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Ant is also involved in shaping China's digital currency architecture, according to the filings, which stated it is "one of a number of powerful commercial institutions" that the People's Bank of China, the central bank, summoned in late 2017 to develop the digital currency system.

Another case in point is the establishment of an artificial intelligence technology association earlier this month in Shanghai, bringing together 300 AI firms in the Yangtze River Delta region to share resources and assist each other.

Ant said the Alipay mobile app handled 118 trillion yuan worth of transactions in the Chinese mainland in the first half, in the year to June, while international transactions stood at 622 billion yuan. Some 80 million businesses have adopted the service till date, for which Alipay charges a fee, it said.

Another startup Pony.ai announced last week that it has raised 2 million, which its CEO James Peng said would speed up commercialization of its autonomous driving technology.

Another trend the report pointed out: China's internet market is very influential in terms of scale and impact as a considerable number of internet giants, start ups and unicorns－new, non-listed companies with valuations of more than billion－are competing with world magnates in the field.