Xiamen Torch Development Zone for High Technology Industries is a hub for the city's high-tech and high value-added enterprises. [Photo/xm.gov.cn]

The digital economy in Xiamen, in East China's Fujian province, has grown into a key growth engine for developing the new economy and promoting the shift of growth drivers from old to new ones for the Xiamen Torch Development Zone, Xiamen Daily reported Dec 3.

Over the first 10 months of this year, the zone's total revenue reached 262.66 billion yuan ($37.25 billion), and revenue generated by the new economy sector was 223.26 billion yuan, accounting for 85 percent of the zone's total amount. The zone has cultivated an overall industrial chain of digital economy, including industries of integrated circuits, flat-panel displays, and computer and communication equipment, showcasing the competitive edge of the zone in the digital economy sector.

In the future, the zone will speed up construction of a new and high-level digital economy ecology, and gear up efforts to propel digital industrialization, with the aim to make Xiamen a highland for the digital economy in China's eastern coastal areas.

The zone has attached great importance to introducing leading enterprises with high added value, and at least eight projects were signed at the new economy development summit held in Xiamen Nov 29, including projects in the 5G, artificial intelligence (AI) and intelligent manufacturing sectors.

In addition, the zone is accelerating its push to further integrate AI with the real economy to foster high-quality development, and facilitate the transformation and upgrading of traditional industries by using internet plus and AI technologies.