Wolves were the 'best of the rest' last season, finishing seventh in their first year back in the Premier League.
With funds to invest into an improving young team, hopes are high from within the club that Wolves can break the top six monopoly in the coming years.
But in an exclusive interview published in new Express & Star book 'Back Where We Belong – Story of the Season 18/19', Shi said: "You have to invest (to bridge the gap to the top six). You have to make the recruitment right and have a good academy, to produce top young players.
"Also I think you have to be very consistent in what you are doing.
"It's important to keep a high quality of work and a consistent strategy for 10 years.
"Your opponent may do something fantastic for one or two years but it's hard to keep doing the right thing for a long time.
"It's a marathon. Eventually, the more consistent and excellent management teams will triumph, that's my view."
Wolves will next month play in Europe for the first time in almost 40 years when they start their Europa League campaign.
Teams have encountered problems juggling their European exploits with the regular domestic season, but Wolves will hope to avoid that.
Shi isn't setting any targets for the year ahead: "It's hard to say a target for next season, I'm always reluctant to say that.
"I'm keen to say we want to be the best in the league in the long-term, but for next season it's hard to say.
"Of course, the higher the better and we will try to improve the team.
"But you never know. I don't want to give the team too much pressure, talking about the top six or the top four.
"Maybe it will take more years to achieve that – if you rush to get the job done it may cause some problems and you go backwards.
"The only thing we must do is try to improve the team. If we manage that, sooner or later the results will come.
"We could stay seventh next season but earn more points, which is still good enough."
Back Where We Belong – Story of the Season 18/19 is officially out today.
In his extensive interview, executive chairman Shi also discusses China, Europe, Fosun and his personal highlights from last season.