Xu Jinghong gives a speech at the New Economy Developed Forum on Dec 7. [Photo provided to zhongguancun.gov.cn]

Booming innovative technology brings new industries and changes the methods of traditional companies, Xu Jinghong, president of Tsinghua Holdings, said at the New Economy Developed Forum on Dec 7.

The conference was a sub-forum of the 2017 Zhongguancun Forum that brought together some of China’s most promising startup companies and emerging technology leaders.

"The world now is filled with words like new economy, new technology, new modules and new industry," said Xu. “‘New’ technology should be the last phrase we forget."

The progress of science is faster than that of any period in history, Xu said. "The internet, gene science, astronomics – all these are changing old industrial patterns."

New industries and new ways of doing business bring opportunities for companies to expand and develop. The core of a new industry is the power of technology, which means "innovation is life to enterprises," he explained.

Innovation has brought changes to life, enterprises and industry, but there are principles that should never change to allow entrepreneurs to remember why they started and to help companies continue to grow.

Xu gave four tips to entrepreneurs and investors on the innovation pathway: keep creating values that benefit people, offer good products and service, be honest to all and never forget why you started in business.