Digital China: A Fourth Industrial Revolution with Chinese Characteristics?

This paper examines both the universal features and unique aspects of China's digitalization process. The impact of digitalization, domestically and in other Asian countries, is also explored. China's digital economy has grown rapidly since the end of the first decade of the 21st century, and compared to other countries with similar levels of economic development, China has a high rate of use of digital services. China's digitalization process is driven by both private companies and by the state's strategic initiatives, including social governance. China faces both opportunities and risks from digitalization. Workers in rural areas as well as older workers may face a higher risk of job loss through automation in the future. Chinese IT companies are eager to expand their activities both domestically and in foreign countries, and their investments in so-called "unicorn" companies in Southeast Asia are especially noteworthy.