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"Compared with internet companies, our giant hardware base is the biggest edge in promoting Harmony. We ship about 300 to 400 million units of hardware every year, including smartphones, personal computers and smartwatches," Yu said.

"Chinese consumers have shown huge enthusiasm for 5G smartphones, which has outpaced our expectations," Lei Jun, founder and CEO of another leading smartphone vendor Xiaomi Corp, said at the WIC.

"China will not stop its effort to pursue higher-quality opening-up. China will not stop its effort to pursue an open world economy," Xi said at the China International Import Expo last month, the world's first national-level expo devoted to imports.

"China's internet development has been an indisputable success. China's homegrown tech juggernauts, including 'BAT' or the top three firms, Baidu, Alibaba and Tencent, are undisputed leaders. A fleet of startups, such as Didi, Bytedance and Pinduoduo, have joined China's internet ecosystem and provided Chinese users with a whole package of leading services," Gambardella said.

"China's digital economy has scaled up from 11 trillion yuan to 35.8 trillion yuan, accounting for 36.2 percent of the GDP," Xiao added.