Economic Observer Network reporter Ding Wenting On June 30, 2022, the "19th (2022) Blue Chip Annual Conference" hosted by " Economic Observer " was held in the cloud. Wen Zhao, executive editor of the Economic Observer, delivered a speech at the event. He said that the old model can no longer support the development of the real estate industry. After the big waves wash away the sand, those real estate companies that persist in exploration and experience ups and downs will reshape the real estate market and form a new development model for real estate. .
The following is the full text of the speech:
Dear guests and friends, on behalf of the Economic Observer Newspaper, I would like to welcome everyone to the "19th (2022) Blue Chip Annual Conference", and I am very happy to gather with you online.
The theme of this year’s Blue Chip Real Estate Annual Conference is “Exploring New Development Models of Real Estate”. Since we are exploring new models, it means that the old model can no longer support the development of the entire industry, cannot bring new imagination to the market, nor can it give practitioners involved in it a continuous sense of gain. It can even maintain the profitability of many companies. The status quo is unlikely.
So I want to say that this is an era of alternation between old and new. Generally speaking, there will be some particularly interesting phenomena in such an era. For example, there will be more pessimists. Whether inside or outside the industry, I am afraid we will hear many people doubting that this industry has no future and see no hope. The reality is that many companies are struggling to support themselves, but often they can’t tell where the direction is, and no one dares to say whether an inflection point has already occurred. Maybe we will also see some people express their confidence in the prospects of the industry, but they may be in the minority.
But if we extend the time, such as three to five years, or even five to ten years, and look at this industry, we may find that the time we are in is exactly the key point in the industry's great changes. Standing at this point in time, or looking at it from this point of view, those companies that always maintain awe of the basic laws of the market and business and continue to explore; those companies that can still unite people's hearts and maintain their business even in the most difficult times. Enterprises that have their own backbone teams and are constantly honing new core capabilities in the changing situation; those entrepreneurs who have a strong heart and are unwilling to give up easily; they are the most likely to stay in the arena and win again after the storm New development opportunities for businesses. I think the market will definitely change all real estate companies, and some companies will exit the market early. But those real estate companies that persist in exploration and experience ups and downs will also reshape the real estate market. This is what we call a new development model.
At this point in time, perhaps we can say that real estate is no longer real estate. It is definitely unsustainable to do real estate by acquiring land, building houses, selling houses, continuing to make rapid advances with high leverage, and competing for the first place in terms of scale. But we have to say that real estate is still real estate, especially for blue-chip real estate companies. The way to build a lasting business is always to believe in and adhere to long-termism, to continuously innovate entrepreneurial spirit , to create wealth and create value for society. sense of responsibility.
In the past 20 years, real estate companies have gone from the golden age to the silver age and entered the black iron age. However, we believe that there is no such thing as the best era, only enterprises and entrepreneurs that adapt to the times and keep pace with the times. We believe that every era will have outstanding enterprises belonging to that era. The real estate market is no exception. We look forward to the best businesses of the coming era, from the blue-chip companies here today.
Today we will hear a lot of insights from the government, academia and business circles. I hope that the stirring of these ideas can help us get through the fog and embrace the sunshine.
