SIC’s President Xu Qiang was invited to the China-GCC Countries Forum on Industrial and Investment Cooperation in Xiamen on May 23-24, and gave a keynote speech at the special forum on Digital Economy Investment Cooperation.

Xu Qiang made three policy suggestions on utilizing data to enhance growth and foster new quality productive forces.

First, cultivating new quality productive forces by optimizing new elements of data. The multiplier effects of data with the characteristics of application for multi-scenarios and reusing by multi-agents contributes to the integration of massive data resources and all aspects of production, exchange, circulation and consumption, and the promotion of new quality productive forces. Second, cultivating new quality productive forces by optimizing new digital technology. The combination of digital technology and application scenarios benefits the cultivation and growth of emerging industries, and the deep integration of digital technology and the real economy is conducive to the transformation and upgrading of traditional industries. Third, cultivating new quality productive forces by enhancing digital infrastructure. The digital infrastructure is an indispensable foundation to digital China, digital economy and digital society. The rapid development of artificial intelligence puts forward a higher and more urgent demand for computing power, which plays a key role in consolidating the foundation of digital economy.

During the special forum, Xu Qiang also chaired a dialogue with the theme of “Seizing digital opportunities and building a multilateral digital economic community”, which aimed to further deepening the development consensus of GCC countries on exploring digital economy investment cooperation with China.