Editor's note: The Second World Internet Conference, also known as the Wuzhen Summit, is taking place in Wuzhen, Zhejiang province. China Daily reporters interviewed Jia Yueting, Chairman and CEO of LeTV Holdings Co Ltd, to learn their views.
Q: What role is the Internet likely to play in China's next Five-Year Plan (2016-20) during the economy's new normal phase of slower, more sustained growth?
A: China's 13th Five-Year Plan (2016-20) says that the nation will be well prepared for the next generation of the Internet. We believe the next generation of the Internet will be led by ecosystem innovation that breaks boundaries. Empowered by technological and business model innovation, the first generation of the Internet no longer meets the demands of the coming era. Only when the industrial chain is vertically reconstructed and traditional industrial boundaries are removed, can we build a complete ecosystem and realize the biggest innovation.
Q: China aims to become a world leader in Internet technology. In what spheres do you think the country is particularly well placed to achieve this goal? What skills that China excels in do you think could be exploited to this end? What is the biggest hurdle that stands in the way of China achieving its goal?
A: China has already become a big nation in Internet application, with three to four times more people online than the United States, whereas Japan and South Korea are still industrial-driven economies. Only China has the world's largest scale of Internet, strongest manufacturing and electronics consumption capacity, and a long-standing history. China also has a great environment for cross-boundary collaboration. Despite strong resistance in this process, we believe that the global Internet ecosystem era will be spearheaded by Chinese enterprises.
Q: Which particular industry do you think is going to be "shaken" by the Internet, or which area do you find the most promising to apply the government action plan of Internet Plus?
A: The auto industry. I envision three major Internet user scenarios. The first mobile Internet scenario was cellphones. The second is the big screen Internet scenario－TVs. And the third should be a transportation Internet scenario－cars. Phones and TVs have all been fully connected to the Internet but the car is still merely a tool to move you from point A to point B.
The Internet vehicle era will see a new scenario where mobility is well connected to the Internet, enabling an amazing in-car experience.
Q: In China's Internet sector are there any areas (such as cross-border e-commerce, video or gaming) that you expect to do particularly well in the coming years?
A: I believe that in 2016 the opportunity window will be in sports. Incorporating the Internet with sports and other traditional industries is exactly LeTV's model. In particular, the integration of the Internet, sports and smart devices will be a huge opportunity window in 2016.
Q: If you were to give an Internet startup just one piece of advice, what would it be?
A: The companies that really change the industry and the world will never be those who wait around for opportunities, but those that are like eagles, breaking the status quo and exploring possibilities freely. We should become eagles and create the future for ourselves, for China.
Trailer of World Internet Conference
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Copyright © World Internet Conference. All rights Reserved Presented by China Daily. 京ICP备13028878号-23