"The WIC has witnessed the rapid rise of China's internet industry," said Lu Shan, vice-governor of Zhejiang province. "It has also witnessed the rapid development of Zhejiang's digital economy."

As the WIC Wuzhen Summit enters into its 10th year, the newly inaugurated Zhejiang Office will make more contributions to the building of a community with a shared future in cyberspace, Lu said.

Official statistics show that China's digital economy grew to 50.2 trillion yuan ($7.01 trillion) in 2022, ranking second in the world and accounting for 41.5 percent of its GDP. Home to China's leading e-commerce and internet companies such as Alibaba, Zhejiang saw its digital economy increase by 12 percent in 2022, reaching 4 trillion yuan.

Last year, the WIC Wuzhen Summit drew a record 2,100 guests, online and on site, from over 120 countries and regions. The 2023 summit is expected to be held in the fall.