American Journal of Technology and Applied Sciences ISSN (E): 2832-1766 Volume 23, April - 2024 P a g e | 12 www.americanjournal.org THEORETICAL AND METHODOLOGICAL PROBLEMS OF THE DIGITAL AND INNOVATIVE ECONOMY AND CHINESE EXPERIENCE AND STRATEGIC DIRECTIONS IN THEIR SOLUTION Qulmetov Mansurbek Ro'zmatovich Sa’dullayeva Gulnoza Usmanovna Teacher of Tashkent Institute of Economics and Management A B S T R A C T K E Y W O R D S In the context of globalization, the rapid growth of the national economy of each country occurs primarily as a result of factors such as the digitization of the national economy, international trade, foreign investment and the improvement of financial services. As noted by the President on the digitization of the economy, “We need to develop a national concept of digital economy, which provides for the modernization of all sectors of the economy on the basis of digital technologies and on this basis, we need to implement the "Digital Uzbekistan - 2030" program". This article describes the theoretical and methodological problems of organizing a digital and innovative economy, the Chinese experience and strategic directions of solving them. Digital Economy, Economics, market economy, digital technology, digitization, robotics, IT, Digital Dividends, internet banking Introduction As the processes of digital transformation continue throughout the world, we are not mistaken to say that Uzbekistan has also begun to transition to a digital economy, taking into account modern trends. In 2020-2022, the Strategy” Digital Uzbekistan-2030 “and the adoption of”strategic directions " for its implementation, first of all, will provide the economic and financial basis for the transition to a digital economy. Today, Uzbekistan is taking a consistent step in 2017-2021 with directions based on the strategy of Action for the development of our country, increasing its competitiveness, as well as the widespread introduction of innovations and the effective use of available resources . In particular, the following words of our President Shavkat Mirziyoyev can be cited in this regard: “digital knowledge, modern information technologies are needed to achieve progress, and they should be introduced on the basis of world experience. This allows you to choose the shortest path for development. After all, today in the world, Information Technology is deepening into all areas, and digital technologies not only improve the quality of products and services, but also reduce unnecessary costs." American Journal of Technology and Applied Sciences Volume 23, April - 2024 P a g e | 13 www.americanjournal.org The concept of digital economics has been given various definitions by scientists. In particular, the concept of digital economy was first used by a Japanese professor during the Japanese crisis of the 1990s. 1995 was used in Europe in Don Tapscott's work “Tsifrovaya economika: obetshanie I opasnost v epoxu setevoy intelligence” and in the 1995 research work of Nicholas Negroponte (Massachusetts, USA). In the digital economy, the use of the results of process analysis and the processing of large amounts of data is defined as an economic activity that can be considered as a factor of production, which can significantly increase the efficiency of storage, sale and delivery of technologies, equipment, goods and services. Digital economy is a modern stage of development characterized by the advantages and priorities of creative work and information. Digital economics is a specific concept, the object of its study is information. Characterized by its data, computational order and changing nature of communication, the digital economy is today the main driving force behind economic growth and social change. Recently, as a result of development in market relations and changes in the financial system, the opportunities of enterprises to work in a financial resource allocation and competitive environment, attract potential customers and grow high financial results, take into account price policies and existing receivables, distribute financial resources and work in competitive conditions have expanded, but despite this, minimize receivables, there are many problems in solving the issue of finding the necessary equipment and attracting suppliers to the purchase. In this regard, it remains difficult to modernize the main funds and working capital necessary for the activities of local enterprises and sell existing assets, to offer the results of the development of Science and technology to buyers. Therefore, to attract additional financial resources, enterprises prefer to contact financial institutions and use borrowed funds. But this does not always give a positive result. It will be possible to use leasing services as an alternative at a time when it is difficult for the enterprise to attract credit resources. It can be seen from this that improving the process of providing leasing services allows business entities to attract additional financial resources. However, it should be noted that although elements of the digital economy are used in our economy, the opportunities for its use in the market of leasing services are not sufficiently formed. Today we cannot come to such a conclusion about the credit and leasing market in Uzbekistan during the period when the digitization process is widely used in the financial and credit sector (leasing companies) of foreign countries and in the activities of business entities. Looking at the practice of foreign countries in particular the experience of China, we can see that large data networks are used in the use of digital technologies. Chinese scientists believe that big data is useless in the universe, its potential significance is evident when used in decision-making. And for this, organizations must have effective systems that can quickly change large data. China announced its”14th five-year plan for the development of the digital economy " in January 2022. In doing so, China considers the digital economy as a leading factor for its overall development goals, and its “core sectors” have developed strategic directions on the growth of total GDP from 7.8% in 2020 to 10% by 2025. In it, mainly digital infrastructure improvements and upgrades include areas such as development of 5G network, full use of data as the main "production factor", implementation of digital transformation in all areas, increasing innovative capabilities in key industries such as sensors, quantum computations, artificial intelligence, and improving the management system of the American Journal of Technology and Applied Sciences Volume 23, April - 2024 P a g e | 14 www.americanjournal.org digital economy. Also based on re'jaga, China's efforts to regulate data as of 2021 can be a clear example of the importance of cyber security and increased data security. On the international front, China plans to actively cooperate with the European Union,OECD, ASEAN and African states on the policy of the digital economy. At the same time, we can consider the internationally comparable indicators of China on the development of the digital economy by the OECD. In doing so, it shows that China's leading power is gross exports of goods in Information Communication Technologies. The data database of indicators using the latest trade data of the World Bank for reconstruction confirmed that the goods of Information Communication Technologies exported by China amounted to about $ 600 in 2021, and this reached a value equal to 26% of China's total exports. The value added to the export of Information Communication Technologies, in % value from the total volume of the world (2021) China's share in gross exports of Information Communication Technologies refers to the importance of using data from the digital economy to estimate the size of the digital economy in China. The growth rate of the digital economy in relation to GDP growth in China (2021) American Journal of Technology and Applied Sciences Volume 23, April - 2024 P a g e | 15 www.americanjournal.org That being said, We can also see from this diagram the magnitude of the impact of digital technologies on the stability of the economy and the growth rate of gross domestic product. From the above information, we can see that the most active driver of the digital economy is this state. It is a major customer and consumer of the digital economy. In doing so, China has spent nearly $ 9 billion for these purposes in the past year itself. as a result of this, with a market capitalization of over $ 210 billion, the Alibaba internet resource has proven that these investments are properly oriented. If a country wants to get the maximum benefit from digitization, it is necessary to create and support the market for the necessary advanced technologies. With this, in addition to the rapid development of the country in pictures, the opportunity is achieved to analyze specific economic indicators, the perfection of private applications and control methods for important industries. Comprehensive measures for the active development of the digital economy are being implemented in our country,the widespread introduction of modern information and communication technologies to all sectors and especially in the Industries, Public Administration, education, health and agriculture sectors. In particular, more than 220 priority projects have been implemented to improve the e-government system. This includes the further development of the global market of software products and information technology, the establishment of IT parks in all regions of our country, as well as the provision of qualified personnel to the industry. In addition, the complex program” Digital Tashkent " is being implemented, which can be highlighted by the launch of an integrated Geoportal with more than 40 information systems, the information system of public transport and municipal infrastructure management, its digitization in the social sphere, and measures to introduce this practice even later in other regions. It is advisable to carry out the following measures to implement the issue of the development of the digital economy based on the experience of China: * further expansion of high-quality and high-demand electronic public services in our country, gradual digitization of all public services, including an increase in the share of automated services by 60% ; * provide a unified technological approach to the development of electronic government information systems; including reducing the cost of developing office systems of public bodies using open sources, as well as software; American Journal of Technology and Applied Sciences Volume 23, April - 2024 P a g e | 16 www.americanjournal.org * improving the mechanisms for the development, formation and use of open government data, that is, increasing the share of State mobile applications and applications on the basis of "open data" at the request of consumers; * creation of a single portal, where the necessary resources for the collection and digitization of information are concentrated in the management of the state by creating a unified system of data management; * to create a set of necessary data and documents by optimizing public service procedures, including reducing their number, automating administrative procedures; * optimize all procedures related to the issuance and transfer of licenses and permits, create sites in real time that contain an electronic form; * implementation of e-government systems with the ability to provide and inform residents and businesses of information of legal importance; * electronic resources, such as creating applications to further improve the mechanism of participation of citizens and entrepreneurs in the online mode, have a positive impact not only on the economy, but also on the country's management system. As the development of technology and the range of goods and services offered by the electronic economy continue to grow, the digital economy will continue to expand. The digital economy cannot be developed without knowledge. Integration is necessary for us to be competitive in a time when the whole world is moving forward and for this it can be seen that the digital economy cannot be developed without increasing education.Because the basis of the economy is based on deep knowledge and experience. As you know, the digital economy is a key, integral part of the e-government system and contributes significantly to the development of the country. Because in order not to lag behind the rapidly developing world, it is necessary to use existing practices in world experience, to have high indicators in the world ranking. To do this, the main goal of our youth should be to increase knowledge and, through it, to develop a digital economy. References: 1. The decision of the president of the Republic of Uzbekistan “on approval of Strategy”Digital Uzbekistan – 2030 “and measures for its effective implementation”, PF-6079 of 05.10.2020. 2. Decree of the president of the Republic of Uzbekistan “on measures to radically improve the conditions for the development of the information technology sector in the Republic”. Tashkent City, PF-5099 No. 30.06.2020 3. The decision of the president of the Republic of Uzbekistan “on improving the system of training of personnel in the field of Information Technology”. Tashkent City 4. OECD (2021A), the Next Production Revolution: Implications for Governments and Business, available at http://dx.doi.org/10.1787/9789264271036-en, May 10. 5. OECD (2021B), Digital Economy Outlook 2017, available at http://www.oecd.org/internet/oecd- digitaleconomy-outlook-2017-9789264276284-en.htm, 11 October 6. Kholmamatov, F. "The Importance and Role of Bank Capital in Ensuring the Stability of the Banking System." 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