Gao Hongbing, vice-president of e-commerce giant Alibaba Group, a symbol of Zhejiang's digital economy, said that the company is stepping up efforts to boost the province's digital economy, by establishing institutions such as the Zhejiang Lab for innovative research and development, as well as the Alibaba Damo Academy for Discovery, Adventure, Momentum and Outlook. 

"We will continue to support the digital transformation of Zhejiang. Our new retail network increases efficient supply, fintech innovation offers financial services to small- and medium-sized enterprises and consumers, while smart logistics accelerate the construction of intelligent networks," Gao said.