In August 2013, the Top 500 Chinese Enterprises Summit and the China Large Enterprise Summit took place in Yunnan from August 31st to September 1st. The event focused on strengthening leadership and fostering innovation as entrepreneurs gathered in Kunming to explore enterprise development amid economic transformation. During the summit, Jiang Xipei, Chairman of Jiangsu Far East Group Co., Ltd., shared his insights with a reporter from Xinhua.com. He emphasized that the cable industry must accelerate technological upgrades and business model innovations to evolve into integrated service providers.
Far East Holding Group Co., Ltd. was once again listed at position 470 in the "Top 500 Chinese Enterprises 2013" with an operating revenue of 2.1497747 billion yuan. Additionally, the company ranked 248th in the "China Top 500 Manufacturing Enterprises" list released at the conference.
Jiang Xipei highlighted that the top 500 rankings serve as an annual performance report for companies. Behind the numbers lie deeper implications. With overcapacity affecting many industries, enterprises are now facing more stringent challenges. He noted that management expectations for entrepreneurs have risen significantly, with many companies setting goals to enter both China's and the world’s top 500. Benchmarking, he said, is essential to identify gaps and drive progress.
He pointed out that the traditional growth model of the cable industry based on scale expansion is no longer sustainable. Instead, modern manufacturing and services need to be integrated. The convergence of the cable industry with e-commerce and the Internet presents new opportunities. Last year, Far East launched its cable network, enabling online transactions—an industry first.
Jiang also called on the government to continue supporting corporate mergers and capital increases while strictly regulating overcapacity sectors. He urged tighter controls on new enterprises, production licenses, and quality certifications. Only through resource integration, mutual complementation, and natural selection can the economy develop sustainably and healthily.
Looking ahead, Jiang expressed confidence that Far East will reach a production and sales scale of 100 billion yuan by around 2020. The company aims to achieve billions in profits and taxes, with a market value exceeding 200 billion yuan. By the end of this year, he expects a 20% revenue growth and about a 30% increase in profits.
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