At the beginning of China's vigorous implementation of the Internet + action plan a few years ago, many Western scholars were still wondering whether the source of China's economy could be reinvigorated by the transformation and upgrading of traditional industries alone. When China's home appliance companies realize the butterfly change from selling products to providing smart equipment, and feel the pulse of China's economy again, they may be able to see more clearly that the idea of China's transformation is not only to activate the old kinetic energy, but also to cultivate the new kinetic energy. As the Wall Street Journal commented, China was once famous for cheap labor, but now it has something else to contribute to the world-innovation. The continuous spread of innovation is becoming the new momentum of the second stage of the Chinese miracle.
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The upgrading of traditional industries depends on the cultivation of new momentum.