But industrial design can be a boon for enterprises only when it meets the following three requirements: First, it should reflect the global trend that points to the future of the markets. Second, it should be environmentally friendly. Sustainable industrial development does not necessarily come at the sacrifice of natural resources. And most importantly, it should cater to the particular needs of customers. Each link of the customer experience, from unpacking to product use and after-sales service, should be able to justify the customers’ loyalty to the product.

When it comes to innovative industrial design, Apple Inc. can be a good example. The company has led the world in catering to customers with a variety of product designs and at the same time has kept its costs to a minimum.

Domestically, Chinese customers have been keeping pace with world fashion tides, leaving enterprises wider room for innovative activities. Private enterprises should double their efforts now to upgrade their industrial designs and promote their brand images to match innovations in their products.

Cash is no king

Li Dao (President of Pro-Health (China) Co. Ltd., a Beijing-based health product maker): There is at least one thing that we should learn from the ongoing crisis-over-leveraging and excess investments are only one step away from a financial bust. But after the crisis, the world is bound to resume its investment spree. The question facing private Chinese enterprises now is how to grab a slice of the spree’s big pie before it’s too late.

It is always taken for granted that cash is king in hard times, which I think is not a universal truth. Since the financial storm battered industries in the Western world, it is a good time now for domestic enterprises to go out and take over financially distressed rivals, seek cross-national cooperation or purchase advanced equipment and technologies at cheaper costs. Valuable overseas assets such as sales channels and managerial expertise would definitely help pave the way for domestic private enterprises as they edge toward a knowledge-intensive business.

The government’s part

Long Yongtu (Secretary General of the Boao Forum for Asia): The Chinese Government has acted swiftly to battle the deepening economic gloom, although it may still take more corrections and policy moves for the economy to see any rebound. The economic washout of the United States has served as a reminder of how important the manufacturing sector can be for an economy, especially for China, which is in the process of urbanization. The financial sector, however booming it is, can by no means replace the manufacturing industry to become the foundation of the economy.

The headwinds facing many private enterprises have some root causes to blame, such as entrenched discrimination against private enterprises in terms of financing and some other aspects. What the government can do is to foster a fair and transparent business environment for all players to compete on equal footing.

For example, the country’s export tax rebate rate has been constantly changing, a destabilizing factor that has troubled many exporters. Personally, I am a persistent advocate of a full export tax rebate to buck up the withering export sector. Such a supportive and predictable policy environment would be instrumental in helping the sector shake off recessionary fears.

Zhang Yansheng (an economist at the Academy of Macroeconomic Research under the National Development and Reform Commission): Signs have been emerging that the economy and the country’s once-roaring export machine are grinding to a halt. In the wake of such a grave situation, the Chinese Government has also obviously felt the urge to pitch in.

My personal suggestion for the government’s rescue includes the following three measures: First, prop up private enterprises with more tax breaks and other favorable policies. Second, help private enterprises with the introduction of hi-tech and professional talent as well as financing. The government and major commercial banks could provide more loan guarantees for them. Third, encourage universities and research institutes to collaborate with the enterprises on technological innovations and product research and development.