Smart and sustainable economy: How COVID-19 has acted as a catalyst for China's digital transformation

ABSTRACT

Digital economy using internet, cloud computing, big data, as well as fintech in order to drive economic activities using digital information as a key factor for production has permeated all aspects of society as a result of unexpected onset of the COVID-19 pandemic. Recently, a white paper titled "The Development and Employment of China's Digital Economy in 2021" was released by The China Academy of Information and Communications Technology (CAICT), analyzing the development pattern of China's digital economy since the onset of COVID-19. This chapter summarizes the development of digital economy, the employment situation in various regions and industries in China, thereby making an in-depth analysis of the digital transformation of traditional industries along with putting forward policy suggestions for promoting further development of China's digital economy. Since the onset of COVID-19, China's digital and smart economy has ushered in creating new opportunities for growth and development as well as simultaneously combatting challenges in the macro environment. © 2022, IGI Global. All rights reserved.