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Ding also outlined four strategies guiding the company's future development: the cultivation of younger generation of leaders, an emphasis on fostering star products; deepened commitment to the Chinese market through internal incubation, investment and partnerships; and empowerment of individuals through its products and services.

Does that presume that the company needs to be broken up?

Despite their importance to the economy, domestic service providers still rely heavily on traditional brick-and-mortar business models and have yet to fully embrace digital technology to boost efficiency and improve customer experience, according to Alipay.

Digitalization can assist the entire cycle of clinical trial, regulatory compliance, to the commercialization of drugs, said Tal Rosenberg, senior vice-president of IQVIA Global Technology Solutions, a US-based company serving the combined industries of health information technology and clinical research.

Dexter Burleigh, president and CEO of Surge Energy, a US subsidiary of Shandong Xinchao Energy Corp in Texas, echoed that sentiment.