The planned economy, as opposed to the market economy, refers to a different kind of market economy, highly centralized, to achieve high efficiency of the socio-economic system. Planned economy, as the name suggests, is the planned and programmed development of the economy.
Thus, it avoids the problems of blindness and uncertainty of market economy development, which cause harm to the social and economic development. For example: duplication of construction, vicious competition among enterprises, factory closures, workers' unemployment, unbalanced regional economic development, and the generation of social and economic crises.
A planned economy, or planned economic system, also known as a command economy, is an economic system in which production, resource allocation, and product consumption are planned in advance. Since almost all planned economic systems rely on directive planning, a planned economy is also known as a command economy.
It is the government that solves the three basic economic problems, so-called: what to produce, how to produce, and for whom to produce. And most of these resources are owned by the government and are allocated by government directives, independent of the market. The remaining three economic systems are the market economy, the traditional economy and the mixed economy.
Digital economy, as an economic concept, is an economic form in which human beings, through the identification-selection-filtering-storage-use of big data (digitized knowledge and information), guide and realize the rapid and optimal allocation and regeneration of resources, and achieve economic The economic form of high-quality development.
Digital economy, as a concept with a broader connotation, can be included in the scope of any economic form that directly or indirectly utilizes data to guide the role of resources and promote the development of productivity. At the technical level, it includes emerging technologies such as big data, cloud computing, the Internet of Things, blockchain, artificial intelligence, and 5G communications. At the application level, "new retail" and "new manufacturing" are its typical representatives.
At this stage, digital technology, goods and services are not only accelerating the penetration of multi-direction, multi-layer and multi-chain to traditional industries, i.e., industrial digitalization; but also promoting the continuous development and growth of digital industry chains and industry clusters such as the construction and service of Internet Data Center (InternetDataCenter, IDC), i.e., digital industrialization. China's focus on promoting the construction of 5G networks, data centers, industrial Internet and other new infrastructure, essentially around the science and technology of the new industry of the digital economy infrastructure, the digital economy has become a new engine to drive China's economy to achieve good and fast growth, the digital economy has given rise to a variety of new business, will also become China's economy new important growth point.