Digital Economy, Entrepreneurship, and High-Quality Development of the Manufacturing Industry

Abstract

The digital economy has emerged as a significant catalyst for economic expansion on a global scale, and this trend is evident in China. China is emerging as a dominant force in the digital economy and manufacturing industry due to its burgeoning entrepreneurial culture and emphasis on top-notch development. The present study investigates the interplay among the digital economy, entrepreneurship, and the high-quality development of the manufacturing industry in China. This paper comprehensively analyzes the current digital economy and entrepreneurship status in China. It examines the policies and initiatives to foster high-quality development in the manufacturing sector. This paper investigates the influence of digital technologies on productivity and efficiency within the manufacturing industry. It presents an analysis of data and case studies to underscore the notable advancements achieved by China in the digital economy and manufacturing sector while acknowledging the obstacles that remain to be overcome. The results indicate that prioritizing digital technologies, innovation, and entrepreneurship can bolster the manufacturing sector's competitiveness, resulting in sustainable economic expansion and progress. The investigation recognizes the obstacles that necessitate resolution to completely actualize the possibilities of the digital economy and entrepreneurship within the manufacturing sector, utilizing the Multi-Criteria Decision Making (MCDM) approach. The paper advocates for increased cooperation among government, industry, and academia to cultivate a conducive environment for digital entrepreneurship. This collaboration facilitates the manufacturing industry's ability to leverage the digital era's opportunities.