Year-End Special of "Dialogue" Focuses on Real Economy: Is It Really in a Deep Freeze? Dong Mingzhu, Zong Qinghou, and Li Dongsheng Speak Out!

As 2016 draws to a close, have you achieved your small goals? Whether you have or not, remember that we are all on the journey. The year-end special of "Dialogue" focuses on the real economy. Is the real economy really in a deep freeze? Let's see if the industry leaders who contribute to China's real economy have achieved their small goals in 2016.

Key Insights from the Experts:

Zong Qinghou, Chairman of Wahaha Group: E-commerce will impact the retail industry, but it cannot replace it.

Dong Mingzhu of Gree: When my products become outdated, that's when my generation comes to an end.

Li Dongsheng, Chairman of TCL Group: The real economy, especially manufacturing, is the foundation of the entire economy.

Guests on this episode:

Dong Mingzhu, former Chairman of Gree Electric Appliances, Inc. of Zhuhai;

Li Dongsheng, Chairman and CEO of TCL Corporation;

Zong Qinghou, Chairman and General Manager of Hangzhou Wahaha Group Co., Ltd.

Li Dongsheng: I Endorse a Spirit of Industry!

At the "Dialogue" studio, Li Dongsheng, Chairman of TCL Group, said that his endorsement was, of course, partly due to budget considerations. "But I'm joking. At that time, we wanted to shoot a corporate image film. Our creative team suggested that since people nowadays don't pay enough attention to the real economy and industry, it would be best for me to endorse it myself if we wanted to make a film that promotes sticking to industry and strengthening the country through industry. So our team discussed creative ideas, and among several options, they chose that one. I had to listen to them, so I endorsed it. Actually, I'm not endorsing our products, but a spirit of industry. I'm very glad that a few days ago, when the Politburo met to discuss economic work, it seemed to be the first time they explicitly proposed revitalizing the real economy. Because the real economy, especially manufacturing, is the foundation of the entire economy. Of course, the whole economy is composed of multiple components, forming a complete structure. Finance, real estate, services, and the internet are all indispensable parts of overall competitiveness. But for China, a populous and economically significant country, manufacturing, industry, and the real economy must be the foundation of our entire economy. Just like a building, if the foundation is unstable, the whole structure is unstable. So at a time when returns on industrial investment are low and challenges are significant, it would be beneficial for China's development if society could give more encouragement and support to the teams and groups that stick to industry."

Wahaha Calmly Challenges E-commerce: Virtual Economy and Internet Have Gone Too Far

Zong Qinghou, Chairman of Wahaha Group, believes that the reform of the approval system has not been fully implemented. To invigorate the economy, many things haven't been invigorated. If you cancel the pre-approval, you still have to go through one approval after another when you actually operate. Moreover, investment costs are high. For industrial land, if land prices are set nationwide, who will invest the hundreds of trillions in between? Additionally, the virtual economy has gone too far, impacting the real economy. I think the internet has gone too far. I believe the internet is a platform. Using internet technology can improve the management level and knowledge level of the real economy, but now it is impacting the real economy everywhere.

Dong Mingzhu: When My Products Become Outdated, That's When My Generation Ends

In response to doubts, Dong Mingzhu, Chairman of Gree Electric Appliances, said on "Dialogue": "When my products become outdated, that's when my generation comes to an end." "Mr. Zong is a senior we respect very much. I think the biggest characteristic of our generation is responsibility. In fact, no matter what we stick to, we are constantly challenging ourselves. More importantly, it's the responsibility on our shoulders that determines what you do. When you decide to let go one day, you let go. As long as you haven't let go, you must fulfill your duties."

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