The world economy at present is characterised by digitalisation, where the digital economy based on next-generation information technologies such as big data, cloud computing, Internet of Things, blockchain and artificial intelligence have permeated almost all aspects of the economy.
Many countries including China and Malaysia endeavour to build and grow their digital economies. For instance, the China Academy of Information and Communications Technology reports that the scale of China’s digital economy value added has expanded to RMB45.5 trillion in 2021, a remarkable improvement from RMB2.6 trillion in 2005. Meanwhile, the digital economy policies and priorities of the Malaysian Government are primarily outlined in the Malaysia Digital Economy Blueprint (MyDigital).
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