Accelerating the change in China’s economic growth model under the influence of the digital economy

Authors

  • Li Rong Belarusian State University, 4 Niezaliežnasci Avenue, Minsk 220030, Belarus
  • Catherine G. Gospodarik Belarusian State University, 4 Niezaliežnasci Avenue, Minsk 220030, Belarus

Keywords:

digital economy, economic growth, Chinese economic model, transformation, GDP growth

Abstract

Under the influence of the new situation, China has moved from a traditional economic model to a digital economy model. The digital economy and the dynamics of China’s economic development are analysed. Transition under study from traditional to modern services, from factors of production to innovation, from investment to consumption, from demand to supply and from high-carbon to low-carbon foreign trade. The shortcomings of China’s economic development are considered. The way of optimising the digital economy to accelerate the change in the model of the dynamics of China’s economic development is being explored.

Author Biographies

  • Li Rong, Belarusian State University, 4 Niezaliežnasci Avenue, Minsk 220030, Belarus

    postgraduate student at the department of analytical economics and econometrics, faculty of economics

  • Catherine G. Gospodarik, Belarusian State University, 4 Niezaliežnasci Avenue, Minsk 220030, Belarus

    PhD (economics), docent; head of the department of analytical economics and econometrics, faculty of economics

References

  1. Che Shulin, Wang Qiong. [Power change and path selection of high-quality development of cultural industry in the era of digital economy]. Academic Exchange. 2022;1:114–125. Chinese.
  2. China statistical yearbook 2021 [Internet; cited 2022 May 20]. Available from: http://www.stats.gov.cn/tjsj/ndsj/2021/indexch. htm. Chinese.
  3. Main indicators of the national software and information technology service industry in 2021 [Internet; cited 2022 May 20]. Available from: https://www.miit.gov.cn/gxsj/tjfx/rjy/art/2022/art_dcfd7bbb585e432ea4ff13f7139306c9.html. Chinese.
  4. Software industry economic operation express from January to December 2015 [Internet; cited 2022 May 20]. Available from: https://www.miit.gov.cn/gxsj/tjfx/rjy/art/2020/art_970ed71e70e24b9ba9c74aa3f74b4b10.html. Chinese.
  5. Economic operation of the software industry from January to November 2014 [Internet; cited 2022 May 20]. Available from: https://www.miit.gov.cn/gxsj/tjfx/rjy/art/2020/art_90715e2af12e4b6cac6efd24ccd7cf7b.html. Chinese.
  6. Chen Fuzhong, Jiang Guohai, Wang Wenting. Institutional quality and its impact on the facilitation of foreign direct investment: empirical evidence from the Belt and Road countries. Journal of Chinese Economic and Foreign Trade Studies. 2019;12(3):167–188. DOI: 10.1108/JCEFTS-07-2019-0041.
  7. World intellectual property report 2022: the direction of innovation [Internet; cited 2022 May 1]. Available from: https://www.wipo.int/publications/en/details.jsp?id=4594.
  8. Lei Shen, Xi Zhang, Hongda Liu, Pinbo Yao. Research on the economic development threshold effect of the employment density of the Shanghai consumer goods industry in the context of new manufacturing, based on the experience comparison with international metropolis. Mathematics. 2021;9(9):969. DOI: 10.3390/math9090969.
  9. Rong Li, Yu Ziqing, Gospodarik CG. Digital economy promotes economic development in the COVID-19 era. Novaya ekonomika. 2021;2:249–266.
  10. 49th Statistical report on China’s Internet development [Internet; cited 2022 May 15]. Available from: https://www.cnnic.com.cn/IDR/ReportDownloads/202204/P020220424336135612575.pdf.
  11. Rong Li, Gospodarik CG. The impact of digital economy on economic growth based on Pearson correlation test analysis. In: Jansen BJ, Liang Haibo, Ye Jun, editors. Proceedings of the International conference on cognitive based information processing and applications; 2021 August 21; Singapore. Springer: CIPA; 2022. p. 19–27. DOI: 10.1007/978-981-16-5854-9_3.
  12. He Lanyin, Cheng Tianting. [Strategic choice of digital economy to promote high-quality economic development]. Journal of Commercial Economics. 2021;10:189–192. Chinese.
  13. Cai Zhenmei, Zhang Qiangiang. [Digital economy accelerates the change of China’s economic development power model]. Qigihaer daxye xuebao (zhexue shehui kexue ban). 2020;11:72–78. Chinese. DOI: 10.13971/j.cnki.cn23-1435/c.2020.11.018.
  14. Lan Quingxin. [Digital economy is an important driving force for world economic development]. Renmin Luntan Xueshu Qianyan. 2020;8:80–85. Chinese. DOI: 10.16619/j.cnki.rmltxsqy.2020.08.007.
  15. Jan Deli. [Cloud computing is a source of power to drive the development of digital economy]. China Internet. 2019;1:36–37. Chinese.

Downloads

Additional Files

Published

2022-11-15

Issue

No. 2 (2022): Journal of the Belarusian State University. Economics

Section

O. Economic Development, Innovation, Technological Change, and Growth

License

The authors who are published in this journal agree to the following:

  1. The authors retain copyright on the work and provide the journal with the right of first publication of the work on condition of license Creative Commons Attribution-NonCommercial. 4.0 International (CC BY-NC 4.0).
  2. The authors retain the right to enter into certain contractual agreements relating to the non-exclusive distribution of the published version of the work (e.g. post it on the institutional repository, publication in the book), with the reference to its original publication in this journal.
  3. The authors have the right to post their work on the Internet (e.g. on the institutional store or personal website) prior to and during the review process, conducted by the journal, as this may lead to a productive discussion and a large number of references to this work. (See The Effect of Open Access.)

How to Cite

[1]
Rong, L. and Gospodarik, C.G. 2022. Accelerating the change in China’s economic growth model under the influence of the digital economy. Journal of the Belarusian State University. Economics. 2 (Nov. 2022), 93–101.