China to cre­ate 400 mil­lion jobs

The Star Early Edition - - BUSINESS REPORT -

CHINA’S dig­i­tal econ­omy was pre­dicted to cre­ate more than 400 mil­lion jobs by 2035, a Bos­ton Con­sult­ing Group re­port said. In­ter­net-based econ­omy could be worth $16 tril­lion (R220trln) by then, ac­cord­ing to the re­port, re­leased at a new econ­omy sum­mit spon­sored by Alibaba Group on Satur­day. Alibaba was ex­pected to gen­er­ate more than 100 mil­lion of those jobs with 30 mil­lion cre­ated last year. As jobs were cre­ated, dig­i­tal technology such as cloud com­put­ing and ar­ti­fi­cial in­tel­li­gence would re­place more and more man­power, the re­port said. Mean­while, 20 per­cent of the world’s pop­u­la­tion would be­come self­em­ployed or free­lance via the In­ter­net in the next decade, Alibaba vice-pres­i­dent Gao Hong­bing said at the sum­mit. The dig­i­tal econ­omy would sur­pass the man­u­fac­tur­ing sec­tor in scale and ac­count for a quar­ter of the world’s econ­omy, he said. – Xin­hua

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