With deepening collaboration in various fields, the digital economy has become a highlight of the cooperation between China and Latin American and Caribbean (LAC) countries in recent years. As an integral part of the Belt and Road Initiative (BRI), the Digital Silk Road holds growing significance and influence in promoting the global digital economy, and has opened up broad prospects for collaboration between China and LAC countries.
On the afternoon of November 2, during the 16th China-LAC Business Summit, the China-LAC Digital Economy Cooperation Session was held. Tang Jianguo, Deputy Director of the Beijing Big Data Center, elaborated on how Beijing entrepreneurs capitalize on the opportunities of the BRI to bring Beijing’s advanced digital technologies and excellent digital products to the people of LAC countries.
Today, as the digital economy has become a global focal point, countries worldwide are exploring paths for its high-quality development by leveraging their unique strengths. LAC countries are among the most promising regions for the digital economy, and the launch of the Digital Economy Partnership Agreement (DEPA) by Chile, the world’s first regional agreement on the digital economy, signifies the ambition of LAC countries to embrace the new digital era.
According to Tang, Beijing has also been an active participant in the development of the digital economy. Since the release of the Implementation Plan on Accelerating the Building of a Global Model City for the Digital Economy in July 2021, the city has been boosting the high-quality development of the digital economy in an all-round way featuring openness, inclusiveness, and global competitiveness. In the first three quarters of this year, the added value of Beijing’s digital economy reached 1,406 billion yuan, up 8.3 percent year on year, accounting for 44.3 percent of the local GDP. Notably, the figure for core industries was 822.67 billion yuan, an increase of 10.6 percent.
Tang also highlighted several priorities for further cooperation between Beijing and LAC countries in the digital economy.
First, digital infrastructure. LAC countries are striving to upgrade their digital infrastructure and deploying 5G technology. Beijing, on the other hand, due to its mature technology and rich experience in digital infrastructure, has been recognized as one of China’s first “Gigabit Cities” with the largest number of 5G base stations per 10,000 people nationwide. It has accumulated a wealth of experience in building 5G base stations in various scenarios, setting an example in digital infrastructure with Chinese characteristics. As a result, Beijing can provide high-quality digital infrastructure services to LAC cities, helping to bridge the digital divide.
Second, e-commerce. The fast-growing demand for e-commerce in LAC countries offers historic opportunities for the coordinated development of cross-border e-commerce and related industries between the two sides. DiDi, the Beijing-based ride-hailing platform offers high-quality mobility services in more than 1,000 cities in LAC countries. Beijing is ready to share its experience in operating e-commerce platforms in more areas with LAC countries, provide comprehensive e-payment solutions, improve public services, and develop safer and more convenient payment channels. This will create more opportunities for LAC enterprises to start businesses and innovate.
In addition, joint efforts will be made to explore the path of industrial transformation empowered by digital technology. Traditional industries in LAC countries, such as agriculture, mining, and healthcare, are now moving into the digital age. Beijing houses numerous top-notch information system integration enterprises with diversified industry-specific solutions and extensive practices in healthcare, green energy, agriculture, and manufacturing. Therefore, Beijing is committed to helping LAC countries digitalize their traditional industries and is confident in creating “lighthouse factories” and a digitization model for the region, ultimately bringing a high-quality digital life to local people.
Furthermore, a platform for international exchanges and cooperation will be built. At the Global Digital Economy Conference 2023 held in July this year, Beijing and 18 cities around the world jointly launched the Global Digital Economy Partner City Cooperation Initiative, aiming to build a digital economy innovation network among cities. It is expected that more LAC countries will join the initiative to work together on the rules and standards for the circulation of data as a factor of production, unlock the value of data assets of each country in a safe and controllable manner, and facilitate the orderly flow of data across borders, so that the data market will further prosper.
“We sincerely hope that government officials and entrepreneurs in LAC countries will understand and join Beijing’s efforts to build a global model city for the digital economy. We also encourage Beijing entrepreneurs to ride the wave of the BRI to take Beijing’s advanced digital technologies and excellent digital products to the people of Latin America and the Caribbean. Together, let’s build a maritime digital silk road between the two sides and write a new chapter in the global digital economy”, added Tang.
