This article explores the current state and future prospects of China’s digital economy, as well as the hottest prospects in that field of economic innovation. The data confirm that China is among the global leaders in implementing digital economic initiatives, particularly those consumer- oriented ones. The main conclusion is that the digital economy has become a major driving force behind China's overall economic growth, enabling new forms of business and governmental administration. In the long term, it is expected to meet a broad range of societal needs and contributes to the national prosperity.