On May 18th, Xiao Gang, former chairman of the China Securities Regulatory Commission, stated at the 2025 Tsinghua Wudaokou Global Financial Forum that China’s digital economy continued to maintain a good development trend in the first quarter of this year. The core industries of the digital economy have shown good growth momentum, with a growth rate of over 10% (double-digit growth). From the perspective of regional distribution and total number of enterprises, the leading trend is evident in the eastern region. In the first quarter of this year, A-share listed companies in the core industry of digital economy in the eastern region contributed more than 90% of the country’s revenue and net profit. Xiao Gang analyzed that this year in the field of digital finance, most financial institutions have begun to integrate big models such as DeepSeek. After DeepSeek promoted AI equality, many small and medium-sized financial institutions have the conditions and capabilities to apply AI big models, which has brought great changes to the entire financial industry. By continuously applying various AI models represented by DeepSeek, financial institutions have further innovated the digital finance development ecosystem, improving financial efficiency and customer experience. Regarding the future development of digital economy and digital finance, Xiao Gang suggests further promoting the deep integration of digital economy and real economy. Firstly, we need to further improve the ecosystem of the digital economy industry, cultivate a cooperative ecosystem of “technology industry finance” in a virtuous cycle, and further eliminate some constraints on digital economy consumption; Secondly, we need to accelerate the construction of a governance loop for generative AI financial applications, refine the implementation details of financial scenarios, and focus on risk management of AI technology abuse; The third is to build a high-quality financial data market, explore and improve a series of theoretical basis and practical paths such as data element ownership, pricing, valuation, transaction circulation, and entry into the balance sheet.
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