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"But millions of SMEs are under-served, whose demand for tailor-made communication services represents almost a 500-billion-yuan (.5 billion) market. That is what Alibaba is interested in," Yu said, adding it is not a competitor but complements telecom carriers' services.

"China has fabulous designers, a large market, and outstanding brands, but it needs to make global consumers aware of the charm of Chinese brands, which certainly can be promoted on a bigger stage," he said.

"But when Android is not available, Harmony can be applied immediately to smartphones. Harmony is ready," Yu added.

"By the end of this year, we plan to finish establishing remote monitoring systems in major hazardous enterprises. We will also speed up automation of those industries and blacklist violators of safety regulations," he said.

"China is taking the initiative to reduce production capacity based on its own national conditions. The efforts are to make the growth model and economic structure move to new economic drivers," he added.