Liu Yonghao: Private enterprises must strive to prevent "involution," avoid "lying flat," and find a way out

New Hope Group Chairman Liu Yonghao stated that current private entrepreneurs are showing a strong fighting spirit, which is an advantage of the Chinese economy, but it is also necessary to be wary of the potential "involution" competition that may arise.

In the face of challenges brought by slowing economic growth and the transformation to high-quality development, many traditional business operators have experienced anxiety and even fallen into a state of "lying flat" or lack of confidence. In this regard, Liu Yonghao pointed out: "Difficulties will not disappear due to anxiety, and 'lying flat' means a complete withdrawal from the race. Only by maintaining effort can there be a possibility of turning the situation around and moving forward."