Themed "Embrace a Digital Future -- New Factors, New Rules, New Patterns," the three-day conference showcased cutting-edge digital technologies in the metaverse, virtual reality, and holographic projection and offered a glimpse into the latest achievements in the digital economy.

It also held a slew of online and offline activities such as forums, summits, and exhibitions to strengthen global exchanges and cooperation in the digital economy.

Experts and insiders said the world is transforming into a digital era, and the COVID-19 pandemic is accelerating the transformation pace; digital technology is affecting every aspect of social life, which is a challenge but also an opportunity; the rapid development of China's digital economy would inject new impetus into the global economic recovery, and all countries should strengthen cooperation to boost the high-quality development of the digital economy.

Florian Tursky, state secretary of Austria's Ministry of Finance, said in a video speech that as a digital power, China has a significant influence on the innovation and development of the digital economy, and Chinese information and communication enterprises have promoted the global digital transformation.

He said the key to success is cooperation, particularly regarding new trends and developments. He added that the COVID-19 pandemic has made people aware of the importance of digital innovations and new digital business models.

According to the white paper issued by the China Academy of Information and Communications Technology on Friday, China's digital economy amounted to $7.1 trillion in 2021, ranking second after the United States.

Many countries have reached a consensus on digital technological development and industrial transformation. China also remains active in digital technology innovation, said Yu Xiaohui, head of the China Academy of Information and Communications Technology.

"The 5G technology provides a great opportunity for the development of the digital economy," said Wu Hequan, an academician with the Chinese Academy of Engineering, adding that the 5G technology enables the Internet of Things with large bandwidth and data-driven intelligent manufacturing.

Data showed that the amount of 5G base stations in use across China exceeded 1.85 million, greatly facilitating the country's digitalization drive.

In the future, digital technology will remain the focus of global digital innovation. Yu said the world economic growth requires an inclusive environment to promote the digital transformation of the manufacturing, agriculture, and service industry as well as strengthened international cooperation to boost global economic recovery.