China's digital economy on the rise: new engine, new opportunities

Tim Clancy (1st R), an Australian who has lived in Hangzhou for six years with his Chinese wife, takes his American friend to buy breakfast through mobile payment in Hangzhou, east China's Zhejiang Province, April 14, 2017. With a fortune of 295 billion yuan (about 46.6 billion U.S. dollars), Ma Huateng, founder and CEO of internet giant Tencent, is now the wealthiest person in China. The business leader, also known as Pony Ma, has jumped 23 places to be ranked 15th globally, according to the Hurun Global Rich List 2018 released on Wednesday. Behind the rise of Ma and his company is China's flourishing digital economy, which has been a story of commercial success. The digital economy is not only reshaping the Chinese economy and changing people's day-to-day life, but also creating enormous business opportunities for foreign companies. (Xinhua/Huang Zongzhi)