Sina CEO: All industries can use the Internet to create new business models
Charles Chao, Chairman and CEO of Sina Corp, said that the lack of laws has restricted the healthy development of the Internet. As the Internet grows quickly, it is necessary to build up legal systems.
China as the Leading Country in Mobile Internet Business
Beijing News: In your opinion, what is the biggest change brought by the Internet to our economies and our lives?
Charles Chao: The Internet changes our societies and economies in all aspects. We canonly see a small part of that influence now, such as the way we obtain and spread information, the way people communicate or make transactions, and communication methods in the future. It influences all areas including lifestyle, society, economy and politics.
Beijing News: There is a saying that we lagged behind other developed countries in the previous revolutions, but in the Internet age, especially the mobile Internet age, all countries are on the same starting line. Do you agree?
Charles Chao: Yes, I do. The development of the Internet in Chinaand other countries is almost synchronous. This industry gained a large amount of financial and national policy support in its early years. Global corporations, based inChinaand theUS, dominate the Internet. The Chinese market is big enough for large Internet companies.
We are far more advanced in mobile Internet business. We have so many applications that we are already doing better than the US.
Online Privacy Protection Lacks Legal Supervision
Beijing News: Is there any difference between the Chinese Internet industry and those in other countries?
Charles Chao: China still lags in the application of the Internet. Chinese companies should take advantage of the Internet to improve the information construction and the benefits of the whole industry. China might be slow in information construction, but it will be very soon before we catch up.
Beijing News: In which aspects do we lack proper laws?
Charles Chao: In past decades, the lack of laws restricted the healthy development of the Internet, but now it is very important that we build up the legal system as the Internet grows. We have made great improvements in recent years, but we still need to spend more effort on legislation and implementation of laws. Take the protection of intellectual property right as an example, the legislation is well-rounded, but it shows little effect of encouraging companies to invest and innovate.
In some areas, such as Internet fraud crimes, the law is also lagging behind. The credibility and security of online transactions and services has to improve. The protection of privacy, rumours and personal attacks all lack legal supervision.
For Internet law systems, we need to improve the laws on one hand, and also consider the special features of the Internet in legislation and implementation.
Good Products Attract More People to the Internet
Beijing News: The Internet covers many industries, which one do you think will boom next?
Charles Chao: The influence of the Internet is all-dimensional. All industries can use the Internet to create new business models, which means changing every single industry in the future.