Jiang Xipei: Carrying Forward Sushang Spirit and Building the First-class Enterprise

On September 11, "Well-known Sushang Coming to Hebei Province & Global Sushang Summit in 2014", co-sponsored by Jiangsu Federation of Industry and Commerce, Hebei Federation of Industry and Commerce, and People's Government of Tangshan Municipality was grandly held. Over 500 famous Jiangsu private entrepreneur representatives gathered in beautiful Phoenix, shared the synergetic development opportunity of Beijing-Tianjin-Hebei Region, and created new business opportunities for cooperation between JiangsuProvince and HebeiProvince. Jiang Xipei, Chairman of the Board and CEO of Far East Holding Group was invited to attend the summit and delivered a brilliant speech.

Jiang Xipei was making a splendid speech

In the entrepreneur forum, Jiang Xipei said that, in the spell of Sushang spirit, Sushang had made certain contribution to social economy of JiangsuProvince even to the whole country, and would certainly play better role in future. HebeiProvince, known as a birth place of creative minds and gifted talents, will offer god-given development opportunity to Sushang as the integration process of Beijing-Tianjin-Hebei Region is pushing forward. Against the economic & financial crisis in the face of China at present, he stressed that, both government and entrepreneurs were lack of experience to cope with economic crisis; however, they would find solutions to all matters based on the key of sizing up the situation.

Jiang Xipei believed that, the enterprise development should, first of all, avoid three major risks. Firstly, legal risk; it is unnecessary to and shouldn't break the bottom line of laws and regulations. Secondly, risk of major investment decisions; we must be very prudent to make decision which might decide an enterprise's destiny. In the market economy, many enterprises will be eliminated, and the future competition will be among first-class enterprises; therefore, an enterprise should make investment of controllable risks within the limit of its capacity. Thirdly, employment risk; talents are the most important fortunes for enterprises and a country, and a big enterprise will be involved in many industries, therefore, choosing good team management talents are of vital importance.

Secondly, it should have sound environment. Currently, the global financial crisis is spreading, and the global politicians should make a concerted effort to build a sound environment. Only by cultivating positive environment can more people plunge into the work of creating value and serving the society, thus realizing better integrity environment. The society, media and entrepreneurs should join in it, make concerted efforts, and reduce transaction costs, thus serving users with more inventions and promoting sustainable development of the society.

Thirdly, it should have system capacity. Merely relying on cutting edge in one aspect, an enterprise will be eventually difficult to sustain its sustainable development; it should gather more global first-class talents to serve enterprise, in a bid to further improve its leading capacity, decision-making capacity, management capacity, executive capacity, profitability and learning ability, which will be the key to decide whether an enterprise can survive and develop from this round of economic & financial crisis.

Fourthly, it should have good thoughts. After 30-year continuous rapid development, China has stepped from emerging market into mature market; however, amid severe unordered competition among numerous enterprises from all walks of life, an enterprise will have no tomorrow with the development thought of merely relying on relationship. Only such enterprise, which has good brand, quality and offer better product and service, can win customers and the future.

Fifthly, it should have clear strategy, scientific system, cutting-edge technology, and advanced business model. In the next 5-10 years, most of enterprises will disappear, and mergers & acquisitions will become an overarching trend for the development of many industries. An enterprise, without strategy, is difficult to sustain development; and it should be well aware of the importance of strategy and establish scientific system procedure in order to have better competitive edge. Meanwhile, it should aim at global cutting-edge technology, and consider whether it consumes the least resources in the field, be beneficial to the environment and has the highest performance cost ratio when developing new technology; only an enterprise has the highest performance cost ratio and best service can it have competitive edge and conform to the law of market and economy.

Jiang Xipei took Far East as example and analyzed its development road. For years, Far East has consistently adhered to the development strategy of "main business + investment". In early 2014, the group clearly confirmed its position of global investment management professional, targeted at emerging industries, cooperated with a Fund established by 22 Funds and a company, and invested in nearly 300 enterprises, of which, 69 enterprises have been respectively listed or discussed by China Securities Regulatory Commission. In August, the listed company, Far East Cable Co., Ltd. officially changed its name into Far East Smarter Energy Co., Ltd., transforming into smarter energy integrated solution provider. Far East has also originated in building the model of "two platforms based on one network", effectively promoting the integrative and transformational development of whole cable industrial chain, information industry, logistics industry and financial industry. Every step of Far East's strategic adjustment has reflected its decision of sizing up the situation, which is continuous innovation made by all staff from strategy to tactics in aspects of system, production, technology, marketing, management, etc., thus realizing company upgrading in every dimensionality and ability. In addition, Far East's development has been heavily relied on its corporate culture, which consists of innovative culture, entrepreneurial culture, institutional culture and integrity culture, so as to achieve harmony & soul culture; harmony is value idea, soul is operating method, and a private enterprise will find the way out only by creating mutual-benefit, win-win, harmonious and co-prosperity environment, sizing up the situation, and taking the marketability path.

Finally, it should take five satisfactions as the starting point and foothold. The society including the government has more expectation of entrepreneurs; enterprises should strive for perfection in development, thus realizing the aim of customer satisfaction, staff satisfaction, shareholder satisfaction, government satisfaction and society satisfaction.

When speaking of the future, Jiang Xipei said, Far East had been committed to become the global first-class enterprise; by learning and surpassing the model, Far East would become a well-respected enterprise which staffs were proud of.

Cai Hao, Director Assistant of President Office of Far East Holding Group, Mao Jianqiang, Investor and Senior Director of Far East Smarter Energy Co., Ltd. (stock code: 600869), Zhang Aimin, Deputy Marketing Director, and Shi Linjun, Investor and Marketing Director Assistant accompanied to attend the meeting.

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