BEIJING - New tax cuts may have boosted consumers' income by 116 billion yuan ($16.73 billion), which could increase domestic consumption by 81 billion yuan, Asian investment bank Nomura said in a research note.
The Fifth World Internet Conference ended on Friday with government officials and industry leaders calling for global efforts to build a digital world with shared interests and collective governance.
Internet-based technology is allowing more customers' financial needs to be met, thanks to niche software and collaboration agreements, said experts and CEOs at a sub-forum of the Fifth World Internet Conference on Thursday.
China and the United States are the top contributors to the world's digital economy, which totaled $12.9 trillion globally last year, according to a report released at the Fifth World Internet Conference in Wuzhen, Zhejiang province, which ended on Friday.
China's AI industry has embraced rapid growth in the recent five years, said Wang Xiaochuan, CEO of Chinese search engine Sogou, in Wuzhen, East China's Zhejiang province.
Online culture is flourishing in China, according to Gao Xiang, vice-minister of the Cyberspace Administration of China.
Visitors get a closer look of the latest technological trends
Government officials, business executives and experts hailed the role of the internet in empowering the digital economy, saying it is pivotal to driving economic and social development.
Chinese search engine Sogou launched an AI virtual anchor - the world's first human replica intelligent virtual host, at the Fifth World Internet Conference in Wuzhen, East China's Zhejiang province.
Editor's Note: China has witnessed rapid growth in a wide range of industries due to the advancement of internet and information technologies in recent years. China Daily reporters Cheng Yu, Liu Yukun and Ma Si interviewed top executives of well-known companies attending the Fifth World Internet Conference for their views on the prospects of China's internet sector and their key takeaways from this year's conference. Their answers to the following questions are given below.
If all Chinese people secured lower-cost or free internet access, the internet industry could see exponential growth in market scale, analysts said.
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