Executives share views on China's Web future

Zhou Hongyi, Chairman of Qihoo 360 Technology Co Ltd.[Photo/IC]

China is standing on the same line as the United States and other developed nations in the industry and has a chance to surpass the West as the world talks about Internet 3.0.

A2 I think innovation will be the biggest opportunity, and, in the meantime, a huge challenge for the Chinese Internet industry. Our mainstream values do not go well with innovation.

An entrepreneur has to be tolerant of failure because there is high chance for an innovative idea to fail. Only when the country establishes a culture that tolerates failures will its people attempt things they did not previously dare.

To be innovative, we must allow the existence of new things that are outside of our imagination. However, the Chinese culture worships success and advocates conformity.

These factors are most likely to hinder the growth of Internet-based innovation. I think this will be the biggest challenge. We should give new trends emerging in the industry more space and support instead of containing them with preexisting rules that may not fit.

A3 In the future, I think the Internet will be adopted by every industry and will be transformed by traditional industries as well. It should be an all-industry thing.

A4 In the age of the Internet of Things, smart-connected hardware will be the next big thing, using technology to change the way people live and solve problems the public faces. Qihoo 360 has started to make steps in the smart devices market. We have produced smart security cameras, smart watches for kids and driving recorders to help tackle safety problems at home and on the road.

In addition, we have developed environmental safety and information security products. These are the key focus for Qihoo 360.

A5 For a startup, the standard for success is not the amount of financing. A successful company should keep making products that meet customers' requirements.