This annual report finds that the development of digital economy，consistent with the innovation and spreading of the Internet information technologies，has so far experienced four stages——digitization，networking，datafication，and intellectualization.The competitiveness of a country's digital economy depends on the interactions among its digital infrastructure，digital industry，digital innovation，and digital governance.The evaluation of 2016 global digital economy development revealed a twin-engine development pattern.The US，with its overall advantage，and China，with its industry momentum，are leading the digital economy development，leaving other counties far behind.In the near future，the competitive advantages and twin-engine status of China and US will remain while the digital economy sustaining a fast growth，digital economy will promote the global economy transformation and public governance reform，overturn the existing employment structure，and bring about security threat.