Jack Ma, president of the nation's e-commerce giant Alibaba speaks in front of a giant screen displaying total gross merchandise volume (GMV) of Alibaba's online marketplace Tmall for Singles' Day shopping spree in Shenzhen, South China's Guangdong province, Nov 11, 2016. [Photo/Xinhua]

China, which has about 710 million internet users or one-fifth of the world's total, has a natural advantage in developing digital economy.

E-commerce giant Alibaba Group last year set another sales record for Singles Day, the world's biggest online shopping event, with about 120.7 billion yuan ($17.79 billion) spent in 24 hours.

As China steps up efforts to restructure its economy, the country's burgeoning digital sector is creating new jobs for millions of people. China's digital economy is predicted to create over 400 million jobs by 2035, according to a Boston Consulting Group report.