China Urges G20 to Regulate the Digital Economy

At the G20 summit in Rome, the Chinese president called on member countries to create a unified system regulating the digital economy.

During his key speech at the G20 summit, Xi Jinping encouraged his colleagues to strengthen international cooperation and create a global system for regulating the digital economy, Bloomberg reported.

According to the Chinese president, the G20 members should join their efforts to discuss and develop international rules to form an open and fair environment for digital development, taking into account the interests of all sides.

China’s plans to join the Digital Economy Partnership Agreement (DEPA) were also announced. Singapore, New Zealand and Chile have already signed the DEPA. The Canadian government is considering joining the organization as well. Statements by the president of China sounded amid preparations for launching a digital yuan (DCEP), the free circulation of which should start at the Beijing Winter Olympics in 2022.