Industrial Digitalization and Domestic Circulation
The new development paradigm with domestic circulation as the mainstay and domestic and overseas circula-tions reinforcing each other represents a significant decision made by the Central Committee of the Communist Party of China with Xi Jinping as its core.This decision is made based on the stage of China's development,environmental changes,and prevailing conditions.A robust and reliable domestic circulation is the cornerstone ensuring the stability and sustained development of China's economy amidst a complex external environment.It is also crucial to promote steady economic growth and achieve high-quality development in China.In the context of accelerated reform of the new genera-tion of information technology and rapid integration of the digital economy with the real economy,this paper,from the perspective of industrial digitalization,explores whether industrial digitalization can enhance the resilience and reliability of the domestic economic circulation by improving supply quality and expanding domestic demand,thus providing theo-retical references and policy suggestions for accelerating the establishment of the new development paradigm.Based on large multinational industry panel data covering 43 economies and 56 industries from 2000 to 2014,com-piled from world input-output tables,this paper calculates,by using the input-output method,industrial digitalization level and domestic economic circulation indicator both at the national-industry level.The study finds that China's second-ary industry has a high level of digitalization,while the tertiary industry lags behind the major developed countries.China's primary industry has a good domestic circulation degree,but there is room for improvement in the final product link of the secondary industry and domestic circulation of the tertiary industry.Enhancing domestic demand and final product quality is key to boosting the endogenous dynamics of domestic circulation.On both supply and demand sides,in-dustrial digitalization can facilitate domestic circulation by improving total factor productivity,intermediate goods qual-ity,and average wage levels,thereby enhancing the resilience and reliability of domestic circulation.In terms of heteroge-neity,the impact of industrial digitalization on domestic circulation is more pronounced in the primary industry.For China,the improvement in the level of industrial digitalization can not only enhance the endogenous dynamics of domes-tic circulation but also help improve China's self-sufficiency rate of core technologies and break through core technologi-cal bottlenecks,thus achieving economic self-reliance and strength.The possible marginal contributions of this paper are as follows.Firstly,from the perspective of research,there is a lack of quantitative studies on the new development paradigm,particularly concerning its promotion through industrial digitalization.This paper is the first to focus on the theoretical and empirical relationship between industrial digitalization and domestic circulation,enriching the research related to digital transformation and the new development paradigm.Sec-ondly,it quantitatively compares China and major developed countries in terms of the industrial digitalization level and domestic circulation level,and sets out related typical facts,providing references for understanding the global position of China's industrial digitalization and domestic circulation.Thirdly,in terms of theoretical mechanisms,it explores the im-pact of industrial digitalization on domestic circulation through three channels,namely productivity,intermediate goods quality,and income.Lastly,in terms of policy implications,on the demand side,the future focus of domestic circulation should be on steadily increasing the disposable income of residents,expanding domestic demand,and strengthening the demand for domestic final and intermediate goods;on the supply side,a high-quality domestic supply system should be built to improve the quality of domestic products and services,with a more flexible and efficient supply system to meet the upgrading domestic needs.In addition,it highlights the critical role of digital transformation in enhancing domestic demand and improving the supply system,with industrial digitalization supporting the mutual reinforcement of domestic and international circulations.
Industrial DigitalizationDomestic CirculationIntermediate Product SupplySelf-sufficiency Rate of Core Technologies
NETL
NSTL
万方数据
