Chinese entrepreneurs remain optimistic despite economic downfall
Updated: 2015-08-31 14:43
By He Yini(chinadaily.com.cn)
He Zhiqiang, president of Ecosystem and Cloud Services for Lenovo Group Ltd., says while you can have an idea on the stock market, you never know when that next entrepreneur will come with their idea that can change the world.
"Some investors would flinch and pull back during a volatile stock market, but never so when they see a great project," said He Zhiqiang.
Song Annan, a partner of Softbank China Venture Capital, said they are mainly investing in the trending areas known as TMT (Tech, Media and Telecom).
"Entrepreneurs are looking at business opportunities based on a three to five year plan. They are finding a skill and using it to drive the economy. It's all about saying ahead of the game," said Song.
Mobile Internet is leading the way
China has become the world's biggest smartphone market, with penetration rates reaching as high as 62 percent, according to a report released by the Global System for Mobile Communications Alliance.
The report said sales on 4G models are leading the way. And 4G connections, which makes mobile surfing faster and easier, is estimated to reach 1 billion by 2020.
"It's the best of the times for entrepreneurs to integrate mobile into their business plans. People's lives have increasingly become on-the-go, and mobile internet fits nicely with that lifestyle." said Lou Jun, vice president of IDG Capital.
"Right now opportunities in the mobile industry are all over the place. The next BAT(Baidu, Alibaba and Tencent) giants are most likely the ones to emerge in this game-changing mobile era," Lou added.
Ke Zunyao, chief operating officer of the e-tailer beibei.com for mom&baby products, says this trend is here to stay. "There's no going back now. And if a person is still hesitant on going mobile, his business may soon be left behind as the mobile world continues to grow at rapid speeds", says Ke.
"User experience is crucial. You need to have great products and personified services. The industry is big, so you need to have something that makes you stand out."