What’s behind China's thriving digital economy?

The digital economy has been called the “third great economic revolution” after the agricultural and industrial revolutions. Data shows that China's digital economy reached 54 trillion yuan in 2023, accounting for nearly 43 percent of the country’s GDP. As China stands at a pivotal juncture in its economic transformation, the digital economy has emerged as a key driver in the overall economic landscape. What is driving China’s digital economy? What does its growth say about China’s economic policy? How is it reshaping China’s economy?