Zhongguancun Inno Forum held

Xu Jinghong, chairman of Tsinghua Holdings [Photo provided to chinadaily.com.cn]

The Zhongguancun Inno Forum, themed “transforming industry by sci-tech, boosting development with innovation”, was held on May 19 in Beijing.

The forum is an important part of the 19th China Beijing International High-Tech Expo. Guests were invited from government, high-tech zones, and domestic and international established enterprises; they also included some start-up teams. Topics ranged from innovation and start-up eco-systems to integrated innovation and industrial transformation and upgrading.

Xu Jinghong, chairman of Tsinghua Holdings, attended the forum and made a keynote speech. He believed that innovation is the spirit of this age, which requires entrepreneurs to be fully invested in leading their companies to be more innovative and globalized. At the same time, entrepreneurs should be more aware of the realities facing their companies and try to create more value. Blandishments are not able to vitalize a company, nor is blindly following trends.

In his speech, Xu said that “sci-tech is developing unprecedentedly fast and even explosively...if one cannot adapt to the changing circumstances, one will not be able to innovate, let alone develop.” Besides, “globalization of economy is irreversible...global competition is replacing regional monopoly and becoming a challenge for companies wherever they are located.” Therefore, “China should change the force driving its development from production and investment to innovation…For a company, this means it should be innovative in terms of its technology, development mode and path,” Xu said.

Although changes are inevitable, four company principles should be sacrosanct: “to produce products with good quality, to lower costs, to be more and more efficient, and to spread fast and wide,” Xu added.

In Xu’s eye, “a company should make steady progress, paying less attention to the so-called investment valuation. The core of a company’s vitality lies in its ability to create value, rather than talking sweet words, jumping on bandwagons, or following the crowd blindly.”

At the end of his speech, Xu highlighted support for the development of technology enterprises, which will be China’s engine of innovation.