Zhang Xiaoyan, deputy dean of Tsinghua National Institute of Financial Research

Cultivating an ecosystem centered on digitalization is needed for the country to pursue a stable, sustainable and balanced growth pattern. In the ecosystem, governments are expected to inject fresh impetus into infrastructures and other facilities, as market regulators will step up effective supervision for the digital sector, Zhang said.

As for companies, they can seek upgrades or transformation through the ecosystem; and residents can also share in the benefits of the digital economy with much better employment opportunities and higher incomes, Zhang added.