Liu Yonghao, chairman of New Hope Group

For transformation in traditional industries, enterprises first must carry out organizational reengineering, and build the enterprise with new thinking, ideas, and culture. Organizational restructuring, performance management, as well as assessment and incentive mechanisms and others become the core of organizational reengineering. Second, they should use digital transformation to reshape their industry. Last, people in traditional industries should have full confidence to embrace changes, be active in transformation and upgrading, while staying committed to their own industry.