Han Ximin

1824295095@qq.com

HEAVYWEIGHT entrepreneurs gathered to share their insights on the development of digital economy, smart manufacturing and artificial intelligence during the two-day 2023 Yabuli China Entrepreneurs Forum Summer Summit, which concluded in Shenzhen on Saturday.

The summit featured over 100 speakers who presented their ideas on a wide range of hot topics, including the drivers and challenges of economic development, the integration of the digital and real economy, and the application of artificial intelligence in the manufacturing industry.

At the Drivers and Challenge of China’s Economic Development forum, Yao Yang, head of the National School of Development, Beijing University, emphasized how new technologies are replacing traditional labor with machines. He stressed that innovation is the driving force behind China’s sustained and high-quality economic development.

“The future power of China’s economy lies in innovation,” Yao said.

Zhang Jun, chief economist of China Galaxy Securities, believed that China’s economic reforms have created a more favorable policy environment and external conditions for people to pursue a better life. Based on these factors, he predicted that China’s economic growth will continue to move forward.

Ren Ren, associate dean of Peking University HSBC Business School, pointed out that economic growth fundamentally relies on the continuous development of markets, including the opening of new markets and expansion of existing ones.

“The world is currently grappling with the dilemma of identifying new sources of demand and how to upgrade consumption,” Ren said. He suggested that enterprises cater to new demand while adhering to the original market pattern.

“Growth is not only a macro issue; it also comes from the efforts of individual market entities and entrepreneurs who must think innovatively, develop, and create,” Ren added.

Dataization and digitalization are characteristics of our era and crucial elements for economic development. Yu Yu, founder and chairwoman of e-commerce company Dangdang, stressed that all enterprises, including those in the real economy, need to rely on dataization and digitalization to upgrade their operations.

“Dangdang embraced digital reforms long ago, and digitalization has allowed more readers to enjoy reading,” Yu said.

At the Development of Intelligence Manufacturing forum, entrepreneurs shared thoughts on industrial innovation.

“Over the past decades, there has been relatively little original innovation, which doesn’t align with our overall industrial capacity and the country’s economic strength. Industrial companies should focus more on creativity, original innovation, material innovation and functional original innovation,” Zhang Yue, chairman of Broad Group, said.

“China has robust manufacturing capabilities, but creativity is not enough,” Zhang added.

Zhang believed that there are abundant opportunities for innovation in the industrial tech field, particularly in areas such as wind power, the automotive industry and electric cars.