digital economy | Pixr8 News

22Dec By Gauri SinghNo Comments

CHINA

China’s Digital Economy repotedly Hit $2.3 Trillion in H1

China's digital economy hit 16 trillion yuan ($2.3 trillion) in the first six months of 2018, which accounted for 38.2 percent of the country's overall GDP growth. Lu Chuncong, director of the academy, said despite booming growth, China's digital economy suffers from unbalanced and inadequate development. Data shows that in 2017 the province with the biggest digital economy was 64 times the size of the most underdeveloped province. Lu also mentioned that the service sector has undergone the biggest digital transformation in China, but that the industrial and agricultural sectors have been less affected by the inevitable trend. Development of the digital economy is listed as an important task for building a modern economic system in China and achieving high-quality development. In...

18Oct By Gauri SinghNo Comments

CHINA

China’s Digital Economy to Become World’s Largest

China is the largest economy of the world and now, the digital economy of the country is also expected to become the world's largest amid rapid development as stated by the Hong Kong E-Commerce Association Chairman Joseph Yuen at the second Beijing CED Internet Summit. The overall revenue of China's e-commerce, online travel, and digital media consumption in 2018 is estimated to reach $765 billion. Also, the number of people digitally connected globally will reach 4 billion by 2020. The number of connected devices will reach 25 billion, which means an average of one person has about six devices connected to the internet. China needs to open its market, transfer more scientific and technological achievements, and also cultivate talent in order to accelerate the growth of the digital e...

19Sep By Gauri SinghNo Comments

CHINA

China to Invest $14.6 Billion to Develop Digital Economy

The digital space all over the globe is emerging at a great pace, and thus, China has decided to invest $14.6 billion (100 billion yuan) for developing the digital economy in the next five years. According to an agreement signed by China Development Bank and the National Development and Reform Commission, this investment will be done on projects like big data, internet of things (IoT), cloud computing, smart cities and the digital Silk Road. The development of China’s digital economy has been stated as an important task for building a modern economic setup in the country. China has got a considerable progress in the cause over the past years by way of rolling out a raft of measures, including a national big data strategy. A report released by the Cyberspace Administration of China...

4Jan By RishabhNo Comments

INDIA

RBI To Issue Chocolaty New Rs 10 Notes

The Reserve Bank of India will be issuing new Rs 10 notes under Mahatma Gandhi series. The new Rs 10 notes will soon be available in chocolate brown color as the base with a picture of Konark Sun Temple. As per the source, the government has already printed around 1 billion pieces of the new Rs 10 note. It was only last week that the designed got approved by the government, which has not been changed since 2005. The new Rs 200 and Rs 50 notes were launched in August 2017 under the Mahatma Gandhi series. The aim of introducing new notes of lower denominations is solely to prevent counterfeiting of notes and promote digital economy. The government has been trying hard to promote digital money, i.e. payments by debit, credit cards or digital wallet in a bid to eliminate black money o...

16Jun By AdityaNo Comments

INDIA

Indian Government Will Launch Policies To Become USD 1 Trillion Digital Economy

The government will come out with three new policies, including electronics manufacturing and data protection, as part of its efforts to make India a USD 1 trillion digital economy in a few years. Speaking after a two-and-a-half hour meeting with Indian tech industry captains, IT Minister Ravi Shankar Prasad today exuded confidence that India is well-positioned to become a USD 1 trillion digital economy in next few years. "The industry has assured us that they are committed to support us in this mission... We will be shortly laying down the new electronics policy because between the old policy and now, India under Narendra Modi has changed completely," Prasad said. He added that the government will also come up with a new software product policy and a framework for data security a...

BHU Students Launch Drive to Make Campus Go Cashless

24Dec By Press Trust of IndiaNo Comments

INDIA

BHU Students Launch Drive to Make Campus Go Cashless

Banaras Hindu University students have launched a new campaign to encourage people to adopt digital payment methods inside the campus, with the varsity administration installing PoS machines at its hospitals here. The Mera Mobile Mera Batua drive by the students was launched yesterday, a day after Prime Minister Narendra Modi urged people here to shift toward electronic payment methods. BHU administration has initiated actions to install Point of Sale (PoS) machines at its 15 registration counters to receive money from patients. It has installed the machines at its medicine shops within the Sir Sunder Lal Hospital and Trauma Centre campus. Nearly 35 such machines have been provided by State Bank of India to the administration. Out of them, 20 have been installed at the hospital...