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World Intellectual Property Organization officially released the "2020 Global Innovation Index Report" pointing out that China ranked top in important indicators such as patents, utility models, trademarks, industrial design applications, and creative product exports. In addition, China has 17 technology clusters among the top 100 global technology clusters, second only to the United States in number, and second in the world. China is now far more than a world factory and has also become an innovation champion, capable of leading the other companies in the United States, Japan or Europe in many fields.In more than ten years, China has undergone a transformation and has become a leader in global innovation. The young generation of Chinese entrepreneurs possess innovative spirit, adventurer spirit and global vision. They are leading a new round of world industry and consumer trends. From "Made in China" to "Researched and Developed and then Made in China", China only took a short ten years. As an important part of the future strategy, the Chinese quality-oriented development model is replacing the past speed-oriented development model, and innovation has become one of the new engines driving the Chinese economic development.First, the laws of economic development drive economic transformation. Since the reform and opening up, the Chinese rapid economic development has attracted worldwide attention. Now, the demographic dividend, resource advantages, environmental endurance, and the Chinese catch-up growth model have been unable to maintain the long-term development of the Chinese economy. The extensive economic development model of one-sided pursuit of GDP is destined to be transformed and upgraded, and China needs a higher-quality economic development model. In the transitional period of comprehensively deepening economic reforms and optimizing the industrial structure, only by constantly innovating can China be invincible.Second, China has a large population, and market demand must be constantly innovated. The scale, speed, and diversity of the Chinese economic and social transformation are rare in history and the world. In the fierce market competition, products and technologies are updated very quickly. For enterprises, time does not wait for the attention of anyone, and they must seize the day to avoid being overtaken.Third, the government strongly supports innovation. In recent years, the Chinese government reports have frequently mentioned the word innovation, emphasizing mass entrepreneurship and innovation and increasing public products and services. Under the slogan of "Popular Entrepreneurship and Innovation", innovation has become common practice in the whole society. In terms of specific policies, the government has promulgated inclusive policies such as super deductions for enterprise R&D expenses and support for high-tech enterprises to encourage enterprises to increase investment in innovation, support enterprises to participate in the implementation of major scientific and technological projects, increase the construction of scientific research platforms, and promote enterprise to lead the collaborative innovation among industry, university and research and development center.Fourth, the continuous improvement of education levels provides inexhaustible impetus for the Chinese innovation. Education is the cornerstone of national development. With the transformation of educational concepts and the reform of the educational system, the Chinese education has made remarkable achievements, especially the rapid development of higher education. In 2019, the total number of students in higher education nationwide was 40.02 million, and the gross enrollment rate of higher education exceeded the 50% mark, reaching 51.6%. Colleges and universities have cultivated a large number of outstanding talents for China, improved the overall quality of the Chinese, and become the mainstay in the process of the Chinese economic development and transformation.From a technology follower to a technology provider, China has not only effectively improved the living standards of the Chinese and promoted economic internal circulation, but also broke the technology monopoly of developed countries, provided developing countries with more technology choices, and effectively balanced the international economy development pattern. In the global innovation business, the Chinese voice has become increasingly prominent and has become a force that cannot be ignored.Since 2013, China has continued to deepen economic and trade cooperation with countries related to the Belt and Road Initiative, enhance the level of trade and investment liberalization and facilitation, continue to promote higher levels of opening up, and give birth to a new pattern of the world economy.In the first half of 2020, the economic and trade cooperation between China and countries related to the Belt and Road has still achieved remarkable results. More and more countries and international organizations have joined the collective consultation, building and sharing of the community. As of May 2020, the Chinese government has signed 200 cooperation documents for the joint construction of the Belt and Road with 138 countries and 30 international organizations.From 2013 to 2018, the total import and export volume of goods trade between China and countries along the Belt and Road increased from $1.04 trillion to $1.34 trillion USD. In 2019, China's total trade in goods with 138 countries that signed the Belt and Road cooperation document reached $1.90 trillion USD, accounting for 41.5% of China's total trade in goods, of which exports were $983.76 billion USD and imports were $917.39 billion USD. In 2019, China and the countries along the Belt and Road totaled $117.88 billion USD in services imports and exports, of which exports were $38.06 billion USD and imports were $79.82 billion USD. China has gained more international customers. China is currently the only major economy showing a steady recovery during the Covid-19 pandemic. China is not only a huge market by itself, but also a dynamic global economy. China will continue to be the engine of global economic growth. Driven by strong domestic demand, the Chinese "V-shaped" economic recovery has been maintained for 4 consecutive months in 2020.Statistics data show that the Chinese private enterprises in the first 8 months export 6.07 trillion yuan, an increase of 8.3%. Private enterprises are not only in a vital position in the development of the Chinese foreign trade, but also play a pivotal role in the global industrial supply chain. The resilience of the Chinese economic development is also reflected in the robust growth of exports of high-tech and high value-added products. Statistics data show that in the first eight months China exported 6.47 trillion yuan in mechanical and electrical products, up 2.1%.Yes, the Chinese economy can survive and grow even without U.S. consumers.One typical example can be that Huawei continues growing without the US and its Five Eye markets.Ren-Zhengfeis-Media-Interview-in-TaiyuanRen Zhengfei's Media Interview After the Opening Ceremony of the Intelligent Mining Innovation Lab in Taiyuan February 9, 2021 Taiyuan, Shanxi Ren: Before I take your questions, I would like to make some opening remarks. Our previous generations of communications networks aimed to connect numerous homes and several billion people. But in the 5G era, connecting businesses is the main goal. There are many industries that we are not too familiar with, like airports, ports, coal mining, iron and steel production, automotive manufacturing, and aircraft manufacturing. That's why we built joint labs to learn more about the needs of these industries. The Intelligent Mining Innovation Lab in Shanxi will provide better services for mines with 5G. The lab is staffed by 220 experts, and 53 of those are from Huawei. Most of these Huawei experts specialize in electronics technology. There are also more than 150 coal mining experts from Shanxi who have an extensive knowledge of the industry. We have set up this joint lab and adopted a co-leadership mechanism, where leaders from the coal industry have a greater say on mining aspects, while Huawei leaders have a greater say on the electronics side of things. 01 Zhao Donghui, Xinhua News Agency: You were at the opening ceremony of the lab earlier this morning. Is Huawei trying to expand its core business to achieve diversification, and can it create unique advantages in every industry it operates in? What do you think would be an ideal working environment for coal mine workers in the future? Ren: First and foremost, we will not expand our core business. The basic platform we provide for coal mining is the same as the ones we provide for iron and steel plants, ports, and airports. The 5G applications for different industries are different, but most of the technologies are the same. So our main goal is to increase the adoption of electronic, software, and computing systems in different industries. Powered by insights into how coal mines work, our electronic and software systems will be able to provide great applications and services for mines. And if we can provide excellent services for coal mines, just like Microsoft is providing information services to support aircraft engines, we will have created an outstanding service module. Microsoft is not going to start making aircraft engines, and we are not going to start mining. Our role is to help the coal industry reduce staffing and increase unmanned operations, to make their work safer and more efficient. We will do this by helping reduce staffing in fully mechanized and intelligent mining scenarios by 60% and the number of workers going down to mining pits each shift by 10% to 20%. The coal industry welcomes our electronic systems. By supporting this industry, we can grow our business and support more efficient and safer production in mines. We can also enable coal mine workers to "wear suits and ties" at work, and propel the mining machinery industry in Shanxi forhttps://www.huawei.com/en/facts/voices-of-huawei/ren-zhengfeis-media-interview-in-taiyuanThe domestic market in China has been growing for years.Huawei releases its 2020 Annual Report[Shenzhen, China, March 31, 2021] Huawei released its 2020 Annual Report today. Growth slowed, but the company's business performance was largely in line with forecast. Huawei's sales revenue in 2020 rounded off at CNY891.4 billion, up 3.8% year-on-year, and its net profit reached CNY64.6 billion, up 3.2% year-on-year. Despite operational difficulties brought about by US sanctions in 2019 and 2020, Huawei has continued to invite KPMG to independently and objectively audit our financial statements. The document produced by KPMG is a standard unmodified audit opinion. No matter the circumstances, we will continue to embrace transparency by disclosing operational data to governments, customers, suppliers, employees, and partners. In 2020, Huawei's carrier business continued to ensure the stable operations of more than 1,500 networks across more than 170 countries and regions, which helped support telework, online learning, and online shopping throughout COVID-19 lockdowns. Working together with carriers around the world, the company helped provide a superior connected experience and moved forward with more than 3,000 5G innovation projects in over 20 industries like coal mining, steel production, ports, and manufacturing. Over the past year, Huawei's enterprise business stepped up efforts to develop innovative scenario-based solutions for different industries and create a digital ecosystem that thrives on joint creation and shared success. During the pandemic, Huawei provided technical expertise and solutions that were vital in the fight against the virus. One example is an AI-assisted diagnostic solution based on HUAWEI CLOUD that helped hospitals the world over reduce the burden on their medical infrastructure. Huawei also worked with partners to launch cloud-based online learning platforms for more than 50 million primary and secondary school students. With the rollout of HarmonyOS and the Huawei Mobile Services (HMS) ecosystem, Huawei's consumer business moved forward with its Seamless AI Life strategy ("1 + 8 + N") to provide consumers with an intelligent experience across all devices and scenarios, focusing on smart office, fitness & health, smart home, easy travel, and entertainment. "Over the past year we've held strong in the face of adversity," said Ken Hu, Huawei's Rotating Chairman. "We've kept innovating to create value for our customers, to help fight the pandemic, and to support both economic recovery and social progress around the world. We also took this opportunity to further enhance our operations, leading to a performance that was largely in line with forecast. "We will continue to work closely with our customers and partners to support social progress, economic growth, and sustainable development." All financial statements in the 2020 Annual Report were independently audited by KPMG, an international Big Four accounting firm. To download the 2020 Annual Report, visit https://www.huawei.com/en/annual-report/2020 —Ends— About Huawhttps://www.huawei.com/en/facts/voices-of-huawei/huawei%20releases%20its%202020%20annual%20report

I prepared a reading list for my students in the Singularity University track in Finance, Entrepreneurship and Economics that I think is a solid starting point.The Singularity University Graduate Studies Program brings together a diverse group of the most accomplished experts in academics, business, and government with the top graduate and post graduate students and entrepreneurial leaders from around the globe for an intense 10-week summer experience. The program immerses students in an unparalleled learning environment to focus on solving the planet’s most pressing challenges using exponential & accelerating technologies.The exponential growth of technology has had an equally dramatic effect on every facet of the business world. From the long tail reverberations of virtual goods, through the outsourcing of every aspect of creation and production, to the explosive development of personal brands and the potentially culture-changing introduction of microfinance, accelerating technologies are revolutionizing our global economic system.The Finance, Entrepreneurship & Economics track at Singularity University covers the dramatic changes in business that have already been caused by accelerating technologies, and includes in-depth sessions on future economics, the essential tools of entrepreneurship, and advanced presentation and communications skills. Electives, coordinated with the technical tracks at SU, include topics chosen from among the following: understanding the new workforce and the concept of personal brands, private financing of space travel, the economics of knowledge, “green” financing through carbon cap & trade, virtual market economics, microfinance, the neuroscience of economic behavior, and the concept of money as information.This list was the official pre-reading and reference list for the original Graduate Studies Program FEE track at Singularity University, prepared by Founding FEE Track Chair David S. Rose.Comments and suggestions regarding this list are always welcome!1. The Long Tail: Why the Future of Business is Selling Less of Moreby Chris AndersonOne of the seminal books about business in the 21st century, that has become a critical base for any discussion of the future of retailing (and just about everything else).2. Free: How Today's Smartest Businesses Profit by Giving Something for Nothingby Chris AndersonChris Anderson has a definite knack for identifying critical, disruptive market trends, and then writing about them directly, cogently and with humor. This book was controversial when it came out, but his projections are much more right than they are wrong. This is stuff you NEED to understand to make sense of new business models.3. Wikinomics: How Mass Collaboration Changes Everythingby Don Tapscott & Anthony D. WilliamsOne of the earliest books to popularize and put a name to the phenomenon of online collaboration, this seminal work by Don Tapscott has spawned a series of other books and services on the topic.4. Groundswell, Expanded and Revised Edition: Winning in a World Transformed by Social Technologiesby Charlene Li and Josh BernoffThe social-enabled Web 2.0 is morphing so quickly in an age of exponentially developing technologies that virtually everything written about it is out of date before publication. This is a readable and useful introduction to the state of the world as of its publication date, and will help quickly get you up to speed and put many other things in perspective.5. Cognitive Surplus: How Technology Makes Consumers into Collaboratorsby Clay ShirkyCrowdsourcing, networking and online groups are fundamentally re-organizing the social order, and the effects are far-reaching in all spheres, including business. This readable work from influential pundit Clay (Here Comes Everybody) Shirky, synthesizes much of the current thinking on the subject.6. The Wealth of Networks: How Social Production Transforms Markets and Freedomby Yochai BenklerWritten by a Yale law professor and published in 2007, this definitive (for its time...it was written pre-Twitter) tome is a comprehensive assessment of the original Web 2.0 technologies, and the way in which the ‘networked information economy’ relates profit- focused businesses and socially-derived projects in a changing society.7. The Great Stagnation: How America Ate All the Low-Hanging Fruit of Modern History, Got Sick, and Will(Eventually) Feel Betterby Tyler CowenFascinating and thought-provoking reading as we consider the concept of a ‘post-sufficiency’ society with engagement as the new currency and experience as the new wealth.8. The Post-American World: Release 2.0by Fareed ZakariaIt is simply not possible any longer to function effectively in designing, operating or investing in commercial enterprises unless you have a very good grounding in the seismic re-ordering of the world over the past few decades. This is my first choice book on the subject, newly updated for 2012.9. The World Is Flat 3.0: A Brief History of the Twenty-first Centuryby Thomas L. FriedmanA highly readable, and also recommended, introduction to the seismic changes that globalization is having, particularly on the worlds of business and economics. A somewhat shorter and slightly more accessible alternative to Zakaria's "Post American World".10. The 21st Century Economy--A Beginner's Guide (Vintage)by Randy Charles EppingShort and readable, this very basic semi-economics introduction ties together themes from the books on globalization and evolving business models, to bring you up to speed on the concepts and terminology that will be useful in understanding the changes in the world of finance occasioned by such developments as the Long Tail, Web 2.0 and Globalization.11. The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About Itby Michael E. GerberFor anyone considering starting his or her own business, this classic is an absolute must- read before you do anything. It lays out in explicitly stark terms the difference between “small business ownership” and “entrepreneurship”. After you finish this, you should have a pretty good feel for whether you have what it takes to create a high-growth business.12. Lucky Or Smart?: Fifty Pages for the First-Time Entrepreneurby Bo PeabodyOnce you’ve read Gerber and decided that you really are an entrepreneur, next on your list should be Bo Peabody’s marvelous little book about the real world, and how not to confuse luck with smarts. I only wish that most of my CEOs had read this one.13. Three Moves Ahead: What Chess Can Teach You About Businessby Robert RiceThe central thesis in this highly readable book from SU speaker Bob Rice is that in a rapidly changing business environment, ‘cookbook’ answers no longer work. Three Moves Ahead gives business executives and entrepreneurs a framework for developing their overall business strategies in a world that is morphing faster than we can understand it.14. The Innovator's Dilemma: The Revolutionary Book That Will Change the Way You Do Businessby Clayton M. ChristensenWritten by a Harvard Business School professor, this provocative best-seller addresses some of the most crucial strategic issues that technology companies have to face, providing concrete examples of Schumpeter’s theory of ‘creative destruction’. It has spawned a whole series of advisory works on innovation (The Innovator's Solution, the Innovator's DNA, etc.)15. Technology Ventures: From Idea to Enterpriseby Thomas ByersThe textbook on technology entrepreneurship, by one of the FEE Track Advisors (Byers). It integrates entrepreneurship and technology management with current examples of new technologies and an extensive suite of media resources, and details the critical differences between scientific ideas and true business opportunities.16. Reality Check: The Irreverent Guide to Outsmarting, Outmanaging, and Outmarketing Your Competitionby Guy KawasakiA highly informative, readable and entertaining collection of notes on entrepreneurship, business strategy, marketing, high-tech, and start-ups from one of the long-time pundits of Silicon Valley.17. Raising Venture Capital for the Serious Entrepreneurby Dermot BerkeryThis is one of the best books on the equity fundraising process. It is comprehensive, accurate and appropriately balanced between optimism and realism. If you are serious about getting funding for your enterprise, it will provide you with the background to ensure that you come across as an informed entrepreneur and not a clueless wannabe.18. Mastering the VC Game: A Venture Capital Insider Reveals How to Get from Start-up to IPO on Your Termsby Jeffrey BussgangAnother excellent introduction and guided tour to the arcane world of raising venture capital, from a smart and literate VC. It provides excellent insights into the mind of the person on the other side of the table, and is a good source of "VC hacks".19. Presentation Zen: Simple Ideas on Presentation Design and Delivery (2nd Edition) (Voices That Matter)by Garr ReynoldsGarr Reynolds has created THE book that for everyone who is even thinking about presenting. He has written and illustrated with stunning clarity the essence of what I and others have been preaching for years: visual clarity, simplicity, presence, planning and more. If you are even *thinking* about buying a book on presentation skills, this is it.20. Presenting to Win: The Art of Telling Your Story, Updated and Expanded Editionby Jerry WeissmanUnlike Presentation Zen, this book is aimed directly at the CEO developing a fundraising pitch for a VC or angel road show. It is very, very thorough, and is a superb, logical, step-by-step guide to how you should sequence a pitch presentation. Use Jerry for content, and Garr for design.21. The Visual Display of Quantitative Informationby Edward R. TufteThe world is divided into those who have somehow never heard of this book, and everyone else for whom it has achieved cult status. If you ever HAVE done, ARE doing, or WILL be doing any kind of chart, graph, or visual presentation of numbers, you MUST read this book. It is the classic in the field.22. Outliers: The Story of Successby Malcolm GladwellGladwell’s Outliers may be one of the most important books I’ve read in years. In concise, clearly-written prose, he analyzes, and makes brilliantly clear, what stands behind the extraordinary success of people such as Bill Gates, Mozart and the Beatles, who have achieved things well outside the norm of typical accomplishment.23. Parkinson's Lawby C. Northcote ParkinsonOK, so this was written before I was even born, and has nothing whatsoever to do with The Singularity or exponentially accelerating technologies. But it is one of the more seminal business books ever written, and once you read it you will NEVER again look at time management, the British Admiralty, a board meeting or a cocktail party in the same way.

I’m 19, very entrepreneurial, and have a lot of businesses. I’m looking to make 100k next year. Should I go to college?Wow. You’ve had some pretty terrible answers so far, and I disagree with the substance of pretty well all of them.I’ve been an entrepreneur for a long time. I’ve founded, advised and worked with a lot of startups, so I’ve known many entrepreneurs. Some of them have made tens of millions of dollars. Others, not so much.One of the things I have always found to be difficult as an entrepreneur is getting honest “warts and all” feedback. People will “nice” you to death rather than tell you things they think you don’t want to hear. Please don’t be offended, but I am not going to do that here.First things first: you don’t really tell us enough to get a useful answer.Let’s break down what you’ve actually told us.You’re 19. I’m not sure where you live, but that probably means you finished high school 1–2 years ago. What have you been doing since leaving?You say you’re “very entrepreneurial”. What exactly do you mean? By what measure are you “very entrepreneurial”? Who says so, and why?You say you have “a lot of businesses”. I find that very hard to believe. Do you actually mean you have many incorporated entities that offer products or services, employ people and are profitable? Or do you mean you have lots of projects, some of which make money?You’re looking “to make 100k next year”. Okay, that’s clear-ish.And finally “should i go to college”. And we’ll deal with that one at the end of this postLet me give you an example. I inherited an intern a few years ago. He was a year younger than you. He claimed to be entrepreneurially minded and also claimed that he had already built several successful businesses.It became very clear that his idea of entrepreneurship was simply avoiding a 9–5 job where he might be told what to do. He had almost no work ethic, was easily distracted and would always pass the buck when given responsibility. His “successful business” (just one, not many) turned out to be building bargain PCs for friends. His average profit on each PC was less than $30 and he wasn’t accounting for his time, or the cost of fuel to go and pick up the parts (or tools, or anything else beyond the parts in the PC). Admittedly, he usually persuaded someone else to drive him to the store, so he wasn’t paying for gas, but still… He also did no marketing — his whole strategy was to build a PC when someone asked him.I tried gently to point out that this was neither a profitable or scalable business. It didn’t go well.Now I’m not saying you are that guy, but what exactly are the “lot of businesses” that you have built? Are any of them profitable? Are they sustainable? Do any of them have employees or contractors other than you? Do any of them actually pay you a decent wage?You’ve said nothing about what the businesses are, what skills you have and what teams you’ve built. No one can do everything in a scalable business. There are always roles that would be better accomplished by someone other than you, even if the only criteria is that you can make better use of your time doing something else.If all of your businesses are just you, it’s unlikely any of them are truly scalable.Also, who are your mentors? Do you have people you talk to regularly about business problems? I’ve been doing this for decades and I still appreciate the opportunity to discuss some aspects of business with people I trust. Perspectives other than your own are often invaluable.Do your businesses need to raise money? Given your age, it will be extremely difficult to raise money from traditional investors. Is that a problem?Let’s get back to what you’ve told us.I’ve known some exceptional entrepreneurs. I can’t think of any that have more than 2 or 3 businesses that they meaningfully contribute to. They may put money in other businesses, or have advisory roles, but in terms of doing actual work not one of them has “a lot of businesses”. It’s simply not possible to meaningfully build and grow “lots” of businesses at the same time.You also say you want to “make 100k next year”. Do you mean pay yourself $100k, make $100k in profit, or make $100k in revenue? All three are quite different goals.Also, while $100k may seem like a lot of money right now, in the big scheme of things, it isn’t. Try buying a house and raising a family on $100k. It’s hardly a luxury life. Maybe you have no intention of doing either right now. That’s fine, but things change. Making $100k when you’re 19 is great. Making the equivalent of $50k when you’re 50 (thanks to inflation and stagnation in your ability to grow your business) is not so great.There are many aspects of building a successful business and it’s simply not clear how much you’ve really thought about any of them. A successful business isn’t simply a collection of side-hustles. You need a plan.And that brings me to the last part of your question: should you go to college?Very few college degrees prepare you to do a specific job. In most cases, the purpose of going to college is to broaden your knowledge, socialize, get out of your comfort zone and evolve as a person.I think the idea that you go to college to learn “a skillset you’ll use when working a 9–5 job for someone else.” is ridiculous. It’s blatantly not true for the vast majority of majors. Does a degree in English literature, or Chemistry, or Economics, or Physics give you a skillset for a particular job? Absolutely not.My undergrad was science and math based. It no more trained me for a specific job than eating at McDonalds trained me to be a chef. What it did do was give me a set of tools for problem solving that I use to this day, decades after I graduated.And why “waste money on an education from people who don't have a clue what it means to be entrepreneurial”? There are many elements of entrepreneurship that you can learn in college, and even some college programs that are quite effective at teaching entrepreneurship. You can learn the basics of accounting, economics, supply chain, psychology and a million other useful topics at pretty much any college anywhere. Not to mention that you don’t need to go to college for entrepreneurship. Study something else and broaden your mind.And lastly, if you are so entrepreneurial and capable of running multiple businesses, why does it have to be an either/or choice? Most college degrees aren’t that much work, especially in comparison to building and running multiple businesses. You could definitely run at least one business while in college. In my opinion, the question of whether or not to go to college is wholly separate to your entrepreneurial drive.Why would you go to college? What would you want to learn? What will it cost? Where would you go? These are all valid questions regardless of whether or not you are an entrepreneur.If you can ask those questions and meaningfully conclude that you’ll get nothing out of college, don’t go. But don’t write it off chasing what seems like a lot of money and a pipe dream.