Wang Zhongming/Wen Today's topic is human capital. Usually, human resource management is a concept in management, while human capital is more a concept in economics. Joining the WTO is the long-term wish of China people. We have struggled for decades, from the original "re-entry into GATT" to the present "entry into WTO". Now "WTO entry" is inevitable, and the key is to what extent China people and China enterprises realize the practical significance of "WTO entry". Some people think that joining the WTO is the gospel for us to share the fruits of economic globalization. Some people think it is a disaster, which will make our national industry disappear. I think joining the WTO will provide a mechanism to promote life and death: for some established and well-prepared enterprises, it will provide an opportunity to accelerate their development and enable them to quickly enter the platform of globalization. For example, Haier Group has completed the process of "Haier's internationalization, Haier's internationalization", which is definitely an opportunity for her to accelerate development. But for some enterprises, WTO entry is a "notice of critical illness" or even a "notice of death". Joining WTO means that China enterprises will become world companies and international companies, and they will be integrated into global competition without going abroad. Without adequate preparation, China enterprises will face more and stronger competitors than before joining the WTO, which will be a severe test of your competitiveness. After China's entry into WTO, China's national industries will be reorganized to a great extent, and a considerable number of enterprises will close down, which is a painful process. Therefore, China's accession to the WTO cannot simply be regarded as a blessing or a curse. What we can do now is to better enrich ourselves, equip ourselves, lay a solid foundation and aim at our competitors. My idea is to look at the strength of an enterprise and its competitors. If the competitors are world-class well-known large enterprises, then this enterprise must be a powerful and promising enterprise. If we can keep an eye on these international "fighters" and compete with them, we can make better use of the opportunities given by China's accession to the WTO. Colombian writer Garcia Marca said, "Don't expect what 2 1 century will bring, 2 1 century expects you to give everything". I think the same is true of joining the WTO. Without such a gift, we can share the fruits of globalization without any effort after joining the WTO. Therefore, we should be prepared to fight hard. The slogan of Zhejiang Vientiane Group is "Use foreigners' resources to be foreigners' bosses and earn foreigners' money in foreigners' places". Such enterprises and slogans have strengthened our national confidence. After China's entry into WTO, China enterprises should not only pay attention to the characteristics of China, but also pay attention to international standards. After China's entry into WTO, if we pay too much attention to the characteristics of China, we will be passive in many aspects because we ignore the requirements of international norms. According to international standards, many of our current behaviors and ways of thinking need to be improved. For example, according to international practices and norms, the only way out for those unsustainable enterprises is to close down. Acting in accordance with international rules can solve many international disputes. Everything is changing, the only constant is the law of change. This is an era of advocating change. When we were young, we sang "Imperialism Flees with its tail between its legs". When we joined the WTO and opened the door, we let "imperialists come in with wallets". The Silk Road has so far made the Chinese nation proud. What we really need now is a "way of thinking". We must think positively and make plans as early as possible in order to be invincible in the competition. After more than 20 years of reform and opening up, China has basically solved the survival problems such as food and clothing. But now there are many kinds of books advertised as "survival" in bookstores, such as digital survival, virtual survival and network survival ... It seems that there is a problem with survival again. Indeed, if we know nothing or little about digitalization, virtualization and network today, it will definitely affect our quality of life. Internet is an artificial skin made by human beings, covering the earth. Nowadays, enterprises are "not online, not dead". After China's entry into WTO, each of us should measure our quality by the standards of world citizens. I think CIMC can improve the quality of enterprise managers in this way, which is prescient; I also admire your corporate culture slogan "Try to be perfect". What should Chinese enterprises do in the face of fierce international market competition? What should we do? I think there are two urgent things, one is the reform of the system, and the other is the human capital reserve. Here I want to explain the following three points: the era of human capital leading economic development is coming. Prior to this, the economic development model was mainly based on material capital investment and extensive, and now it is gradually changing into an intensive management track relying on the improvement of workers' quality and scientific and technological progress. In this way, the demand for human capital is getting higher and higher, more and more urgent and deeper; At the same time, human capital and knowledge are playing an increasingly important role in enterprises. If our enterprise does not have enough human capital stock, it will not have good competitiveness. Under the condition of knowledge economy, the concept of means of production has changed greatly; New economic enterprises have quite a lot of "leg assets", which can follow the human brain. Bacon's famous saying "knowledge is power", we can gradually realize it now. Bill Gates can confidently walk to the throne of the richest man in the world, and Fiorina's signing fee for HP is 90 million dollars. This is a typical example of the soaring value of knowledge in the new economic era. In this era, human capital has a price, and the price depends on our input. If we don't increase investment in human capital and only pay attention to material capital, the digestion and absorption rate of material capital will also be greatly reduced. The most important investment channels of human capital are education and training. China's biggest debt to its citizens is education. This kind of debt affects the improvement of the overall quality of the nation; If we don't increase investment in this area, it will affect our sustainable development. In addition to some typical industries, such as IT and bioengineering, it is important to transform emerging technological achievements into the transformation of traditional industries. In this process, the combination of knowledge and capital is the natural match of knowledge economy. People used to pursue capital, but now capital pursues knowledge. Talents with good knowledge structure are the target of capital pursuit. The era of human capital leading economic development is coming. The talent war has begun. In the era of knowledge economy, human resources are the most fundamental resources of enterprises. With human capital becoming the dominant factor of economic development, the soaring price of human capital will inevitably lead to an international talent war. Economic globalization calls for talent globalization. In the era of knowledge economy, competing for outstanding talents has become an unavoidable reality for outstanding enterprises. At present, our position of measuring talents is too low, and they are all talents above technical secondary school, which should be considered in the world. We should fully realize that China is striving to join the WTO against the background of 200 million illiterates. Low population quality and imperfect system are two major burdens for us to participate in global competition. The problems of unfair employment and unfair distribution have long plagued Chinese enterprises. Why did the United States benefit the most from the talent war? Why do 80% graduates from some departments in Tsinghua go to the United States? There are at least institutional reasons for this, such as the employment system, salary system, income distribution system, etc ... It is not enough to leave people in business and feelings. It should be noted that talents are becoming more and more market-oriented and priced. You must clearly mark the price and give him a good return. It is correct for us to engage in stock options and homing projects now. If we don't take decisive and effective measures, we will lose in the talent war and face the dilemma of talent desertification and empty shell. In the era of knowledge economy, the competition for talents is not only more and more fierce, but also the goal of competition is greatly advanced. Microsoft "pre-purchased" prodigies in primary schools, and hired consultants who were not only senior technical talents, but also computer geniuses in their teens. How many enterprises in China already have this awareness? We should empathize with this fierce talent competition, have a clear understanding and plan ahead. I think perfecting the system and improving the investment environment are two major problems that must be solved to attract talents. The president of an American consulting company said, "Competitive treatment, especially long-term wealth accumulation, is an indispensable weight in the talent war. Companies that can find talents and open their vaults to them will eventually find out how rich their return on investment is. " Education and training will further heat up. As mentioned above, human capital has become the dominant factor of economic development, the curtain of talent war has been opened, and the enthusiasm for human capital investment is unprecedented. The demand for study is very obvious now. Although the economy now presents an all-round surplus, it actually covers up the deeper shortage, such as the shortage of human capital and the low technological development ability. The competitive advantage in the future lies in learning faster and better than competitors, so-called quick victory. Practice is the only criterion for testing truth, and speed is the only criterion for testing practice. The premise of speed is the quality of people. At present, overpopulation and low-quality population coexist in China; Abundance of human resources and shortage of human capital coexist; Talent scarcity and talent waste coexist. We must take measures to change this situation. Another problem is that the effective supply of education and training is insufficient, and we cannot produce high-quality products for those who are hungry and in urgent need of knowledge. CIMC cooperated with CEN and Nankai University to explore a training mode, which is very valuable. Knowledge is no longer durable today, and the only thing we can do is to keep learning. There is a word in English, Commencement, which means "graduation ceremony" and "start", which is intriguing. Mcluhan said that "not learning is a sin", which is really a thought-provoking famous saying. Every moment of life is a new starting point for learning. The writer is Director of Education and Training Department of State Economic and Trade Commission. This paper is based on the recording of the author's speech in the training class for reserve cadres of CIMC Group, and has not been reviewed by myself.