Assessing the Development Level of Wuhan's Digital Economy: Key Indicators and Insights

Abstract

The purpose of this study is to measure the development level of digital economy in Wuhan China from 2013 to 2022 by using entropy value method. The indicator system is constructed from three aspects: infrastructure construction, science and technology innovation level and digital industry development. The following conclusions are drawn from the study: firstly, the digital economy of Wuhan has developed rapidly, scores growing from 14.273 to 79.955 in ten years. Especially in 2016 and 2017, the growth rate reached the highest level. Secondly, infrastructure construction, the level of scientific and technological innovation and the development of digital industry all have a positive effect on the development of regional digital economy. The weights reached 20.501%, 51.599% and 27.9% respectively. It can be seen that the level of science and technology innovation has the greatest influence. Finally, the number of students enrolled in general higher education institutions, telecommunication business revenue, the number of patents granted and the number of high-tech enterprises are the top four secondary indicators affecting the level of digital economy development in Wuhan. It is possible to promote the continued healthy and rapid development of Wuhan’s digital economy level by strengthening higher education and talent cultivation, upgrading communication infrastructure, incentivizing scientific and technological innovation and patent output as well as supporting the development of high-tech enterprises.