Company leaders: Web tech crucial for industry upgrade

Internet technologies are vital for the transformation of traditional industries and addressing issues like structural reforms and overcapacity, experts said on Thursday.

Speaking at the ongoing World Internet Conference in Wuzhen, Zhejiang province, Zhang Ruimin, chairman of Haier Group, said in the long run, reforms will focus on tailor-made production, rather than large-scale production.

"There are no Internet companies in the real sense. Rather, what we have are firms that possess Internet technologies. Real Internet companies must be able to use user experiences for faster realization of goals. In fact, offline or even e-commerce channels are not required for satisfying consumer demands. What we need are Internet factories, or units without any fixed production lines, but flexible enough to cater to diverse demands," he said.