At the 2026 Yabuli Forum Summer Annual Meeting, held from September 4-6 in Chengdu, Sichuan, under the theme "Enterprise Innovation and Navigating Cycles," Yao Jinbo, Co-Chairman of the Forum's rotating presidency and Chairman and CEO of 58.com Group, delivered key insights into the current economic landscape.
Yao emphasized that entrepreneurs are the core drivers of economic innovation. Their willingness to invest boldly, innovate courageously, and maintain long-term commitment is crucial for stabilizing industries, employment, and livelihoods. Only through continuous innovation and iteration can companies generate high-quality job opportunities, which in turn boost resident incomes, activate the trillion-yuan domestic consumer market, and create a virtuous cycle of innovation driving industry, industry driving employment, and employment fueling consumption.
Addressing the challenges of market volatility, Yao called for a deep respect for economic cycles and unwavering perseverance, urging businesses to rely on technological innovation to navigate industry fluctuations. He acknowledged that cyclical ups and downs are an objective reality, and uncertainty has become a defining feature of the current era. "However, our greatest confidence stems from the world's most complete industrial and supply chain, a super-large domestic market of 1.4 billion people, and an ever-improving environment for private enterprise development. There is no shortcut across cycles; only by honing management skills and adhering to technological innovation, building strength in downturns and refining excellence in upturns, can we greet the new round of industrial growth with a long-term perspective," he stated.
Turning to the transformative impact of artificial intelligence, Yao argued that embracing AI is no longer optional but a mandatory requirement for survival and growth. Drawing on consensus reached at previous forum events, he stressed that AI transformation cannot be delegated solely to subordinates; entrepreneurs must personally engage with the technology. Companies should bring in large numbers of AI-native young talent, while leaders themselves need to proactively update their knowledge, understand and apply AI, and deeply integrate it into the entire chain of production, management, and marketing. This approach empowers core business operations with cost reduction, efficiency gains, and iterative innovation.
"Companies that keep pace with the AI wave will encounter vast development opportunities. As we can see, in the current capital markets, businesses with AI concepts and high-tech credentials are performing the best," Yao noted.
On the topic of globalization, Yao advised companies to adopt a rational approach to overseas expansion, charting a path that remains rooted in China while being robust and manageable. As the domestic market matures and approaches saturation, going global has become an inevitable choice for China's leading enterprises. "We must clearly recognize that only by staying grounded at home—safeguarding core technologies and consolidating a strong domestic asset base—can global strategy achieve lasting and stable development," he concluded.
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