The 2017 Global Internet Economy Conference (GIEC) kicked off at the Beijing International Convention Center on Sept 5, ushering in the new era of Internet of Everything (IoE).

The two-day event attracted hundreds of China's internet giant and institutes, including Tencent, Baidu, Alibaba, 360, Microsoft China, China Unicom and Beijing's Central Business District.

A forum series was organized for the event, covering topics including digital business, intelligence, cross-border e-commerce, smart ecology development, big data and financial science and technology.

Alibaba's Qianxun SI invited Xiaomi and 360 to join in a roundtable. Ping An of China held a product release conference, providing science and technology solutions for finance.

The 2017 Global Internet Economy Conference (GIEC) kicked off at the Beijing International Convention Center on Sept 5. [Photo/zhsp.gov.cn]

China has started research and development on fifth generation mobile networks, and it plans to build an open R&D platform for 5G technology this year, with the technology being fully commercialized by 2020.

The consumption of information is expected to generate 6 trillion yuan ($916 billion) with an average annual growth of over 11 percent.

IoE is a broad term that refers to devices and consumer products outfitted with expanded digital features. It is a philosophy in which the future of technology is comprised of many different types of appliances, devices and items connected to the internet.

GIEC, as a leading convention for the internet industry, aims to drive innovation and seek new opportunities for cooperation between internet giants.

Liu Xiaoke, vice-president of Yiche.com, delivers a speech during the 2017 Global Internet Economy Conference. [Photo provided to chinadaily.com.cn]

Edited by Zachary Dye