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(Photo/People's Daily Overseas Edition)

New technologies such as 5G, big data, blockchain and artificial intelligence are growing vigorously in China and have become the driving force behind China's economic development.

The new round of technological revolution and industrial transformation has provided an important opportunity for the development of new economy enterprises in China. In addition, with the deepening of China's supply-side structural reform, many cities, represented by Xiamen, are actively creating a high-quality business environment and providing fertile ground for the development of new economy enterprises.

"The world's new industrial and technological revolution is in full swing. New technologies and industries such as 5G, artificial intelligence, big data, Internet of things, bioengineering and new energy are growing rapidly." said Yao Jingyuan, researcher at the Counselors’ Office of the State Council, at a recent conference on the development of new economy.

Yao added that in the process of the new industrial and technological revolution, China has taken the forefront of the world in some important fields. Under this background, the development of new economy should be a made an even higher priority.