Liu Chuanzhi: I survived a lot of insecure moments

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Liu Chuanzhi: I survived a lot of insecure moments

2018-05-29 10:25:47 178 ℃

Liu Chuanzhi

He was born in Shanghai in 1944. He was the founder of Legend Holdings and Lenovo Group. People, famous Chinese entrepreneurs and investors. He turned from a technician of the Academy of Sciences and became the first Chinese entrepreneur since the reform and opening up. In many commercial fields, Liu Chuanzhi's practice and exploration have prevailed. Although the Lenovo Group faded out for many years, focusing on Lenovo Holdings, deep investment in the field, but the "Lenovo" label has always been attached to Liu Chuanzhi. In 1978, 34-year-old Liu Chuanzhi worked as an engineering technician at the Institute of Computing Technology of the Chinese Academy of Sciences. The news of reform and opening up came and Liu Chuanzhi said that at the time, only the sense of ambiguity, the era may have changed.

Liu Chuanzhi: “At that time, the biggest feeling I had was still not talking about the future. As for reform and opening up, we just feel that China may really end this era and focus on economic development."

The computational institute was the most authoritative computer research institution in China at that time. The large-scale computer developed by the Institute had to be installed in a house of more than 300 square meters. The operation was performed 10 million times per second. Speed ​​is also very different from international standards.

Liu Chuanzhi accepts an interview with Yang Guang reporter Feng Shuo

Liu Chuanzhi: “In the Academy, although I did scientific research, it turned out to be unproductive. People are anxious."

Authentic changes occurred in 1984 >

To Liu, the real change came in 1984. Before that, researchers had started to serve companies in Zhongguancun and used knowledge to make money. This stimulated the technical staff of the Academy of Sciences.

The Institute also took out 200,000 start-up capitals and founded the New Technology Development Corporation of the Institute of Computing Technology, Chinese Academy of Sciences, which is the predecessor of the Lenovo Group. The initial office was located in the communications office of the Institute of Computing. Only 11 people, Liu Chuanzhi transformed.

Liu Chuanzhi: “When there is an opportunity for me to be a company in 84 years, I really felt that I was particularly pleased with the fact that it was also a great sacrifice for the bloodshed. After the Zhongguancun had run these private enterprises, the income there was far higher than the income of the scientific and technical personnel in the institute. The director was very anxious at that time. We hope that we can also run a company. If we can generate revenue, we can actually make up for the scientific and technical personnel."

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In 1984, Liu Chuanzhi and 11 other researchers were in a small cottage less than 20 square meters (calculated by Chinese Academy of Sciences) The association's office created the association.

But running companies and engaging in scientific research are fundamentally two things. Although backed by China’s most authoritative computer research institution, Liu Chuanzhi also tried for a long time and even sold stalls selling electronic watches and roller skates.

Liu Chuanzhi was questioned why he did not choose technology. inIn his view, the choice of enterprise development path does not jump out of the development stage at that time, and the pressure for survival is much greater than others.

Liu Chuanzhi: “Actually, many people do not understand now and think that we do not value it. In fact, at the time, we didn’t have any source of funds. Selling things for people, learning what markets were, learning a lot of the basic rules of doing business, and accumulating funds, the goal was to hopefully have our own brand of computers.”


R&D Your Own Brands to Meet Greater Challenges

To develop their own branded computers, Lenovo adopted a "three-step" strategy. The first agent, and then introduce their own production line, at the same time, use the money earned as an agent to engage in research and development.

Liu Chuanzhi: “Before the year 88, (we) probably used two or three During the year, Lenovo branded computers were gradually produced, but at the time it was not very well sold. One was no brand, and the other was not necessarily guaranteed. It took a year or two before the quality became stable.”


With its own brand, Lenovo has ushered in even greater challenges. The "General Agreement on Tariffs and Trade, 1994" was issued, China's import of computer tariffs from 200% to 26%, IBM, Compaq, Hewlett-Packard and other foreign computer brands entered. ReallyThe contest between the "small board" and "aircraft carrier"! At that time, Lenovo promptly launched a battle against cost and quality.

Liu Chuanzhi: “In the year of 1993, we were old and old in this industry. The big brother, the Great Wall, was washed away in a year. Facing that situation, he took a good look at what was originally his problem and reorganized it on a large scale. At that time, he was a little bit of a force. Assume that China has no association. If foreign computers are the main focus, they will be more than humans, and the price will be much more expensive. With its own brand of computers, China's informationization has greatly advanced a step forward."

1997 In 2005, Lenovo Computer won the first place in China's market share.

Turn on the strategy of going global...


At the end of 2004, Lenovo Group launched its strategy of advancing to the world. In one fell swoop, it purchased IBM's personal computer business, which has 4 times its total assets, for a total of 1.75 billion U.S. dollars. , known as "the first large-scale cross-border acquisition of Chinese companies." Liu Chuanzhi recalled that the biggest “decent” for this merger was the extremely shortened time for Lenovo’s internationalization. Dramatically, 20 years ago, Liu Chuanzhi and his partners started their entrepreneurial journey with IBM's agents.

On December 8, 2004, Lenovo Group announced the acquisition of IBM Global PC IndustryBusiness.

The 2008 financial crisis is arguably the starting point for Chinese companies to actively participate in overseas M&A. In 2016, private companies outperformed state-owned enterprises in overseas acquisitions. In mergers and acquisitions, Chinese companies read the market and gradually gained respect from the world.

Liu Chuanzhi: “Lastly Lenovo (Holdings) also had a big merger, possibly It may be announced some time ago that when you first acquired it, you thought that the Chinese would not be able to do it. Didn't you just buy us? I'm not doing it to anyone? You don't understand. This is the mentality of foreigners in the past. Now everyone thinks Chinese companies understand that people still respect Chinese companies’ ability to innovate in business models, etc.”

Legend Holdings Investment Area


In 2001, Lenovo split, and Liu Chuanzhi led Lenovo Group’s parent company Legend Holdings into the investment field.

On June 29, 2015, Legend Holdings was listed on the main board of the Hong Kong Stock Exchange and is currently one of the largest diversified investment groups in China.

Liu Chuanzhi: “Now the country places great emphasis on direct investment in the financial sector. We have direct support for the real economy. We have invested in more than 500 companies before and after the investment. After the investment is over, we must also help the investors to communicate with each other in management. What are their difficulties and how can they help them? Go out."

20156 On the 29th of the month, Legend Holdings listed in Hong Kong as a whole.

In addition to the traditional IT industry, Legend Holdings’ strategic investments also cover financial services, agriculture and food, and new materials. Financial investments are abundant in high-tech fields such as life sciences and artificial intelligence. Layout. From the competition of the traditional computer industry to the competition based on the development of the Internet, Liu Chuanzhi believes that technological change makes this era usher in a turning point. It is a challenge and an opportunity.

Liu Chuanzhi:"Because after the advent of the mobile internet, you would like to When artificial intelligence, life sciences, and digital energy are combined together, they will be combined together. It will be equal to the combination of two positive energies and will undergo a great change. In fact, a country is stronger or weaker, and it is ultimately better than technology. Strength is strong."

On May 2, 2018, when General Secretary Xi Jinping visited Peking University, he said: "Major scientific and technological innovation achievements are the key to the country and the weapon of the country. They must be firmly in their hands and must rely on self-reliance and independent innovation."

On May 2, Xi Jinping, general secretary of the CPC Central Committee, president of the country, and chairman of the Central Military Commission, visited Peking University. This is Xi Jinping's discussion with teachers and students at Peking University and his important speech. Xinhua News Agency reporter Li Tao photo

This road is still very long.

Come out of the gates of the Academy of Sciences and start business with teeth. After experiencing the ups and downs of Shang Hai, Liu Chuanzhi has been over 70 years old. He talks about core technology and continuous innovation. His eyes are still shining with his youth.

Liu Chuanzhi: “We used to say that only Chinese made is not created in China. In my heart, I was not convinced by this statement because the private companies in the country, especially the Internet service providers, had enough funds and capacity to do a lot of layouts in advance. In addition to the research and development of scientific and technological forces, special attention should be paid to the private enterprises' emphasis on science and technology."


Vicetor Says

"I have witnessed China's IT industry, really from scratch, and now lives in a leading position in the world. Forty years ago, we were dreaming. We desperately dreamed that we absolutely dreamed that China would not be today. In this way, our reform and opening up has been ups and downs in these 40 years, and China has accumulated this potential energy, and there should be a breakthrough behind me. We can really turn China into a truly world power."

——Liu Chuanzhi

In 1978, marked by the Third Plenary Session of the Eleventh Central Committee of the Communist Party of China, China opened the history of reform and opening up. Journey. As General Secretary Xi Jinping said, “From the countryside to the city, from trial to promotion, from the reform of the economic system to the comprehensive deepening of reforms, 40 years of loyalty, 40 years of forging ahead, 40 years of spring rain, the Chinese people used their hands to write national and national development. The magnificent epic.”

In this great transformation that profoundly changed China and profoundly influenced the world, how many magnificent journeys are there, and how many moments to remember? In commemoration of the 40th anniversary of the reform and opening up, the Voice of China, the People's Broadcasting Station of China, has been on the 40-year history track and has visited many witnesses of major historical events to record their memories, thoughts, and prospects.

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