China is moving steadily toward front-runner status in the development of digital trade, fueled by the booming internet use, and the emergence of big data, cloud computing and other new technologies, according to a new report.

After years of development of digital technologies, China is now among the world"s top 10 countries for digital trade. The country has ranked first in the globe in terms of total cross-border e-commerce retail export value as well.

This came to light on Wednesday at the release of the report at a forum of the China International Big Data Industry Expo 2021, which runs from Wednesday to Friday in Guiyang, Guizhou province.

The report, published by the Chinese Academy of International Trade and Economic Cooperation (CAITEC), which is part of the Ministry of Commerce, said digital trade mainly encompasses digitally enabled transactions of trade in goods, services as well as data factors, which helps promote the transformation of global industrial, supply and value chains and improve efficiency in the production and operation of enterprises.