China's digital economy is getting a big boost. And building a robust digital ecosystem needs the integration of connectivity, smart devices and digital literacy, according to Ma Wenyan, Chief Executive Officer (CEO) of China Silkroad Investment (CSIC). 

China has already made significant progress in developing its digital economy by rolling out a raft of measures. Official data showed that the country's digital economy grew to 27.2 trillion yuan (about 3.94 trillion U.S. dollars) last year, up 20.3 percent year-on-year and accounting for 32.9 percent of the country's GDP.

The demand for digital infrastructure is huge, the CEO said, emphasizing the importance of connectivity, the growth of smart devices and digital literacy.

"The very basic level [of developing digital infrastructure] is connectivity. Even for China which has so much focus on infrastructure investment and digital economy, only 55 percent [of] people have internet connectivity. So you can imagine it's a bigger issue globally," Ma said.

"Second level of the digital infrastructure is the spread of smart devices… you need to spread the smart devices to have [more] internet users. And finally, you also need digital literacy, because internet users need to be knowledgeable and comfortable about e-commerce, social network and online entertainment, then to be active users," he added.

China Development Bank and the National Development and Reform Commission said that they will invest about 14.6 billion U.S. dollars in developing China's digital economy over the next five years. The investments will go to projects involving such sectors as big data, Internet of Things (IoT) and the digital Silk Road. 

Compared to typical projects like "networks and towers," Ma preferred to invest in digital ecosystem. "When we think about ecosystem, you start thinking about smart devices, new platforms and new digital services provided by the new platforms. These are more nimble and more equity-related investment. Probably you will see payback more quickly in the short term," Ma told CGTN.

"We are going through a very interesting and special moment. On one side, every country feels [the] urgency to go through digital economy transformation. At the same time, there is a quite big anxiety worrying about being left behind. On top of these, we also have huge concerns about data privacy, security and management."

Under the mixture of "urgency, anxiety and paranoia," he stressed that global community should work together to develop a common protocol, rule or governance "to make sure we would have a shared digital future."