At the thirty-fourth collective study of the Political Bureau of the CPC Central Committee held on October 18, China's core leadership and decision-making once again emphasized the important role of the digital economy in supporting national development1, and focused on supporting China's digital economy. Further development sends a strong signal. As we all know, China has moved towards a path of sustainable and high-quality development, and the digital economy is expected to become a breakthrough for high-quality development, which will positively promote the development of the country's real economy from multiple levels. Next, we can foresee that the digital economy will become the focus of government support and the blue ocean that the whole society and industry pay attention to.
In the previously published article "Sustainable Development, Enterprises Are Taking Responsibility", we learned that the digital economy has made an increasing contribution in promoting the overall development of China's economy. Especially since 2020, under the impact of the new crown pneumonia epidemic, when people are actively or passively choosing to stay at home, and social and economic development is in a semi-stagnant state, thanks to new technologies such as cloud computing, 5G, AI, and the Internet of Things. Digital technology, online education, telemedicine, home office, e-commerce and other digital economic formats ushered in vigorous development, which played a supporting effect on the stable operation of the national economy that year.
Just as economic growth relies on the flow of capital to generate value, the growth of the digital economy relies on the value generated by the flow of massive data. Every day, people's work and life generate massive amounts of data. The flow and storage of all these data cannot be separated from the support of memory and storage products - the rapid transmission and storage of data, which in turn forms circulation, generates economic relationships, and ultimately creates value, Support the steady development of the digital economy. According to the "White Paper on the Development of China's Digital Economy (2020)" issued by the China Academy of Information and Communications Technology, the added value of my country's digital economy reached 35.8 trillion yuan in 2019, accounting for 36.2% of GDP, of which Beijing and Shanghai's digital economy GDP accounted for has exceeded 50%.
In the era of the digital economy, winning opportunities requires rapid response and processing of data. Therefore, memory and storage with high performance and excellent stability play an important role in the development of the entire digital economy, and this is also the demand for memory and storage during the epidemic. The reasons for the explosive growth. In the field of memory and storage, SK hynix has maintained a global leading position. Since the beginning of this year, SK hynix has made great progress in memory and storage innovation, successfully developing HBM3 DRAM with the highest performance in the industry to date. HBM3 targets high-performance data centers and machine learning platforms to improve artificial intelligence and supercomputing performance for climate change analysis and drug development. In addition, this year, SK hynix is also the first in the industry to provide 24Gb DDR5 samples, which is expected to provide stronger performance for high-performance servers for big data processing such as artificial intelligence (AI) and machine learning, and accelerate the implementation of more multiverse applications.
From enterprise-level applications such as data centers and high-performance computing, to personal terminals such as mobile phones, tablets, and computers, SK hynix products have been installed in a variety of digital products. SK hynix is deeply participating in and contributing to the vigorous development of China's digital economy.
