When discussing the future development of a company or a city, I believe the most challenging aspect has never been identifying opportunities, but rather summoning the courage to make decisions amidst an abundance of opportunities and immense pressure.

Those familiar with Xiaoqian know that I have been running a business in Changsha for a solid eleven years. Throughout this period, I have witnessed the city's transformation, which has left a profound impression on me.

On September 9th, representing our company's account Songguo Finance, I had the honor of attending a special symposium hosted by the Mayor of Changsha. The event focused on implementing suggestions from municipal people's congress representatives and proposals from municipal political consultative conference members.

It is worth noting that, for the first time, the Mayor allowed representatives from self-media to sit in the front row, participating intimately in the exchanges between leaders, people's congress representatives, political consultative conference members, and experts and scholars. This honor was unprecedented for me and perhaps rare on a national scale.

Throughout the meeting, one point deeply resonated with me: the Mayor did not merely boast about achievements but instead openly addressed a series of issues currently facing Changsha. He spoke candidly about the city's insufficient leading influence, suboptimal industrial structure, weak emerging industry succession, inadequate chain capabilities, and poor commercialization of research findings (meaning the ineffective translation of research results into commercial products).

Has Changsha truly fallen behind?

The Mayor did not shy away from acknowledging the city's shortcomings: insufficient leading influence, suboptimal industrial structure, weak emerging industry succession, inadequate chain capabilities, and poor commercialization of research findings. He laid out these issues one by one.

These issues have been debated by outsiders for many years.

After the listing of Changxin Memory Technologies, the discussions intensified. Hefei emerged as a major player in the memory chip sector, while Wuhan made early strategic moves in semiconductors. In contrast, Changsha's construction machinery growth appears to have plateaued; the consumer sector is lively but not highly profitable, nor is it a hot track for capital.

Thus, the question has been repeatedly raised: Has Changsha truly fallen behind?

Friends from outside the province often ask me this too.

In the past, I was hesitant to discuss this publicly. After running a company for eleven years, I understand how easy it is to theorize. Anyone can identify problems from the outside; the real challenge lies in solving them with limited resources and manpower, determining who will address them, and tracking the solutions to completion.

This meeting revealed a rare attitude.

A mayor willing to openly discuss problems, gather people's congress representatives, political consultative conference members, and experts and scholars to drive solutions within a deadline. This sincerity is rare in itself.

But beyond the attitude, I am more concerned about how Changsha will proceed next.

Changsha's Strength Lies in Manufacturing

The market's greatest anxiety about Changsha is that it might miss out on emerging trends.

My perspective is the opposite: the biggest fear is not missing one trend but being unwilling to let go of every trend after missing one.

When memory chips become popular, there's a desire to jump in. When embodied intelligence gains traction, there's fear of falling behind. Large models, low-altitude economy, biomanufacturing—none can be overlooked.

Anyone who has run a business knows that chasing trends is never a sound strategy. Emerging industries have their own cycles. Rushing in at the peak, only to witness the bubble burst and chaos ensue, leaves only those who persevere through the cycles and keep working as the survivors.

The same principle applies to how cities allocate industrial resources.

Changsha is neither coastal nor border-adjacent. As transportation becomes more convenient, competition between cities becomes more direct. This raises the question: Why should talent and businesses choose Changsha?

My judgment is straightforward: Some opportunities, once missed, should be accepted as such. With limited resources, the real opportunities lie in directions where one has a foundation and can build long-term advantages. Once identified, go all-in.

That's why I pay extra attention to one thing: Changsha reducing its key industrial chains from 17 to 11.

On the surface, it seems like a reduction of 6. But looking deeper, it means Changsha is starting to make choices.

New materials, embodied intelligence, biomanufacturing, aerospace—what can truly connect with Changsha's manufacturing capabilities and research resources matters far more than chasing the hottest concept.

This resonates deeply with me.

I dropped out of high school and dove headfirst into the internet sector, making my way to where I am today. Looking back, I've missed many opportunities and taken plenty of detours. What truly stabilized me was figuring out three things: what I'm good at, what's worth doing long-term, and what opportunities have nothing to do with me.

When people are lost, they tend to look at what others have. The same goes for cities.

Looking at others: Hefei has memory chips, Wuhan has Optics Valley, Hangzhou has the internet. What about Changsha?

I've observed for a long time, and the answer has always been there—Changsha is a manufacturing city.

Besides construction machinery, cars, phones, air conditioners, and many other products are made in Changsha. With 86 listed companies, this number ranks highly nationwide.

Over the years, I've visited over 20 listed companies and discovered something interesting: Changsha has a group of unique enterprises.

Ordinary consumers may not have heard of them. But in highly specialized B2B fields, their technologies and products are national leaders. These are standard specialized, sophisticated, distinctive, and innovative enterprises.

Some excel in making one component, some master one material, and some grow slowly by relying on a very narrow technology.

This is my judgment on Changsha's future industries: with Changsha's foundation, new significant companies will emerge in future industries.

They will likely grow from today's listed companies—through internal incubation of new businesses by listed firms, entrepreneurship by executives with decades of industry experience, engineers starting companies with their technologies, and integrating university research findings.

This path is viable in Changsha.

The value of these companies lies not just in today's revenue. They've gone through the entire process of turning technology into products, finding customers, and growing from small to large. Their understanding of technology, markets, and sales forms the foundation for Changsha's future industrial development.

Instead of replicating someone else's successful industry, I look forward to Changsha growing its next batch of companies from its advantageous industries.

After Daring to Invest, One Must Also Know How to Invest

Who will drive the big battles in future industries in Changsha?

Changsha boasts three 985 universities, second only to Beijing and Shanghai in number. Data shows that Changsha has seen a net influx of over 3 million talents, most under 35. Few cities nationwide can offer a lifestyle where young people can live, work, and settle down without compromise.

In the new municipal government, several deputy mayors come from economic sectors like CRRC, commerce, and finance. Some understand technology, some understand the market, some dare to innovate, and some can organize resources.

At the stage of artificial intelligence, robotics, and biomanufacturing, urban competition is no longer just about land and factories. Ultimately, it's about people.

I agree with the Mayor's talk on industrial funds this time.

Shifting from evaluating individual projects to evaluating the fund as a whole; from annual evaluations to cyclical evaluations. Encouraging funds to invest early, in small ventures, and for the long term—this direction is correct.

But there's a tougher question ahead: Daring to invest is just the first step. Knowing how to invest is the real skill.

Does a technology have prospects? Can a team turn a product into reality? Is a currently unprofitable project worth long-term support? These judgments require people who truly understand technology, industry, and the market.

One sentence from the Mayor's meeting stuck with me: Let those who understand technology assess technology, and let those who understand industry oversee industry.

Changsha has problems. But at least today, someone is willing to lay them out, and someone is willing to solve them bit by bit. Success doesn't have to be on my watch, but I will surely be part of it—this attitude matters more than anything.

I have been running a business in Changsha for eleven years. For the next decade, I will continue walking with this city.

I look forward to a day when people study Changsha not because it replicated someone else's success but because it forged its own path.

Source: Songguo Finance