Realizing the importance of digital economy development, China Development Bank (CDB) signed a strategic agreement with the National Development and Reform Commission (NDRC), pledging to pour 100 billion yuan ($14.59 billion) in the development of big data, internet of things, cloud computing and smart cities.

In addition, an industrial partnership on the digital Silk Road was also launched at the conference.

In recent years, Zhejiang province has emerged as a pioneer in the digital economy. In the first half of 2018, the added value of digital industries witnessed an annual growth of 16.4 percent, accounting for 9.1 percent of the regional GDP.

Jiří Havlíček, vice minister of Industry and Trade of the Czech Republic, makes a keynote speech at the International Conference on Digital Economy & Digital Silk Road in Hangzhou, Zhejiang province, on Sept 18. [Photo/Xinhua]

The launching ceremony of the Digital Silk Road International Industrial Partnership is held in Hangzhou, Zhejiang province, on Sept 18. [Photo/Xinhua]