---
title: "Shi Jinchuan discusses encouraging private enterprises to innovate: technological innovation and business model innovation cannot be prioritized over one another"
description: "Zhejiang University professor Shi Jinchuan stated on October 25 that the government should give equal importance to technological innovation and business model innovation. He used DeepSeek founder Lia"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/262738152.md"
published_at: "2025-10-25T23:51:21.000Z"
---

# Shi Jinchuan discusses encouraging private enterprises to innovate: technological innovation and business model innovation cannot be prioritized over one another

> Zhejiang University professor Shi Jinchuan stated on October 25 that the government should give equal importance to technological innovation and business model innovation. He used DeepSeek founder Liang Wenfeng and Alibaba's "Double 11" promotion as examples to emphasize the importance of business model innovation, pointing out that it not only promotes the platform economy but also drives improvements in big data and algorithms, aiding the development of Alibaba Cloud

On October 25th, Shi Jinchuan, a senior professor of humanities at Zhejiang University and deputy director of the Zhejiang Provincial Government Advisory Committee, stated that the government should not differentiate between technological innovation and business model innovation; both are equally important. He cited the example of Liang Wenfeng, the founder of DeepSeek, who originally engaged in quantitative investment, which is a financial model and falls under the category of business models. He further referenced Alibaba's creation of "Double 11" over a decade ago, noting that "Double 11" brings extremely high order peaks, which may be economically unreasonable, but in reality, Alibaba's creation of "Double 11" not only promotes platform economy sales but also enhances hardware and algorithm improvements and innovations through big data, driving the development of Alibaba Cloud

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.