The panel moderator, Wei Zhu, chief executive officer, Miaozhen Systems, asked panel members about their level of confidence regarding the development of the internet industry in China and whether there were any obstacles that needed to be removed to improve the industry.
Members of the panel were: Alan Hellawell, MD and head of Asia for TMT Research, Deutsche Bank; Lei Li, senior media manager, Mars China; Elaine Wang, VP of commercial operations for Sina; and Claire Zhang, associate media director with Yum Brands China.
Hellawell said that while overseas investors were also excited about the bullish development of the internet industry in China, which has developed rapidly in the past decade, they were concerned about the reliability of data coverage when it came to long-term investments. Unlike the market in the West, where internet players like Facebook are more open in sharing information with their competitors—as they believe that 1+1=3—overseas investors don't feel their Chinese counterparts are open about exchanging information.
Li of Mars China agreed that because campaign effectiveness is a key factor in brand media strategies, "We need more data openness and reliable assessment of the internet campaign to see how it helps our business."
Sina's Wang said the high popularity of his company's portal and weibo platform reflected consumer confidence. With better legal requirements in China relating to the internet industry, it would be a win win solution for all, she added.