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Didi users will have direct access to ofo's bright yellow bikes in the app through fully connected services in registration, user authentication, deposit, ride payment, and customer support, according to a Didi press release Thursday.

Despite this, Chan also expressed optimism regarding the future of providing more effective solutions to ad fraud. To fight against the problem, industry regulators and players such as the China Advertising Association, Mobile Marketing Association China, Miaozhen Systems and Tencent have jointly rolled out universal measurement standards, including digital advertising measurement and verification software development kits. These can improve the oversight and evaluation of mobile advertising in a move to promote the healthy development of the industry.

Digital trade enabled up to 3.2 trillion yuan of economic value in the domestic economy in 2017, equivalent to nearly 4 percent of China's 82.08 trillion yuan GDP that year.This is significant, considering the economic value estimated for other Asia-Pacific economies ranges between 1 and 3 percent, said the Hinrich Foundation's Director of Public Affairs and Strategy Berenice Voets.

Diversifying financing

Development of the digital economy is listed as an important task for building a modern economic system in China and achieving high-quality development. In 2017, the country's digital economy hit 27.2 trillion yuan, 32.9 percent of the country's total GDP growth.