Jack, chairman and co-founder of Jack, said in an exclusive interview with NetEase that the Chinese auto industry has entered a stage of slow development, but the growth rate of 9% still gives the Chinese auto market a very good investment value. In all fields, he is very optimistic about the field of commercial vehicles.

The following is an interview record:

Netease Auto: Dear users, welcome to continue to pay attention to the live coverage of the 2012 Global Auto Industry Forum Netease. It is a great honour to introduce this session to you. The guest of Guest Netease Interview is the Chairman and Founder of Jack Holdings. Mr. Jack, welcome to you!

Jack: Thanks!

Netease Auto: First of all, I would like to ask Mr. Jack. What is your most interesting topic at this year's Global Auto Forum? Can you share it with us?

Jack: From my perspective, I think it is a good opportunity to comprehensively understand the international and even the domestic auto industry. The growth of the Chinese auto industry is still very good. Of course, there are some global Large events such as the financial crisis, the Japan earthquake, some natural disasters in Japan, and the growth of the international auto industry are stable, but these big events have been affected by some. In this case, we can come to this meeting and see some domestic and international automotive industry experts and industry professionals talking about the growth of the auto industry. From my perspective, we can get them directly from them to the country. The automotive industry, the direct evaluation and information of the international auto industry, it is very valuable.

Netease Auto: In 2012, the growth rate of the Chinese auto market slowed down. Do you think that the Chinese auto market is still the best investment environment?

Jack: Of course you are right. From June to July, the growth rate is about 8.6%. It seems to be slower than before. But this does not affect China's auto industry's attraction of foreign investment or investment. From China, China The automotive industry's market is still very large, with an overall annual total of 19 million to 20 million vehicles. From the rapid growth of the past to the steady growth, as the CEO of the Middle East Summit said this morning, he believes that the Chinese auto industry has experienced rapid growth. The period should be a steady increase. I agree with this point. Such a large automobile market in China, if it has a growth rate close to 9-10%, and this kind of growth rate in the next five to ten years, is a very good investment market.

Netease Auto: The most valuable investment field in the Chinese market. Where do you think the future will be?

Jack: The overall growth of China's auto industry is very good, very stable, and the market is also very big. However, there is one thing that has great competition. The competition is manifested in the competition of product technology. International big brand competitors and domestic manufacturers are constantly catching up. This is particularly fierce in the field of passenger vehicles. However, I am very optimistic about the investment field. I prefer commercial vehicles. Commercial vehicles mainly refer to buses and trucks. Commercial Vehicles We haven't seen any obvious, prominent competitors like passenger cars coming out, and there are no particularly prominent winners, so there is still great investment value in this area. It should be acknowledged that the overall situation of commercial vehicles last year and this year is not very good, but it is also a slowdown or a slight decline, which is related to the overall situation, but I generally feel that the commercial vehicle sector has more investment value.

Netease Auto: In the end we would like to ask Mr. Jack to introduce your experience. We know that you have a rich history from Wall Street to ASIMCO. Can you introduce Jack Holdings Limited and let everyone know more about it?

Jack: I am an MBA from Yale University Harvard. After I graduated, I worked on Wall Street. After 20 years of work, I worked in a famous big investment bank. It should be a successful 20-year Wall Street career. In the early 1990s, I was very interested in Asia. I came to mainland China from Hong Kong. I came to China for the first time in September 1992. I took a fancy to the auto industry. I established ASIMCO Group through financing and entrepreneurship, and I also worked in China. 20 years. Now that I established Jack Holdings, I returned to my old bank. The investment banking business itself combines 20 years of experience on Wall Street and 20 years of experience in running Chinese cars. It mainly focuses on three major issues. One is to help Western companies. In China, there are a lot of automotive areas, of course, not limited to the automotive sector, because we are investment banks, the second is the Chinese companies go out, the third is financing, this is a typical investment banking business. Having 20 years of Wall Street foreign investment experience and 20 years of domestic operations management experience, it has been more exciting for the next 20 years.

To say a few words, because my first 20 years of success on Wall Street was in the 1970s and 1980s, I think the current financial market in China is very similar to the financial markets of the 1970s and 1980s in the United States. More money is now slowly available, but the financial market is still growing, slowly systematizing and maturing. In the past 20 years, China will have a better period of growth in financial markets and capital markets. So I I feel like I have a place to use it.

Netease Auto: How do you judge the development of Chinese cars in the next decade?

Jack: I'm still full of confidence. Regardless of market predictions, experts or economists predict that by 2020 the output of 30 to 40 million vehicles, or we can guarantee a growth rate of about 10%, there are It is possible to realize that I am optimistic. Here is a theme, under the premise of development, I think that the Chinese auto industry will become the source of the global auto industry reform and innovation, such a big market, such a complex car environment, so many users, new energy, emissions, etc. With a series of requirements, its reform and innovation must take place in this area and become the theme of the development of the Chinese automobile market.

Netease Automobile: Thank you very much for the wonderful views shared by Mr. Jack. I also thank the managing director Huang Jian for his assistance in this interview. Thank you for watching. The interview ended and thank you!

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