China booming digital economy is reshaping its most significant consumer market as technologies like big data and artificial intelligence revive traditional industries and help drive high-quality growth, as per my observed understanding in china’s digital economy, and it can bring countless opportunities for businessmen and women to make contacts, network, and plan future ventures. In my opinion China is actually a quite sentimental country, if you are very pessimistic, you cannot see the value for investment in future but if you are optimistic you are always excited about the future opportunities and you happy want to invest in future, here I would like to say China is a promising country, if you come to china as pessimistic you can never understand china instead you need to be positive in understanding China. The first thing when being asked from any foreigner about china, he or she immediately says “I am surprised” and this is due to the fact as china is very optimistic and sentimental country in the world. 

China has experienced the fastest sustained economic expansion in human history and which has elevated more than 800 million people out of poverty. If we combine all the statistics provided through the world in various formats, the most inspiring figures are “no country in the human history has ever lifted more people out of poverty than China” and that we should celebrate as a human being, and we should try to understand how such miracle had happened. China’s rise from a poor developing country to a significant economic power in about four decades has been spectacular, and this is due to the two most important aspects in my views, i.e. (a) Unity and (b) Relationship between state and society- which politically and culturally leads to the concept of “One Nation One System”. 

China’s digital economy has expanded rapidly in recent years, which uses internet technologies to empower industries and reshape citizens’ lives. China is expected to continue its rapid digitalization with its broad base of internet users, well-established online ecosystem, improve digital infrastructure and consumer-driven digitalization which will project to proceed. China ranks 50th out of 131 countries based on the World Bank digital adoption index, 59th out of 139 countries in the World Economic Forum index. China has become a global leader in some vital digital industries such as e-commerce and fintech. China’s tech giants have been rapidly expanding in overseas markets most notably in the payment industry, Alipay and WeChat Pay, the two popular third-party payment applications in China, are available at physical retailers in 28 countries and regions outside of China for Chinese tourists. Alibaba has set up a global platform connecting sellers and buyers from more than 200 countries. Chinese companies have also promoted the development of e-commerce and third-party payments in other countries by investing in local companies. Digital payment is now a norm in china, your mobile phone is considered to be your wallet, and more surprisingly it does not matter how much you have to pay; instead it’s a large transaction or a small number of payments, digital payment is here to help you. 

Digitalization has created millions of jobs in the new sectors. The booming e-commerce sector and the sharing economy have become a new engine for job creation in China. The rapid penetration of digital apps has promoted the development of the service industry, as the “Super-Apps” developed by the tech giants provide consumers a one-stop-shop for all services, ranging from entertainment, dining, to education and health. Digitalization has a profound impact on traditional industries and is exerting a positive influence on employment. Here I would like to mention the record braking online sale conducted on 11-11 means 11 November every year, which is considered the world most considerable revenue generated sale, adds in the prosperous concept of the digital economy. 

I have observed during my last two years stay in China that people in China have changed their demands and exceptions from various brands due to the e-commerce scenarios now people have more attitude towards spending, their attitude towards fashion trends have changed they are more attached towards the personal feelings and style instead following the trends blindly, citizens’ attitude towards brands have changed to uplift their self-image, now they are not inclined towards imported products rather prefer to use products fulfill their demands; this is the power of consumer market created due to the digital economy in China.      

Chinese digital economy previously was on the track of fast growth, but now the attitude is on the quality growth, Chinese policymakers are working hand-in-hand with businesses, academics, and the public to facilitate the transition to a digital economy. Recently Institute of Government Data Resources at School of Information Management, Nanjing University prepared a national report on Government E-Services Capability Index 2019 which highlights the electronic government growth in china. Concluding the discussion china digital economy is reshaping China as well as the whole world.