Intertwining with traditional sectors to be key

(China Daily) Updated: 2015-12-16 13:25

Zhang Jindong, Chairman of electronics retailer Suning Commerce Group Co Ltd. [Photo/IC]

A1 The Internet has played an important role in driving economic growth in the past five years. Its contribution to GDP climbed quickly and hit 7 percent in 2014. China's Internet retail sector also flourished into the largest in the world.

As China continues improving the Internet infrastructure, I believe it will play a more crucial role in the next five years, chiefly as a source of innovation.

New technologies such as the mobile Internet, the Internet of Things, cloud computing and big data will further impact manufacturing, logistics, finance and other traditional sectors. The Internet will help upgrade real economies and unleash new potential.

A2 Chinese enterprises and their foreign counterparts are now roughly at the same starting line. In some sectors such as e-commerce, we even possess greater advantages. This is our best opportunity.

This year, China rolled out the Internet Plus strategy to promote the integration of traditional sectors and the Internet. But currently, few enterprises have succeeded because it demands a lot of resources before we can fully leverage the Internet. Take the retail sector for instance, traditional enterprises need to have strong IT research and development capabilities, nationwide logistic systems and retail channels.

A3 No industry will be completely disrupted by the Internet. Instead, the future will see a full integration of the two. The Internet is just a tool traditional enterprises use to boost efficiency and services. The deeper the Internet penetrates into these offline industries, the bigger role it will play in upgrading traditional sectors.

A4 Retailing will be the most promising industry in China because the country has a huge retail market. Meanwhile, as the Internet is gradually approaching to become the core of the industry, it will generate more profound impacts and new growth points. This is especially so in the mobile Internet era, when smartphones enable deeper interaction between traditional sectors and the Internet. Their full integration will be the biggest growth engine for Suning and the trend of online-to-offline retailing is sweeping the whole industry.

A5 Entrepreneurship is a lifelong process. Every turning point, in fact, is the beginning of a new entrepreneurship. You need to study new technology and new business models, set up new goals and create new value.

Entrepreneurs need to bear in mind four points: Firstly, you need to grasp the essence of your industry. Secondly, It is important to plan ahead. How far you can see will decide how successful your career will be. Thirdly, remember you are an entrepreneur in times of pressure. Fourth, master your speed.