Digital economy park launched in Chongqing

The Chongqing Digital Economy Innovation Park was officially inaugurated on Saturday. It has been touted as China's first large-scale industrial project in digital economy since the country rolled out a plan for the overall layout of digital development earlier this year.

The park, with a planned area of 30 square kilometers, is located in Chongqing's Liangjiang New Area. The first 50 key enterprises, including China Electronics Data Service Co, Jointown Pharmaceutical Group, Zhuhai Orbita Aerospace Science and Technology Co and Sai MicroElectronics Inc, have signed agreements with the park and will participate in various data-related innovation projects.

Cheng Wendi, deputy secretary of the Chongqing Liangjiang New Area Party Work Committee, said the park is an important platform and carrier for developing digital economy and satellite internet industrial clusters. The overall revenues are expected to reach 100 billion yuan ($14.5 billion) by 2029. By 2032 the figure is expected to surpass trillions of yuan.

Yang Chunzhi, chairman of the park, said they have created an industry cultivation mode — including funding and policy support — for better achieving the park's development goals.

Don Tapscott, CEO of the Tapscott Group, attended the event and delivered a speech on global practices and the future of digitalization. He explained how the digital economy is becoming the real economy and discussed the importance of digital assets and citizens' sovereign identity.

A 10-billion-yuan industrial fund has been established for attracting top talent in related realms and promoting the industrial clusters, the park said.