News & Events
News
Media Focus | Professor Wu Xiaobo: How Does the Chinese Enterprises and Entrepreneurs Achieve Healthy Growth in the New Normal
Date:2016-05-16 Readed:648 【Print

 

Media Focus | Professor Wu Xiaobo: How Does the Chinese Enterprises and Entrepreneurs Achieve Healthy Growth in the New Normal

  “Nowadays, many people regard the new normal as a bad condition,however,actually , the ever increasingly upgraded requirements on high quality on the basis of the well-off level in China is in the eve of actual outburst.” professor Wu Xiaobo, dean of the School of Management of Zhejiang University and the director of innovation management base,said in 2016 Ruihua Spring Forum.

  He pointed out ,to the Chinese enterprises which focus on the healthy development, the new normal represents the coming of a better era .What’s more,the enterprise’s innovation is the key to keeping the dynamic balance between support side and demand side.

  At the beginning of 2016,the Chinese economy maintained its growth momentum with a series of key economic data .For example,The General China Manufacturing Purchasing Manager’s Index(PMI) came in at 50.2 in March,up from February’s 49,returning to expansionary territory. The sub-index measuring production stood at 52.3,up 2.1 points from a month earlier and continued to be above the critical point, indicating the boost of China’s manufacturing activity.

  Under the smooth economic transition,Prof.Wu Xiaobo showed his confidence on the prospect of China’s enterprises,considering the new opportunity coming from the demand side.He indicated that China’s market demand would continue to grow and the whole social’s demand would experience a lager and more profound structural upgrading.

The New Normal:A Better Era for the Enterprise

  At this year’s Singles Day ,the growth in sales of high-end goods will exceed the normal product.China has about 100 million middle class and it is this rapidly expanding middle class that will lead to a growing demand for high-quality product . At present, the ever increasingly upgraded requirements on high quality on the basis of the well-off level in China is in the eve of actual outburst, which calls for side supply to provide qualified products, service and brands featuring sound reputation.Furthermore,it is a great opportunity for outstanding enterprises.

  The structural change in the demand side will attribute to the new qualitative change in the supply side.In Prof.Wu’s views,overcapacity in the supply side and high manufacturing costs are two main problems of China’s enterprises. The supply side and the demand side fluctuate constantly which can be solved by strengthening enterprises’ competitiveness and capabilities.Also,the so-call middle-income trap has to do with the enterprise capabilities. The reason why Japan,Korea and Singapore can leap the middle-income trap is that their enterprises have very strong, endogenous and independent innovation ability.

 What’s the Key to the Development of China’s Economy

 The new supply-side structure driven by innovation is the key to promoting the development of China’s economy.Consequently, enterprises and government should enhance the investment in the innovation resources,namely, the investment in human resources and technology ,to solve the problem of”people” and “money”.Most significantly ,the enterprise need to improve its scientific management and innovative ability ,including organizational transformation,core competence and innovative strategy problems,which compared with the advanced enterprises, there is still a big gap.

  At the mean time ,improving the legal environment is of importance, which will play an essential role in achieving superior bad discard during the next round supply-side reform.

Faced with Difficulties, Entrepreneurs Should Keep Learning

  At last,he emphasized ,”confronting with challenges,the enterprise should comprehensively deepen the scientific management system and enhance the organization transformation. The entrepreneurs should develop in the process of continuous learn and negating the original learning achievement .”                                                                                                                  

Download:Professor Wu Xiaobo: How Does the Chinese Enterprises and Entrepreneurs Achieve Healthy Growth in the New Normal                                         

HomeAbout UsNews & EventsFaculty & ResearchInstitutesCooperationContact Us
Copyright © All Rights Reserved National Institute For Innovation Management
All rights reserved:National Institute for Innovation Management
Tel:0571-88206889 Fax:0571-88206892 Email:niim@zju.edu.cn