Today marked the grand opening of the 14th China Smart City and Intelligent Economy Expo in Ningbo, Zhejiang province. Since its inception in 2011, this annual event has evolved into a pivotal platform for collaboration and exchange within the digital economy landscape, not only in Ningbo but also on a broader scale.

Scheduled to run until Sept 8, this year's edition is being held across a sprawling 30,000 square meters. It features a comprehensive digital economy pavilion alongside four themed pavilions dedicated to digital transformation, digital scenarios, future industries, and AI-driven technologies.

With a lineup of nearly 300 exhibitors, including industry giants such as Huawei, Alibaba, Inspur, and Hikvision, as well as innovation powerhouses like Yongjiang Laboratory and the School of Electronic Engineering at Tsinghua University, attendees can anticipate a firsthand look at cutting-edge technologies spanning AI, humanoid robots, and intelligent connected vehicles.

Among the participating companies, which include eight Fortune 500 entities, over 40 percent are participating in the event for the first time.

In a groundbreaking move for the expo, a pilot initiative aimed at facilitating the digital transformation of small and medium-sized enterprises will be unveiled, complemented by a dedicated provincial intelligent Internet of Things industry cluster exhibition area.

Another new addition to this year's proceedings is a multi-city exhibition featuring Ningbo and four other cities, which is part of a national program aimed at driving the digital transformation of small and medium-sized enterprises. These cities will showcase advancements in digital transformation within their respective spheres.

Beyond the exhibition floor, approximately 200 industry leaders within the digital economy sector, including close to 10 academicians from the Chinese Academy of Sciences and the Chinese Academy of Engineering, will engage in insightful discussions on the latest trends and pressing topics in the digital economy domain. Conversations will touch upon themes such as new industrialization, data reality integration, and artificial intelligence.

Ningbo, the host city, has long prioritized the advancement of the digital economy, aiming to establish itself as a model city for the seamless integration digital and real economies. In 2023, the city's digital economy added value surged to 867.4 billion yuan ($122.42 billion), constituting 52.7 percent of its GDP.