Cao Dewang,

Founder and Lifetime Honorary Chairman of Fuyao Glass Industry Group Co., Ltd

Distinguished guests, ladies and gentlemen, dear friends, good morning,

Fuyao Group, which I founded, is an enterprise engaged in the production of automotive glass. Its birth, growth, expansion, and eventual journey onto the global stage have resonated closely with the era of China’s reform and opening-up. In many ways, Fuyao is a microcosm of more than 40 years of China’s manufacturing development, revealing the country’s progress and distinctive strengths through a single slice. To understand China, one must certainly examine its political, economic, and cultural narratives; but observing the development of an enterprise or an industry is also an important way to “understand China.” The organizers have asked me to speak about how traditional industries can enhance competitiveness and achieve sustainable development. I would like to use Fuyao as an example to share a few thoughts, which are just personal reflections.

Firstly, to navigate the changes of the times, one must possess the confidence and resolve to withstand cycles. The world is constantly changing, and the course of one’s life is shaped by one’s own choices. My first experience with glass-making was at a collectively owned water meter glass factory in Gaoshan Town of Fuqing, my hometown in 1976,  before the reform and opening-up had even begun. In 1983, the central government issued its No. 1 Document encouraging individuals to take over under-performing township enterprises. But few people acted; most adopted a wait-and-see attitude. But I believed we must have confidence in our country. I felt a responsibility to follow that policy. So I mortgaged my house and in 1985 took over that township-owned glass factory, transforming it into a producer of automotive glass. Since then, Fuyao has stayed fully focused on its main business. Today, it has become the world’s largest professional supplier of automotive glass, with production bases and R&D centers in 18 provinces across China and in 13 countries worldwide, accounting for roughly 35% of the global market. It was confidence that enabled me to seize the opportunities of the times.

Resolve is reflected not only in what one chooses to do but also in what one chooses not to do. Times change rapidly — trade patterns shift, technologies evolve, and market hot spots appear and disappear overnight. In recent years, opportunities in real estate, finance, the internet, and AI have been highly tempting, and many friends invited me to join them in various ventures. I declined all of them, because I understand clearly that a company must create its own unique value for the country, society, and the people, not merely make money. Fuyao’s mission is to produce high-quality glass for Chinese consumers, so that every customer can use our products safely and happily. We must never stray from our original aspiration.

Because of this resolve, Fuyao has remained committed to research and development in an often impatient market. It has also remained steady amid global trade uncertainties, relying on self-developed technologies and reliable product quality. More importantly, we have fulfilled our mission: providing safe and reliable products, creating jobs, and contributing to China’s economic and social development. Here I would like to share some good news: despite severe global economic turbulence this year, Fuyao has grown against the trend—achieving over 30% year-on-year growth in after-tax profit in the first three quarters, with both production and sales reaching new highs.

Practice shows that opportunities favor those with faith. Development requires clarity about what one must do. When you believe in “serving the country, society, and the people,” you naturally gain the confidence to withstand all uncertainties.

Secondly, we must actively embrace new technologies of the era and enhance ourselves through the integration of “Dao” and “technique.” Upholding resolve does not mean clinging to outdated ways. For traditional manufacturing to break through, it must embrace new technologies and continuously evolve. This reflects the unity of “Dao” and “technique”. “Dao” is our original aspiration and determination; “technique” refers to the technologies and methods we use to upgrade and advance.

Big data, the internet, the Internet of Things, and artificial intelligence have profoundly transformed productivity. These technologies are not gimmicks to follow blindly, nor should they become distractions that pull us away from our main business. Instead, they are powerful tools to enhance quality and efficiency in traditional industries.

Fuyao began using Oracle tools in the 1990s and built its own ERP system. We gradually connected parts of our production lines and have now achieved full end-to-end intelligent manufacturing across the entire industrial chain through MES, flexible production, and AI-based deep-learning glass inspection. Rough calculations show that efficiency in the past three years has doubled. This is the benefit of fully embracing digital technology. In terms of process innovation, we have integrated digital management across R&D, production, and logistics, enabling precise delivery of customized products. In product innovation, we closely follow the “new four transformations” of the automotive industry, developing advanced products, such as, intelligent windshield systems, lightweight low-carbon glass, and smart dimming glass, precisely meeting the needs of new-energy and intelligent vehicles.

It is this spirit of “using Dao to guide technique” that has enabled Fuyao to remain rooted in manufacturing while keeping pace with the times, building unique technological advantages in global competition.

Thirdly, we must become observers of the era and plant seeds of hope for sustainable development. When one industry prospers, it requires broader prosperity. Whether individuals or organizations, we all exist within the environment of our times. To achieve sustainable development, we cannot focus solely on ourselves, we must shoulder social responsibilities and contribute to improving our environment.

As Fuyao developed, I traveled extensively around the world and discovered that many great century-old enterprises have deeply engaged in public causes that promote social progress, especially talent development. Carnegie, Ford, Stanford, Toyota, many of their founders chose to share their wealth with society in their later years. Mr. Stanford was originally a miner. After making money from gold mining and later from winning a major railway contract, he chose to sell off his assets, establish a foundation, purchase land, and create Stanford University. The remaining land helped incubate Silicon Valley, which, along with the university, continues to profoundly influence the world. Mr. Carnegie, once the “steel king,” also devoted his wealth after retirement to establish Carnegie Mellon University, now a world-leading institution in electronics and information science.

This made me reflect that the reason their enterprises have remained enduring is not only due to their own efforts, but also because the societies they lived in have continued to progress. Behind that progress lies their commitment to planting the seeds of talent for the future. When I came to this realization, I was already 75 years old, and it was time for me to take a step back. So I decided to invest 10 billion yuan to establish Fuyao University of Science and Technology.

This university was created in response to the needs of an era that calls for building a strong manufacturing nation. It is dedicated to cultivating high-caliber talent capable of supporting the high-quality development of China’s industries. It will bridge universities and enterprises, theory and practice, talent and society, truly enabling collaborative innovation between academia and industry, and providing talent support for the sustainable development of Chinese manufacturing.

After I announced the donation to establish this university, several successful entrepreneurs across China also announced their plans to create new research-oriented universities. I believe their decisions, their approach to wealth, their investment in education, and their care for the nation, represent progress in our era. I am sincerely proud of these entrepreneurs. Their actions demonstrate clearly to the international community the driving force and confidence behind China’s future sustainable development.

Finally, I want to say that Chinese entrepreneurs have always upheld a shared spirit: “To worry before the world worries, and to rejoice after the world rejoices.”

Thank you all!