[Far East’s Time of Boao] Jiang Xipei: Seize Opportunities “on Your Doorstep”

Source:网站管理 Published: 2019-04-18 Hits:

  Boao Forum for Asia Annual Conference 2019 was held from March 26 to 29 in Boao, Hainan. Jiang Xipei, founder, Chairman of the Board and Secretary of Party Committee of Far East Holding Group, also attended the conference as expected again. On March 26, a series of activities such as “CEO Roundtable: Private Entrepreneurs Roundtable”, “Greenfield, or M&A?” were successfully held. Jiang Xipei was invited to attend the above-mentioned forums and gave speeches, during which he was exclusively interviewed by IFENG.

  Session 4: Greenfield, or M&A?


  Scene of the forum “Greenfield, or M&A?”   Jiang Xipei (middle)

  On the afternoon of March 26, Jiang Xipei, together with Wu Yibing, Joint Head of Enterprise Development Group, Temasek and Head of Temasek China, Hazem Ben-Gacem, Co-Chief Executive Officer of Investcorp Bank B.S.C., Bahrain, Paolo Borzatta, Senior Partner of The European House – Ambrosetti, Hans-Paul Bürkner, Chairman of Boston Consulting Group, John Graham, Senior Managing Director & Global Head of Credit Investments, CPPIB, Gu Jianguo, CEO of China Jianyin Investment Ltd (JIC), Wang Jianjun, Chairman of the Board China VAST Industrial Urban Development Company Limited, and Zhang Hongli, Partner & Co-Chairman of HOPU INVESTMENTS shared experience on risk control, policy guidance and cooperation in overseas investment at the forum “Greenfield, or M&A?”


  Jiang Xipei delivers a speech on “Greenfield, or M&A?”

  Jiang Xipei expressed that before an enterprise considered Greenfield, or M&A, it should first distinguish itself in its familiar market at home. Every industry and every enterprise had the same opportunities. Resources, talents, capital, target companies, destinations, etc., should be considered accordingly. It also needed to have a professional team and learn from the success of some benchmarking enterprises. Although going global was inevitable, it still needed to attach importance to risk control and steadily and continuously develop the enterprise.

  When talking about the synergy between international investment and the local market, Jiang Xipei pointed out that China had a large market, and Chinese enterprises should first make themselves count as one of the best at home, and then consider extending their businesses to the European market and the North American market. Far East was developing rapidly at a steady pace, but we still needed to do a good job in our main business. In addition, Far East had also invested nearly 340 companies over the years, 100 of which had been listed. As a Chinese enterprise, Far East was very optimistic about the domestic market, so did the acquisition and merger opportunities.

  Jiang Xipei stated that in seizing the opportunities “on the doorstep”, the emerging problems were also our opportunities. Only by solving the needs of customers, solving the pain points of the whole society and materially solving their problems, could the value of enterprises be reflected. Far East was also one of the leading private enterprises with great potential among the private enterprises, but we felt that there were many areas for improvement.

  When it came to the review of foreign investment, especially the impact of the review of M&A, Jiang Xipei believed that now we were all in a community with a shared future for mankind and we couldn’t run solely. If some industries or enterprises were restricted, it might be because of information asymmetry for the government or industry association considering the results from different perspectives. A country often tended to protect home-grown companies. But if we wanted to promote China’s process of engaging with the world and social development and work for the wellbeing of the people substantially, he suggested that the government should not set too many restrictions. Restrictions could only bring backwardness, while opening-up brought us better development.

  CEO Roundtable: Private Entrepreneurs Roundtable


  Scene of CEO Roundtable: Private Entrepreneurs Roundtable

  At the CEO Roundtable: Private Entrepreneurs Roundtable, Jiang Xipei and Xu Sitao, Chief Economist and Partner of Deloitte China, Zhang Yue, Chairman and President of BROAD Group, Wang Zhonglei, Vice Chairman and CEO of H.BROTHERS, Li Baofang, Chairman of Kweichow Moutai Group and Secretary of the Party Committee of the Group, Zhang Yaqin, President of Baidu, Ren Zeping, Chief Economist (Vice President level) of Evergrande Group and President of Tsinghua-Evergrande Research Institution, Zheng Weiming, Secretary and Director of the Working Committee and the Administrative Committee of Tianjin Economic-Technological Development Area, Jiang Yafei, Senior Vice President of HUAWEI, and Wang Junzhou, President and CEO of Gome Holdings Group participated in the conference. Together, they discussed globalized management, digital transformation, innovative finance, and entrepreneurship, and exchanged views on ways for enterprise digital transformation.

  Meet the Press: Talk about future development with the reporter from IFENG

  Besides, Jiang Xipei also had an exclusive interview by the reporter from IFENG and they exchanged views on topics such as tax and cost reduction, foreign investment law, employment and recruitment. Jiang Xipei expressed that the next 30 years would be full of changes. For enterprises, it would be a period full of challenges and opportunities. The Central Government attached great importance to and concerned for private enterprises, promulgated a series of policies to support the development of private enterprises. Far East would fully grasp the opportunities, seize the opportunity of institution dividend, gain the dividend of confidence, create brand dividend and grasp the talent dividend.

  The annual conference this year has set up a total of 66 official activities in five major sectors: an open world economy, multilateralism, regional cooperation, global governance, innovation-driven, high-quality development, and hot and frontier issues. It is worth mentioning that the annual conference also held forum activities around the “Belt and Road” Initiative, “regional cooperation in Asia”, “pilot free trade zones and free trade ports” and other hot topics.

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