President Xi Jinping delivers a keynote speech at the opening ceremony of the Second World Internet Conference held in the water town of Wuzhen, East China's Zhejiang province, Dec 16, 2015. [Photo/IC]

Business leaders, officials, and researchers responded to President Xi Jinping's speech during the World Internet Conference on Wednesday.

Regulation should keep up with development of Internet finance: official

China's regulation system need to be adjusted and improved along with the development of Internet finance, said a senior official from the central bank Wednesday.

Internet finance is a new thing in China, so there will be a long time before it can develop in a healthy and regular way, said Guo Qingping, vice-governor of the People's Bank of China, at a forum on the sideline of the Second World Internet Conference held in Wuzhen, East China's Zhejiang province.

Guo pointed out that three pairs of relationships need to be taken care of for the Internet finance to further develop in the country.

One is the relationship between Internet finance and traditional finance. "We need to support and regulate new forms of Internet finance, such as third-party payment, crowd funding and online lending platforms, and at the same time encourage traditional financial institutions to provide new products and services based on Internet technology, so as to build a coordinated financial system," said Guo.

The second is to properly deal with innovation and risk control. "We need to stick to our bottom line of preventing systemic and regional financial risks and distinguish illegal activities from legal ones," said Guo.

The third is the relationships between the government and market, administration regulation and self-discipline. The government, society and market should play their expected roles to build a modern governing system for Internet finance to develop in a continuous and healthy way.

Xi's speech shows China bullish on Internet growth: Tonga

A World Internet Conference guest from Tonga said the most interesting part of President Xi's speech is the bright prospect the country looks forward to in 2020.

In his keynote speech at the opening ceremony of the 2nd World Internet Conference, Xi said that it is estimated that by 2020 broadband in China will basically cover all the villages thanks to the strategy, and more people will have access to the Internet.

"If that’s going to happen, it will be a very unique thing for China to accomplish," said Andrew To'imoana, director for Information Department of Tonga, who is attending the World Internet Conference that is being held in Wuzhen, Zhejiang province.

"It’s very unique for the conference to be held here in Wuzhen. You talk about the technology and advancing stuff, while you see a traditional way of living," he said.

Didi's CEO praises Xi's 'sharing economy' speech

Cheng Wei, chief executive officer of Didi Kuaidi, China's largest car-on-demand service provider, said he is excited to find the term "sharing economy" was mentioned by President Xi Jinping in his keynote speech at the Second World Internet Conference in East China's Wuzhen on Wednesday.

"President Xi said at the opening ceremony that sharing economy and Internet-enabled innovation will be highly supported and promoted," said Cheng.

Cheng said Didi is a typical example of how sharing economy can thrive in China. According to him, the company, which was founded in 2012 with an initial investment of 800,000 yuan ($123,760), has grown into the largest mobile-based transportation platform in the world with an estimated value of 100 billion yuan.

'Share' the key word in Xi's speech: He Zheng

"The Internet has flattened the world with its dialogue platform for governance, utilization and benefits," said He Zheng, chairman of AsiaInfo's security department.

In Xi's speech, he called on the countries to begin communications, broaden consensus and deepen cooperation, to jointly build a community of shared future in cyberspace.

He Zheng noted that one of the key words in Xi's speech is "share", which reflects China's open and cooperative attitude and direction. "After all, in a cyberspace where what we know is far less than what we don't, nobody can be completely self-dependent," He added.

"Only by joining hands can we achieve global Internet governance," He Zheng said, "With technical innovation and cooperation, we can open up new horizon, explore new potential, promote economic development and strengthen our ties as a community with a shared future."

Xi's speech inspirational: Sun Taoran

Sun Taoran, president of offline payment solution Lakala, said on Wednesday he was impressed by President Xi Jinping's speech at the World Internet Conference.

"I was impressed by two parts of the speech. One was about his comments on Internet security. I think security is particularly important in online finance. There has to be a balance. When we try something new, there also needs to be risk management. The second part was about connectivity of Internet. Internet is supposed to connect people for the common good. It's the people who should be benefit from the Internet age, " said Sun.

"It was definitely an inspirational speech. It means a lot to the dotcom industry for three reason. First, at the age when IT industry changes everything, new tech makes it possible for online financing to do what traditional financing cannot do. Moreover, information technology only makes sense in China when 1.3 billion Chinese people can benefit from it. Online financing is helping with it, using technology for bigger good. Third, the Internet Plus initiative will make online financing industry's development is truly customer-friendly."

China determined to use Internet to become more open: Researcher

The determination of China to use Internet to become more open is unquestionable, said Wu Jiangang, a researcher from CEIBS Lujiazui International Finance Research Center.

Here's what Wu said after President Xi Jinping's speech at the opening ceremony of the 2nd World Internet Conference, in Wuzhen, Zhejiang province, on Wednesday.

Openness and sharing is in the gene of Internet. China is using Internet to promote a more modern economy, a more open society and a more enlightened politics.

Though China is now in a better situation, with a positive outlook, it still needs to be cautious and better run in small steps.

On the World Internet Conference, Chinese President Xi Jinping proposed that states around the world should strengthen communication, expand consensus, deepen cooperation and work together to build a common destiny in cyberspace. Internet essentially belongs to all mankind.

China large-scale application of Internet is not only bringing more business ideas，more cheaper technological innovations and cheaper technological applications but also management experience, which is a welcome and happy thing.

Right time for a smooth information silk road: Shi Lirong

Shi Lirong, the president of ZTE Corporation, said ZTE is designing for a smart city by making the most of big data at the sub forum themed "Building a Digital Silk Road for Win-Win Cooperation-Information Infrastructure Partnership" in Wuzhen on Wednesday.

He stresses the fundamental infrastructure is vital for an interconnected world in the future as ZTE has invested its 10 percent of its revenue into research and development.

In 2015, ZTE introduces the upgraded idea of creating a smart city through building up a city operation platform in order to collect and share all the information in transportation, education and government affairs.

Such a platform would increase the efficiency of city operations.

In addition, ZTE is also looking for ways to make full use of the big data they collect. The decisions on city operation will be made scientifically by using big data rather than just depending on city governors' wisdom.

Xi's speech warms integrated circuit industry: Xu Jinghong

It can be told from President Xi Jinping's speech that the government has made integrated circuit industry one of the instrumental tech sectors, said Xu Jinghong, president of Tsinghua Holdings.

Integrated circuit technology lies in the core of cyberspace infrastructure and the establishment of different online platforms, Xu said.

"We want to make a clean and safe cyber world. We want to make better computing tech. Only through integrated circuit sector can all of these happen," he said.