Ammon News - China's digital economy hit 39.2 trillion yuan (approximate to $6 trillion) in 2020, according to China Internet development report 2021.

Released at the Wuzhen summit of the 2021 World Internet Conference on Sunday, the report indicated that the country's digital economy accounted for 38.6% of GDP, maintained a high growth rate of 9.7%, and became a key driving force for stabilizing economic growth.

"In 2020, the volume of e-commerce transactions recorded in China reached 37.21 trillion yuan, up 4.5 percent from 2019, while the operating income of the e-commerce service sector reached 5.45 trillion yuan, an increase of 21.9 percent year on year," according to the report.

"The digital economy has become a key option for countries around the world seeking to hedge against the impact of the COVID-19 pandemic and to speed up economic and social transformation," said a report on global internet development concurrently released on Sunday, adding that new information infrastructure has gradually become a new driving force for global economic growth.