A robot is displayed at a news conference in Beijing, March 30, 2017. [Photo/IC]

China is committed to developing a digital economy with openness and shared benefits and the rapid development of the country's internet is visible proof of its success, said Ren Xianliang, deputy director of the Cyberspace Administration of China.

Ren reiterated that China advocates the free flow of information and welcomed foreign businesses to work in the country, on the condition that they abide by local rules and regulations.

"We welcome global internet companies to develop their businesses in China. But this is based on the premise that they will obey the local laws," Ren said at a State Council Information Office news conference on Thursday.

He said that China will host the fourth World Internet Conference in the river town of Wuzhen, Zhejiang province from Dec 3 to 5. Leading domestic and overseas internet tycoons will attend the conference, including Alibaba Group Holding Ltd's chairman Jack Ma, Tencent Holdings Ltd's CEO Pony Ma and Baidu Inc's chairman Robin Li and foreign giants such as Microsoft and Qualcomm.

Twenty sub-forums are planed during the event from Dec 4 to 5, covering topics related to the digital economy, cutting-edge technologies, the internet and society, cyberspace governance and the community of shared destiny.

By Nov 7, more than 400 enterprises had confirmed their participation in the Light of Internet Expo, including 419 exhibitors. Some 126 companies will showcase their latest products and technologies at the event.

For the first time, the conference will release two blue books - World Internet Development Report 2017 and China Internet Development Report 2017. The former will explain the current situation and development trend of the internet industry around the globe, such as innovation ability, industrial development, internet application and cyber security. The second report will summarize China's experiences in internet development.

Ge Huijun, publicity chief of Zhejiang province, said since the first World Internet Conference was held in Wuzhen in 2014, the region has experienced fast development. As of September, Wuzhen boasts 148 registered internet companies, with the total registered capital reaching 4.04 billion yuan ($609 million).