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Xinhua Finance: Digital technology lowers the cost of cross-border connectivity and builds a global innovation network


Chongqing, China (ots/PRNewswire) – The importance of digital technology is becoming increasingly clear as the economy develops. At the Jiangbeizui New Financial Summit 2022, participating experts discussed how digital services can strengthen the entire industrial chain and what role the digital economy plays in today’s economy.

Jiang Xiaojuan, a member of the Standing Committee of the 13th National People’s Congress, vice chairman of the Social Construction Committee of the National People’s Congress and president of the Chinese Society for Public Administration, believes that digital manufacturers can embed various services needed in the industrial chain to improve the efficiency of the entire production chain. For example, the industrial Internet can be supplemented with connections for financial services, connections for smart procurement, market-side smart inventory, and connections for customer service.

Christopher Pissarides, 2021 Nobel Prize winner in economics and professor of economics at the London School of Economics and Political Science, said that unlike previous technological breakthroughs, digital technology is impacting all sectors, not just specific industries. Moreover, digital technology is spreading faster than any other technology before it.

“Innovative companies can use digital platforms to combine different elements and improve their innovation efficiency. As technology rapidly evolves and requires a large data base, innovation increasingly requires extensive collaboration. Digital technology lowers the cost of cross-border connections and forms a global innovation network,” said Jiang Xiaojuan.

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Qian Diao,
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The post Xinhua Finance: Digital technology lowers cost of cross-border connectivity, builds global innovation network appeared first on TOP News Austria – News from Austria and around the world.


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