Seize opportunities amid crises and innovate while staying true to principles.

Strive to do well in both the tasks of survival and development.

Serve the overall development of the economy and society with greater commitment and initiative.

— Keynote Speech by Chairman Li Feilie at the Forum on “New Opportunities and New Approaches for the Development of Guangxi Business” (Part II)

Once the survival issue is resolved, businesses still need to focus on growth and development. These two goals are inherently complementary and mutually reinforcing. The so-called “crisis” actually presents an opportunity within the danger—though today’s dangers far outweigh the opportunities, there’s always a chance lurking within any crisis. Our ancestors’ theory of yin and yang is profoundly brilliant: when yin reaches its extreme, it gives rise to yang. Even in the most challenging times, as long as entrepreneurs can calm their minds and reflect deeply, they’ll discover that heaven will always offer us an opportunity for reversal. The question is whether we can recognize it—and whether we dare to embrace the mindset of letting go and embracing gain. Every major economic shock triggers profound transformations in businesses’ business models and management approaches. From one perspective, this also represents an opportunity to reinvent oneself. For those businesses that have been prepared, this will provide an even stronger foundation and further refinement of their growth strategies, enabling them to achieve objectives such as organizational restructuring, re-engineering of distribution channels, optimized resource allocation, and enhanced efficiency—thus setting the stage for even better future development.

Regarding how businesses can currently pursue growth, I’d like to share three points with you all here.

First, we must seize the momentum and proactively align ourselves with national policies. The current global uncertainty isn't just affecting individual companies or specific industries—indeed, all businesses worldwide are facing similar challenges. Even if the sky seems to be falling, there will always be taller individuals to hold it up. Starting from the U.S.-China trade war and extending to potential full-scale economic and even military confrontation between the two countries, governments around the world have already taken sides. Coupled with the ravages of the pandemic across the globe, governments everywhere are rolling out diverse policies to respond. Our government has also introduced unprecedentedly favorable policies to hedge against this uncertainty. For entrepreneurs, this represents an unparalleled opportunity: whoever is adept at leveraging this momentum—and does so more thoroughly than their competitors or peers—will find themselves in a position of great advantage. These profound shifts in production relations have prompted varied responses from different parties, and these responses, in turn, have created distinct opportunities for us entrepreneurs. We entrepreneurs can't change the environment itself, but we must adapt to the current circumstances. Private enterprises—especially those like the Gui merchants, who come from humble beginnings—should feel even more confident and adjust to the new environment more rapidly. Moreover, regarding how we can serve the broader interests of Guangxi, both Minister Xiong and Minister Xu have pointed out that the Guangxi government has already rolled out a wide array of policies—policies that are particularly generous and advantageous. For entrepreneurs with entrepreneurial aspirations and well-planned industrial strategies, these represent a rare and significant trend that we can fully capitalize on. Today, we have here the Secretary of Wuzhou Municipal Party Committee, the Mayor of Yulin, officials from various departments, and leaders from state-owned enterprises—all of whom, within their respective jurisdictions, have been highly active and promptly introduced numerous preferential policies. These policies offer our enterprises—those striving for development—a golden opportunity to take full advantage. In this era of profound transformation, it's not just us who are suffering; the national economy, local economies, and even governments at all levels are being hit hard. Yet, this very pressure is driving governments at every level to introduce unprecedentedly strong and diverse policies aimed at countering these challenges. Within these policies, new opportunities will emerge, providing substantial support for us entrepreneurs. This past four months have been extremely difficult for Feishang Group—so many companies have collapsed, yet we've remained standing, enduring the toughest moments and finally making it through to victory. Just as we're reaching this turning point, policy dividends have arrived, reinforcements are coming, and the central government, recognizing our situation, has introduced a variety of supportive measures. Banks, too, have stepped up with various forms of assistance. Many bank presidents, during our discussions, have emphasized that now is precisely the time for banks to flourish. Among the companies that have survived this shock, those that remain standing are truly resilient—they're the most vital and have successfully navigated this risk. Banks are inherently risk-averse institutions; under these conditions of a major pandemic and widespread upheaval, weaker companies would have long since fallen by the wayside. Those that have held on are the strongest and most robust. Some banks prematurely abandoned their high-quality clients, while others pressed forward aggressively, swiftly seizing market share in this challenging environment. For our enterprises, the national government, local governments, and banks all present the best opportunities for us to unite and re-energize ourselves. If we can make the most of these opportunities, they'll become our greatest business chance right now.

Second, seize business opportunities and boldly embrace technological transformation. Today, heightened uncertainty is driving rapid productivity growth, giving rise to new business opportunities—new technologies are emerging one after another, fueling increasingly granular industrial transformations around the world. In fact, these new technologies have created an excellent opportunity for latecomers to disrupt established players by leveraging cross-industry applications and upgrading existing industries. Let me return briefly to the topic of confidence. My understanding of confidence differs from that of Minister Xu. He speaks from a national perspective, with a political stance higher than mine; I approach it from a commercial standpoint, which means identifying business opportunities. Recently, I conducted an experiment aimed at integrating cutting-edge technologies—such as simple, mature IoT solutions—with agriculture and animal husbandry. Before the pandemic, people loved wild game, but in the wake of the pandemic, is wild game still safe? Many have already shifted their preferences and now prefer factory-produced food. This got me thinking: Could factory farming present significant opportunities? Could we leverage IoT, new materials, new energy sources, and other such technologies to connect with this traditionally backward and outdated industry? And what if we combined this with a brand-new business model? After all, change-makers harness new technologies to disrupt conventional practices, and when coupled with well-designed business models, once they align with local governments’ investment promotion efforts, collaborate with new technology R&D led by Principal Fan, and establish partnerships with banks, they can swiftly give birth to market leaders in niche segments—and even become pioneers in digital agriculture. Before achieving economies of scale, it’s extremely difficult to digitize previously lagging industries. But once traditional agriculture becomes industrialized and standardized, digitization becomes remarkably straightforward. We’ve also made an attempt during this period: We’ve started to rethink highly traditional industries like coal mining and smelting, asking ourselves whether we could use composite materials or experiment with integrating new technologies. If successful, the results could be astonishing. Since 2011, Feishang Group has been seeking transformation, and over the past nine years, it’s indeed faced tremendous challenges. Yet, in just the past six months, many of our businesses have made remarkable leaps forward. As long as we can integrate new and cutting-edge technologies into the industries we’re working on, and do so effectively, what we’ve lost in the past will become a burden no longer weighing us down—what we gain instead will be our future. From this perspective, changes in productivity are bearish for incumbent market leaders, but for those who are lagging behind or haven’t yet entered the market, recognizing this trend positions you as a potential winner. New technologies bring fresh business opportunities, and lower costs enhance enterprise competitiveness. This makes now an ideal time for companies to become leaders in niche or even micro-segments—especially in today’s internet-driven environment, where industries are becoming ever more fragmented. Back in the day, there were 360 trades; today, it wouldn’t be an exaggeration to say there are 36,000. Particularly in Guangxi, both at the autonomous region level and at the municipal levels, the intensity of investment promotion efforts is strong, and the willingness to develop the economy is very high. The government has introduced numerous powerful measures. By collaborating with the government, banks, technology providers (research institutes and universities), and even capital markets, we stand a good chance of leaping ahead to become new leaders in niche industries. Nowadays, going public is becoming easier and easier—as long as you have a business dream and can envision your enterprise from a future-oriented perspective, each of you here today can help create more and more niche-market leaders. And it’s precisely these industry leaders who truly hold the upper hand in investment attraction. Once entrepreneurs master new technologies and become potential industry leaders, they’ll have ample reason to become prized guests of local governments eager to attract investment—because as a leader, you’ll bring along a host of related industrial clusters. We’re not real estate developers or venture capitalists; we’re industry leaders. Seizing this opportunity, if a group of Guizhou-based enterprises can transform themselves into niche-market leaders, then despite the uncertainties brought on by the pandemic, this crisis will ultimately prove to be more of an opportunity than a threat.

I hope that more Guizhou-based entrepreneurs can follow in my footsteps—or even surpass me—by leveraging mature, cutting-edge technologies to transform their own industries or those of their friends and peers, thereby swiftly establishing themselves as industry leaders. I also appeal to the autonomous region’s Party committee, government, and local city governments: when attracting investment, don’t just focus on large, well-established enterprises; instead, direct your attention and vision toward these potential niche-sector leaders. By identifying future partners in specialized sub-sectors, you’ll ensure that these companies will take deep root in the local area and become true industry leaders. In the new era, once these potential niche-sector leaders engage in close collaboration with the government, win-win outcomes will naturally follow—first, because local governments have the capacity to nurture them, and second, because they are indeed worthy of nurturing. After all, towering trees are extremely difficult to transplant elsewhere; only small saplings can be successfully transplanted. The Guizhou entrepreneurs are the sons and daughters of Guangxi—they all long to return home and contribute to its development. I sincerely hope that the leaders of the autonomous region, as well as those at the city level, will adopt an attitude toward Guangxi’s own enterprises that mirrors how they’d treat their own “biological sons.” Let us enjoy at least the same treatment as “foreign sons-in-law”—and even better conditions and more favorable policies, so that we can truly feel the warmth and care of our hometown folks.

Third, we must join forces and develop collaboratively to achieve synergistic effects across industries. When brothers stand united, their strength can cut through even the hardest of metals. Faced with a severe and complex economic environment, businesses need more than ever to pull together, support each other, and leverage their respective strengths. The Guangxi Business Association serves as a platform for cooperation and exchange among Guangxi-based enterprises. By uniting and sharing experiences and lessons learned, we can all improve and make common progress. Based on industry trends, upstream and downstream enterprises can optimize resource allocation, maximize efficiency, and minimize costs, significantly enhancing their ability to withstand external risks and opening up broader avenues for business expansion. The Guangxi Business Association will continue, as always, to provide excellent services and collaborative support to its member companies, guiding Guangxi businesses to rise to challenges, strive vigorously, and proactively respond to the impact of the economic downturn, working hard to quickly recover from the losses caused by the pandemic. Overall, with unprecedented support from the central government, the Guangxi Zhuang Autonomous Region, local governments at all levels, various departments, and banks, we should intensify cooperation between government, banks, and enterprises; seize leading positions in niche markets; embrace new, mature technologies emerging in cutting-edge industries; and seamlessly integrate these innovations with traditional sectors. In doing so, we can make our rightful contribution to the long-term development of Guangxi’s economy. Right now is an extraordinary opportunity—a chance that I’d like to share with you: what it means to “adhere to fundamentals while innovating.” Through sharing my own practical actions and reflections over the past six months, I hope to inspire and enlighten fellow entrepreneurs, and I sincerely wish that you’ll do even better than I have.

Distinguished leaders and guests, at present, all sectors of society are paying close attention to—and brimming with anticipation about—the practical implementation of the new development paradigm characterized by “a dominant domestic circulation as the mainstay, with domestic and international circulations mutually reinforcing each other.” The meeting of the CPC Central Committee’s Political Bureau emphasized “firmly grasping the strategic pivot of expanding domestic demand,” providing crucial guidance for accelerating the formation of this new development paradigm. The Guangxi Business Association will also play a leading and driving role in smoothing both domestic and international dual circulations, enhancing the modernization level of industrial and supply chains, and fostering coordinated development across upstream and downstream industries. Guangxi businesses should fully leverage their deep-rooted strengths in the domestic consumer market, driving consumption upgrades through innovative business models, ensuring stable and high-quality supplies to meet people’s daily needs, and continuously investing to boost Guangxi’s development.

The Party Central Committee, with Comrade Xi Jinping at its core, attaches great importance to and shows deep concern for Guangxi’s development. It has entrusted Guangxi with a new mission of “three major orientations” and new requirements of “five solid foundations.” General Secretary Xi inscribed the words “Build a Magnificent Guangxi and Jointly Realize the Dream of National Rejuvenation” to mark the 60th anniversary of the establishment of the Guangxi Zhuang Autonomous Region, thereby charting the course for Guangxi’s development in the new era. As Guangxi businessmen, we must seize this historic and momentous opportunity, play a pioneering and pivotal role in Guangxi’s economic and cultural development, and contribute our rightful share to the great rejuvenation of the Chinese nation.

Thank you, everyone.