(Yicai Global) March 10 -- Computing power is the most important part of the digital era and can greatly advance innovation, according to Wang Jian, founder of Alibaba Cloud, the cloud computing arm of Chinese internet giant Alibaba Group Holding. He is also a member of the 14th CPPCC National Committee and an academician of the Chinese Academy of Engineering.

Cloud computing is the best way to provide computing power, and it is fundamental to the development of the digital economy, Wang said during the Two Sessions, China's annual policy setting meetings.

Wang raised two key points when speaking about the digital transition of small and medium enterprises. The vast majority of SMEs are private and they should become the main force of technological innovation, he pointed out, adding that building a sound environment is more important than funds when supporting them.

The second point was digitalization, as the digital transition of SMEs should be about industrial upgrading and not only making existing industries bigger and stronger, Wang said. Just as electrification brought great changes 100 years ago, digitalization marks the arrival of a new era, he added.

Speeding up digitalization is a general trend for social and economic development globally. The digital transition of traditional industries and SMEs must be accelerated to make them higher-end, smarter, and greener, according to the government work report released on March 5.

In the world of the future, Chinese companies must come up with new questions and problems instead of just solving existing ones, said Wang, who is also the chairman of the technical committee of Alibaba Group. 

Problems are part of the competitiveness in an industry's emerging stage, he noted, adding that if done correctly, technological innovation can advance the development of basic research, making it a main mission for scientific and tech workers such as himself.

The status of young people working in the scientific and technological sectors should be redefined so that they can play a key role in innovation and be looked on as global scientists, Wang said.

Editors: Shi Yi, Martin Kadiev