The Driving Forces Behind the Phenomenal Rise of the Digital Economy in China
从需求和供给两侧解释中国数字经济的快速增长，强调需求侧因素、创新电商服务商、基础设施和政府政策的作用，并预测传统产业数字化转型将成为下一波浪潮。
ABSTRACT This research commentary responds to Jiang and Murmann (2022), by offering further explanations for the miraculous growth of the digital economy in China from both the demand and supply perspectives. To complement their views, we identify several additional important factors, and classify them in three categories in an explanatory model. We believe that factors on the demand side played a primary role, along with innovative and entrepreneurial e-commerce service providers on the supply side. Infrastructures and government policies provided the foundation and a facilitating environment. We conclude that digital transformation of traditional industries will become the next wave of digital economy, stronger than the previous wave of e-commerce. Implications for research and practices are also discussed. In addition, we highlight emerging trends and turbulences. In conclusion, despite short-term turbulences, we expect that the digital economy in China will make big-stride progress in the long term, with strong potential to continue its growth.