Chinese Network Space Research Institute Baijiang: China's mobile payment transaction volume and online retail market scale rank first in the world.

On November 8th, at the press conference of the release of the blue book of the 2025 World Internet Conference Wuzhen Summit, Bai Jiang, Vice President of the China Internet Research Institute, stated that China's digital economy has significantly promoted high-quality development in the past five years. Bai Jiang introduced that by the end of 2024, the added value of China's core digital economy industries accounted for 10.4% of the GDP, achieving the goal set in the 14th Five-Year Plan ahead of schedule. The digital transformation and intelligent upgrade extend to the entire industry chain, with China's industrial internet core industry scale surpassing 1.5 trillion yuan. The contribution rate of agricultural technological progress has reached 63.2%. The digitalization of the service industry has become an important driving force for expanding domestic demand and promoting consumption. In 2024, the amount of mobile payments reached 563.7 trillion yuan, online retail sales reached 15.23 trillion yuan, and China ranked first in the world in terms of mobile payment transaction volume and online retail market size.