On the evening of July 1, the "2019 Summer Davos Night of SINA Finance—Night Talk of Zhisland" jointly sponsored by Sina Finance and Zhisland was held in Dalian. Jiang Xipei, founder, Chairman of the Board of Directors and Secretary of the Party Committee of Far East Holding Group, was invited to attend and address this event in the company of Du Jicheng, investor and Far East Cable Sales Head (General Manager of Dalian Co., Ltd.).
During the talk themed "China"s Innovation in the Era of Globalization 4.0", Jiang Xipei, Xu Xun, Chief Executive Officer of BGI Group and President of BGI Research Institute, Qin Jun, President of Junzi Capital, Mei Songlin, Chief Data Officer of WM Motor, Gao Yifeng, President of Guiniang Group, and Han Wei, President of Han Wei Group, engaged in full exchange of views.
Scene of 2019 Summer Davos Night of SINA Finance—Night Talk of Zhisland
Jiang Xipei delivers a speech
In his speech, Jiang Xipei said that some innovations are conventional, while some innovations are disruptive. Conventional innovations happen every day, but disruptive innovations are difficult. "What I mean by saying ‘disruptive innovations’ are unprecedented innovations," said Jiang, "Therefore, it is necessary to keep pace with market trends and stay abreast of customers" pain points so as to provide strong support for our customers’ growth and development. What our customers care is how much market resources you have and how much strength you possess to help them solve problems."
He pointed out that it is relatively simple to learn from others. For example, if you learn something from overseas that is still unavailable at home, it is also a kind of innovation. However, a real great, sustainable enterprise must be in the lead of the industry and the global trend. Only in this way can it go from strength to strength.
"The United States, the largest country in the world, has waged a nationwide campaign against Huawei," Jiang Xipei explained by taking Huawei as example, "The key reason lies in the sound development of Huawei, a communications giant benefiting people, our country and the whole world. Such boundless benevolence and broad mind show that Ren Zhengfei is indeed a hero of our entrepreneurs and our people."
Thirty-four years ago, Jiang Xipei started a business in instruments and meters. At first, he repaired clocks and watches, and then produced clock and watch parts. But his first venture failed, so he turned to cables. Through years of development, he managed to guide Far East to become a national leader, and since then, the Group has held the lead in the industry.
Jiang Xipei said that the Far East"s innovation along the way also includes business model innovation. At that time, most enterprises sold products through hardware, electric and chemical business units or mechanic and electric companies, the Far East, however, didn"t follow suit — it first set up points of sales across the nation, then simplified production and gradually realized the scale effect. "In the early stage, we set up a lot of shops similar to the current franchised stores in the whole country, and then we vaulted into the lead."
Jiang Xipei added that most companies at that time were waiting for customers to come, but the Far East took the initiative to find customers. Under the shortage economy, jury-building, cheating and noncompliance were very common occurrences among entrepreneurs, but the Far East stuck to offering customers best products and services till today. It is also a kind of innovation. Jiang Xipei concluded by saying, “In fact, as long as you have the awareness and willingness to innovate, you will do better and better in the future.”
Other industry leaders present also expressed their insights and views on innovation based on their respective field under the trend of globalization 4.0.
Xu Xun, Chief Executive Officer of BGI Group and President of BGI Research Institute
With regards to life science, Xu Xun, Chief Executive Officer of BGI Group and President of BGI Research Institute, said that although technology and talent may hinder the innovation in the field of life science in the future, the rigorous regulation remains another problem, since this field is closely related to human health. Therefore, this field needs to innovate, but more needs to ensure compliance and shoulder social responsibility.
Qin Jun, President of Junzi Capital
As an investor, Qin Jun, President of Junzi Capital, does not advocate "Flying Pig Theory". She said, "Most tail wind comes from our circle of friends." She believes that the biggest mission of an entrepreneur is to find a universal development theory enabling a more inclusive business path and mode, whilst driving the development of his/her own enterprise.
Mei Songlin, Chief Data Officer of WM Motor
Mei Songlin, Chief Data Officer of WM Motor, said that many industries have achieved electrification and Internetization, but car-making is still in the mechanization stage. New-energy vehicles need not only to achieve electrification, but also make inherent changes, or, to put it more clearly, to make cars electric-driven, intelligent, Internetized and available for all.
Gao Yifeng, President of Guiniang Group
Gao Yifeng, President of Guiniang Group, believes that globalization 4.0 has brought both challenges and opportunities for liquor industry. First, traditional industries have to combine tradition and modernity. Second, Chinese liquor culture should achieve globalization.
Han Wei, President of Han Wei Group
Han Wei holds that in this era when the Internet of Things and information-based big data are developing by leaps and bounds, no industry is small, for no matter how niche a product is, it could see a surge in business turnover, as long as it specializes and excels in what it is doing.
At this Night of SINA Finance—Night Talk of Zhisland, many great minds were brought together to engage in full exchange of unique views, making this event a class full of substance. Specifically, these industrial leaders offered their respective answers to how to take advantage of global innovation plan, how to enhance innovation ability, how to crack hard nuts hindering scientific research and other questions, gave insights into those attempts and breakthroughs made by Chinese national enterprises to grapple with new trends, and had a discussion on Chinese innovation. As the globalization is accelerating and the fourth industrial revolution is right around the corner, it is necessary, especially for industry leaders, to keep "globalization 4.0" in perspective and identify an innovation road for Chinese national enterprises through collision of ideas and in-depth exchange.