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Comparative Analysis of Digital Economy-Driven Innovation Development in China: An International Perspective

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Yafang Shi
Yafang Shi
Yafang Shi
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Fuxiang Wei
Fuxiang Wei
Fuxiang Wei
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Abstract and Figures

The emergence of e-commerce, digital technology, and the internet have all contributed to a revolutionary shift in the global landscape toward the digital economy, which is driving inventive development on a global scale. Simultaneously, China’s digital economy has entered a phase of high-quality development and has become a key driver of the global economic recovery. On the other hand, maintaining sustainability presents difficulties for the traditional growth paradigm. This paper explains the complex relationship between innovation and the digital economy across industries, economies, organizations, and innovation ecosystems by methodically reviewing the body of research on the topic. This report provides important recommendations through a comparative examination of digital economy strategy, current status, and difficulties across leading industrialized nations and China. These include developing all-encompassing plans, establishing strong regulatory frameworks, streamlining management procedures, and encouraging technology advancements and applications to strengthen the groundwork for China’s innovation development powered by the digital economy. Furthermore, this research advances the knowledge economy by aligning with the changing dynamics of digital transformation and innovation-driven growth.
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Vol.:(0123456789)
Journal of the Knowledge Economy
https://doi.org/10.1007/s13132-024-02128-z
1 3
Comparative Analysis ofDigital Economy‑Driven
Innovation Development inChina: AnInternational
Perspective
YafangShi1· FuxiangWei2
Received: 10 November 2023 / Accepted: 6 June 2024
© The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature
2024
Abstract
The emergence of e-commerce, digital technology, and the internet have all con-
tributed to a revolutionary shift in the global landscape toward the digital economy,
which is driving inventive development on a global scale. Simultaneously, China’s
digital economy has entered a phase of high-quality development and has become a
key driver of the global economic recovery. On the other hand, maintaining sustain-
ability presents difficulties for the traditional growth paradigm. This paper explains
the complex relationship between innovation and the digital economy across indus-
tries, economies, organizations, and innovation ecosystems by methodically review-
ing the body of research on the topic. This report provides important recommenda-
tions through a comparative examination of digital economy strategy, current status,
and difficulties across leading industrialized nations and China. These include devel-
oping all-encompassing plans, establishing strong regulatory frameworks, streamlin-
ing management procedures, and encouraging technology advancements and appli-
cations to strengthen the groundwork for China’s innovation development powered
by the digital economy. Furthermore, this research advances the knowledge econ-
omy by aligning with the changing dynamics of digital transformation and innova-
tion-driven growth.
Keywords Digital economy· Innovation development· High-quality development·
Comparative analysis· China· Global economy
* Yafang Shi
shiyafang3436@163.com
1 Accounting Department, School ofManagement, Tianjin Normal University, Tianjin300387,
China
2 Marketing Department, School ofManagement, Sehan University, Mokpo58613, Korea
Content courtesy of Springer Nature, terms of use apply. Rights reserved.
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