By Li Yan, Zhou Yi & Xupu Heyan, Research Team on “New Industrial Revolution Partnership among BRICS Countries”, Research Department of Industrial Economy, DRC

Research Report, No.187, 2019 (Total 5687)

2019-10-23

Abstract: As the major part of new industrial revolution, digitization plays a significant role in realizing the high-quality industrialization and accelerating inclusive development and economic transformation for the BRICS countries. The BRICS countries have attached great importance to digital economy in recent years and boomed their cooperation between governments and enterprises, which shows a huge potential for further development. But it needs to be noted that there are still some major issues checking the steps for their future growth. For instance, due to insufficient input in digital infrastructure and unsound investment environment, it is difficult to put into effect relevant projects, some countries overemphasized localized and autonomous substitution and some countries hold different political and strategic views and vie for power. The BRICS countries need to make efforts to build up consensus, enhance mutual trust among themselves, and give full play to the major role of enterprises in promoting digital transformation relating to infrastructure projects and in fields with favorable conditions. Efforts need to be made to focus on capacity enhancement for BRICS cooperation, explore the possibility of establishing an innovation-oriented investment-and-financing cooperation and smooth bilateral exchange rate mechanism, and strengthen policy coordination relating to digital governance.

Key words: BRICS countries, digital cooperation, strategic promotion