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China's labor is becoming expensive too, and more skilled. So, China needs to move away from setting up industries that basically service imports from East Asia. Instead, China should set up industries that are indigenous and can use innovation to produce new products. The country is already doing this quite well. China has beaten the US in 5G, and leads in artificial intelligence.
China's new economic momentum development index stood at 129.0 in 2015, up 29 percent year on year, according to Ning Jizhe, head of the NBS.
China's leadership has announced a series of measures to expand opening-up and has moved ahead to lower the import tariffs on vehicles and auto parts, anti-cancer drugs, and daily consumption goods, and to eliminate specific measures such as restrictions on the proportion of foreign ownership of banks and financial asset management companies. The country's initiatives in opening up the market have greatly reduced or even eliminated the doubts of the international community regarding the prospects of economic globalization, and have also injected new dynamism into the recovery of the world economy.
China's digital healthcare industry has embraced new opportunities as the nation has seen the largest application of digital healthcare methods and technologies, with the market space forecast to be worth several trillion yuan in the years ahead, a report said.
China's digital economy reached a total volume of 31 trillion yuan (.5 trillion), or 34.8 percent of its GDP, in 2018, according to the ministry.
来源：资阳报