Industrial Internet: The Future of Digital Economy in China

02/25/2023 06:23 • Metaverse Matters • 99 views

It is reported that Huang Qifan, the former mayor of Chongqing, said at the Pearl Bay Financial Summit (2023) hosted by the China Finance 40 Forum on February 25 that under the situation of gradually saturated consumer Internet market space, the industrial Internet is an important development direction of the future digital economy, and also a powerful grip to promote China’s economic innovation, transformation and development. Relying on technologies such as the Internet of Things, blockchain, artificial intelligence and big data, industrial digital finance has made the upstream and downstream information and data of the industrial chain fully transparent and hard to tamper with; The first-hand data of full penetration and real-time tracking of assets can be obtained; Real-time monitoring and early warning of potential risks enable financial institutions to see and manage assets, significantly reducing the risk cost of financial services, and is expected to help small and medium-sized enterprises to obtain inclusive financial services in the future, as in the field of consumer finance.

Huang Qifan: Industrial digital finance is the next blue ocean of financial technology

Analysis based on this information:

Former mayor of Chongqing, Huang Qifan, spoke at the Pearl Bay Financial Summit hosted by the China Finance 40 Forum on February 25 about the future of the digital economy in China. Huang highlighted that with the gradually saturated consumer internet market, the development of the industrial internet is gaining importance as it unlocks new opportunities for China’s economic innovation, transformation and development.

This interpretation of the message suggests that industrial internet or the integration of new technologies such as the Internet of Things, blockchain, artificial intelligence, and big data in the traditional industrial sector can bring significant advantages to the Chinese economy. One such advantage is the transparency and tamper-resistant nature of data, which helps to reduce risk costs, manage assets effectively, and provide inclusive financial services to small and medium-sized businesses.

The message implies that the industrial internet has the potential to revolutionize China’s traditional industrial sector by providing real-time data, monitoring, and early warning system that can help financial institutions manage risks, increase transparency, and gain a competitive edge. This is particularly significant given the ongoing global economic disruptions following the COVID-19 pandemic, which has highlighted the need for more agile and flexible economic models to succeed in the modern business environment.

In conclusion, Huang Qifan’s message at the Pearl Bay Financial Summit highlights the importance of the industrial internet in driving China’s economic innovation, transformation, and development for the future. The integration of new technologies such as the Internet of Things, blockchain, artificial intelligence, and big data in traditional industrial sectors could potentially unlock new opportunities for the Chinese economy, especially in the current global economic climate.

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Industrial Internet: The Future of Digital Economy in China

Huang Qifan: Industrial digital finance is the next blue ocean of financial technology

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