Raj Reddy, professor of Computer Science and Robotics at Carnegie Mellon University. [Photo provided to chinadaily.com.cn]

"It is a very instructive speech. It shows that Chinese leaders have all the principles in place, now they need to execute. Right now China has connected half of its population, how will it connect the other half will be the main challenge", said Raj Reddy, professor of Computer Science and Robotics at Carnegie Mellon University.

The Third World Internet Conference is under way in Wuzhen, Tongxiang of East China's Zhejiang province, until Nov 18.

The conference, whose theme is "Innovation-driven Internet Development for the Benefit of All – Building a Community of Common Future in Cyberspace", is composed of forums, an expo, and a launch event in addition to the opening and closing ceremonies.

It will hold 16 forums covering 20 hot issues, such as internet economy, internet innovation, internet culture, governance in cyberspace and international cooperation on internet.

The annual event comes against the background of China's evolution into the world's second-largest economy with the world's largest base of internet users and a dynamic homegrown internet-driven industry.

The event has attracted more than 300 enterprises from across the world this year.