Ken Hu, deputy chairman and rotating chairman of Huawei

With globalization 4.0, a new wave of globalization in a digital world, more focus will be shifted from business benefits to social value, said Ken Hu, deputy chairman and rotating chairman of Huawei.

Hu said the fifth generation (5G) of cellular mobile communications technology will be rolled out in 110 countries by 2025, and is expected to bring unprecedented benefits to consumers, businesses and society.

He said the technology has the potential to make life better for people with disabilities, provide more widespread access to banking services, and grow more food for expanding populations.

"The World Economic Forum is a great platform to explore the social value it can bring to us," Hu said, adding that the social value to be created should be part of the key considerations for businesses.