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China to boost online information consumption

Published on 08/25 2017  Source: Xinhua

 

An employee scans a quick response (QR) code displayed on Alipay app at a store in Hong Kong.[Photo/VCG]

BEIJING - China will bolster online information consumption in the next few years as part of an effort to stimulate domestic demand and shore up economic growth.

By the end of 2020, the consumption of online information products and services is expected to grow at an annual pace of at least 11 percent to reach 6 trillion yuan (around $900), according to a guideline released by the State Council Thursday.

Online information consumption stood at 3.9 trillion yuan last year, contributing 0.26 percentage point to the country's 6.7-percent year-on-year GDP growth.

It has become one of the most innovative, rapidly-growing and widely-adopted economic spheres that is significant to driving domestic demand, creating jobs and pushing forward industrial upgrades, the document said.

"Information technology playing a bigger role in consumption will boost the combined output of related industries to 15 trillion yuan in 2020," the document said.

It specified favorable measures and support for sectors, including intelligent electronics, online education and medical treatment, e-commerce, 5G mobile network, and telecom services in rural areas.

China will create a sound business environment by adopting inclusive and prudent regulation, cutting red tape, and improving the protection of personal information and intellectual property.