“2016 SINA Golden Unicorn Forum” was held in Beijing on November 23. CSC Founder and Chairman Wang Guangyu gave a speech as below. 1. Supply side reforms should focus on improving weaknesses, and increase original technology breakthroughs 　 In the past, companies are usually concerned with the demand side changes (products, market, sales). Now many entrepreneurs have come to think about the supply side problems and structural problems. Overall, supply side reforms are great for competitive enterprises, or those with core development potential. In the past year, more Chinese companies in manufacturing, technology, and innovation have done well. Huawei was able to turn its 5G short code technology into international standard, meaning our companies have started to realize the supply side problems and invest into long term R&D and innovation. This is a fantastic trend. The next phase of Chinese economic development is the further release of technological factors. There is much more to be done on technological innovation and development, especially on original technological breakthroughs. We have to focus particularly on scientific technology in order to compensate for our weaknesses. 2. Real economy needs support from finance The seven strategic emerging sectors laid out by the State include new energy, new energy auto, new generation of IT, energy saving and environmental protection, biopharmaceutics etc.; whether they will become the new drivers of economic growth remain to be seen. The biggest problem with the real economy is the lack of cheap capital, which is also a supply side and structural issue. Bank debt and credit have always made up the bulk of financing, while direct financing remains insignificant. A refined system that provides high returns to both entrepreneurs and investors, and lowers transaction costs for matching them is the key to more venture capital and angel financing for innovative enterprises. As for the government’s role, Premier Li Keqiang said that “empowerment, fair regulations, efficient services” are the main points of supply side reform. Let the market take the reins. 3. Four suggestions for enterprises to facilitate the transition from old to new growth drivers First, China should actively encourage entrepreneurship, encourage enterprise to grow and go global. In an economic downturn, more entrepreneurs and leaders should step up and lead. Second, every entrepreneur should focus on innovation and technology, and companies must put in more efforts in core technology, product design, process, branding, and marketing. Third, entrepreneurs must learn to build good relationship with stakeholders, achieve win-win with employees and shareholders. Fourth, entrepreneurs need to learn to build and maintain good government relations to support enterprise growth. 　　 If all four of the above are achieved, there will be many more great or even world-class companies in China.