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Tencent's SY Lau lays out his vision for Internet Plus and its significance to China and Asia

Tencent (PR Newswire) - 07 November 2015

Speaking at the 2015 Malaysia-China Entrepreneur Conference, SY Lau urges entrepreneurs to adopt Internet Plus as a new mindset to confront the economic slowdown

SELANGOR, Malaysia/PRNewswire/ -- SY Lau, Senior Executive Vice President of Tencent and President of its Online Media Group (OMG), spoke today at the 2015 Malaysia-China Entrepreneur Conference (MCEC), themed "Advancing the Modern Maritime Silk Road, Building a Harmonious ASEAN." He said that Internet Plus represents a whole new mindset that can help overcome the challenges confronting the ASEAN today, especially in a time of economic slowdown. He emphasized that the critical success factor of Internet Plus lies in the word "integration." Entrepreneurs, he said, should embrace Internet Plus as a bold approach to steer a new kind of growth. Speakers at the event also included Dato' Bong Hon Liong, President of Malaysia-China Chamber of Commerce (MCCC), Y.A.B. Tuan Mohamed Azmin Ali, Dato' Menteri Besar of Selangor, Malaysia, and Y.B. Dato' Sri Liow Tiong Lai, Minister of Transport, Malaysia.

Organized by MCCC, a platform to promote Sino-Malaysian economic and trade development, the Malaysia-China Entrepreneur Conference was first launched in 2011. This year, the MCCC organized the 5th MCEC 2015 in Selangor Malaysia, specifically to implement the Maritime Silk Road concept advocated by China's President Xi Jinping through practical and significant development in ASEAN.

China now enjoys the stature of being the most advanced mobile Internet consumption market in the world. Via Internet Plus initiatives, China is making substantial progress toward the integration of the Internet with all industries, even faster than most of the advanced countries. "I believe the Internet and Internet Plus Initiative is China's blueprint to bring the 'Internet of Things' into reality. It also brings hope for the eventual possibility of the 'Internet of Everything,'" said SY Lau.

SY Lau encouraged entrepreneurs to develop an Internet Plus mindset to think from Zero to One, from competition to cooperation, from "minus" to "plus."

Manicure and massage services offered through mobile accounts within WeChat are performing traditional businesses in an innovative way. They cancelled their brick-and-mortar shops, and instead they use online booking to send masseurs and manicurists to customers' homes, and even offices. SY Lau used this example to illustrate from Zero to One, a new way of thinking about innovation.

About two months ago, Tencent has partnered with insurance companies to offer insurance against flight delays. Users can conveniently purchase by shaking their smartphone under WeChat shake feature at some airports. If one's flight is delayed by more than 30 minutes, the insurance automatically deposits compensation into the user's e-wallet within Weixin, WeChat's sister APP in China. This seemingly simple function actually requires complex cooperation between various data networks. This was another example given by SY Lau on the integration of traditional business practices with the Internet, with the common goal of creating consumer value.

SY Lau further elaborated, "With the ambitious Internet Plus initiative, we have the chance to step ahead of many advanced economies with the arrival of the Internet of Things, and even the Internet of Everything. If the Asia region working closely each other we can definitely move toward excellence."

SY Lau said that as national strategies, M'sia's Digital M'sia and China's Internet Plus share the same determination and strategic thinking that will allow the two countries to better cope with the challenges Asia is facing right now.

About Tencent
Tencent uses technology to enrich the lives of Internet users. Every day, hundreds of millions of people communicate, share experiences, consume information and seek entertainment through our integrated platforms. Tencent's diversified services include QQ, Weixin/ WeChat for communications; Qzone for social networking; QQ Game Platform for online games; and Tencent News for information and Tencent Video for video content.

Tencent was founded in Shenzhen in 1998 and went public on the Main Board of the Hong Kong Stock Exchange in 2004. The Company is one of the constituent stocks of the Hang Seng Index. Tencent seeks to evolve with the Internet by investing in innovation, providing a hospitable environment for partners, and staying close to users.

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