When talking about Sino-US trade frictions, Sun Jie said that there is no obvious impact on the tourism industry at present, but trade friction may lead to both losses. "Tourism can promote people-to-people exchanges, enhance mutual contact and promote world peace. The common interests between China and the United States are so extensive. I believe that the two countries will have enough wisdom to solve this problem together," Sun Jie said in the program. .
When talking about the growth prospects of the Chinese market, Sun Jie said that Ctrip has maintained a four-fold growth rate of China's domestic GDP growth. Considering that China’s per capita GDP continues to increase, urbanization and talentseducationWith the release of dividends, it is believed that the Chinese economy will continue to grow in the next decade and the tourism economy will continue to improve in the long run.
The following is an interview with Sun Jie:
Moderator: Hello everyone! Here is Fox Financial TV. Today we are exclusively invited to Ctrip's CEO Sun Jie, I am very glad that you can participate in today's interview.
Sun Jie:I am also very happy to receive an invitation.
the LordHold: I know that your work at Ctrip is doing very well. I want to hear your thoughts about the crash in Ethiopia this morning. What kind of impact does Ctrip have on Ctrip?
Sun Jie:We are very sad to see such a thing. In China, all the same aircraft have been grounded, which I think is the right approach. We should always put the lives of our passengers first. We have a global rescue SOS project. In this case, our team will contact the customer in a timely manner, while ensuring that the hotel partners provide shelter for the customer and help them get back home as soon as possible.
Moderator: You also have a lot of partners, some use Boeing 737, and other Chinese aircraft.
Sun Jie:Yes, we feel that no matter what happens, airlines are taking the right steps to investigate the cause of the accident and protect the lives of passengers. We are also ensuring that passengers who have booked a flight are aware of the impact of this matter.
Moderator: This morning we learned that we have discovered the black box. Next we will get further information to understand why this happened.
I would like to ask about the current trade situation between China and the United States. Do you think that the twists and turns in Sino-US trade friction have affected you in the past?
Sun Jie:I don't think there is any immediate impact. But everyone said that if we can cooperate, it is actually a state of mutual benefit. If there is a dispute, it will be both bad. We believe that the two countries must have enough wisdom and the common interests between the two countries are so extensive. I believe that we can solve this problem together.
For Ctrip, the travel industry has nothing to do with politics. Tourism can promote interpersonal communication, strengthen international exchanges between different countries, enhance mutual understanding and cultural exchanges, and promote world peace. Ctrip can do a lot of things. We hope to better understand people around the world.
Moderator: You still have great potential in the Chinese market, because there are actually many people who have not really gone abroad and boarded the plane, right? Tell us about the growth potential of Ctrip.
Sun Jie:Yes, I joined Ctrip 14 years ago. When we started our business, there were very few customers at the beginning, but this year is the 20th anniversary of Ctrip. Our active customer base is now around 300 million people.
Moderator: Congratulations, it is amazing.
Sun Jie:Thank you, the most expensive travel product we sell is a one-person one-way one-way $200,000, very expensive high-end travel products. Guess how long we spent selling this package.
Moderator: How long?
Moderator: Half an hour?
Sun Jie:17 seconds.
Moderator: (laughs) Unimaginable.
Sun Jie: This tells us that the purchasing power of Chinese customers has been growing continuously, and we also hope to bring such customers to all over the world. In fact, this can bring more employment opportunities to these countries.
host:Let's talk about your strategy. You have three brands now, and you have made some investment mergers and acquisitions. So there are also many different products and services. You also said that you want to expand to third- and fourth-tier cities. Is this part of the strategy?
host:Please tell me about it.
Sun Jie:For now, these capital operations are very successful. First of all, as China's per capita GDP continues to rise, we see that China's outbound travel market is very large. In China, we have Ctrip called Ctrip, and in foreign countries we call Trip.com, which is convenient for overseas travelers. Then we also acquired a British company Skyscanner, which is very technically strong and has a strong ticket price. These companies are doing very well.
Moderator: What do you think is the potential for China's growth? We saw this figure. A guest said before that China’s economic growth rate has slowed to around 6%. I want to understand the potential of your business in the future, from your perspective, under the current economic growth rate.
Sun Jie:If GDP can maintain a growth of 6% to 6.5%, then tourism will double, that is, around 12%.
Moderator: The growth rate of the tourism industry is double that of GDP.
Sun Jie:Almost like this, our goal is 3-4 times the GDP growth rate. Our latest data has increased by 22% to 23% in the past year. I think China still has a long way to go, for several reasons.
First, although China's GDP has reached the second place in the world, its per capita GDP is only 8,000 US dollars, which is still far behind the United States and Europe. Secondly, urbanization, China's urbanization also lags behind many countries, the degree of our urbanization. It is only 40% to 50%, but many Western countries may have reached 70% to 80%. Third, Chinese people pay attention to investment education. Confucius began to educate everyone about education. The investment in education is for the future and for the next generation. investment. So in summary, we believe that China will have good growth in the next decade.
Moderator: Yes, as I said earlier, you have incredible growth potential. Many Chinese people may not have ever taken a plane before.
Moderator: Now you have 3 brands, Ctrip and Trip.com, and Skyscanner. You can log in and use it with your mobile phone, right?
Moderator: This is not the same as the situation in the United States, because the Chinese seem to have skipped the stage of the computer, but directly to the mobile side of the mobile phone.
Sun Jie:Yes, now 80% to 90% of our transactions are done on mobile phones. The mobile app allows us to have such a one-stop service platform. If you want to fly from New York to London, we know that you are in Business Class or First Class. We will recommend you to the Four Seasons Hotel if you arrive in London. At Silo Airport, we will help you calculate the distance from the airport to the hotel, and then we will recommend the service of the limousine pick-up, which is very convenient.
Moderator: Very intelligent, you already have all the data. Let me ask you an AI question. What is the impact on the use of artificial intelligence for your business?
Sun Jie:For us, if we can use AI, we can really understand the needs of users, we can better meet their needs from the perspective of the supply chain, so I think this is very good.
Moderator: Your current industry is very fascinating. Thank you very much for accepting my interview today.
Sun Jie:Thank you for inviting me.
Moderator: Thank you for participating in the program.