ated from film school, he was heavily walked into real estate industry, and now he is contributing ‘almost 90% of his energy into the national distribution of digital cinema and promotion and development of EVD industry.’
Pan Shiyi, Xie Qiang, Feng Lun, Zeng Wei, and Pan Shiyi were known as 'Hainan Five Brothers', Zhang Baoquan recall many experience in Hainan, he still has mixed feelings,’ I experienced a real estate tragicomedy during six months time when I just went to Hainan. I saw some people become self-made millionaires overnight; some multi-millionaire lost everything overnight, from mortal to immortal, from gods to devil, it can be said that Hainan is the most good learning materials for China's generation market awareness and risk awareness, only take a consideration and combine gods and demons, that’s people.’ Zhang Baoquan prompted a decision to do package deal, got out before real estate bubble about to shatter in Hainan, going north was one of most important decision in Zhang Baoquan’s whole life.
Reform and opening takes historic changes, in this great tide of market economy, Hainan becomes fertile soil for the first growth of entrepreneurs in China, Hainan are even hailed as one of the three cradles of Chinese private entrepreneurs. From spontaneous exploration to conscious cultivation, from disorder to order, operation of market economy provides a broad carrier for Chinese entrepreneurs.
It is such a complex, romantic and brutally competitive environment that created ‘Hainan memories’ for Chinese entrepreneurs. ‘Hainan memories’ are more or less reflect a bright spot of China’s social reform and opening up, policy liberalization and close relationship to people's livelihood are served as a touch of bright for Chinese characteristics.
(C) Importance of quick transformation and upgrading for Chinese enterprises
Since reform and opening up, China's economy gained rapid development by attracting a large number of foreign investments, developing foreign trade. Foreign-funded enterprises play an important role for China to improve technology and management, train and cultivate talents, promote market development. However, (Zhang, 2001) foreign investment brought to China is not all sunshine and rain, with rapid growth of foreign capital in China, the nature of monopoly capital begin to reveal, its positive role will be diminished gradually and negative affect will come out. (Yan Guanghua, 2002) in opened Chinese industries, top five companies in each industry is controlled almost by foreign capital; in 28 major industries in China, foreign investment in 21 industries has the majority control of assets. Some multinational enterprises as standard setters for a number of products and technology embedded their patents to various international standards, so that Chinese enterprises will have violation unconsciously in the following and using the standards, and then they will get profit through litigation rights. For example, multinational corporations forced Chinese DVD disk player manufacturers to pay nearly 100 million Yuan royalties every year by using ‘DVD patent alliance’.
In the beginning of reform and opening up, China has been implemented a long time of ‘market for technology’, ignored ‘independent innovation strategy’, so this fell into the ‘introduction, out of date; and then imported, and then falling behind’ vicious cycle until the 20 century. It not only seriously curt
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