Core technology key to digital economy development: Jack Ma

A new push to advance China's digital economy, particularly in the wake of the US ruling against Chinese telecom giant ZTE, are the hot topics of discussion at this year's Digital China Summit taking place in Fujian's provincial capital, Fuzhou.

With a broader theme of speeding up the construction of a digital China, the summit is designed to generate ideas from those in various sectors of the digital economy.

Among those taking part is Alibaba chair Jack Ma, who says one of the key areas of focus needs to be on developing core technology.

Jack Ma delivers speech at Digital China Summit. [Photo: Xinhua]

"I think really big companies are paying too much attention to market share, when they should be putting more of an emphasis on core technologies. They see technology based on social and human progress as a matter of success or failure. They should also see the development of core technologies as their responsibility."

The suggestion by Jack Ma comes as Chinese telecom equipment maker ZTE faces the possibility of being cut off from US technology.

ZTE's situation has put companies, including Alibaba, on notice by the Chinese government that they are likely going to have to play the leading role in helping ease a supply shortage of home-made chips.

Beyond concerns about core technologies, those attending the Digital China Summit have also been discussing new areas of growth.

Chief Operating Officer of Dawning Information Industry, Ye Jian, says advancements in the digital economy are also poised to help improve medical care services and food safety.

JD.com's fast delivery drone is displayed at Digital China Summit. [Photo: Chinanews.com]

"The digital economy can help with poverty relief. For example, there are few three-A hospitals or expert physicians in remote areas. But now people in these areas can receive quality medical services with the help of robots and cloud technologies. In terms of food safety, the Internet of Things allows us to trace the origin of food. The digital economy provides great help to every aspect of our life."

The digital economy in China only began to surface around 20 years ago.

Researcher Banji Oyelaran-Oyeyinka with United Nations University says since then, China's embrace of digital has been very evident.

"The speed, the scale, the scope of Chinese progress has been amazing. China has showed us that progress is possible in a very short time. It shows us that the digital and economy actually integrates very closely with the rest of the economy. And it improves the lives of people and improves the quality of life. So we believe that digitalizing the economy actually deepens the equality and bring the people who otherwise would be left behind to our society."

In a report issued through the Summit, the total value of China's digital economy came in at 27.2 trillion yuan last year, accounting for almost one-thirds of China's overall Gross Domestic Product.

Home to the world's largest fiber-optic and 4G networks, the scale of China's digital economy now ranks second in the world.