With China's digital economy accounting for over one third of its GDP, many hope new policies can better protect data and properly regulate its usage. That's one reason why thousands have descended on the second Digital China Summit in Southeast China's Fujian Province. CGTN reporter Wu Lei takes us there and shows us how much more digital our world can become.

WU LEI FUZHOU "No cash, no credit card, even if your smartphone is powered off, you can just pay with your face. Smile and confirm your phone number, that's it. Paying in less than 10 seconds. And this kind of facial recognition technology has made our shopping experience safer as well as faster. Here is a digital trash recycling machine, people can sort and recycle waste with their phone. It seems every corner of China is embracing digital technology to build a smart society. But how to better use the latest technologies like 5G and AI? What about the data security risks and other challenges ahead? Let's go to some industry pros to find out."

More than 1,500 officials, company representatives and scholars are attending this second Digital China Summit in Fuzhou.

Industry leader Digital China Group is one of them. Its Chairman Guo Wei says the key is properly applying 5G and AI where needed.

GUO WEI, CHAIRMAN AND PRESIDENT DIGITAL CHINA GROUP CO., LTD. "One of our major challenges is how to use the latest technologies to upgrade the infrastructure of traditional sectors. Many digital companies don't understand the real needs of traditional industries."

From e-governance to smart cities and factories, China's digital economy has produced a vast expanse of data. Many companies expect more policy support to share and make the best use of the data value.

CHEN TAO, EXECUTIVE PRESIDENT IFLYTEK CO., LTD. "Data among government departments is shared, but whether it is possible to open data sources to companies for public use, there is no clear policy."

According to a recent white paper, China's domestic digital economy reached 31.3 trillion yuan in 2018. That's about 4.6 trillion US dollars, and roughly 34.8% of China's GDP. Through this summit, these companies hope that more collaboration will find new solutions for challenges ahead. WL, CGTN, FUZHOU CITY, FUJIAN PROVINCE.