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Optics Valley moves to boost online new economy

Updated: 2020-06-11 Weibo Weixin Qzone Facebook Twitter More

The East Lake High-tech Development Zone -- also known as Optics Valley and located in Wuhan, capital of Central China's Hubei province -- is moving to boost the development of its online new economy, according to officials.

On June 6 it introduced a plan of 20 measures to promote the digital transformation of industries and its online new economy.

Officials said the aim was to grasp the opportunities presented by the digital economy and meet the needs of the digital transformation and development of industries.

The online new economy is a new business model with online, intelligent and interactive properties.

It is deeply integrated with modern production and manufacturing, business finance, cultural and entertainment consumption. It is also involved in education and health, sales and travel with the help of artificial intelligence, 5G, internet, big data, block chain and other intelligent interactive technologies.

According to zone officials, the plan will focus on the development of the specific areas of online education services, online entertainment, online health care, new retail, intelligent travel and online R&D and design.

The plan also sets the goal to initially realize the industrial digitization transformation in the zone by 2025.

It will strive to develop itself as a core area of the national digital economic innovative development pilot zone -- and build the zone into an online new economic development highland with international influence and first-rate operations in China.

In addition, the plan also puts forward the target  that the online new economy of the zone should exceed 300 billion yuan ($42.43 billion) in size and at the same time, cultivate and introduce a batch of online new economic market players and launch 100 application scenarios.

Here is the outline of the 20 measures of the plan:

1. Take digitalization as the primary driving force, to promote industrial transformation and upgrading and develop an online new economy.

2. Set up three main goals for development of the online new economy.

3. Optimize the development of online education services.

4. Innovate the development of the online cultural and entertainment industry.

5. Promote the development of online medical service.

6. Promote the development of new retail.

7. Develop intelligent travel.

8. Accelerate the development of online R&D and design.

9. Introduce and cultivate a number of leading enterprises.

10. Cultivate a group of leading companies, unicorn enterprises, gazelle companies and start-ups with strong innovation ability, high technology levels and great development potential.

11. Speed up the construction of a big data "Optics Valley Brain".

12. Accelerate the construction of new digital infrastructure.

13. Create multiple and open applications scenarios.

14. Promote the construction of specialist industrial parks.

15. Promote data sharing and opening up and innovative applications.

16. Introduce and train innovative talents.

17. Increase financial support.

18. Strengthen the organization and leadership of relevant government departments.

19. Strengthen support from government funds.

20. Implement an inclusive and prudent regulatory approach.

For more details about the plan, please click on the link: https://mp.weixin.qq.com/s/Zxj2QpSi6rcfWlsX3W08mQ