The Digitalization of Chinese SMEs and Its Economic Effects
The term “digital economy” refers to a series of economic activities that treat digital knowledge and information as key factors of production,make modern information networks as crucial carriers of productivity,and use information and communication technologies to increase efficiency and to optimize the economic structure. Currently,given the technological revolution,the adjustment of the economic structure and the outbreak of COVID-19 pandemic,the digital economy has become a new form of the economy,following the agricultural economy and the industrial economy.
According to China’s Digital Economy Development Report (2022),which was released by the China Academy of Information and Communications Technology (CAICT),the total size of the Chinese digital economy reached 45.5 trillion yuan,accounting for 39.8% of GDP in 2021. In other words,the digital economy has played a crucial role in the development of the national economy.
In the context of the development of the digital economy,an increasing number of enterprises have gradually carried out a digital transformation. By using artificial intelligence,big data,cloud computing and other digital technologies,enterprises can transform and upgrade their organizational management,business circulation and other activities,as well as develop new competitive advantages. The current studies have shown that the application of digital technology can improve firm performance,accelerate the specialization of work and increase the achievements and efficiency. In addition,the application of digital technology not only promotes the development of enterprises but also has a significant effect on the macroeconomy.
The APEC SME Information Promotion Center,Beihang University and other units jointly released the 2021 Digital Index Report on Small and Medium-Sized Enterprises. The index measures the digitalization level of SMEs by measuring the breadth and depth of their application of digital and information technologies in their organization,business and industrial interactions. Drawing on this report,this article analyzes the characteristics of Chinese SMEs’ digital development and the impact of that digitalization on the macroeconomy.