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"From a closed economy to a competitive market economy, it has happened in phases given the size and the depth of the economy," she said. "The leadership has adjusted opening-up in a sequenced way that it has not disrupted too much the economic fundamentals."

"From cross-border trade, to free trade zones, and the China International Import Expo... what we see as a foreign company is a more and more open market in China. It not only means simplified procedures and efficiency, but actually boosts business."

"For countries nowadays, data is the crown of trade. Promoting the opening and flow of data is part of the capital's efforts to drive data for advanced productivity," said Tang Jianguo, vice-director of big data application and industries at the Beijing Bureau of Economy and Information Technology.

"G20 countries should enhance cooperation on taxing digital economy and seek a consensus-based solution by 2020," suggested Zhu, who also mentioned that digitalization of the economy should raise issues with respect to tax evasion and money laundering.

"Fiscal policy must contribute to achieving these goals through a progressive and efficient taxation system, and effective and equitable public spending," the report said.