On the afternoon of March 27, the Industrial Reform and Strategic Innovation in the Age of Turbulence academic symposium was held by theTsinghua University School of Economics and Management (Tsinghua SEM) as one in a series of academic activities to celebrate the upcoming 30th anniversary of Tsinghua SEM.

Qian Yingyi, dean of Tsinghua SEM, delivers the opening remarks at the forum.[Photo/China.org.cn]

Qian Yingyi, dean of Tsinghua SEM, delivered the opening remarks. Four professors from the Department of Innovation, Entrepreneurship and Strategy then shared their thoughts on industrial reform, innovation, company management and entrepreneurship.

Tsinghua Tongfang Chair Professor Weijie warned that China faces even more daunting challenges in industrial restructuring than in deepening reform, and he called for a restricted government intervention in the market. He also expressed his worries about a lack of entrepreneurship in China's business circle. "[The lack of] entrepreneurship is a serious problem in China. What motivates China's entrepreneurs to start up their own business is not entrepreneurship, but the blind pursuit of money, which is in turn harmful to China's industrial upgrade," he said.

Professor Jin Zhanming, expert instrategic management, gave a graphic description of the industrial reform in the age of turbulence. In his view, China's industrial reform faces five major challenges: globalization, the Internet, personalization, democratization and the ever-evolving technology innovations. Jin argued that technological innovation should not be underestimated as it can bring about industrial upgrading. In particular, he spoke highly of the 3D printing technology in architecture, manufacturing and medical industries.

Professor Chen Jin shared his thoughts on what is successful innovation. He explained the innovator's multiple dilemmas and argued that integrated innovation will become mainstream. Chen quoted IBM's Sam Palmisano that "if you want to succeed under these circumstances, you must achieve innovation in technology, strategy and business models."

Zhang Wei, associate professor and director of the Tsinghua x-lab, shed some light on China's photovoltaic (PV) industry. He explained the underlying cause of the excess capacity in China's PV industry which was lagging far behind the Western countries in the 1980s. Zhang said 2004 means a turning point for China's PV industry, due to both the huge opportunities and heavy-handed government intervention.

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