JERUSALEM - As the fifth World Internet Conference was concluded on Friday in Wuzhen, eastern China's Zhejiang province, China's role in pushing forward the development of cyber industry and view of how cyberspace is supposed to be managed have been highlighted.

The Chinese government called for speeding up the development of the digital economy and promoting the global Internet governance system to advance in a just and more reasonable way.

For many, not only in China, this is a goal. As the Internet has seeped into people's daily lives, the importance to govern the often borderless and sometimes lawless space is critical.

"Today, in cyberspace, on a global scale, we lack more concrete rules of engagement, as well as cooperation between nations, on how cyberspace should be governed and administrated," said Yoni Heilbronn, chief marketing officer of Argus, an Israeli cybersecurity firm.

Heilbronn believed a more collective Internet and its regulation are needed.

"International cooperation in fighting cybercrimes ... is crucial, because without international collaboration, we will be weaker," Heilbronn said. "Global collaboration is key to improving cybersecurity."

China has made huge advances in recent years in Internet technology and industry, and China is taking a "leading role" in developing the sector, said Heilbronn.

When the first annual event in Wuzhen was held in 2014, China was still establishing its position as an Internet powerhouse. But now, there is no doubt that the country is a key player in the area, Heilbronn added.

It's really "quite incredible" to witness the pace of the development, said Yuval Tal, founder and president of Payoneer, an Israeli financial services company specializing in online and cross-border payments.

Tal said that changes have been witnessed in how China handles payments with Wechat Pay and Alipay reaching the masses so quickly, while much of the world is still so dependent on cash and checks.

The Chinese government has made broad promises to let global companies tap into the Chinese market and "share the benefits of globalization," said Tal. "I believe we are seeing signs of genuine goodwill and this will positively ensure we overcome mistrust of the past and build a better shared future."

"China brings more points of view and diversity that are need in the modern world of the Internet," Heilbronn told Xinhua.

The birth of the Internet also saw the birth of unwanted side effects that need to be addressed on a global level.

"There is something so thorough about the Chinese approach," said Yuval. "Solid infrastructure, market education and dedication are major reasons why the Chinese Internet industry is succeeding."

China will have a more significant role in promoting cybersecurity and safeguarding global society online, said Heilbronn.