Dig­i­tal econ­omy may cre­ate more than 400m jobs

China Daily (Canada) - - NEWS CAPSULE -

China’s dig­i­tal econ­omy is pre­dicted to cre­ate more than 400 mil­lion jobs by 2035, a new re­port has said.

In­ter­net-based econ­omy could be worth $16 tril­lion by then, ac­cord­ing to a Bos­ton Con­sult­ing Group re­port, re­leased at a new econ­omy sum­mit spon­sored by Alibaba Group.

Alibaba, China’s big­gest on­line trader, is ex­pected to gen­er­ate over 100 mil­lion of those jobs, ac­cord­ing to the re­port, with 30 mil­lion cre­ated since 2003.

As jobs are cre­ated, dig­i­tal tech­nol­ogy like cloud com­put­ing and ar­ti­fi­cial in­tel­li­gence will re­place more and more man­power, the re­port said.

Mean­while, 20 per­cent of the world’s pop­u­la­tion will be­come self-em­ployed or free­lance via the in­ter­net in the next decade, Alibaba Vice-Pres­i­dent Gao Hong­bing said at the sum­mit. The dig­i­tal econ­omy will sur­pass the man­u­fac­tur­ing sec­tor in scale and ac­count for a quar­ter of the world’s econ­omy, Gao said.

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