China’s digital economy is predicted to create over 400 million jobs by 2035, a report has revealed. Internet-based economy could be worth $16 trillion by then, according to a Boston Consulting Group report, released at a new economy summit sponsored by Alibaba Group on Saturday, Xinhua news agency reported. Also Read - Let our firms take part in 5G trials, China tells IndiaAlso Read - Jack Ma's Alibaba fined record $2.7B by China
Alibaba, China’s biggest online trader, is expected to generate over 100 million of those jobs, according to the report, with 30 million jobs created last year. As jobs are created, digital technology like cloud computing and artificial intelligence will replace more and more manpower, the report said. Also Read - Safer Internet Day 2021: Here's how you can ensure your online security
Meanwhile, 20 per cent of the world’s population will become self-employed or freelance via the Internet in the next decade, Alibaba Vice President Gao Hongbing said at the summit. ALSO READ: China s 4G user base exceeds 700 million
The digital economy will surpass the manufacturing sector in scale and account for a quarter of the world’s economy, Gao added.