The Impact of the Digital Economy on the Development of China's Service Trade
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The Impact of the
Digital Economy on
the Development of
China's Service Trade
Yingying Wang
School of Economics and Management,
Shanghai Maritime University, Shanghai, China
Email: wangyy@shmtu.edu.cn
How to cite this paper: Wang, Y.Y. (2024). The Impact of the Digital Economy on the Development of China's Service Trade. Modern Economy, 15, 1-13. https://doi.org/10.4236/me.2024.151001
Received: December 1, 2023
Accepted: January 19, 2024
Published: January 22, 2024
Copyright © 2024 by author(s) and Scientific Research Publishing Inc.
This work is licensed under the Creative Commons Attribution International License (CC BY 4.0).
http://creativecommons.org/licenses/by/4.0/
Abstract
With the rapid development of digital technology, the digital economy has become an important driving force for economic growth. This study aims to explore the impact of the digital economy on the development of China's service trade. By analyzing panel data from 2011 to 2020, we find that the digital economy significantly promotes the development of service trade. Specifically, the digital economy enhances the efficiency of service trade through technological innovation, reduces transaction costs, and expands market access. Furthermore, the positive effect of the digital economy on service trade is more pronounced in regions with higher levels of economic development and better infrastructure. These findings provide valuable insights for policymakers to leverage the digital economy to boost service trade and achieve sustainable economic growth.