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"Digitalization will be a core factor to help drive a quality growth for China's industrial development. Chinese companies, such as Mino, has been actively engaged in development of digital business," said Wang Haibin, executive vice-president and general manager of Digital Factory Division, Siemens Ltd, China.

"Despite the fierce competition, we finished the fiscal year with double-digit growth of new orders, outperforming major key players," Chan said, without disclosing detailed financial figures.

"Data is the new oil, from an aggressive perspective," Kardel said.

"Expectations of a recovery in China's credit expansion figures for January, which indicate improved economic fundamentals, also raised foreign investors' interest in Chinese stocks," Zhang added.

"Digitalization is already a key driver and enabler of transformation for companies operating in the Chinese market, and we expect this to become another significant dimension of efforts to enhance connectivity within and among countries and regions related to the BRI," said Barber.