Recently, CCID Consulting released the 2023 China Digital Economy Development Index (Deyang Index), which shows that since the fourth quarter of 2017, the overall digital economy in China has shown a vigorous and upward development trend. In the fourth quarter of 2022, the total index reached 202.3, breaking the 200-pilot mark for the first time, which is 1.8 times higher than the fourth quarter of 2018.

The index shows that the leading range of China‘s digital economy development index has been constantly expanding since it surpassed the GDP index in 2018. The development of the digital economy presents a three-wheel drive trend of innovation, digital industry, and digital governance. From 2018 to 2022, the three indicators of innovation driving force, digital industry, and digital governance saw the fastest growth. Among them, sustained technological innovation is an important driving force for the development of the digital economy. From the perspective of innovation driving force indicators, the index value exceeded 150 for the first time in 2022, reaching 154.8 in the fourth quarter, a year-on-year increase of 35.5%.

From the digital industry point of view, the indicator value of the digital industry has doubled in the past four years. In 2022, the electronic information manufacturing industry will recover in an orderly manner, and the software industry's revenue will leap to 10 trillion Chinese yuan for the first time. In terms of digital governance, the indicator value in the fourth quarter of 2022 reached 259.3, a year-on-year increase of 13.5%. By October 2022, 208 government data open platform have been launched nationwide, including 21 provincial platforms and 187 city-level platforms.

In terms of the vitality of digital economy enterprise entities, the indicator value in the fourth quarter of 2022 reached 157.9, a year-on-year increase of 13.5%. The number of electronic equipment manufacturing enterprises and software enterprises has steadily increased. In addition, in 2022, the number of A-share IPO companies in China led the world, with an annual increase of 14.9% in the number of listed companies in the digital economy field, highlighting the vitality of corporate entities.

From the perspective of core industries of digital economy, the growth rate of fixed assets investment in electronic information manufacturing industry will remain above 18.0% from 2021 to 2022. The growth rate of fixed assets investment in the information transmission, software and information technology service industries turned negative to positive in the first quarter of 2022 and gradually increased, with a year-on-year growth of 21.8%. In addition, investment in digital infrastructure has further accelerated, with a total investment of over 400 billion Chinese yuan in the starting areas of 20 national data center clusters, accumulating new potential for the development of the digital economy.

CCID Consulting pointed out that from the perspective of the capital market, the activity of China's digital economy investment and financing market remains low due to the increasing uncertainty factors. However, in the fourth quarter of 2022, the capital heat index value stopped the downward trend and showed a slight rebound. The expected recovery of the capital market will inject more vitality into the development of the digital economy.