Since 1998, we have invested 1 million yuan and built NVC to the scale it is today in 15 years. It can be said that we are the largest lighting company in China and even in Asia. This speed seems very fast to many people. But looking back, we can see that this process was actually very long. We ourselves have been thinking that since China's reform and opening up, China has had many opportunities, but why have we seized it while other companies have not? My feeling is that any success or failure is inevitable.
The economic miracle that China has created in the past 30 years of reform and opening up is inevitable. Only China can do it. It is not impossible for other countries to do it, but it is difficult to do it.
Let’s look at the national conditions at that time. In the early days of reform, the market was completely blank. As long as you dared to do something, you had a great chance of success. It can be said that the supply of any commodity at that time exceeded the demand, and the labor cost was low. The country also had preferential tax policies, tax rebates, etc. Many Chinese products were naturally very competitive overseas.
When I was abroad, I often heard foreigners complaining that we Chinese used low-price dumping to steal the Western market and obtain a huge trade surplus. I think this statement is very one-sided. China has low wages and low labor costs. This is a fact, and many of the goods we export are products from labor-intensive industries. When the West compares their weaknesses with China's strengths, they are naturally incomparable. On the other hand, in many high-tech fields, they block China and do not use their own advantages to compete with us. It is normal for them to lose opportunities.
So today I have a deep understanding that whether the success of enterprises during the reform and opening up period or the success of China's economy is inevitable. Today, China's economy has developed. Although many people complain about the system, our one-party system, and freedom of speech, this system is necessary in a specific historical period. I feel this particularly deeply from the corporate level.
When we were young, Chinese people of our generation heard people say, "Without the Communist Party, there would be no New China." At that time, we just listened and believed it. Later, after I went to college, I also began to wonder whether "without the Communist Party, there really would be no New China." To this day, I firmly believe that "without the Communist Party, there would be no new China." Although the one-party system has its disadvantages, it can make decisions quickly. Just like in the early days of a business, human and financial resources are limited. At this time, if you think you are a hero, you must centralize power to ensure execution, seize opportunities, and surpass your opponents. Without matter, freedom is empty.
Looking at our country today, although we have restrictions on speech, we must give political parties time and tolerance. I believe that our party’s strategic decision-making today is not blind. We have to give them time.
Looking back at our reform and opening up, although we have made great economic achievements, we have also paid a great price, such as environmental costs, integrity issues, etc. We Chinese are very smart, but the bad thing about many things is that we are too smart and like to take shortcuts and make a big difference. The first and second batch of businessmen who went abroad in the early days of our reform were too hasty, too fast, and even lacked integrity. Although this is a small number of people, it has damaged the credibility of Chinese companies and made it extremely difficult for Chinese brands to go global today. Now in many countries, when people think of Chinese products, they think of garbage. So today, what we at NVC have to do is to reshape the Chinese brand. In the recent Chinese Enterprise Brand List, NVC ranked 216th with a brand value of 8 billion yuan, not lighting, but the ranking of all Chinese brands. From 2009 to the present, NVC has been the preferred brand in the lighting industry. I can say that in the lighting industry, there is no company that disrespects NVC. In the process of running a business, I have always wanted to grow it quickly, because as I grow bigger, my reputation will increase, my influence will increase, and business will be easier to negotiate. But in addition to walking fast, I value walking steadily and well. This is like a sports competition. In walking races, there is rarely wrestling; in sprinting and hurdles, wrestling is rare.Much easier. Therefore, we at NVC have made it this far because we insist on stability.
When it comes to future market opportunities, especially those who want to start a business today, they have missed the opportunity of reform and opening up. Chinese brands have a poor image overseas, and they cannot compete with other surrounding countries in terms of low cost. How can we seize the opportunity? I think at this time, what is needed is innovation in concepts and models, and we cannot continue to follow the old path.
Today, China's market has matured, and every industry has strong competitors. It is difficult to surpass others in traditional industries using traditional models. So we need to innovate and seize the needs of the Chinese people. The order of Chinese people's needs is "clothing, food, housing, transportation, and entertainment." In the early days of reform and opening up, the first thing to do was make money by making clothes, because we Chinese are more concerned about face, and we can eat a little worse, but face is important, so we must wear better clothes.
After clothing, catering also started: In the past, we invited people to eat at home, and later we ate in restaurants. In the past, we all cooked and ate by ourselves. As we gradually became rich, people could eat in restaurants more often.
Then came housing, that is, the real estate industry, which left a deep impression on all of us. We at NVC Lighting belong to the real estate-related industry and also started during this period.
After it’s settled, it’s OK. Now that people have money, it's time to go out and have fun. During the long holidays, tourist attractions everywhere are crowded with people. In recent years, many international airlines have suffered losses, while Chinese airlines have made huge profits. So when it comes to travel, automobiles, and hotels, these industries are developing rapidly. In the past, only provincial capital cities in China had a few five-star hotels, but now many counties and even towns have five-star hotels, especially near scenic spots.
After that, there is music, which is the leisure, entertainment, and sports industries. I have invested in movies and held concerts before, but I lost money (audience laughs). It’s not me singing, it’s investment (audience laughing). But unfortunately, the time is indeed not yet ripe. In the past, movies that were successful at the box office in China were monopolized by a few people, but now, almost anyone can watch them, and the box office is pretty good.
The sports industry is also developing rapidly. Every time I come to England, I want to watch a football match. I found that not only in the Premier League, but also in League One and even League Two, people were very happy to watch it. China will also develop towards this trend in the future. Sports and concerts are now vibrant and rapidly developing industries in China. I believe the greatest opportunity for the future lies here.
When it comes to overseas expansion of Chinese companies, I think we must take advantage of our own advantages. The advantage of us Chinese people is that we are hardworking and smart. Many Western companies get off work at 5 o'clock and do not work on Saturdays and Sundays. We Chinese may not be as good as others in certain technologies, and our understanding of the local area is not as good as others, so how can we win the market? Rely on diligence.
One thing I often don’t understand is that our Chinese companies work overtime and slowly win overseas markets. As a result, many countries have legislation prohibiting overtime work. Even if you don’t work, why don’t you let me work? Doesn’t the West talk about human rights? Are you not depriving me of my right to work? So I've never been able to figure this out. But maybe this is why we Chinese are successful in many aspects.
We entrepreneurs, since we choose to start a business, are like athletes who choose mountain climbing. The air on the mountain is thin and the journey is difficult and dangerous. But why should he choose mountain climbing instead of playing ball, walking, or even going to bask in the sun? Since you choose mountain climbing, you choose to pay, choose to sacrifice, choose to challenge and surpass, and immediately move to the next higher goal after climbing the peak. London Business School is the world's leading business school. Many alumni and friends here have chosen to come here for this kind of challenge and transcendence. I believe everyone can understand this feeling.
I am very happy to share my experience with you today. Finally, I wish you all can realize your ideals in your career. Thank you all!
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