The potential is huge, probably bigger than any other country in the world.

When we are able to use the Internet and the ability to move the Internet to upgrade our traditional industries, we will find that the potential is huge, perhaps greater than any other country in the world. This latter advantage is a chance for Chinese internet practitioners

I went to the United States some time ago, the first day to the United States on the Internet to find a potted plant, want to buy it down the site, I think one weeks will be able to receive this potted plants, the results found in the United States, these are usually two to receive. And this makes Chinese consumers have been very not accustomed to, we are accustomed to 3 or 4 times a day distribution, the afternoon of the next single, evening may receive express, can also be paid on delivery. This is the current situation of e-commerce in China and America. While online retailing accounts for more than 6% per cent in China and the US, last year China's online retail growth was 85%, and the US was 15%, and the difference was clear. The difference is because we use the Internet to quickly make a set of things that are more competitive than offline industries.

Another example of tourism, China's star hotel about eight thousand or nine thousand, the vast majority of hotels have only one shop, not chain. And most star hotels in the United States are chain, their reservations, management are very system, you can early predict when more people, when less people, to their website list may be able to get the most concessions. And China's hotel reservations confirmed that there are only fax, there is no scale effect, and did not use advanced technology, which makes it to where, ctrip, art, etc., can get more than the United States of similar sites greater development potential and development space. Offline things that do not do, rely on the power of the Internet, relying on internet technology, relying on internet people's thinking, rely on the Internet company's governance structure and competitiveness, can do better.

Another example is publishing, in the United States, like Amazon, the first to sell Books Online, and then sell electronic copyright. And in China, when the internet up, like Shanda literature, the author directly on the Internet, readers read directly on the Internet, the basic skip the publication of this link, this model in China is very developed, in a sense we have surpassed the U.S. publishing industry.

It's just what we've seen, what has happened, that has had a big impact on traditional industries, and these are just a very small part of the entire Chinese economy. The offline and traditional industries in the United States have decades and centuries of history, are very developed and mature, already have considerable competitiveness, and China's offline industry, many are 30 years ago the reform and opening-up began to do, and has been at a relatively low level of development. When we can use the Internet, the ability to move the Internet to upgrade those offline industries and traditional industries, we will find that the potential is very large, probably more than any other country in the world. Such a later advantage is the opportunity for the Chinese Internet practitioners, but also those who have a dream in traditional industries and are willing to embrace the internet.

From the perspective of the Internet, we face an almost limitless opportunity. We hope that all of us can make better use of these opportunities to advance the whole of China, in order to better life, for every Chinese to realize their dreams have a positive role.