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Over many years, China has gained acclaim as the world’s manufacturing powerhouse. But today, innovation is flourishing in the world’s most populous nation, which is rapidly becoming a trendsetter with the potential to disrupt business models globally.
多年來，中國一直被譽為世界制造業(yè)大國。而今，創(chuàng)新正在這個世界人口第一大國遍地開花，中國正迅速成為潮流創(chuàng)造者，或將有潛力*全球商業(yè)模式。
On a recent research trip to China, we were struck by the huge enthusiasm for locally developed smartphones and the entrepreneurial spirit sweeping the country. Indeed, the number of patents filed by Chinese residents has surged in recent years, both locally and abroad, to exceed the world’s largest developed economies.
最近到中國調研時，中國人對本土企業(yè)自主研發(fā)的智能手機的巨大熱情以及席卷全國的創(chuàng)業(yè)家精神給我們留下了深刻印象。事實上，近年來，中國居民在國內外申請的專利數(shù)量增長迅猛，已經(jīng)超過了世界主要發(fā)達經(jīng)濟體。
Some companies have received international recognition. For example, Shenzhen-based Estar Technology Group won the prestigious 2015 CES Innovations Award for its takee1 smartphone, which allows users to touch and interact with its holographic screen. Meanwhile Chipscreen, recently received Chinese FDA approval for Chidamide, a novel treatment for lymphoma. It was the first domestically discovered and developed innovative drug to receive regulatory approval.
有一些中國企業(yè)已經(jīng)獲得了國際認可。例如，深圳市億思達科技集團(Estar Technology Group)研發(fā)的鈦客(takee1)智能手機獲得了2015年美國消費者電子展(CES)創(chuàng)新獎。該款手機可以讓用戶觸摸并與全息屏幕互動。微芯生物科技有限公司(Chipscreen)研發(fā)的治療淋巴瘤新藥西達本胺(Chidamide)最近獲得了中國國家食品藥品監(jiān)督管理總局(CFDA)的批準。它是首例獲得中國監(jiān)管部門批準的本土企業(yè)研發(fā)的創(chuàng)新藥物。
Smartphones showcase a sharper edge
智能手機展現(xiàn)更大優(yōu)勢
Corporate innovation reflects the energy of the people. For example, we met Mr. Wang, a junior human resources administrator, in his modest room in Wuhan, the capital city of Hubei province in central China. During our conversation, Mr. Wang was transfixed by his new smartphone—a Xiaomi bought for Rmb700 (US$113) —and was intent on telling us how much better it was than our iPhones. We were impressed by its features and functionality.
企業(yè)創(chuàng)新反映了中國人的巨大能量。例如，我們在華中湖北省省會武漢見到了擔任初級人力資源經(jīng)理的王先生（音譯）。在他布置簡單的房間里聊天時，王先生對自己花700元人民幣（合113美元）新買的小米(Xiaomi)智能手機很著迷，他熱切地告訴我們小米比iphone好多了。小米手機的特性和功能都給我們留下了深刻印象。
Others we spoke to also wanted to share the excitement they felt in owning a piece of Chinese-made cutting-edge technology. This type of bottom-up passion can be especially powerful in a vast country like China, where local companies, seeking to commercialise a product, benefit from domestic demand and can build up Chinese distribution to test the waters before going global.
其他與我們交流的中國人也樂于分享自己擁有一件中國制造的尖端技術產品時的興奮心情。在中國這樣一個大國，這種自下而上的激情對本土企業(yè)的影響是特別強大的。尋求產品商業(yè)化的中國企業(yè)受益于旺盛的國內需求，而且可以在國內建立分銷渠道，在走向世界之前進行試水。
Investors are often slow to recognize a country making the leap from manufacturing to inventing. In Japan, for example, TV manufacturing peaked during the 1980s, when many in the West still saw “Made in Japan” as a sign of low quality. It wasn’t until the 1990s — when its TV-makers relocated production to eastern Europe and Mexico — that the country became recognised as a global innovator in the field. Similarly, we believe that it’s only a matter of time before a “Made in China” label—known in the West as a symbol of cheapness — will come to represent novelty and even chic.
一個國家從制造階段向創(chuàng)造階段跨越時，投資者往往不能及時看出。例如，日本的電視機制造產業(yè)在上世紀80年代達到巔峰，而當時許多西方人仍把“日本制造”看作質量低劣的標志。直至上世紀90年代日本電視機制造商將生產轉移至東歐和墨西哥時，日本才被公認為該領域創(chuàng)新的全球。同樣，我們相信，“中國制造”的標簽（西方普遍認為是廉價的象征）成為新穎乃至時髦的代名詞只是時間問題。
New trends in retail connectivity
零售互聯(lián)的新趨勢
Trendsetting is already underway in the retail space. Urban, young Chinese consumers told us that they have a penchant for “showrooming.” In other words, they try on clothing in stores and then buy the item online for a better price, including inexpensive next-day delivery. This is facilitated by apps like TMall, part of China’s e-commerce giant Alibaba, which also owns online payment services Alipay. What’s more, clothing companies such as Fast Retailing actually endorse such behavior as it helps to track customer preferences and improve store and inventory management.
創(chuàng)新的風氣已在零售業(yè)領域興起。在中國城市中，年輕的消費者告訴我們，他們偏愛一種名為“展廳現(xiàn)象”(showrooming)的消費模式。換句話說，他們在實體商店試穿衣服，然后到網(wǎng)上購買更便宜的同款商品，還包括便宜的次日到達配送服務。天貓(TMall)等網(wǎng)上商城的應用讓網(wǎng)購更加便捷。天貓隸屬于中國電子商務巨頭阿里巴巴(Alibaba)，后者還擁有在線支付服務——支付寶。更重要的是，包括迅銷(Fast Retailing)在內的服裝企業(yè)實際上也在支持這種行為，因為它有助于追蹤客戶偏好，并改善倉儲和庫存管理。
Why is this happening in China? It’s because of the seamless connectivity between communications technology, payment systems and order fulfilment and logistics. The Alipay system is so smoothly integrated that the transaction can be completed in a couple of clicks — completely bypassing the major credit card companies. And delivery is often done in less than a day at very low cost.
為何這種現(xiàn)象會發(fā)生在中國？主要是因為中國在通訊技術、支付系統(tǒng)、訂單交付以及物流系統(tǒng)之間實現(xiàn)了無縫銜接。支付寶系統(tǒng)被完美地嵌入其中，完成交易只需點擊幾下即可——完全繞過各大信用卡商家。而且，商品通?？梢栽?4小時內送達，價格也很低廉。
China is well ahead of the rest of the world in this area. It has overtaken the US in terms of e-commerce trade. And it is reshaping the retail model in favor of businesses that are skilled at managing brands, merchandising and inventories, while those that don’t — like department stores — risk obsolescence. Once other countries catch up on the integrated technological front we would expect the “fast retailing trend” to spread to the young generation around the world.
中國在這一領域遠遠超過世界其他國家。中國在電商交易方面已經(jīng)超越美國。中國正在重塑零售模式，新模式將有利于那些擅長管理品牌、營銷和庫存的企業(yè)，而其他企業(yè)（如百貨公司）將面臨被淘汰的風險。一旦其他國家在集成技術方面趕上，我們可以期待“迅銷趨勢”將擴展到世界各地的年輕一代中間。
China’s evolution as a hotbed of innovation is creating a pool of world-class management talent, expertise and experience in technology and e-commerce industries that will help it become a global leader in these fields. Ultimately, this might be the most profound change of all: instead of just charting its own course, China may soon be setting trends that the West will be compelled to follow. It may be time for investors searching for the next big thing to start looking east.
中國發(fā)展為“創(chuàng)新溫床”將造就技術和電商行業(yè)的大批管理人才，同時積累豐富的專業(yè)知識和經(jīng)驗，這將有助于中國成為這些領域的全球。最終，所有變化中最深刻的或許是：除了繪制自己的路線，中國可能很快會成為趨勢的開創(chuàng)者，而西方國家將不得不跟隨中國的腳步。尋找下一個巨大機遇的投資者現(xiàn)在也許應該把目光轉向東方了。
Over many years, China has gained acclaim as the world’s manufacturing powerhouse. But today, innovation is flourishing in the world’s most populous nation, which is rapidly becoming a trendsetter with the potential to disrupt business models globally.
多年來，中國一直被譽為世界制造業(yè)大國。而今，創(chuàng)新正在這個世界人口第一大國遍地開花，中國正迅速成為潮流創(chuàng)造者，或將有潛力*全球商業(yè)模式。
On a recent research trip to China, we were struck by the huge enthusiasm for locally developed smartphones and the entrepreneurial spirit sweeping the country. Indeed, the number of patents filed by Chinese residents has surged in recent years, both locally and abroad, to exceed the world’s largest developed economies.
最近到中國調研時，中國人對本土企業(yè)自主研發(fā)的智能手機的巨大熱情以及席卷全國的創(chuàng)業(yè)家精神給我們留下了深刻印象。事實上，近年來，中國居民在國內外申請的專利數(shù)量增長迅猛，已經(jīng)超過了世界主要發(fā)達經(jīng)濟體。
Some companies have received international recognition. For example, Shenzhen-based Estar Technology Group won the prestigious 2015 CES Innovations Award for its takee1 smartphone, which allows users to touch and interact with its holographic screen. Meanwhile Chipscreen, recently received Chinese FDA approval for Chidamide, a novel treatment for lymphoma. It was the first domestically discovered and developed innovative drug to receive regulatory approval.
有一些中國企業(yè)已經(jīng)獲得了國際認可。例如，深圳市億思達科技集團(Estar Technology Group)研發(fā)的鈦客(takee1)智能手機獲得了2015年美國消費者電子展(CES)創(chuàng)新獎。該款手機可以讓用戶觸摸并與全息屏幕互動。微芯生物科技有限公司(Chipscreen)研發(fā)的治療淋巴瘤新藥西達本胺(Chidamide)最近獲得了中國國家食品藥品監(jiān)督管理總局(CFDA)的批準。它是首例獲得中國監(jiān)管部門批準的本土企業(yè)研發(fā)的創(chuàng)新藥物。
Smartphones showcase a sharper edge
智能手機展現(xiàn)更大優(yōu)勢
Corporate innovation reflects the energy of the people. For example, we met Mr. Wang, a junior human resources administrator, in his modest room in Wuhan, the capital city of Hubei province in central China. During our conversation, Mr. Wang was transfixed by his new smartphone—a Xiaomi bought for Rmb700 (US$113) —and was intent on telling us how much better it was than our iPhones. We were impressed by its features and functionality.
企業(yè)創(chuàng)新反映了中國人的巨大能量。例如，我們在華中湖北省省會武漢見到了擔任初級人力資源經(jīng)理的王先生（音譯）。在他布置簡單的房間里聊天時，王先生對自己花700元人民幣（合113美元）新買的小米(Xiaomi)智能手機很著迷，他熱切地告訴我們小米比iphone好多了。小米手機的特性和功能都給我們留下了深刻印象。
Others we spoke to also wanted to share the excitement they felt in owning a piece of Chinese-made cutting-edge technology. This type of bottom-up passion can be especially powerful in a vast country like China, where local companies, seeking to commercialise a product, benefit from domestic demand and can build up Chinese distribution to test the waters before going global.
其他與我們交流的中國人也樂于分享自己擁有一件中國制造的尖端技術產品時的興奮心情。在中國這樣一個大國，這種自下而上的激情對本土企業(yè)的影響是特別強大的。尋求產品商業(yè)化的中國企業(yè)受益于旺盛的國內需求，而且可以在國內建立分銷渠道，在走向世界之前進行試水。
Investors are often slow to recognize a country making the leap from manufacturing to inventing. In Japan, for example, TV manufacturing peaked during the 1980s, when many in the West still saw “Made in Japan” as a sign of low quality. It wasn’t until the 1990s — when its TV-makers relocated production to eastern Europe and Mexico — that the country became recognised as a global innovator in the field. Similarly, we believe that it’s only a matter of time before a “Made in China” label—known in the West as a symbol of cheapness — will come to represent novelty and even chic.
一個國家從制造階段向創(chuàng)造階段跨越時，投資者往往不能及時看出。例如，日本的電視機制造產業(yè)在上世紀80年代達到巔峰，而當時許多西方人仍把“日本制造”看作質量低劣的標志。直至上世紀90年代日本電視機制造商將生產轉移至東歐和墨西哥時，日本才被公認為該領域創(chuàng)新的全球。同樣，我們相信，“中國制造”的標簽（西方普遍認為是廉價的象征）成為新穎乃至時髦的代名詞只是時間問題。
New trends in retail connectivity
零售互聯(lián)的新趨勢
Trendsetting is already underway in the retail space. Urban, young Chinese consumers told us that they have a penchant for “showrooming.” In other words, they try on clothing in stores and then buy the item online for a better price, including inexpensive next-day delivery. This is facilitated by apps like TMall, part of China’s e-commerce giant Alibaba, which also owns online payment services Alipay. What’s more, clothing companies such as Fast Retailing actually endorse such behavior as it helps to track customer preferences and improve store and inventory management.
創(chuàng)新的風氣已在零售業(yè)領域興起。在中國城市中，年輕的消費者告訴我們，他們偏愛一種名為“展廳現(xiàn)象”(showrooming)的消費模式。換句話說，他們在實體商店試穿衣服，然后到網(wǎng)上購買更便宜的同款商品，還包括便宜的次日到達配送服務。天貓(TMall)等網(wǎng)上商城的應用讓網(wǎng)購更加便捷。天貓隸屬于中國電子商務巨頭阿里巴巴(Alibaba)，后者還擁有在線支付服務——支付寶。更重要的是，包括迅銷(Fast Retailing)在內的服裝企業(yè)實際上也在支持這種行為，因為它有助于追蹤客戶偏好，并改善倉儲和庫存管理。
Why is this happening in China? It’s because of the seamless connectivity between communications technology, payment systems and order fulfilment and logistics. The Alipay system is so smoothly integrated that the transaction can be completed in a couple of clicks — completely bypassing the major credit card companies. And delivery is often done in less than a day at very low cost.
為何這種現(xiàn)象會發(fā)生在中國？主要是因為中國在通訊技術、支付系統(tǒng)、訂單交付以及物流系統(tǒng)之間實現(xiàn)了無縫銜接。支付寶系統(tǒng)被完美地嵌入其中，完成交易只需點擊幾下即可——完全繞過各大信用卡商家。而且，商品通?？梢栽?4小時內送達，價格也很低廉。
China is well ahead of the rest of the world in this area. It has overtaken the US in terms of e-commerce trade. And it is reshaping the retail model in favor of businesses that are skilled at managing brands, merchandising and inventories, while those that don’t — like department stores — risk obsolescence. Once other countries catch up on the integrated technological front we would expect the “fast retailing trend” to spread to the young generation around the world.
中國在這一領域遠遠超過世界其他國家。中國在電商交易方面已經(jīng)超越美國。中國正在重塑零售模式，新模式將有利于那些擅長管理品牌、營銷和庫存的企業(yè)，而其他企業(yè)（如百貨公司）將面臨被淘汰的風險。一旦其他國家在集成技術方面趕上，我們可以期待“迅銷趨勢”將擴展到世界各地的年輕一代中間。
China’s evolution as a hotbed of innovation is creating a pool of world-class management talent, expertise and experience in technology and e-commerce industries that will help it become a global leader in these fields. Ultimately, this might be the most profound change of all: instead of just charting its own course, China may soon be setting trends that the West will be compelled to follow. It may be time for investors searching for the next big thing to start looking east.
中國發(fā)展為“創(chuàng)新溫床”將造就技術和電商行業(yè)的大批管理人才，同時積累豐富的專業(yè)知識和經(jīng)驗，這將有助于中國成為這些領域的全球。最終，所有變化中最深刻的或許是：除了繪制自己的路線，中國可能很快會成為趨勢的開創(chuàng)者，而西方國家將不得不跟隨中國的腳步。尋找下一個巨大機遇的投資者現(xiàn)在也許應該把目光轉向東方了。