Gaorong Zhang Zhen on Consumer Trends

The transcript discusses investment focuses in China, highlighting new consumption trends and core technologies like AI. It addresses challenges in venture capital, citing unsuccessful models like Hightown and self-service goods shelves. The success of Pinduoduo is explored, along with its competition with Alibaba and JD.com. The coffee market's growth potential is analyzed, emphasizing the need for local brands. The transcript concludes with insights into the fintech sector and IPO prospects, predicting a positive outlook for compliant companies.

How does the speaker view the competition faced by Pinduoduo from other major players?

What is the expected trend for IPOs in the coming year according to the speaker?