万达集团 王健林董事长牛津大学公开课

Wanda Group - Chairman Wang Jianlin Oxford Open Lecture

彼得·图法诺教授欢迎致辞

Introduction by Professor Peter Tufano

下午好，我是牛津大学赛德商学院长彼得·图法诺，欢迎大家莅临牛津大学和赛德商学院

。我们稍后将会有王董事长和我的同事埃里克·图恩加入讲座。

Good Afternoon, I am Peter Tufano Dean of the ( Saïd Business) School and I’d like to welcome

you all to the University of Oxford and to Saïd Business School. In a moment we’ll be joined by

Chairman Wang and my colleague Eric Thun.

我想先作两则公告好让参与的学生先有个预备。所以，在开始之前，烦请确保关掉你的手

机，在讲座期间不要进行闪光灯拍摄。需要翻译的观众，英语请切换到频道一，普通话请

切换到频道二。王董事长演讲结束后，将有问答环节。问题请尽量简明扼要。首20人位

提问的，将会获得王董事长签名的《万达哲学》一本。当然，如果你的问题不好，我们会

将它收回来。

I’d like to make a couple of announcements first then just a quick remark for the students in the

room about what is install for you. So, before we start today, could you make sure you switch off

your mobile phones and you don’t take flash photographs during this session. For those of you

who require translation please switch to channel one for English and channel two for Mandarin.

Once Chairman Wang’s talk has concluded, there will be time for questions. We ask that you

keep those questions brief and to the point and for the first 20 people who ask good questions,

there will be a signed copy of Chairman Wang’s book – the Wanda Way. Of course, if your

questions are not good, we will take it back!

你们将会听到王董事发言，让我先说几句话介绍一下。当你想到万达，你会联想卓越：最

大，第一，最多，最快。但如果你看了这本书，很高兴我已经看过，我觉得你会理解到3-

4个主题。首先，成就是很好，但这本书主要是讲关于决心和决心导致成功。其次，虽然

里面提到很多关于创业精神，里面还有关于纪律和灵活性的结合。所以，当你听到王董事

长的演讲，你将会了解到如何纪律性地确保事情做的妥当，还有如何灵活地适应世界。第

三，你可能会认为，创业精神是关于小企业和年轻的公司的，但是你将要听到是大规模的

创业精神。最后，全球性的，万达是一个非凡的集团。它是一家中国企业吗?当然是，但

它也是一个全球性的企业。那么，可以既本地化又全球性吗？我想答案显然是肯定可以的

So you’re about to hear directly from the Chairman, so let me say a few remarks to warm you

up a bit. When you think about Wanda, you think about superlatives: biggest, first, most,

quickest. But if you read the book, and I’ve had the pleasure to read the book, I think there’re

three to four themes that you’ll get out of it. First, success is great, but a lot of what this book is

about is determination and determination proceeds success. Second, while there’s a great deal

of entrepreneurialism here, there’s a combination of both discipline and flexibility. So as you are

listening to Chairman Wang, I think you’ll hear about both discipline, making sure things get

done, and flexibility, adapting to the world. Third, you might think that entrepreneurship is

about small firms and young firms, but what you’re going to hear about is entrepreneurship on

a large scale. And then finally, global, Wanda is an amazing firm, is it a Chinese firm, of course it

is, but it is also a global firm. So is it possible to be both local and global? I think the answer is

clearly yes.

我们马上将会听到更多，在此我想再次欢迎各位莅临赛德商学院。现在，让我们欢迎今天

的主持人，我的同事，牛津赛德商学院中国商业研究教授，埃里克·图恩。 非常感谢大家

We’ll hear a lot more, but I just wanted to again welcome you all to the School, at this point I’d

like to welcome my colleague, Eric Thun, Peter Moore’s Associate Professor of Chinese Business

Studies, who will be the moderator for the day. Thank you very much.

埃里克·图恩教授欢迎致辞

Introduction by Associate Professor Eric Thun

大家好, 我们非常高兴邀请王健林董事长到牛津大学赛德商学院。以下我将会用英语。这

是我的荣幸有机会介绍王董事长。我们在学校花了很多时间谈论创业，谈论领导力，我们

不能邀请到一个比王董事长更加能体现当前全球经济特征更好的商业领袖了。

(In Mandarin: Greetings to you all, we are delighted to have invited Chairman Wang Jianlin to

the University of Oxford Saïd Business School.) I will do the rest in English. It’s my honour to

have the opportunity to introduce Chairman Wang. We spend a lot of time at the School talking

about entrepreneurship, talking about leadership, and we couldn’t ask for a better business

leader that embodies these traits in the current global economy.

王董事长来自军人的背景。他的父亲曾是参加过长征的红军成员。他在15岁参加了解放

军。用了16年在军队努力晋升，到1986年再到大连市政府工作。如你所知当时在中国，

正经历着重大变化，而王董事长了解中国经济在未来将担当很重要的角色并会有伟大事情

发生，因此他希望能参与其中。在1988年，35岁的时候，他主动接手一家由于经营不善

面临破产的国有房地产公司，该公司就是万达集团的前身。万达集团在1992年成为首批

中国股份公司之一，然后持续在国内和全球进行拓展，然后，逐渐成为世界上最大的房地

产开发商。

Chairman Wang comes from a military background. His father was in the army, and took part in

the Long March. Chairman Wang joined the PLA at the age of 15. He spent 16 years climbing its

ranks before taking a job at the Municipal Government of Dalian in 1986. As you all know this

was a time of momentous change in China. Chairman Wang, he understood that the future was

in the Chinese economy and that great things were going to happen, and he wanted to be part

of this. So in 1988, at the age of 35, he volunteered to take over a state owned real estate

company that was on the verge of bankruptcy due to poor management, this company was the

predecessor to the Wanda Group. Wanda became one of the first shareholding companies in

China in 1992, and then proceeded with a process of relentless expansion, first nationally and

then globally, emerging as the world’s largest property developer.

最近，万达已经成为世界最大的中国文化企业和网络金融公司，它以惊人的速度进行全球

化活动。它在2012年收购了美国AMC院线，在2013年收购了英国圣汐游艇并在上个月收

购传奇娱乐电影制片公司。我们接下来的90分钟将会有非常多话题。请和我一起欢迎万

达集团董事长王健林先生。

More recently, Wanda has become the world’s largest cultural enterprise in China and the

largest internet finance company in China, it’s been globalizing at a fantastic rate. It purchased

the AMC movie chain in the US in 2012, Sunseeker Yachts in the UK in 2013, and the film studio

Legendary Entertainment last month. We have an awful lot to talk about in the next 90 minutes.

Please join me in welcoming Chairman Wang Jianlin.

王健林董事长演讲内容

Chairman Wang’s Speech

非常荣幸有机会在牛津大学公开课上谈万达国际化的体会，因为时间关系，我先做一个简

短演讲，剩下时间欢迎大家提问。我演讲的题目是《万达国际化》，讲四点：

I am very honored to have this opportunity to lecture about Wanda going global here at Oxford

University. Because of time constraints, I will make a brief speech first and questions are

welcome after. My subject is Going Global, the "Wanda" Way. I will talk about four main points:

一、 国际化理由

Point One-Reasons for Going Global

一是做大企业规模。有些产业要做大规模，必须国际投资，特别是在娱乐、体育这些行业，

国外市场比中国发达，这是万达国际化的重要原因。

First, to expand the size of the Wanda enterprise. International investment is required for

expansion in some industries, especially in industries such as entertainment and sports, where

the foreign market is more advanced than the Chinese one. This is a key reason why Wanda

wishes to expand overseas.

二是成为国际企业。2015 年有篇最牛辞职信红遍中国，一位教师在辞职信中说：“世界那

么大，我想去看看”。我想借用这句话来说万达，“世界这么大，我想去闯闯”。

Second, to become a global company. In 2015, a resignation letter caused a nationwide

sensation in China. A teacher wrote：“The world is so big. I’d like to check it out.” I’d like to

borrow this sentence to describe Wanda, “The world is so big. I’d like to go make the best of it.”

万达企业文化核心一直是 8 个字。88 年创立公司时，我提出企业文化核心是“老实做人，

精明做事”。那时中国刚改革开放，做生意骗子很多。我们就讲诚信，提倡“老实做人”；

同时还要“精明做事”，别人骗我一次是他的错，但骗我两次就是我的错。发展几年，企业

有了一定财富积累，企业文化核心又改成“共创财富，公益社会”，提倡大家共同创造财富，

同时对社会做贡献。2004 年，万达对企业文化做了一次全面提升，梳理总结万达的企业

目标、发展宗旨、经营原则等，提出“国际万达，百年企业”。当时知道“百年企业”是做长

久的企业，但“国际万达”究竟是什么还不太清楚，所以这个口号提出后，国际化并没有马

上实施，直到 2012 年万达才真正开始国际化，但这说明万达很早就有国际化志向。

The core of Wanda’s corporate culture has always been 8 words. When we first established the

company in 1988, I suggested using “Be an Honest Person; Work Smart” as the core of our

corporate culture. At that time China had just opened up, there were many frauds in the

business world. We honored honesty and integrity. We advocated “Be an Honest Person”. And

at the same time, we also believed in “Working Smart”. Cheated once, it’s the cheater’s fault.

Cheated twice, it’s your own fault. After a few years, the company had accumulated some

wealth. And we changed the core of our corporate culture to “Create Wealth Together; To

Benefit All Society”, as a call to everyone to create wealth together and contribute to society. In

2004, Wanda did a full revamp on its corporate culture development. We combed through our

corporate goals, development missions, and operating principles and put forward “International

Wanda; Centennial Enterprise”. We intended “Centennial Enterprise” to signify a long-lasting

company; however, we didn’t quite figure out what “International Wanda” would really indicate

yet. So we didn’t start on going global right after the slogan was created. We didn’t really start

going global until 2012. But this slogan shows that Wanda had such an intention right from the

outset.

说起万达国际化还有一个故事，好像是天意。万达最早的名字叫 “西岗开发公司”，主要

做房地产开发，92 年企业搞股份制改造，觉得这个名字太土，决定改一个名。当时搞了

一次企业名字有奖征集，花 2000 块钱在报纸上打了征名广告，大概两百人投稿，从中选

出十来个，一个个介绍他们起的名字和标识，大概是第 3、4 位入选者提出的方案被我们

采用。这就是现在的万达标识，深蓝色，由万达的拼音字母 WANDA 变形为海浪和航船。

为什么用蓝色呢？因为万达是海边诞生的企业。为什么外面要画一个圆圈呢？设计者说是

走向世界。我们觉得这个寓意好，就采用了，那时万达还没走遍中国呢。所以万达刚开始

就有志于成为国际企业，没有这种志向和目标是不可能走到今天这一步。

Speaking of Wanda’s globalization, there is also an anecdote. It’s as if it’s the Heaven’s will. At

first, Wanda was actually called Xigang Development Company, with the majority of its business

focused on real-estate development. In 1992, during the shareholding reform, we decided to

change our name, because we thought the old one was too tacky. We called for company name

proposals and promised rewards. We spent 2000 RMB and put up a name proposal

advertisement in the newspaper. About 200 people submitted proposals, from which we chose

about a dozen to have explained one by one. It was the 3rd or the 4th entrant whose proposal

was selected. It is the Wanda logo we use now. It’s dark blue and has Wanda’s pinyin letters

transformed into a wave and ship. Why blue? Because Wanda is company born by the sea. Why

a circle on the outside? The designer said it signified going global. We liked the implication and

adopted it. Then, Wanda hasn’t even expanded across China yet. So Wanda had global

ambitions from the beginning. Without this ambition and without this goal, Wanda wouldn’t

have come this far.

三是规避经营风险。有句俗话讲，不要把鸡蛋放在一个篮子里，企业跨国发展意味着减小

企业经营风险。一个国家发展得再好，经济也有调整时期，但全世界经济同时出现大调整、

大萧条，这种几率是极低的。而且中国政府也鼓励中国企业全球配置资源，利用全球市场。

所以从规避企业经营风险角度，我们也应该走全球化道路。

Third, to mitigate operating risks. There is a saying, “Don’t put all your eggs in one basket.”

Expanding into new markets means decreased operating risks. No matter how well a country’s

economy is developing, it will still have periods of economic adjustment; however, the chances

of a big global economic adjustment or a global Great Depression happening are very low. Also,

the Chinese government encourages Chinese companies to distribute resources globally and to

leverage the global market. So from a risk mitigation perspective, we expand globally.

二、国际化战略

Point Two-Globalization Strategy

1、并购为主

Focus on M&A.

万达海外投资以并购为主、投资为辅。为什么这么做？因为从英国工业革命到现在，世界

市场特别是一些主要市场领域，基本上都被先进入的企业瓜分了。如金融行业，不通过并

购，自己进去重新闯荡，虽不能说绝对没有机会，但也基本没有机会。现在万达搞体育产

业，各种国际品牌体育赛事所有权、转播权，基本都被老牌家族公司或跨国公司瓜分，我

们要进去，只能靠买。有人在中国媒体上说万达“就知道买买买”，我就问他，如果我不买，

你告诉我怎么办？

Wanda’s overseas investment is focused on M&A and supplemented with investment. Why do

it this way? Because from the industrial revolution till now, the world market, especially in

some principal sectors, have basically been carved up by companies that had entered the

market first. For example, the financial industry, I can’t say there is absolutely no chance but its

very difficult without M&A, Wanda is now operating in the sports industry. International

sporting event ownership and broadcasting rights have all basically been carved up by old

family-owned companies and multinationals. The only way in is through acquisition. Some

people on the Chinese media say that Wanda “only knows to buy, buy, and buy”. I’d like to ask

them, if I don’t buy, what other choice do I have?

2、 相互关联

Interconnection.

有些人讲中国企业是不买对的、只买贵的。但万达国际化重点在于买得对，什么叫买得对？

我们有两条标准，一是与万达现有产业有关联。万达国际化进入的产业都是万达已经在干

的，不管是不动产，还是文化、体育、旅游，都是万达现在正在从事的产业。这样做的好

处是我们有一定的知识积累和人才储备，了解行业是怎么回事。二是万达不管跨国并购还

是投资项目，都要求这些业务能移植到中国，能在中国获得更快发展。

Some people say that Chinese enterprises never buy the right thing. But only the expensive

thing But our overseas expansion focuses on buying the right thing. What is buying the right

thing? We look at two criteria. First, is it related to the company’s current business? All

industries Wanda has expanded globally in are industries they’ve already operating in, be it real

estate, culture, sports, or tourism. These are all industries Wanda is currently involved in. The

benefit of doing so is that we already have some knowledge accumulation and talent reserve in

these industries and we know what they are about. Second, for both the cross-border M&A and

investment projects,Wanda requires these businesses to be able to be transplanted into China

and have a faster development in China.

举一个体育公司并购例子，万达 2015 年并购了世界最大的铁人三项公司——美国 WTC，

并购公司不到半年，我们就把铁人三项比赛在中国厦门、合肥落地了。这项运动过去在中

国是一个盲区，我们推广后，大众才知道铁人三项到底是什么。目前中国在这方面运动人

数也少得可怜，13 亿多人口中只有 200 多人从事这项运动。我们在中国推广这项运动，

至少可以做到几十万人参与。因为中国正进入健康时代、全民跑步时代，拥有巨大的发展

空间。WTC 在国外很难做到快速增长，一般有百分之几的增长就不错了，只有在中国才

能获得更多增长点、更快增长速度。

Take a sports company’s M&A for example, in 2015, Wanda acquired the world’s largest

triathlon company—World Triathlon Corporation. Within six months of the acquisition, we

were able to secure triathlon events in the Chinese cities of Xiamen and Hefei. This sport was a

blind spot for China. Only after our promotion, did the public learn what exactly triathlon is.

Now, there are only a meager number of people practicing this sport in China. There are only

200 some people out of 1.3 billion strong, who are doing this sport. If we promote this sport in

China, we can get at least hundreds of thousands of people to participate in it. Because China is

entering an era of increased health awareness and the running trend has exploded, it has a

huge space for development. It is very difficult for WTC to expand quickly overseas. It is

remarkable, if it can even achieve single-digit percentage growth. Only in China can it gain more

growth points and a faster growth rate.

3、本土人才

Local talent

万达国际化强调使用本土人才。万达 2012 年并购美国 AMC 公司时，因为它是电影终端

渠道，美国政府对这种类型公司的并购有一定限制。我去找美国驻华大使骆家辉先生，请

他为我们写一封推荐信，向美国政府推荐。他首先就问，万达买 AMC，是不是准备把大

批中国电影卖到美国去？我说这不太可能，就算我想把中国电影卖到美国，也要看是不是

有那么多人来看，电影不好观众是用脚来投票的。然后他又问，万达是不是打算派中国人

到美国去管理？我说这不会，并购后公司管理层全走了，其实意味着并购失败。骆先生挺

高兴，给我们写了推荐信，再加上其它因素，最终万达并购 AMC 获得了美国政府批准。

Our expansion strategy emphasizes retaining local talent. When Wanda bought AMC back in

2012, because it is a cinema operator, the United States government placed certain restrictions

on the acquisition. I went to the then US Ambassador of China Gary Locke and asked him to

write a letter recommending us to the US government. He first asked, if Wanda bought AMC,

does that mean that we will sell a large amount of movies to the US market? I said this is

unlikely, even if I wanted to sell Chinese Film to the US, we would need audiences to accept

them first. If the movies were bad, the audiences wouldn’t agree. He then asked, Wanda is not

planning to send the Chinese teams to the United States to manage? I said no and said the

whole management of the company would leave after the merge. Mr. Luo was very pleased

and wrote the letter along with other factors, the result of the AMC acquisition received the US

government’s approval.

万达并购 AMC 后，只派了一个联络员。这就带来一个问题，我们并购的对象原来的股东

都是大型跨国企业，别人搞不好，万达来了凭什么就能搞好呢？我们发现,并购企业最好

的管理办法是留住原来的管理层，使之更好地工作。万达并购美国 AMC 已被哈佛大学商

学院作为教学案例，做这个案例的教授到我们公司调研，说了两句话，非常经典。首先，

一切都没变。还是 AMC 这家公司，名字没变，管理层没变，经营地点也没变；其次，一

切都变了，公司发生了深刻改变。不愧是搞研究的教授，总结得不错。

After the acquisition of Wanda and AMC, we only sent a liaison officer. This poses a problem,

we acquired a company who’s original shareholders are large multinational companies, then

what makes Wanda able to manage the company better? We found that the best way to

manage an acquired business is to keep the original management team, making it work better.

Wanda’s acquisition of AMC has been established as a case study at Harvard Business School. A

professor who wrote the case study visited our offices said two very classic things to us. First,

nothing has changed. It’s still AMC, the name has not changed, the management team has not

changed, location has not changed. Secondly he said everything changed, the company has

undergone profound changes. Indeed, the professor’s summed it up very accurately.

我说，过去中国企业那点管理学思想，基本都是从西方学来的，但我们在应用层面有自己

的优势。管理最基本的是“制度设计”，其中最核心的是调动人的积极性，而不是把制度设

计成对待管理层就像防贼。当然前提是因为万达并购后使 AMC 有了真正的主人。之前持

有 AMC 的摩根斯坦利、凯雷、黑石等在美国也都是赫赫有名的优秀企业，但是几家公司

共同持股，股份都差不多，谁也做不了主，现在万达说了算。万达并购 AMC 时，全球金

融危机影响还在，工作岗位不像现在这么稳定，我们就跟管理层签订五年工作合同，而且

规定，对于超出经营目标的利润，管理层和万达一九分成，一下就把他们的积极性调动起

来，使公司一年就发生变化，第二年就实现上市。

I said, in the past, the management style of Chinese enterprises was learned mostly from the

West, but we have our own advantages in the application level. The most basic is "policy

design", the core of which is to motivate people, rather than designed as a hellish micro-

management system. Of course, the premise is that AMC now has an owner that can make

decisions. Prior to this, it was owned by companies such as Morgan Stanley, Carlyle and

Blackstone all well-known giants in America. But because their shareholdings were all similar,

there is no main decision maker. Wanda now has the final say in the decision making process.

When Wanda acquired AMC, the global financial crisis still persisted and jobs were unstable. So,

we signed 5 year contracts with the company’s senior management team, and agreed that any

excess profits would be shared one to nine with the team and Wanda. This mobilized

everyone’s enthusiasm and the company made huge changes in one year. The second year it

went public.

从中我也悟出一条，到世界上任何一个国家去并购和投资，都是要尽可能留住原来的管理

团队，使用本土人才，想办法调动他们的积极性，不要想着走哪都派中国人过去。

From this, I’ve also realized one point, if you acquire or invest in any country in the world, you

have to keep local talent and retain the original management team, and find ways to motivate

them. Don’t think you can send Chinese teams wherever you expand.

三、国际化进展

Point Three- International development

万达已经成为中国企业、特别是民营企业国际化的代表，从 2012 年到现在三年多时间，

在全球十多个国家投资，投资额超过 150 亿美元，其中在美国一个国家就投了 100 亿美

元，所以我在美国是很受欢迎的。

Wanda has become an ambassador for not only China’s private companies, but especially as an

overseas ambassador for China’s private companies. From 2012 to now, within the space of

three years, in more than a dozen countries, we’ve invested over 15 billion US dollars of which

$10 billion was invested in the United States. Thus, we are warmly welcomed in the United

States.

万达 2012 年并购 AMC 时，我承诺十年之内至少在美国投资 100 亿美元，第二天一家美

国媒体刊登了一篇文章，标题是“王先生，希望你遵守承诺”。我的话说完三年，2015 年

万达已在美投了 100 亿美元。我让我的助手去跟他们说，希望再登一篇文章，“王先生提

前兑现承诺”。万达已经在英国投资 12 亿英镑，有 2600 多名员工。昨天在《万达哲学》

英文版全球发布仪式上，我们和英国政府还洽谈了一个大的投资项目，希望能尽快落实。

When Wanda acquired AMC in 2012, I said I’d invest $10 billion in the US within a decade. The

next day a US journalist published a story, with the title "Mr. Wang, I hope you keep your

promise." Three years later, in 2015, Wanda already invested $10 billion in the United States. I

asked my assistant to tell the journalist to write a follow up article titled “Mr. Wang keeps his

promise”. Wanda invested 1.2 billion pounds in the UK with more than 2600 employees.

Yesterday at the global launch of ‘The Wanda Way’, we also discussed a big investment project

with the British government, which we hope to launch as soon as possible.

万达国际化虽然时间不长，但步伐蛮猛，而且进展比较顺利，但是我已从辩证法角度来看

待万达跨国发展：没有失败就意味着离失败越近，万达在今后的国际化进程中不排除摔跟

头，但是我们有一个原则，只要不发生颠覆性风险，就要去做这件事。其实勇敢迈出这一

步才觉得，国际化也没什么了不起。

Although Wanda’s international expansion hasn’t been going on for long, we’ve grown

aggressively and made steady progress. But from a dialectic perspective I view our overseas

expansion as follows: If we hadn’t yet failed, then we’d surely be closer to failure. Wanda

doesn’t rule out the possibility of failing, but we have a belief that as long as subversive risk

doesn’t occur, we should be able to do it. In fact, once you make that first big step, the thought

of going global isn’t so daunting.

四、国际化目标

Point Four- Objectives of Going Global

一是海外收入大幅增长。万达在去年提出未来五年新的战略目标，即到 2020 年实现“2211”

目标，就是到 2020 年，企业资产超过 2000 亿美元，企业市值超过 2000 亿美元，收入超

过 1000 亿美元，净利润超过 100 亿美元，其中 30%以上收入来自海外。

First, we look at the substantial growth in overseas earnings. Last year, Wanda unveiled

strategic targets for the next five years, which entails achieving “2211” by 2020. The goal is that

by 2020 we will have more than 200 billion US dollars in assets, a market value of over 200

billion US dollars, revenues of more than 100 billion US dollars, net profit exceeded $10 billion,

with 30% of our overall revenue coming from overseas.

衡量一家企业是不是跨国企业，一项核心指标是海外收入有没有超过 30%。有国际业务的

企业，一种是在本国生产产品，然后卖到世界各地，这只能算产品国际化；一种是在一两

个国家有投资，但是占全部业务比重小，管理方式、人才结构以及企业文化都没达到跨国

企业水平。所以，真正的跨国企业不仅要求企业规模足够大，至少数百亿美元，而且企业

收入至少 30%来自海外。今年万达海外收入将达到 100 亿美元左右，距离 2020 年目标还

有不小差距，还需要持续努力才能实现。

In order to measure if an enterprise is a multinational enterprise, the core indicator is that

overseas revenues exceed 30%. One type of international company manufactures products in

their home country and sells these products overseas, making their products international.

Another type has one to two investments in different countries, but this only accounts for a

small percentage of its overall business and this company's management style, management

structure and corporate culture can't really be considered multinational level. Therefore, a real

multinational company not only needs to be big. It needs assets in the tens of billions of US

dollars, and at least 30% of its revenue needs to come from overseas. Wanda's overseas

revenue will reach the $10 billion mark this year, which means we've got a lot of work to do if

we want to reach our goals in 2020.

二是成为一流跨国企业。万达不仅要成为一流企业，而且加了一个限制词，要成为一流的

跨国企业。万达如果实现“2211”目标，企业资产、收入、净利润排名，一定能排在世界前

几十名。这个目标也在激励我们公司，也激励我个人持续努力。

Secondly, we look at becoming a leading multinational organization. We not only want to

become a leading company, but most importantly want to become a leading multinational

organization. If Wanda can achieve its "2211" targets, then it will rank among the top

companies in terms of assets, revenues and net profits. This goal is inspiring my company and

inspiring me.

有人形容我是中国最成功的企业家，很多人问我为什么成功，我讲了很多原因，其实最核

心的一点是勤奋。所谓天道酬勤，如果不勤奋，所有的条件都不可能变为现实。正因为万

达有远大的企业愿景，所以现在还持续保持着快速增长。2015 年实现收入、资产、利润

同比 2014 年增长 20%。大家觉得增长速度很快，但对万达来讲，这是多年来增速第一次

掉到 30%以下。在此之前，我们每一年都保持 30%以上的增长，随着全球经济的重大调整，

中国经济的持续放缓，我们的发展速度也降了一点，但依然保持较快速度增长，这也是万

达最终成为一流跨国企业的保证。

Some people say I'm China's most successful businessman and a lot of people ask how I've

managed to achieve this success, which I reply is due to a lot of reasons, but the key reason is

hard work. If you don't work hard, it's impossible to turn all conditions into reality. Because

Wanda has a long term vision, we’re still able to continue growing fast. Our 2015 revenue,

assets and net profit all grew by 20% compared to 2014. This seems like a very fast growth rate,

but for Wanda, this is the first time in many years that the growth rate is below 30%. Before

this, we grew at over 30% every year. In the midst of a major restructuring in the world

economy and a slowing Chinese economy, our growth speed has dipped a bit, we've still

managed to grow relatively quick which is a guarantee that Wanda will ultimately become a

leading international company.

谢谢大家！

Thank you all!

现场问答环节

Q&A Session

主持人：一个跨国企业需要很好的沟通，同时也需要各地管理人员的自治。万达既要保

证系统内各公司沟通顺畅，又要确保他们有自主权利，是否在这方面遇到过问题？

Professor: A multinational firm needs connectivity, but also autonomy for local managers. Is

there a tension between trying to pull together connectivity within Wanda companies while

also giving them autonomy?

王健林：现在我们公司有很多老员工，跟着公司一步步锻炼起来，现在随着企业国际化，

业务转移，英语短板就显出来了，现在万达的旅游公司、体育公司、娱乐公司，这些公司

的业务大部分都要跟外国人打交道。所以很多人很优秀，就是英语这一块是短板。

Wang: English is our greatest challenge! We have a lot of senior employees in Wanda. However,

when going global, in tourism, sports and entertainment, inadequacy in English language is a

huge challenge. Though these people are good, they cannot be put to good use because of their

lack of English language skills.

现在我们招人就是两条，第一条中国人英语好的就排在前面，第二条是中文说的好的老外

优先。在万达经常能碰到老外，但是一张嘴普通话比我们中国一些人说得还好。任何企业

管理都找不到标准答案，都要靠自己去摸索，这就是我的回答。

When we recruit locally, we give preference to Chinese who speak good English and foreigners

who speak good Chinese. We receive a lot of expats in China, but they can speak good Chinese,

so the language barrier is mitigated. There is no standard answer, and we need to explore by

ourselves.

主持人：许多向海外扩张的中国企业都是国企，但他们的国际化尚未成功。下面是来自

金融时报 James Kynge 的提问：这些企业国际化是否出于非商业的动机？所以也部分地导

致其投资出现问题？

Many companies expanding overseas from China are state-owned companies, and they have

not been successful. One of the questions from James Kynge, the Financial Times, is the one

of the reasons are these from motivated from non-commercial motivations and this is part of

the problems with their investments?

王健林：我首先做一个说明，国际化私营企业可以做得很好，国有企业也有做得好的，

但是总体上私营企业比国有企业做得好。原因是私营企业的老板可以做的时间长一点，国

有企业的老板很难制定长远目标，在任时间也就两三年，长一点可能就换人了，这是一个

问题。除了领导任职时间长短的问题，国有企业还有不适应国际化的制度设计，审批流程

太长太慢等问题。

Wang: When Going Global, any type of enterprise can do well and it is irrelevant whether they

are private or state-owned, but in general, private companies are doing better. The difference is

that the bosses of State-owned enterprises are unable to set long term goals because their

position will be replaced in two or three years. Moreover, state-owned enterprises do not have

international standards for their management systems, and have long cycles for their approval

process.

现在万达正在泰晤士河边建一个最高的建筑，里面有伦敦最高端的酒店。这个项目可以说

是我们白赚了一个酒店，当时万达负责海外发展的老总正好到这边出差，碰上一个银行要

拍卖这个不良资产，对方要求一个星期内交钱，要不就上市拍卖，公开拍卖的话价格肯定

会贵很多。当时他给我打电话，我以为听错了，我说你再确认一下，他说每平米 900 英

镑，我说是不是听错了？我做房地产这么多年，我说每平米 9000 英镑的话似乎还比较合

理。后来他确认了以后跟我说确实是每平米 900 英镑这个价格，我说你马上签协议，三

天把定金付了，但如果是国有企业很难做这种决策。

Let me give you an example: Wanda is planning to build the highest building along the River

Thames in London, an included in the project development is a high end hotel. This is an

auction asset and one of our senior general managers came across this opportunity on his trip

to the UK. We faced with the choice of one week completion or the asset would go to auction,

when the price would be much higher. So the GM calls me and we calculated the price – it

came to £900 per square meter. It’s surprisingly cheap. I made the quick decision to go for it,

signed the agreement and paid the case in three days. In similar situation, it would have been

very difficult for a state-owned enterprise to make that swift decision.

主持人：上个月您刚收购了传奇影业。当您提到万达在地产业竞争力的时候，您提到执

行力。您自己也是非常有执行力的。那么在文化产业，是否也将非常强调执行力呢？

Last month you bought a film studio in California. When you talk about the competitive

advantage of Wanda in real estate you talk about execution. You remain disciplined. Does

this advantage translate easily into the cultural industry?

王健林：不仅是搞地产的企业需要执行，所有企业都需要执行。美国著名的企业管理大

师、GE 前 CEO 杰克·韦尔奇，就曾经说过，最伟大的是执行。做企业管理来讲，可以有多

种多样的策略、多种多样的战略，但他认为最伟大的是执行，我非常赞成这句话。所以我

们从电影产业开始，到体育产业、娱乐产业，年初一定要有计划，而且计划要分得非常细，

资金计划、现金流计划，一定要细化到每一周。我们有一个模块化系统，里面是计划工作

模块，一项工作会细分成无数个节点，只要有一个节点没有完成，模块化系统就变成黄灯，

如果连续出现两个黄灯，系统就变成红灯，就会有响应的处罚。有人说搞文化产业，应该

是穿着拖鞋、穿着 T 恤衫，特别是说穿西装打领带不适合娱乐业。现在有一句话很流行，

“我不相信伟大的思想会被西装束缚”，真正的伟大思想在脑袋上，跟领带有什么关系？

Wang: Execution is the only way to development. All companies need to perform. I remember

that Jack Welch, a famous US management guru and former CEO of GE, who once remarked

that execution is the key to a company’s success, and I fully endorse the idea. For all industries,

execution is critical. In Wanda, we develop a plan for each of our business units across cinema,

entertainment, sports, and properties at the beginning of each year. The plan is very detailed,

with capital allocation, cashflow, and so on, broken down to weekly level. Then we incorporate

an innovative system to track respective metrics on a daily, weekly, and monthly basis. If the

metric is not delivered, it goes from green to yellow, and if there are two yellow lights it turns

red and we have to respond. We replicate this model from real estate to other areas of the

company. Some say that you need to wear t-shirts and slippers to work in the cultural

entertainment industry, but I say that the ideas are up in the head, and it has no bearing on

what you wear.

我是特别强调执行的一个人，所以万达现在创造了全世界唯一的商业案例——每一年要开

业几十个大型的商业中心，还有十几、二十个酒店，还有其他若干个项目，包括我们自己

开设店，包括搞娱乐产业，搞旅游产业，都是说哪一天就是哪一天开业。看起来很简单，

实际上是很难做到的。所以我对执行的理解是，它是所有企业、所有行业都应该强调的核

心竞争力。如果有人认为搞娱乐产业，搞互联网产业就可以不强调执行力，那这个人管理

学的基本知识不全面。

I am a great believer of execution, and that’s why Wanda has created the world’s only business

case in opening dozens of mega commercial centers, 10-20 hotels as well as other projects in

the entertainment industry and tourism, and are able to open them on the very day that we

intended. It looks easy but in reality it is very hard to do.

听众提问：万达向管理人员提供 10%利润的激励制度给我留下深刻印象。我在英国有五

家酒店，但我负担不起用 10%的利润去激励管理人员。请问这种激励制度是如何在酒店

行业运作的？

Audience question: You have a policy of offering incentives of 10% profits to managers. But

how does it work in the hotel industry? I can’t afford that myself. How do you do it?

王健林：万达有多少酒店？在中国开业的五星级酒店接近 100 家，现在海外已经有 7 家。

我们在中国管理的酒店分两部分，一部分是万达自营酒店，就是我们自己成立的酒店管理

公司管理，还有 1/3 是委托几大酒店管理集团来运营，大概接近 20 个，大家耳熟能详的

全球酒店管理集团。

Wang: Wanda has close to 100 five-star Wanda hotels in China and seven five-star hotels under

construction overseas. There are two models in managing our hotel in China, one is self-

managed by Wanda and other is managed by third party, the latter of which includes

collaboration with 20 international hotel management firms.

企业管理顺的时候，经济顺的时候还真看不出来，中国一出“八项规定”以后，差异就显现

出来了，外部管理的酒店全部都不能完成经营目标，万达自己管理的酒店全部完成经营目

标。物质的精是核心竞争力的一步，最核心的是靠万达自己的模块化管理软件，我们会把

每一天的收入、成本细化到集团总部每一周的报表中，我们要求各公司细化到每一天，每

一天知道收入、支出、利润，到半年完不成目标的，再想完成就来不及了。我们管理酒店

行业也是这个道理，就是要把所有的目标分解到每一天、每一周，这样去管理酒店。单靠

奖励和刺激，利润就没上来，你靠什么刺激？所以我觉得酒店管理跟所有的企业管理都一

样，酒店管理无非是稍微难一点，因为它算是一个最大的奢侈品牌，涉及领域多一点，有

搞娱乐的、餐饮的、客房的，服务门类多一点，但是管理的道理是一样的，这是我管理酒

店的心得。

When the business environment is favorable you can’t see the problems in front of you. Only

when the economy slows down, then you can note the marked difference in performance. The

hotels managed by ourselves always met their targets while it was not always the case for those

managed by international hotel management firms. Our core competence is in our

management and execution capabilities. We have daily reports on revenue, expenses, and

profits that we submit to our headquarters which allows management to spot any potential

risks and issues that may affect the achievement of our pre-set targets. Our targets break down

to a daily and weekly basis, so again execution is the key and cannot solely rely on incentives.

Hotel management is a very sophisticated industry with many moving parts. It is high end, but

in practice it is the same.

听众提问：健林主席您好，我来自一家英国企业集团，最近几年在海外并购方面，万达

发展的非常迅猛。去年秋天，习近平主席访英之后，中英两国进入了“黄金年代”。万达

有没有考虑，和英国优秀的企业建立一种战略合作关系，进军除了中国和英国以外，世

界上其它国家的新兴市场？谢谢。

Audience question: Last Fall after Xi Jinping’s visit to the UK, he remarked that China and the

UK had entered a “golden age”. Has Wanda considered entering into strategic cooperation

with outstanding businesses in the UK, or possibly in emerging markets?

王健林：你给我提出了一个新的课题，我要先把万达自己的国际化搞好。去年我跟英国

贸易署开了一个会议，想介绍一批愿意到中国发展的企业，到中国市场去发展，因为万达

有平台。万达是一个平台提供商，万达广场、万达度假区并不是我们自己经营的，我们只

是管理，自己经营很少一部分，如果你们愿意到中国去发展，我愿意提供平台，不管是搞

服装业、餐饮业、化妆品业都可以。

Wang: Thanks for bringing me a new vision. Well, I want to ensure Wanda a successful

globalization first. Last year I met with the UK Trade and Investment board and proposed that

they use Wanda’s platform in China to develop Chinese enterprises. Wanda provides platforms.

If you want to make a venture in China, I’d be happy to offer you a good platform. No matter

it’s about garment, or catering, or cosmetics.

一个是我自己投资，第二个是我把英国的企业带到中国去。现在你提出第三个课题，希望

我们跟英国企业合作开拓全世界市场，这是一个非常伟大的设想，我希望我能落实你提出

的目标。

First, I would invest my own money, and second, I would be bringing business to China. You

have provided me with the third reason, which is to work with the UK to develop businesses

across global markets. I hope I can implement your suggestions.

听众提问：您在万达的个人努力和勤奋背后的源动力是什么?是个人的理想，对财富的追

求还是出于社会责任？

Audience question: Student here. Why do you pursue your fortune? Is it for wealth, or

perhaps a sense of social responsibility?

王健林：分阶段。初期激励我不断奋斗的目标很简单，就是让自己活得更好一些。所以

我刚去公司的时候和员工说，做到一个亿我就退休。没想到很快这个愿望就实现了，于是

我就将目标定在将公司打造成为一个知名企业。人生的坐标就有所修正。

Wang: I am driven to pursue a bigger, better life. I told my staff that once we had revenues of

RMB100 million then we retire! Of course we didn’t, we just readjusted our goals.

对于万达来说，最重要的一步是 1993 年走出大连，从一个地方企业到全中国发展。中国

的国土面积是欧洲的两倍都不止，所以第二个阶段激励我的是要成为一个知名企业的目标。

最近几年我的愿景更加宏远，希望将万达做成全球知名品牌、一流的跨国企业。我们内部

给自己定了目标，这个目标还在激励我。

Next it was important that we step out nationwide. China is more than twice the size of Europe,

so we then targeted to be a famous brand. So for many years the force driving me was

increasingly ambitious. Over the years we wanted to make ourselves a leading global enterprise,

and we have not yet achieved that goal.

也许 2020 年或者 2019 年实现这个目标的时候，我有可能退休，也有可能给自己制定新

的目标。几年前万达文化收入才 100 多亿，我说做 1000 亿一定退休。但随着中国国家经

济的快速发展，我当初提的这个目标又四五年就完成了，我就在想现在退休是不是太早了？

因此又重新提出了现在“2211”的目标，达成这个目标之后我可能就真的退休。但并不是完

全退，是“退而不休”，我要以自己名字命名搞一个最大的慈善基金，可能就去做其他事情

去。

Maybe by 2020, and then I’ll either retire or readjust my targets. I told someone that I’d really

retire after $10 billion, but we achieved that quickly thanks to the Chinese economy. It was too

easy to achieve that. I thought, is it too early for me to retire? So then I reset the target. If we

become a world class enterprise and earn $100 billion, I’d probably retire from business but

that does not mean I would stop working. I’ll set up a charitable fund after that for different

things.

人生的坐标是分阶段的，这比较现实。在人生过程中不断调整、修正自己的坐标体系，提

出现实的、能达成的目标，达成了再修正的目标，不是一蹴而就的。

To summarize, I have different targets to stimulate myself in different phases. I think we should

readjust goals along the way and set realistic targets to make them happen, step by step.

提问：我是留英学子。王总，您这么繁忙，平时有没有什么方式给自己预留出一些完全

属于自己的时间？还是说工作本身就可以是一切，这样没关系？

Audience question: you are a very busy man. Do you reserve your personal time for

something, or does work mean everything to you?

王健林：工作不是一切，但工作是最主要的。我想给自己预留时间，但是做不到啊。为

什么呢？我想休息，但是公司会不停给我打电话。说实话我现在不是具体做事务，差不多

有 4 到 5 年没有过问具体事务，就是老给我安排会见人。说要给面子，你会见了，我们

就好工作了。好，我就会见。那现在国际化了，要见的老外也挺多。见不见呢，老外你也

得给面子。所以我现在主要的任务就是会见，吃饭。想休息也很困难。

Wang：Work isn’t everything, but it is the most important thing. I want to have some time to

myself but I can’t. I want to rest but people keep calling me all the time! For 4-5 years I haven’t

been in involved in day to day operations but people still arrange for me to meet a lot of people.

Now that we are an international company, a lot of foreigners would like to meet me and I

attend those meetings as well. With lots of meetings and dinners, it is hard to rest.

听众提问：王先生您好，我是牛津的学生。我有个关于企业并购方面的问题想咨询您。

在全球经济都不太好的情况下，企业的估值就会比较低，那可能在扫货的时候就会比较

便宜，但前景或许就不是那么的美好。作为一家上市公司来说，可能一开始公司财报就

会受拖累，这方面万达怎么去平衡便宜的估值和不太好的预期呢？

Audience question: I would like to ask about acquisitions. The global economy is tough right

now, and listed companies are finding it hard to value themselves effectively. How do you

balance cheap valuations and unsure business prospects from listed companies with Wanda’s

M&A strategy?

王健林：其实任何时候都是并购的好时候，任何时候都是做生意的好时候，没有说哪个

时候最好。就像法国一位著名的作家说的，现在是最好的时代，也可能是最坏的时代。意

思是一样的。你说哪个时候是便宜的，哪个时候是贵的呢？你如果只看两三年，那是会有

这种可能性；如果你把这个事业看成是长寿的，看 10 年这个周期，就无所谓哪个时候买

哪个时候不买了。你说现在估值低，你买了，那将来的估值也不必然会高的。并购最重要

的是选准企业，选对方向。并购这个企业是否能给自己的企业起到进一步支撑的作用，把

你的业务范围做大，或者是你原来相对不关联的行业关联起来，能够相互依托，更强大。

这是我们最需要思考的。估值，买的便宜点还是贵一点，这是投行人的心态，不是企业家

心态。

Wang: Any time is a good time for M&A. As Charles Dickens said, “It was the best of times, it

was the worst of times.” It’s the same thing. It is hard to determine when is inexpensive and

when is expensive. It may be the case if you look at your investment on a 2-3 year timespan,

but if you take a long term view, say 10 years, then it really does not matter. The most

important thing for acquisition is selecting the right business that fits your business direction. It

can help your business to expand, or it can connect you to an industry that you weren’t

previously in. This is truly the most important point. Valuation is for investors, not for

entrepreneurs.

主持人：很多人都很关心万达在英国的战略是什么？这里值得投资的是什么？如果英国

退出欧盟，它的投资吸引力会降低吗？

Professor: One question which a lot of people were interested in was the strategy for Wanda

in the UK. Where are the good investments here? If the UK leaves the EU will it be less

attractive as an investment?

王健林：我的判断是基于我们的推断，也可能我的判断不对。首先从历史上看，英国在

欧洲从来没有独立。第二，现在经济全球化，英国很难独善其身。离开欧洲可以活得更好？

现在很难说，不要说退出就更好，有可能退出更坏。第三点更重要，退出来容易，再想进

去就难了。英国脱离欧盟，弊肯定是大于利的，当然这是我自己的判断，这不是政治家的

判断。

Wang: Two questions there. I’ll answer the EU one first. This is just my opinion, I could be

wrong. But I think the UK won’t leave the EU. Historically, the UK was always part of Europe.

There’s a historic and cultural connection, and in a globalized economy the UK can’t go it alone.

It’s hard to say whether they would have a better life outside of it. The most important thing is

that it’s easy to exit but hard to rejoin. There are certainly many disadvantages if Britain exited

the EU, but of course this is my own opinion. I’m not a politician.

至于万达对英国的定位，我把美国和英国看成世界上最重要的两个国家。为什么在美国投

100 亿美元？因为美国地大，人多。市场大所以投入大，这是最简单的道理。英国虽然人

口没那么多，市场没那么大，但是英国是世界上市场自由度最高的国度。美国也号称自由

国家，但是对于企业的投资，商务部、投资委员会都要审批，还有一条，50 年内可以随

时取缔你的组织，其它国家的规定更多。英国是自由度最高的，而且英国的法治等各方面

都非常自由，服务行业的细致程度也令人赞叹。万达非常愿意把英国作为整个欧洲的中心

看待。

As for the Wanda UK strategy: I think the UK and the US are equally important countries. I

invested $10 billion in the US because they’re a big market, but the UK is the freest market in

the world. The US claims to be a free country, but for investing there are many complicated

approval processes. They can easily take back your license after 50 years. However, the UK has

a very sound legal system and a very impressive service industry, which makes them very

attractive for us. We hope to establish our office in the UK as business center for Europe.

一旦这个项目落地，我们可能考虑把整个欧洲的总部放在英国。我们这里的酒店开业可能

会增加 3 千个就业岗位。我们正在谈一个项目，整个项目能提供 1 万个就业岗位，包括

娱乐业等综合项目。这可以看出我们对英国的重视。

Once this project is confirmed, we may consider to have our EU headquarters here in the UK.

Our hotels can add up to 3,000 new jobs, and we are in discussions right now to add an

additional 10,000 jobs in the UK, including other entertainment projects. I think this adequately

reflects the importance of the UK to Wanda.

另外，我的小孩也曾在英国（上学）。

Moreover, my child studied in the UK.

主持人：现在对于中国的担忧很多。您觉得目前中国面临的最大的风险是什么？需要什

么样的改革举措来推进经济前行呢？

Professor: There is a great deal of worry about China right now. What are the biggest risks

facing China, and what reforms are needed to keep the economy moving?

王健林：现在中国面临的最大的挑战是经济结构转型，因为中国的经济靠三个方面支撑，

过去占比最大的是投资，第二是出口，第三才是消费。但是现在出口没有以前那么顺利，

整个全球经济，包括欧洲到现在也不是太好，出口没那么好了。至于投资，现在能投的地

方都投得差不多了，再找新的投资机会，得到很好回报的机会也不多了。

Wang: The biggest challenge facing China is the structural transformation of our economy.. The

Chinese economy has 3 major drivers: investment, export and consumption. Exports are not

faring as well as they used to, partly due to a struggling global economy, including Europe. As

for investment, investment opportunities with good returns are getting fewer.

现在不管是主动还是被动，经济必须进行结构转型。在经济结构转型的过程中，发展会放

缓，严重一点可能造成就业困难。所以对中国来讲，最大的挑战就是产业结构的转型，而

且转型是必须要做的，不得不做的，即便不愿意做都必须做的。在被动的情况下转型会困

难很多，所以现在经济增长呈现持续放缓的趋势。

Whether it is active or passive, the Chinese economy has to go through a structural

transformation. During this transformation process, development is bound to slow down and

employment may become a serious issue. For China, this is a necessary process we have to go

through, which is why we’re seeing economic growth softening.

但是，在经济结构调整当中也有好的机会。中国老祖宗发明的汉语言是非常精准的，“危

机”，出现危机，并不只是出现危险，有“危”也有“机”。这是辩证法，老子的辩证思想。

这是一个很好的词汇。

But there are also many opportunities to be found through such a transformation. My

ancestors, when they were inventing the Chinese language, hit upon a very accurate word: weiji

(crisis). A crisis isn’t just dangerous, it is made up of two characters: “wei”, risks, and “ji”,

opportunity. Crisis also offers opportunities. This is beautiful dialectic, from Laozi.

我举个例子，比如工业制造业，出口有困难，但是服务业、娱乐业、旅游业取得巨大发展，

去年中国出口旅游增长 20%，在海外花了好多钱，上万亿，可能还不止这个数字。所以对

于中国转型，只要找准了方向，针对内需，特别是在内需当中的娱乐产业、体育产业、旅

游产业，机会是比较大的。

Take me, for example. I am struggling in manufacturing and exports, but I am making incredible

strides in services, entertainment, and tourism. Last year outbound tourism in China grew 20%

and spent trillions overseas. So as long as you identify the direction in which the country is

going , you target domestic demand, particularly in entertainment, sports, and tourism, the

opportunities will abound.

主持人：在过去的 30 年里，乐意尝试新兴事物的中国官员进行了很多的创新。但我听到

不少人也说，中国的反腐使得官员们担心，不敢大举创新了。我们现在需要大胆创新，

重新开始吗？

Professor: Over the past 30 years, a lot of innovation has come from local Chinese officials

who are willing to try new things. I have heard a lot of people say that the anti-corruption

drive is agreed upon, but many local officials are afraid to innovate. Do we need bold reform

now to get things started again?

王健林：这两者没有关联。我觉得应该讲创新，不应该是创业，叫创新更好一点，其实

不发展可能更有问题。现在中国经济出现增长放缓，或者说地方官员有一些不作为的现象，

制度的根源在于制度设计上还有缺陷，调动积极性的部分和反腐败结合方面，还需要再进

行进一步的深化。但是不能认为因为反腐败，官员就不作为了，他就不干活了，这个说法

不对。现在，至少对我们搞企业的人来说，减少了很多麻烦，特别是对于私营企业，可能

国有企业没有这个感觉，我们私营企业觉得很好，省去很多麻烦，“吃拿卡要”省多了。

Wang: These two factors aren’t related. I feel I should say that innovation is not necessarily

linked to just startups, innovation is better. Staying put without progress may cause a bigger

problem. China’s economy has indeed slowed down, and some say that local officials do not see

it that way. The root cause of the problem lies in the design of the system. We have to mobilize

enthusiasm for the anti-corruption campaign and we need to deepen its efforts. But I cannot

believe that it is because of the campaign that local officials do not work. For those of us who

build businesses, there is much less trouble now than there was before, particularly for private

enterprises.

听众提问：80 年代到 90 年代中期，中国涌现了很多优秀的企业家，成为英雄式的人物。

但从 2010 年甚至 2020 年之后，我们中国的政治环境以及经济体系都有很大改变，这个

时候如果我们年轻人想创业的话，跟当初您所处的环境和条件是完全不一样的。请问您

对我们有什么建议或指引呢？

Audience question: In the 80s and 90s, many entrepreneurs in China were regarded as heroes,

but now the economic situation changed so much that it has impacted the ability of people to

truly innovate. How can we start companies in this difficult time?

王健林：谈不上指引，只能说是建议吧。其实现在的创业环境，比我们那个时候要好多

了。我创业注册资金大概 50 万人民币，都是借的别人的，你知道利息有多高吗？25%的

年息，五年还本，每年付息。但那个年代，如果这笔钱借不到，就无法注册；而现在支持

创业的基金非常多，万达以及我自己和别人合作的基金，有个“青年创业计划”，每年支持

100 个人，并配有评估。关键是你怎样找到资金，最重要是要做好一份能吸引资金的商业

计划书，你的计划要可行。脚踏实地，不一定非要是科技产业，传统产业也会大有作为。

我支持你们创业。

Wang: I can only give my advice. Actually, startups have it easier now than they had it before. If

I took RMB500,000 in registered capital I’d have had to borrow someone else’s money. Do you

know how much interest there would have been? 25% per year, to be paid within five years.

But if you were unable to get a loan you were unable to register your company. Nowadays

there are lots of startup funds available. We and other people have set up a fund called the

“youth entrepreneurship program” which can support around 100 people a year. The key is to

know how to attract financing. Most importantly, you need a viable business plan. You don’t

have to start a hi-tech business. Traditional businesses still have the advantage of being long

term and reliable. I am in full support of entrepreneurship.

听众提问：王总，您好！谢谢您今天在这边给我们的讲话，我觉得真是听您一席话，胜

读十年书。我本来想问一些宏观的问题，在刚才的问答环节中得到了答案。我相信我问

的问题能代表在场的各位。您刚才说万达在美国有 18000 名员工，在英国有 2600 名员工，

您在英国马上要开一个可以招 1 万名员工的项目，我们在场的人有什么能为万达效力的？

作为英语很好的华人，我们很荣幸成为万达全球领先的中国企业，贡献我们绵薄的力量。

Audience question: Hello Mr Wang. Thank you for being with us today, it feels like I have

gained a decade of experience listening to you here. I wanted to ask a macroeconomic

question, but they have already been answered. I believe my other question will be on behalf

of everyone in the audience. You mentioned that Wanda employs 18,000 people in the US

and 2600 people in the UK, and you’re about to open up another project here which will

provide a further 10,000 jobs. How can we in this hall contribute to Wanda? We are overseas

Chinese with good English, and we would be honoured to be a part of the leading global

Chinese company.

王健林：你是愿意到中国去服务，还是在英国服务？

Wang: Tell me, would you prefer to serve in China or the UK?

Questioner: I am leaning towards the UK.

提问者：比较倾向于在英国。

王健林：我刚才讲的，我们正在探讨这个大项目能否在英国落地。其实这个项目我们两

年多前就已经提出来了，由于种种原因，现在英国走在后面了。这个星期我有两天会到另

外一个国家去，争取一个大项目落地，很遗憾英国没有成为这个大项目的落地首选国，本

来英国可以，但是我们不是第一，我们可以成为更好的。这个项目哪怕成为第二、第三，

如果一两年内能落地，起码能解决超过 1 万人的就业。你英语讲那么好，肯定优先录取

你，别以为我忽悠你，我们有直播。在牛津大学提问过的谁谁谁，我一定录取你了。

Wang: As I just said, we are currently exploring whether or not this large project can make its

way into the UK. This was actually proposed a couple of years ago, but for various reasons it has

fallen behind. I have a couple of days this week to head to another country for a big project,

and it is a shame that the UK was not able to be chosen for that project. It was fine initially, but

because we were not number one we can become better. Even if this entertainment project

takes second or third priority and takes a couple of years to complete, at least we will have

been able to provide 10,000 jobs when all is said and done. You speak such good English, so I

must admit you. Don’t think I’m joking, we’re being broadcast live. Just say that you asked a

question at Oxford University and I will certainly accept you.

----完结 The End---