Zhang Yong talks about Ali’s innovation strategy: work for today, invest for tomorrow, incubate for the future

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Sina Technology News on the afternoon of September 30, Zhang Yong, chairman and CEO of Alibaba group, said at the Alibaba 2020 global investors conference that innovation is the most important driving force for Alibaba’s continuous development over the past 20 years. He pointed out that among the uncertainties brought about by the epidemic situation, digitization is the most certain historical opportunity, which will have a great impact on the social process. “The ability to continue to innovate is our treasure trove to seize this critical historical opportunity of digitization.”
During the investor conference, Alibaba disclosed the latest progress of various businesses. As of the end of June 2020, the total number of annual Chinese users of Alibaba group and ant group reached 1.07 billion, and consumers who used five or more Alibaba services logged into the platform for 27 days a month. Alibaba also expects that in the 2021 fiscal year, Alibaba cloud is expected to achieve a profit, and the cash flow from operating activities of rookies will turn positive.
Zhang Yong mentioned that Alibaba usually takes 8 to 10 years to incubate new business and make user value deeper and deeper. “Ali has a saying called” caterpillar development “, which means that we always work for today, invest for tomorrow, and incubate for the day after tomorrow.”
Zhang Yong pointed out that the bold imagination and down-to-earth spirit are indispensable in Ali’s innovation; we should not only boldly imagine the future, but also firmly move forward based on the strategic direction of building digital business infrastructure; the company’s operation and development should also maintain high-quality operation. “We firmly believe that in the process of innovation, the most important thing is to create customer value.” In a competitive market, Alibaba doesn’t get innovation through investment and scale, Zhang said. “We are willing to invest in order to create customer value. At the same time, we also put forward higher requirements for our own business efficiency and the satisfaction of users’ value, so as to realize the perfect unity of speed and quality in the process of rapid development.” (He Chang)