Digital China
With 1 billion smartphone users and over 1.15 million 5G base stations installed, China ranks as the world’s second-largest digital economy, amounting to amassive 4.6 trillion yuan in 2021, or 40% of Chinese GDP. It more than doubled from 2016 to 2021. China believes that building a digital economy, a digital society and a digital government could improve Chinese citizens’ lifestyles and, in turn, their confidence in Chinese government.
DIGITAL CHINA IS MUCH MORE THAN E-COMMERCE
Speaking of Digital China, many immediately think of Chinese e-commerce giants, like Alibaba. But it is more than that. It covers a wide range of industries, including data infrastructure, semiconductors, telecom services, the industrial internet of things, smart manufacturing, ecommerce, and data management. In daily life, it also means big-data-empowered innovation, smooth access to public services, safe and connected cities, and more digital-wise farmers and workers. Digital China has a wide scope encompassing citizens’ everyday work and lives.
"China is mobilizing the whole country to roll out its digital strategy. The digital economy accounts for 40% of Chinese GDP. Numerous beneficiaries of the digitalisation trend in China are already appearing."
EXAMPLE– SMART PARKING
Hangzhou is the capital city of Zhejiang Province, with more than 12 million residents. In Hangzhou, 75% of the parking lots are connected to the city parking system. Drivers can get the number of available parking lots in real time and are allowed to pay after leaving, which alleviates the parking jam problem in this heavily populated city. Assuming that it takes 30 seconds for drivers to pay, the “pay later” service have saved a total of 1.25 million hours since 2019. The CAGR of China’s smart parking sector is around 20% from 2016 to 2022.
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ODDO BHF AM Digital China
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Press Contact :
Gunther De Backer
About ODDO BHF Asset Management
With €54 bn assets under management as of December 31, 2022, and 4 investment centres based in Paris, Düsseldorf, Frankfurt, and Luxembourg, ODDO BHF AM is a leading asset manager in Europe and part of the Franco-German financial group ODDO BHF that was founded in 1849. It comprises ODDO BHF AM GmbH in Germany, ODDO BHF AM SAS and METROPOLE Gestion in France, and ODDO BHF AM Lux in Luxembourg. ODDO BHF AM offers investment solutions in equities, fixed income, asset allocation, private equity and private debt to institutional clients and distribution partners. ESG integration, exclusions and active ownership are the 3 pillars of our sustainability strategy recognized for its quality and reliability through the labelling of our funds by independent bodies, and the awards obtained. ODDO BHF AM relies on a strong local presence in major European cities and in-depth knowledge of the markets in which the management company invests. ODDO BHF AM’s investment style is characterized by an active and long-term investment approach with the aim to create long-term and sustainable value for its customers. To do so, ODDO BHF AM has been integrating ESG (environmental, social and governance) criteria into its investment processes for more than ten years. Accordingly, clients have access to a wide range of sustainable financial solutions across all asset classes.
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