Digital China chairman confident about future development

Guo Wei, chairman of Digital China Holdings Limited. [Photo/IC]

President Xi Jinping, as the leader of the party and the government, has such a deep and comprehensive understanding of the Internet and it's a good signal, said Guo Wei, chairman of Digital China Holdings Limited

"Earlier, we had concerns. But now, we have more confidence in developing enterprises, because we have support of the government," Guo said.

In his keynote speech, President Xi elaborated the relationship between the virtual space and the real world, which is consistent with our research, Guo added.

"By building up a smart city, we hope to build a virtual cyberspace to solve some problems which are difficult to deal with in the real world. When building up smart cities, we will continue to adopt an open platform. If we find good companies, we will be active in mergers and acquisitions, or investment", Guo said.

China has witnessed a rapid development of its Internet industry over the past two decades. The Internet has profoundly affected almost every facet of Chinese people's lives including communication, transportation, and entertainment.

As of July 2015, the number of Internet users had reached 668 million, the most in the world, according to official figures. All cities and towns, and 93.5 percent of administrative villages in China now have access to the Internet.

The thriving Internet industry and the gigantic market potential have also bred countless Internet companies, and some of them, such as Baidu, Tencent and Alibaba, have become international goliaths.

Chinese authorities have attached more importance to the Internet, pledging to transform China from a big Internet nation to a great one. The Internet, with better management, will be more open to the world.