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The Role of Digital Transformation in High-Quality Development of the Services Trade

Author

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  • Lei Zhou

    (College of Economic and Social Welfare, Zhejiang Shuren University, Hangzhou 310015, China)

  • Qing Xia

    (College of Economic and Social Welfare, Zhejiang Shuren University, Hangzhou 310015, China)

  • Huaping Sun

    (Institute of Common Prosperity, Jiangsu University, Zhenjiang 212013, China
    School of Finance and Economics, Jiangsu University, Zhenjiang 212013, China
    Centre for Innovation Management Research, Xinjiang University, Urumqi 830046, China)

  • Ling Zhang

    (College of Urban Economics and Public Administration, Capital University of Economics and Business, Beijing 100070, China)

  • Xu Jin

    (Department of Global Business, Konkuk University, Seoul 05029, Republic of Korea)

Abstract

China’s economy began as one of high-speed development and has since advanced into a period of high-quality enhancement as driven by the services trade. Data elements are important for promoting services trade. In this paper, we present a literature review of the digital services trade and its development, as well as the main mechanisms of the data factors influencing the services trade. Second, by adopting methods for the combination of qualitative research with quantitative research, we summarize the main advantages of China’s high-quality services trade and identify the key data elements involved. We find data elements play a key role in China’s services trade development. Third, we analyze the main path of data affecting services trade development at the micro level. We then examine the specific case of the Meorient digital innovation service through a case analysis method. From this analysis, we conclude that digital internal and external dual wheels drive enterprise development and that the digital platform unlocks a new business model for the exhibition of science and technology investment to build a digital ecological symbiotic group. These findings provide a reference for the digital transformation of other service trade enterprises. Finally, we propose a means by which to strengthen digital infrastructure by consolidating the industrial foundation of the services trade and by improving the tradability of service products, domestic digital supervision, and the governance system.

Suggested Citation

  • Lei Zhou & Qing Xia & Huaping Sun & Ling Zhang & Xu Jin, 2023. "The Role of Digital Transformation in High-Quality Development of the Services Trade," Sustainability, MDPI, vol. 15(5), pages 1-16, February.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:5:p:4014-:d:1077018
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    References listed on IDEAS

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    1. Haomiao Zhai & Fan Yang & Fuxia Gao & Stavros Sindakis & Gazal Showkat, 2024. "Digital Transformation and Over-Investment: Exploring the Role of Rational Decision-Making and Resource Surplus in the Knowledge Economy," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(3), pages 14103-14134, September.
    2. Hafiz Wasim Akram & Alam Ahmad & Leo-Paul Dana & Asif Khan & Samreen Akhtar, 2024. "Do Trade Agreements Enhance Bilateral Trade? Focus on India and Sri Lanka," Sustainability, MDPI, vol. 16(2), pages 1-30, January.

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