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In a congratulatory message to the 2023 China International Intelligent Industry Expo, Chinese President Xi Jinping highlighted the profound changes that emerging technologies like the internet, big data, cloud computing, AI, and blockchain are bringing to global industries and lifestyles. China has been placing a high priority on the development of its digital economy, actively promoting the deep integration of digital technologies with its real economy. As of 2021, China accounted for nearly 21% of the global digital economy, with a reported $12.4 billion invested in AI alone in 2020. While the message from Xi Jinping is optimistic about the transformative power of new technologies, it is essential to consider the broader context.