Core Insights - The digital economy in China is rapidly growing, with the core industries expected to account for about 10% of GDP by 2024 [1][2][19] - The core industries of the digital economy include digital product manufacturing, digital product services, digital technology applications, and data-driven industries [2][19] - In 2023, the added value of the digital economy's core industries reached 12.7555 trillion yuan, with significant contributions from various sectors [2][19] Industry Development - The number of enterprises in the digital economy core industries reached 4.5741 million by the end of November 2024, marking a 17.99% increase from the end of 2023 [3][19] - The growth in enterprise numbers reflects the acceleration of digital China construction and the increasing support of the digital economy for high-quality economic development [3][19] Technological Innovation - Technological innovation is a key driver for the development of the digital economy core industries, with significant advancements in areas such as 5G, artificial intelligence, and quantum computing [7][8] - In 2023, the number of invention patents authorized in the digital economy core industries reached 406,000, accounting for 45% of the total authorized patents in society [2][7] Infrastructure and Market Development - China has established the world's largest mobile communication and fiber broadband network, with 5G base stations reaching 4.251 million by the end of 2024 [4] - The online retail sales in China for 2024 are projected to be 15.5225 trillion yuan, reflecting a 7.2% increase from the previous year [4] Data Resource Utilization - The digital economy core industries have significantly improved the level of data resource development and utilization, providing advanced technology and tools for deeper data resource utilization [19] - The added value of the digital technology application industry was 5.56 trillion yuan in 2023, while the digital product manufacturing industry contributed 4.31 trillion yuan [19][20] Challenges and Recommendations - Despite the rapid growth, challenges remain, including a lack of specialized institutions, the need for improved technical levels, and the expansion of application ranges [20] - Recommendations include encouraging traditional enterprises to develop data businesses, enhancing collaboration among industry, academia, and research, and supporting enterprises in transitioning from business-driven to data-driven models [20]

Core Insights - The report highlights the promising growth prospects of digital economy unicorns in China, emphasizing their role as key indicators of innovation capability and ecosystem [1][2][3] - By 2025, unicorn enterprises will be explicitly mentioned in the government work report, focusing on nurturing innovative companies and supporting the growth of unicorns and gazelle enterprises [1] Group 1: Unicorn Enterprises Overview - Digital economy unicorns are characterized by high innovation capacity and growth potential, serving as a crucial pillar for the innovation and development of the digital economy [1][2] - These unicorns leverage high valuations to concentrate quality resources and maintain ongoing R&D investments, enabling them to break free from short-term return constraints [1][2] Group 2: Sectoral Insights - From 2015 to 2019, the majority of newly added digital economy unicorns were in internet platforms and digital content, indicating a rapid start for China's internet economy [2] - The proportion of unicorns in the digital product manufacturing sector is expected to rise from 20% in 2020 to 38% in 2024, reflecting a deep integration of digital technology and manufacturing [2] Group 3: Regional Distribution - In 2024, the East China region is projected to account for 40% of digital core industry unicorns, with the Yangtze River Economic Belt housing 269 digital economy unicorns [3] - The Beijing-Tianjin-Hebei region has seen a concentration of new unicorns in software development, while the Yangtze River Economic Belt has focused on digital product manufacturing [3] Group 4: Growth Drivers - The growth prospects for digital economy unicorns are supported by four key factors: solid innovation foundations, accelerated breakthroughs in diverse technology tracks, optimized innovation ecosystems, and improved innovation policies [3]