The role of internet plus strategy in china's economic development

Abstract

This article uses 2008-2019 time-series data and 2015-2019 panel data to investigate the effect of China's Internet development and Internet plus strategy on economic growth. In terms of industry, according to the industry classification of the National Bureau of Statistics of China and related industries mentioned in the literature about "Internet plus", six industry representatives were selected, including agriculture, manufacturing, wholesale and retail, transportation, and accommodation Catering industry, real estate industry. This study uses two econometric models to analyze this problem. First, this study uses the seemingly unrelated regression (SUR) model to simultaneously examine the impact of the Internet on the economic development of the six major industries in order to fully understand the impact of the development of the Internet. Secondly, this research uses panel regression model to analyze the effect of the Internet plus strategy on China's economy. The research results show that the development of the Internet in China has a significant impact on economic growth through the six major industries. Different Internet development indicators have different effects on various industries. Among the six major industries, the retail industry has the most obvious impact. The Internet plus strategy has a significant impact on the improvement of the level of enterprise informatization, and the level of informatization has a significant role in promoting economic growth. However, the application of enterprise-level e-commerce still has a lot of room for development. Also, the impact on the economy is still not significant. Therefore, if the strategy is to be extended and applied more widely, then both the government and enterprises should adjust the development model according to the existing results, according to different fields, for example Internet plus entrepreneurship and innovation to support small and micro enterprises, Internet plus collaborative manufacturing, Internet plus modern agriculture, Internet plus e-commerce, and Internet plus guaranteed support. These policies are hereby hoped to provide a reference for the development and implementation of the Internet plus policy in the future.