In 2023, the value-added output of core industries in the digital economy reached 12.75 trillion yuan (about 1.74 trillion U.S. dollars), 9.9 percent of China's total gross domestic product (GDP), according to data released by the National Bureau of Statistics of China on Tuesday. The data, calculated on the basis of China's fifth national economic census, is expected to comprehensively reflect the development status of core industries of the country's digital economy.
From the internal structure of the core industries of the digital economy, the added value of the digital technology application industry was 5.56 trillion yuan (about 761.71 billion U.S. dollars), accounting for the highest proportion of the core industries of the digital economy, at 43.6 percent.
The added value of the digital product manufacturing industry was 4.31 trillion yuan (about 590.46 billion U.S. dollars), accounting for 33.8 percent; the added value of the digital-factor-driven industry was 2.47 trillion yuan (about 338.38 billion U.S. dollars), accounting for 19.4 percent.
The added value of the digital product service industry was 403.7 billion yuan (about 55.30 billion U.S. dollars), accounting for 3.2 percent.
Value-added output of core industries in digital economy accounts for 9.9 percent of China's GDP
Wine companies in Italy are anxious as U.S. President Donald Trump signed an executive order on the so-called "reciprocal tariffs," imposing a 20-percent tariff on the European Union.
Giulia D'Alema, head of a family-owned wine business in Italy's Umbria region, is facing significant uncertainty for the upcoming wine sales season following the announcement of tariffs on EU products, including wine.
Her family's 7.5-hectare vineyard has completed its major annual tasks — trimming, tying, and weeding — to ensure healthy grape growth and a fruitful harvest.
However, despite these preparations, D'Alema is troubled by the looming threat of new tariffs on Italian wines exported to the United States.
The United States is a key market for Italian wines, with exports valued at approximately 2 billion euros in 2024 alone.
Yet, the announcement by U.S. President Donald Trump has put this vital export market at risk.
"If tariffs are imposed, U.S. importers won't be able to import my wine because selling my rose will no longer be profitable for them. I've already increased production specifically for this (U.S.) market, so now I have to find other ways to absorb this surplus," said D'Alema.
In the wine-producing region of Umbria in central Italy, it is the small and medium-sized wineries that are hit the hardest. Large enterprises can mitigate risks by adjusting their market strategies, but small family-owned businesses often rely on a single market. The imposition of tariffs creates a great deal of uncertainty for their operations.
In 2024, Italy's bottled wine exports to the United States reached 1.94 billion euros. According to calculations by the largest agricultural association in Italy, the Italian Confederation of Farmers (CIA), if tariffs prevent Italian wines from being exported to the United States, Italian wineries could face daily losses of 6 million U.S. dollars.
Trump's 20 pct tariffs on EU raise concerns for Italian wine export
