China Digital Economic Investment Association officially established

The China Internet Investment Fund, Sequoia Capital, Alibaba, Tencent, Baidu and more than 50 other companies, officially established the China Digital Economic Investment Association during the 5th International Internet Conference. This community is aiming to promote cooperation and the efficiency of digital investment by which to further spur the development of the digital economy. In 2017, the digital economy in China accounted for 32.9% of GDP at 2.72 billion yuan, ranking it as the second largest entity in the world.