Time now for our "Confidence and Change" series, where we bring you discussions with entrepreneurs from prominent domestic firms who offer insights into the development of the private sector across various industries. In this episode, our reporter Yu Li speaks with Wang Jing, the CEO of Newland Science & Technology Group. They delve into how the company has emerged as a global leader in innovative and high-performance digital services and its vision for the future.?

YU LI Fuzhou "What is the latest technology that the company is currently developing?"

WANG JING CEO, Newland Science & Technology Croup Co., Ltd. "We were early pioneers of QR codes in China, bridging the physical and digital worlds. Initially, we faced foreign dominance in QR code technology. But through dedicated research, we developed our own decoding chip. Now, our products are used in more than 100 countries, and we're closely tracking digital trends like facial recognition and digital citizenship."

Established in 1994, this company, headquartered in the southeastern city of Fuzhou, is a high-tech digital industry group with a core focus on digital technology. They cover the entire industry chain, from Internet of Things terminals and system platforms to big data applications.

Currently, the company is actively contributing solutions to support the national initiative known as "Digital China."

WANG JING CEO, Newland Science & Technology Croup Co., Ltd. "The central government is working on Digital China, a crucial strategy for the new era. Governance is key, and it relies on building infrastructure. In the past, it was physical infrastructure like networks, but now it's centered on people, their digital identities. This is the concept of digital citizenship."

Wang emphasized that tech innovation and R&D are vital for achieving these goals.

Out of Newland's 8,000 employees, 60% are dedicated to technological innovation. The annual R&D expenditure accounts for 10% of the total revenue.

Wang believes that innovation is also the reason for the company's success in overseas markets.

YU LI Fuzhou "Recent data indicates a decline in export figures. Has your company been affected by this trend, and what factors do you believe are driving this change?"

WANG JING CEO, Newland Science & Technology Croup Co., Ltd. "Different industries have different impacts. In our industry, which is on the rise, our exports kept growing. We've always pursued an international path from the beginning. Chinese companies need international recognition, and going global reflects a company's strength. We increased our international efforts pre-pandemic and continued to grow during it. Innovation is key, and our competitive edge lies in our technological advancements, product performance, and delivery capabilities, thanks to China's leadership in digital applications and payments."

In 2021, the company's smart terminal cluster, covering digital payment and intelligent recognition terminals, doubled its overseas sales revenue. In 2022, it achieved a 46% year-on-year growth.

YU LI Fuzhou "Could you elaborate on the company's upcoming plans considering the current economic landscape and the recent policies aimed at promoting the private sector?"

WANG JING CEO, Newland Science & Technology Croup Co., Ltd. "Private enterprises are vital contributors to the society and economy. They possess a strong innovative spirit. Recent policies to support them are important, but successful implementation is key. We need to ensure a fair environment for competition based on skills and technology. Improvements are needed, and providing better policies and platforms for entrepreneurs is crucial for China's economic growth."