Why is Hangzhou the first city of the digital economy?

Why is Hangzhou called the "First City of Digital Economy"?

Is it because it is the "City of E-commerce," with a complete upstream and downstream supply chain?

Or is it because it is the "City of Live Streaming," with a rich live streaming industry chain? Or is it also the "City of Artificial Intelligence," being the first "new city" in the world to launch a "City Brain"?

All these reasons are valid, but they are not exhaustive. Becoming the "First City of Digital Economy" is challenging! Even Hangzhou has worked hard for 20 years.

As early as 2003, Hangzhou established the development goal of being the "Paradise of Silicon Valley, the Paradise of High Technology." By 2023, the core industries of Hangzhou's digital economy achieved a revenue of 1.8737 trillion yuan, ranking first in the country.

Last month, at the invitation of the Hangzhou Cultural Expo, we held a seminar on the theme of live streaming and short videos,

which is a new content derived from the Cultural Expo, discussing the future development trends of the digital economy with well-known local enterprises in Hangzhou, offering a glimpse into the ultimate answer of "Why Hangzhou."

As an important component of the digital economy, live streaming and short videos have also developed well in Hangzhou.

As the largest e-commerce capital in the country, Hangzhou had 63,000 sellers in 2023, with 1,045 cross-border e-commerce enterprises exceeding 20 million yuan in scale, and as many as 212 cross-border e-commerce enterprises exceeding 100 million yuan.

The digital economy further empowers Hangzhou, transitioning from "internal circulation" to "external expansion," moving from "linking the country" to "linking the world."

International cross-border e-commerce platforms such as Alibaba International Station, AliExpress, Laizanda, and Amazon Asia-Pacific Training Center have all settled in Hangzhou. Currently, Hangzhou has provided digital support for nearly 34 million small and medium-sized enterprises in nearly 220 countries and regions worldwide, serving over 300 million overseas consumers.

The development of the digital economy is inseparable from policy support.

In April this year, Hangzhou released support policies encouraging the live streaming economy; in July this year, Hangzhou again issued support policies for the entire artificial intelligence industry chain; in November this year, Hangzhou proposed the concept of "Digital Cultural Tourism," providing a better ecological environment for cultural tourism enterprises.

It can be said that the policy support and development environment in Hangzhou are the foundation for establishing the "First City of Digital Economy."

Over the long span of 20 years, Hangzhou has witnessed the rise of the e-commerce industry, the popularity of live streaming and short videos, the boom and decline of the metaverse, and how artificial intelligence has changed human society.

Behind every emerging field reflects Hangzhou's pioneering spirit and willingness to take risks.

This is also why Hangzhou can become the ultimate answer to the "First City of Digital Economy"!