Digital economy is the “No.1 Project” for the high-quality development of Zhejiang. In recent years, Zhejiang has laid out a number of heavyweight industries designed to chart the course for the future in the fields of cloud computing, big data, artificial intelligence, Internet of things, industrial Internet, and 5G.

In 2022, the added value of the core industries of the digital economy reached 897.7 billion yuan, with an increase of 6.3%, accounting for 11.6% of the regional GDP. The revenue of the digital economy’s core industries above designated size has passed 3 trillion yuan mark. There are a total of 175,000 5G base stations in operation, which have enabled every administrative village to have access to 5G network.

In 2022, 6 cities including Hangzhou were included in the digital RMB pilot areas. The value of transactions using the digital yuan in Zhejiang has exceeded 100 billion yuan. The World Internet Conference and the first Global Digital Trade Expo in 2022 were successfully held.