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Yidianzixun CEO: Capital plays important role in internet industry

2017-December-7       Source: Chinadaily.com.cn

Capital force, such as venture capital and private equity funds, has played an important role in the internet industry's development both in China and the United States, said Li Ya, CEO of mobile news aggregator Yidianzixun.

Li Ya, CEO of mobile news aggregator Yidianzixun. [Photo by Wang Chengmeng/chinadaily.com.cn]

Capital force, such as venture capital and private equity funds, has played an important role in the internet industry's development both in China and the United States, said Li Ya, CEO of mobile news aggregator Yidianzixun.

"China's public market definitely wants these innovative companies to be listed domestically rather than going overseas for IPOs."

Given this, China needs to accelerate the pace of opening up its domestic public trading market, which will further encourage innovations and help to introduce fair mechanisms for new companies to grow and compete in China, he told China Daily Website on Sunday in an interview on the sideline of the 4th World Internet Conference.

The conference, which began on Sunday and ends on Tuesday, is underway in East China's water town of Wuzhen, Zhejiang province.

In Li's view, internet is penetrating every dimension, every aspect of people's lives, and this phenomenon explained why Chinese government encourages the so-called the "Internet Plus" and internet of things.

Meanwhile, China also decided to speed up AI development. In July, the State Council, or China's cabinet, articulated the country's AI development agenda, setting a goal of becoming the major artificial intelligence innovation center of the world by 2030.

General Secretary Xi Jinping said in the report delivered at the opening of the 19th CPC National Congress that China will promote further integration of the internet, big data, and artificial intelligence with the real economy.

As for AI development, Li said, "in the next three to five years, people will be sure to feel the impact of the AI in their daily lives. I think one important thing is how we put human value in front of the machine algorithm, so that we can use the technology for good".

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Editor: Jasmine

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