By Ma Yuan, Tu Xiaojie & Yin Haozhi, Research Team on “The Building of World-Class Large Enterprises with Global Competitiveness”, Enterprise Research Institute, DRC

Research Report, No.210, 2019 (Total 5710) 2019-11-28

Abstract: Internet enterprises are the key engines leading the innovation and development of the new round of digital economy. Over the past two decades, a number of Chinese Internet companies have experienced rapid growth, ranking high in the world in terms of revenue, market capitalization and other scale indicators. This is not only because of technological changes and dividends from the huge market, but also because China has attached great importance to the development of digital economy and implemented inclusive and prudent regulation. Comparing with the U.S. Internet leading enterprises, it is found that Chinese enterprises still have significant short links in terms of global expansion, new business development and R&D input, and government regulatory capability remains to be improved. In the future, Internet enterprises will still be the key force to take the lead in the development of digital economy and enhance the comprehensive competitive strength of the country. Chinese enterprises need to continue to make good use of technological transformation and the integration with the real economy, increase input in technological innovation, and actively yet prudently press ahead international expansion. Besides, the government needs to speed up the reform of industrial regulation system and build a policy system to lead the development of digital economy.

Key words: digital economy, Internet enterprises, world-class