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China’s Vice Premier Liu He and the leaders of China’s leading tech firms discussed trends and visions for the future as the World Internet Conference began in Wuzhen on Sunday.
“China’s economy is transforming to the historical stage of high-quality development. The macro economy is generally stable and the trend is that the innovation economy drives growth,” explained Liu.
During the conference, CEO of Alibaba Group Daniel Yong Zhang, pledged to help small and medium sized enterprises (SMEs) with integration “into the market” through the company’s “digital business, finance and digital capabilities.”
Tesla’s CEO Elon Musk, on the other hand, announced that the electric car company had set up a data centre in China to “localise all data generated for our business here, including production, sales and charging.”
According to Musk, “All personally-identifiable is securely stored in China without being transferred overseas.”
“Only in very rare cases, for example, when spare parts are ordered from overseas, is data approved for transfer internationally,” added Musk.
In his announcement, Musk stated that data protection should be a “mutual effort for all industry players.”
The co-founder and CEO of tech giant Xiaomi, Lei Jun, noted that as per the company’s vision, technological advances should be for ‘everyone’, with efforts towards progress being “concerted instead of isolated.”
Xiaomi overtook Apple as the world’s second largest global smartphone vendor earlier in the year.
The World Internet Conference is taking place until September 28.
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Video ID: 20210926-028
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