Keyu Jin

And this is where the Chinese approach to innovation is very different from the Silicon Valley one, I'd say.

But they see opportunity.

They see a country with a billion consumers.

They see scale.

They see speed.

They see that...

With their dreams and the team that you have in China with engineers and the digital transformation, you can do so many things.

And this generation of young people think about transforming their local economy.

I think we're going to get into this, but it's no longer going to just be manufacturing.

The young kids are entrepreneurs.

I've rarely seen a more capitalist society than China from the pure economic side.

I've rarely seen companies that are as competitive as Chinese companies, people as ambitious and obsessed with making money as Chinese people.

Kind of ruthless, actually.

And look, you know, consumers shop, firms invest.

If you invest well financially, you'll get great returns.

What is not capitalistic about the Chinese economy?

At the same time, the social fabric is highly socialist.

First of all, the state enterprises dominate many of the sectors.

The state banks control the financial system.

We often talk about common prosperity, about equal opportunity, just and fair society.