Che Jun, secretary of the Zhejiang Provincial Committee of the Communist Party of China, said that "building the digital economy is our top project, through which traditional industries are transformed and optimized, and the innovative ability and competitive edge of Zhejiang is enhanced".

He added that taking advantage of the integrated development of the Yangtze River Delta region, Zhejiang will continue to develop its digital economy.

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.

According to Yuan, the digital transformation of the Zhejiang government is also promoting the development of its digital economy. The government's online administrative platform now integrates the public service apps from 81 departments, and the province-city-county all-in-one public service app now has over 25 million registered users and 7.24 million daily active users. A total of 385 livelihood issues can be addressed through the app.

The private economy is also supporting Zhejiang's digital economy. Data from the State Council Information Office showed that currently, the private economy accounted for 65 percent of Zhejiang's GDP, and contributed to 74 percent of the tax income and 77 percent of the export volume. Up to 93 percent of the enterprises in Zhejiang are private enterprises, creating 78 percent of the local employment.

From 2016 to 2018, the government's tax cuts and fee reductions totaled 424.5 billion yuan, and the goal for this year is 200 billion yuan. The government is making efforts to offer private enterprises financial assistance, as well as to reduce the project approval period.

"In the next step, we will continue to offer high-quality services to private enterprises, and boost the innovative development of the private economy," Yuan said.