ROME (BLOOMBERG) - China will apply to join the Digital Economy Partnership Agreement, which currently covers Singapore, New Zealand and Chile, to strengthen international cooperation on digital regulation, President Xi Jinping said.

"China attaches great importance to international cooperation on the digital economy," Xi said in a virtual speech during the Group of 20 leaders' summit in Rome.

"China stands ready to work with all parties for the healthy and orderly development of the digital economy."

Mr Xi called on countries to discuss and develop international rules for digital governance that respect the interests of all sides, and foster an open, just and non-discriminatory environment for digital development.

China has previously proposed a set of rules designed to prevent foreign governments from acquiring data stored locally, part of its attempts to set global standards for the digital sphere. At the same time, the United States also intensified its effort to restrict Chinese companies' access to the private data of Americans, which could reshape the global economy for decades to come.