Web conference focuses on 'going global' strategy

A conference room filled with more than 100 reporters seemed too small to fit Chinese internet tycoons' ambitions, as the term "going global" became the buzzword during a one-hour session at the Third World Internet Conference.

Yang Yuanqing, chairman and CEO of Lenovo Group, said on Thursday in Wuzhen, an ancient water town in Zhejiang province that hosted the top web conference in China, that the country only accounts for 30 percent of the world smartphone market, despite its size.

"Overseas markets account for the other 70 percent," Yang said at a media session attended by the heads of China's leading internet and technology companies.