speed up the digitalisation associated with firms. Each platform should help with least 10 firms to complete their digital modification and the maximum reward with regard to each platform shall not exceed 6 million yuan ($885, 373. 63), according to the statement.

The programme will target companies in key industries such as manufacture of automobile parts, electronic equipment and pharmaceutical and chemical products, the particular statement mentioned.

Small firms are the mainstay associated with China’s economy and a major source of jobs, but many of them were hit hard by stringent COVID-related curbs this year.

The Cyberspace Administration associated with China in late 2021 said the country will achieve “decisive progress” in digitalisation by 2025, a transformation that the particular country sees as a route to a stronger and more efficient economic climate.

The electronic economy accounts for 39. 8% of China’s gross domestic product inside 2021 plus reached 45. 5 trillion yuan, based on the China Academy of Information and Communications.

($1 = 6. 7768 Chinese yuan renminbi)

Reporting simply by Ellen Zhang and Ryan Woo; Editing by Raju Gopalakrishnan

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