宋志平：建设市场新蓝海

Core Insights - The article discusses the challenges faced by Chinese enterprises in a highly competitive environment characterized by "involution," where companies engage in excessive competition leading to diminished profits and innovation [1][3][4] - It emphasizes the need for businesses to focus on micro-management and understanding the essence of operations to thrive in a new economic normal [1][4] Group 1: Involution and Competition - "Involution" is a significant issue across various industries in China, driven by factors such as globalization setbacks, technological shifts, and deep structural adjustments in the domestic economy [3][4] - The article highlights that many companies are trapped in homogeneous competition, leading to price wars that erode profit margins and stifle innovation [3][4] Group 2: Case Studies and Strategies - The case of Shandong Luhua Group is presented as a model for breaking through involution by focusing on product differentiation rather than price competition, achieving nearly 20 billion yuan in revenue and 2.7 billion yuan in profit in 2023 [6][7] - Luhua's strategy includes maintaining high product quality and respecting upstream suppliers, which fosters a sustainable industry ecosystem [7] Group 3: Policy and Industry Transformation - The Chinese electrolytic aluminum industry serves as an example of successful transformation through government intervention, where a production capacity ceiling was set at 45 million tons, leading to increased profits and a healthier market [9][10] - The article notes that from 2017 to 2024, the industry's total profit is expected to approach 100 billion yuan, demonstrating the effectiveness of macroeconomic regulation [10] Group 4: Mergers and Industry Consolidation - Historical examples from Japan's cement industry illustrate how government-led consolidation can effectively address overcapacity, resulting in a stable market with three major players maintaining reasonable pricing [12][13] - The article discusses how the Chinese cement industry underwent a similar consolidation under the leadership of Song Zhiping, leading to significant profit increases from 20-30 billion yuan to over 150 billion yuan between 2018 and 2021 [13] Group 5: Future Economic Strategies - Song Zhiping proposes five rules for constructing a new economic blue ocean in China, emphasizing the importance of industry self-regulation, consolidation, capacity reduction, pricing strategies, and innovation [15][16][17][18][19] - The article highlights the shift from "engineer dividends" to "scientist dividends," indicating a new era of innovation driven by returning talent and enhanced domestic research capabilities [15] Group 6: Conclusion - The article concludes with the notion that effective management and a focus on value creation are essential for long-term sustainability in the face of increasing global uncertainties [23]