IBI Invited by Jiangsu Provincial Department of Industry and Information Technology to Deliver a Keynote at the Provincial Training on Industrial E-commerce Innovation and Development_Company News_Beijing United Information Technology Co.

At the invitation of the Jiangsu Provincial Department of Industry and Information Technology, IBI (Stock Code: SH.603613) delivered the keynote report for the 3rd Provincial Training Session on Industrial E-commerce Innovation and Development. Addressing attendees from Jiangsu’s industry and IT system as well as key provincial and municipal enterprises, the session launched a “brainstorm” on how to leverage industrial e-commerce to “deeply cultivate Jiangsu’s characteristic industries and strengthen industrial agglomeration effects.”

Following the event, Xinhua Daily’s All-Media Economics Desk published an article on Xinhua Net titled: “How Can Jiangsu Enterprises ‘Leverage’ Industrial E-commerce? This ‘Brainstorm’ Raised Some Reflections.”

“Among the world’s 100 largest companies today, 60 derive their primary revenue from platform business models.”

This remark from a guest speaker at the session whetted everyone’s appetite. Indeed, the day’s “brainstorm” helped more Jiangsu enterprises recognize the importance of platform models and nudged them toward embracing industrial e-commerce. Yet for Jiangsu’s three million SMEs and numerous platform companies, how to pursue deep vertical cultivation around the province’s characteristic industries and amplify cluster effects remains a question that calls for answers.

The Industrial Internet: Moving “From Connection to Enablement”

IBI Senior Vice President Pan Yong was at the center of the discussion. He introduced IBI as a B2B e-commerce and industrial internet platform that, grounded in industrial e-commerce and powered by internet big data, provides online commodity trading of industrial goods and raw materials, business information services, and internet technology services for related sectors. IBI operates the B2B information service platform IBI Resource Network, B2B vertical e-commerce platforms—Toodudu (TDD), Wdoodoo (WDD), Boododo (BDD), Feidoodoo (FDD), Zdoodoo (ZDD), Lydodo (LYDD)—and the digital technology services suite IBI SaaS Services. These business lines reinforce one another through strong value synergies.

In his talk, Pan stressed that it is unrealistic to expect a one-size-fits-all model for the industrial internet: core needs differ by industry, so models must be designed accordingly. However, the essentials remain constant—platform services, digital technologies, and data—which is a key reason IBI achieved 7.197 billion yuan in operating revenue in 2019, up 95.93% year-on-year.

Professor Ren Fei of Peking University’s Guanghua School of Management called the industrial internet “a truly significant undertaking.” Citing IBI’s success, he argued that the sector’s trajectory is shifting from connection to enablement. Early B2B platforms focused on connecting enterprise buyers and sellers to transact, but struggled with trust, long-term cooperation, product standardization, and customer service. Today’s “connection” has largely solved these issues through trust mechanisms, more convenient transactions, and services beyond purchasing—including supply-chain finance—made possible by technological enablement. Therefore, we must apply internet thinking to the deep integration of the internet with traditional industries, embedding innovation across all links to create new models and transformative impact.

Jiangsu Enterprises Seek “How-To” Playbooks

Theory only goes so far; many Jiangsu companies now want hands-on know-how. A Jiangsu manufacturer of sewing-machine components (top-10 globally in its niche) said it hopes to expand from manufacturing into platform operations but finds that its leadership and managers lack a deep understanding of platform strategy, operations, and governance. The company asked Pan: where should a manufacturer like us begin?

Pan noted this is common—traditional firms often have low levels of informatization, and many owners lack a digital mindset. His advice:

Make digitalization a top-leader project. Without the owner’s commitment, it won’t work.
Start from what the owner cares about most—orders. Solve transaction needs first and work backward from orders, letting the market pull the company toward informatization and digitalization, and toward active use of platforms. Over time, this builds true digital awareness.
These lessons underpin IBI’s relative success today.

Another Jiangsu company asked bluntly: as a paint producer, how should we choose between generalist e-commerce platforms and specialized ones? Pan’s answer: it’s not about the number of platforms; it’s about help delivered. “If ten platforms can all help you sell more and cut raw-material costs, join all ten. If a platform can neither sell for you nor reduce your costs, don’t join.”

The Sector Still Invites Deeper Reflection

The session also spurred further thinking among government and academia. Zhang Jian, Deputy Director of the Systems Institute at the National Industrial Information Security Development Research Center, said industrial-cluster administrators should: (1) leverage industrial e-commerce platforms like IBI to strengthen and supplement supply chains, and (2) use industrial internet and e-commerce platforms to drive digital transformation of traditional industries—shifting from point-based to chain- and network-based thinking.

Professor Song Peijian of Nanjing University’s Business School noted the platform economy’s “winner-takes-most” tendency: large platforms capture very high shares, leaving limited room for smaller ones. With many existing B2B information and vertical e-commerce platforms—and potential entrants outside the market—how incumbents seize the top slot and how newcomers break in both merit deeper study.

For Jiangsu specifically, reflection is also needed. By end-2019, Jiangsu—a province of SMEs—had over 3 million SMEs (99.9% of enterprises), including 44,422 above-scale industrial SMEs (97.7% of above-scale industrial firms). How to drive their digital transformation and quality-efficiency gains is a key challenge in integrating industrialization and informatisation. A provincial MIIT official noted that industrial e-commerce, grounded in traditional business models but optimized with new ICT, features low investment and quick results, and can effectively help especially SMEs reduce costs and transform digitally. In recent years, many consumer-goods SMEs in the province have actively used industrial e-commerce platforms for procurement and sales, explored personalized customization models, and achieved strong results. (Reporter: Chen Cheng, Xinhua Daily “Junction Point”)