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Digital wallets have gained tremendous popularity in inland provinces and regions, where residents rely exclusively on their smartphones and mobile carrier coverage to access the internet.

Ding Wuhao, president of 361 Degrees, said these moves will cash in on the company's continued growth by meeting the demands of many countries' burgeoning middle class.

Didi driver Zhong Yuan appears in court for sentencing, Feb 1, 2019. [Photo/The intermediate people's court of Wenzhou city]

Digital transformation is a revolution that calls for a top-down approach. Once the transformation's leadership team is determined, other levels of management will also be expected to embrace the changes. In practice, digital transformation is not simply about establishing big data platforms, purchasing hardware or installing IT systems. Enterprises need to develop a comprehensive plan to realize the value of digital transformation across the organization－from strategy to operations, from front-end to back-end, from client-side to service-side. In this way, the entire organization and its culture will be reimagined.

Director-General Tedros Adhanom Ghebreyesus made the remarks while speaking during an online panel discussion with the US-based Aspen Security Forum.