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 Shen Ya, CEO of vip.com, to learn his 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: As the Chinese economy has entered its new normal phase, the government has lifted its Internet Plus concept to a national policy, encouraging grassroots entrepreneurship and innovation.
Innovation-driven development and expanding the space of the network economy have been listed as a key direction during the 13th Five-Year Plan (2016-20) to promote the integrated development of the Internet, economy and society. This is good news for vip.com, an innovative e-commerce enterprise which relies on Internet Plus.
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?
Opportunities: I always believe that innovation is the main theme of the Internet industry and the core competence of Internet enterprises' long-term development. We should not only continue to innovate in the technology area, but also have an open mind in business model and organizational management.
Challenges: When the Internet economy takes a greater proportion of national economic development, network security also plays an increasingly role.
What we need do is to pay attention to network security and improve the defense ability of network security using core technology, talent cultivation, management coordination and improvement of related law knowledge.
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: Financial services. In 2015, the Internet consumer finance market is in a new node. In an era of the experience economy, businesses make use of Internet technology to co-create an experiential earning model with specific consumers at a specific time, place and situation, so the consumer finance field will be a "blue sea" that Internet finance enterprise can dive into.
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: The Internet Plus and innovation strategies launched by the government have provided e-commerce companies with a historic opportunity of going global and connecting with international supply chains. That is, overseas goods of high quality could be introduced into China through cross-border e-commerce platforms, and excellent Chinese brands and products could be taken to the world.
Q: If you were to give an Internet startup just one piece of advice, what would it be?
A: Stay low-profile and do solid work. There is no shortcut for entrepreneurship, all you can do is to hold on until the end.
Trailer of World Internet Conference
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