Digital economy fuels China's equipment industry growth, boosting productivity in the west.
The study looked at how the digital economy affects productivity in China's equipment manufacturing industry. They found that total factor productivity (TFP) in this industry has been growing by 3.8% each year, mainly due to technological progress. The digital economy has a big impact on boosting TFP, especially in western China. However, the impact is less in eastern China. This means that the digital economy is helping the equipment manufacturing industry become more efficient and productive, especially in certain regions.