Digital trade and AI development in Hangzhou

The digital trade landscape in Hangzhou has seen significant growth and technological evolution. A documentary series released in July highlighted the rapid expansion of Hangzhou’s cross-border e-commerce, noting that trade volume has increased 1,266-fold since 2015 as enterprises transition toward brand-driven storytelling and AI-powered business models.

Building on these developments, the fifth Global Digital Trade Expo (GDTE) was held in Hangzhou from September 23 to 27. Attracting over 50,000 participants from 163 countries, the event focused on the theme ‘Meeting the AI Future.’ A significant shift observed during the expo was the emergence of artificial intelligence as a core trade commodity rather than merely a tool. For the first time, a dedicated ‘Token’ zone was established to showcase AI infrastructure, such as computing power, large models, and quantum computing, treating AI tokens as measurable and tradable digital goods.

In conjunction with the expo, the Zhejiang Provincial Innovation and Investment Group emphasized the importance of ‘patient capital’ for hard technology sectors. With a fund pool exceeding 350 billion yuan, the group aims to provide long-term financial support for frontier industries including artificial intelligence, commercial aerospace, and embodied intelligence. During the event, the group signed agreements for projects totaling over 10 billion yuan. Exhibitors also showcased specialized AI applications, including urban traffic management models, industrial data solutions, and 3D body assessment technologies.