On July 25-26, 2020, the second phase of the 'Third Phase of Equity and Venture Capital Practical Seminar' sponsored by the Venture Capital Committee was successfully held in Hangzhou.

The training invited 4 well-known experts in the industry to give lectures. Cai Xiaofei, the managing partner of TTGG, gave a lecture on 'Industrial Investment Logic in the Context of Consumption Upgrade', and Shi Jianjun, Chairman of Dunhe Asset Management Co., Ltd. gave a lecture on 'Basics of Futures' and Yuanhe Origin Management Partner Fei Jianjiang lectured on 'Early Investment Logic and Case Sharing', and partner of Global Law Firm Yu Lei lectured on 'Law and Business Logic in Venture Capital Terms'.

Cai Xiaofei has been deeply involved in the field of large consumption investment for many years. In the training class, Cai Xiaofei opened the topic on the biggest world change in the 30 years since the rise of China, proposed the theme of consumption upgrade, introduced the driving force of consumption upgrade, and gave his industrial investment thinking brought by consumption upgrade.

'Brand is the last or the strongest moat of competition in the consumer industry,' Cai Xiaofei believes. 'A good consumption upgrade will be fundamentally challenged in customer experience and industry efficiency. With the personalized demand emerging, , the ability that can transform the supply side of the traditional consumer goods and service industries is the key to obtain efficiency and improve customer experience.'