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Perspective on the Digital Development of Enterprises from the Third Plenary Session of the 20th Central Committee
Company News|2024-07-27|News Center|SIE

The Third Plenary Session of the 20th CPC Central Committee deliberated and passed the Decision of the CPC Central Committee on Further Comprehensively Deepening Reform and Promoting Chinese path to modernization (hereinafter referred to as the Decision). The full text repeatedly mentions the two keywords of "digitalization" and "data". The "Decision" continues the initiative of "cultivating a unified national data market", supports enterprises to enhance "new quality productivity" through "digital intelligence technology", and proposes directions such as "promoting the integration of the real economy and digital economy", bringing new requirements and inspirations to the direction of enterprise digital development.


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List of Key Points for Digital Development in the Decision




Data Market and Trading

•  Cultivate a national integrated technology and data market

•  Accelerate the establishment of a system for recognizing, trading,distributing, and protecting data property rights

•  Establish an efficient, convenient, and secure mechanism for cross-border data flow

•  Establish a sound market contribution evaluation mechanism for data as a production factor






The coordinated development of digital economy and real economy

•  Digitization+Traditional Industries: Supporting enterprises to use digital technology to transform and enhance traditional industries; Promote the digital transformation of traditional infrastructure

•  Digitization+Advanced Manufacturing Industry: Promoting the high-end, intelligent, and green development of manufacturing industry; Build a common technology platform for the industry, develop the industrial Internet, and create a digital industrial cluster with international competitiveness






Multi industry digital innovation

•  Digital Finance: Actively Developing Digital Finance and Strengthening High Quality Financial Services

•  Digital Trade: Innovate and develop digital trade, promote the construction of cross-border e-commerce comprehensive pilot zones

•  Digital Education: Advancing Education Digitization and Empowering the Construction of a Learning Society






Guarantee for the Development of Digital Economy

•  Build and operate national data infrastructure to promote data sharing

•  Enhance data security governance and regulatory capabilities

•  Strengthen the construction of multilateral cooperation platforms in the field of digital economy

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Key to the Digital Development of Enterprises













Under the guidance of digital development at the national level, we will further focus on the development of enterprises themselves and the process of digital transformation, and pay attention to the key and opportunities that enterprises face in the process of promoting digitalization.



Position determination

The Decision stipulates that there are differences in the digital orientation of industries at different stages of development. In the context of different digital processes in various industries and enterprises, enterprises should position themselves and their industries at different stages of digital development and implement corresponding development strategies.

Traditional industry enterprises mainly focus on gradual optimization. For traditional industry enterprises, especially small and medium-sized enterprises, digitization is regarded as the core means of industry transformation, optimization, and upgrading. The primary focus should be on the migration and introduction of mature digital management tools and digital technologies, focusing on key business needs, improving production efficiency, reducing costs, expanding markets, enhancing customer experience, and accelerating the gradual adaptation and integration of digital technology with industry business development models.

Frontier industry enterprises seek profits through disruptive innovation. In industries that already have a good foundation for digital development and fully utilize digital technology, more attention should be paid to how to accelerate data accumulation and industrial chain integration through digital technology, achieve industrial cluster construction, and use data as a production factor and value engine to create new and disruptive production research and development models and business models.







Seize the opportunity

In line with the direction of national digital development, pay attention to the new business models and product opportunities that may arise from "digitalization+business". Based on the key points of digital development in the Decision, we will lay out our products in advance and create new growth points for enterprise value.

Explicit business opportunities

Explicit business opportunities refer to industry or enterprise development opportunities that are clearly associated with digital technology in the Decision.

(1) Data products. With the further improvement of the data trading market, the value of internal and external data obtained by enterprises through their own production and operation, as well as industry data sharing, can be further amplified. By relying on the enterprise data foundation, the intrinsic value of data can be explored, and through data sorting, precipitation, and standardization, industry data products or services can be provided. In this process, attention should be paid to clarifying data property rights and protecting data security.

(2) Platform products. Adapt to the platform economy model, focus on the development of industrial clusters and the coordinated development of industrial chains, actively incubate and construct industrial platforms based on industry characteristics to better connect upstream and downstream enterprises, create an information hub for customers, suppliers, and related ecological partners, consolidate their own business foundation, and achieve ecological effects such as service model innovation and resource sharing.

Hidden Value Opportunities

Hidden value opportunities refer to development and transformation opportunities that enterprises can empower and achieve their goals through digital technology, although not explicitly linked to digitalization in the Decision.

(1) Technological innovation. Against the backdrop of the gradually strengthening position of enterprises as the main body of technological innovation, digital technology can better assist enterprises in the integration of industry, academia, research and development, collaborative research and development, and the allocation of elements in the research and development process. Through various scientific and technological innovation platforms, it can promote the integrated development of enterprise technological innovation and industrial innovation.

(2) Green and low-carbon. Digital technology has a significant promoting effect on the green development of enterprises. With the help of IoT, Internet, AI and other technologies, enterprises can, on the one hand, achieve accurate production environment control and reduce energy consumption and pollutant emissions in the production process; On the other hand, it can quantify and account for environmental information, participate in information disclosure, and enhance the economic and social benefits of enterprises.

(3) Compliance management. Accurately obtaining enterprise management data through digital technology and transparently disclosing the corresponding scope provides pre -, during -, and post verification methods for strengthening enterprise compliance construction and integrity risk prevention and control.







Find the right support

(1) Financial support. The digital transformation and development of enterprises is a continuous and large-scale investment. Enterprises should actively pay attention to the financing, funding, and policy support that may be obtained by introducing digital means in the Decision and related policies. They should grasp a series of special measures to support digital development, including diversified financing channels for the digital transformation of traditional infrastructure and the construction of new infrastructure required for enterprise production, financing channels and funding support in the process of industrial digital development, and policy subsidies for digital product research and development.

(2) Personnel support. To ensure the sustainable development of enterprise digitalization, we should proactively focus on the introduction and cultivation of digital talents, and build a talent pyramid that includes digital management talents, digital technology talents, digital composite talents, and digital basic talents.




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