Zhang jindong: suning’s offline share ranks first in China, and the top three online
The first china-us entrepreneur summit was held in Washington, dc. The summit was held by the us department of commerce to “promote the stable development of china-us economic and trade relations”. The 20 representative business leaders of China and the United States participated in the all-day closed-door dialogue.
Su ning, chairman zhang said at the meeting, near east su ning is currently China’s largest online fusion of the development of the enterprise, many people in China to suning compared to the combination of “wal-mart and amazon”. Suning has also been exploring the Chinese wisdom retail model along this line. So far, the suning platform has more than 400 million users, with an offline share ranking first in China and the top three in the industry.
The following is a transcript of a recent speech by Mr. Zhang:
Smart retail connects China and the United States, prosperity world
Friends of business, ladies and gentlemen,
Everybody is good!
I am very glad to attend the summit of Chinese and American entrepreneurs. Here today, many companies such as general electric, wal-mart is our first teacher, Chinese entrepreneurs is an example to us for a long time study, we’ll put our suning’s incoming prime minister called “wal-mart” of China, of course I think this is not only the recognition, is also a kind of expectation. In addition, there are many suning partners in the field today, Mr. Schwarzman and jamie? Mr Dimon and ms rometty are old friends of suning, and we have already begun to work together, like Johnson & Johnson and tyson.
Recently we often talk about the problem of trade deficit, but for American companies, on the su ning platform has only surplus, because now we business to sell the goods to the United States to give priority to.
For 27 years as a retail company, we have been committed to sharing high-quality products from all over the world to consumers worldwide. At present, suning, China’s largest online fusion of the development of the enterprise, many people in China to suning compared to a combination of “wal-mart and amazon”, we have also been along this train of thought, exploring the Chinese wisdom and retail mode. So far, the suning platform has more than 400 million users, and our offline share ranks first in China and the top three in the industry.
In the process of the growth of suning, suning and U.S. companies forged a deep feelings, from the beginning and we and many excellent corporate America goes hand in hand together, common development in the Chinese market.
It is fair to say that the important part of suning’s development is to accompany American companies in China to develop the market and develop the growth process. Suning appliance 3 c enterprises in China it is the biggest retail partners, service the whirlpool, a. o. Smith, apple, HP, dell, Microsoft, and many other brands, sales of more than 2016 billions of dollars. With the help of su ning’s channel advantage, we also help some American brands to quickly open up the Chinese market, such as A.O. Smith, which has become the first brand in China’s water heater industry. In recent years, with the development of the Su Ningquan category management strategy, our goods in business has expanded to the food, maternal and child supplies, department stores, automobile and so on each category, also begin with in like Johnson & Johnson, gm, and many other industry leaders of enterprises to cooperate. We hope that through suning’s platform, we can help more American brands expand the Chinese market further.
Based on retail business based, suning has been promoting industrial transformation and upgrading, at present has formed business, real estate, finance, investment, sports, six industry coordinated development layout, business covers the United States, Japan and Europe and other countries and regions, in deals also has more than 130 billion dollars.
In the process of diversified industries, we have established continuous and deep cooperative relationship with many excellent American enterprises. Like IBM, we have been working together for nearly 20 years on corporate advisory management and IT technology. At the same time, with the expansion of the field, we also have in-depth exchanges with blackstone, jp Morgan and other aspects of asset management. Not only that, in commercial real estate, we have more than 20 projects, such as RTKL, NBBJ, murphy young, WATG and other design units in the United States, nearly 10 million square meters of architectural design cooperation. At the same time in the field of hotel, suning hotel brands, such as marriott, hyatt, MGM has nine high star hotel cooperation, at the end of this year, we together to build the world’s second home and MGM polyster hotel grand opening will be in Shanghai bund.
In addition, we also set up the institute of technology in silicon valley, in creating more jobs at the same time, the positive development in the United States, the United States, and in the United States a good Internet companies develop deeper and more frontier cooperation together.
At present, the development of retail industry in China is at the best opportunity of its history. It is also an opportunity for American enterprises. In summary, I think there are two big opportunities.
First, China’s consumption upgrade will bring new opportunities for advanced manufacturing services in the United States.
China’s consumption potential is huge, not least because it has a huge market of nearly 1.4 billion people. What’s more, China is now enjoying the strongest wave of consumer upgrading in its history, with consumption contributing to 64.6% of China’s economic growth.
In 2016, China’s GDP per capita reached us $8, 000, and the middle class was already the largest in the world. More and more consumers begin to pursue high-quality, personalized products, cultural leisure, health, entertainment and other service industry also began to develop rapidly, and these are the advantages of the field, has a mature industry chain, for enterprise’s cooperation to upgrade opened new doors.
Suning is promoting the strategy of “global buyers”, the high quality food, maternal and infant supplies, health care products, etc., are all suning hope to China the focus of the products, we hope this respect and Johnson &johnson, tyson, and other enterprises more in-depth cooperation, to jointly develop the Chinese consumer market quality.
Chinese consumption upgrade also promoted the high-tech consumer electronics products, many of the leading electronics is almost synchronous with China and the United States, su ning in the field of big data and IT also has more than 20 years of accumulation and exploration, we can use the user data mining, and the enterprise of intelligent equipment, service robot, electric cars, high-end home appliance C2B reverse custom 3 c and other technology products, precision to meet the needs of Chinese users, IT also will accelerate the high-end manufacturing scale of investment and employment in the United States.
Second, the development of Chinese smart retail will create huge application space for American technology enterprises.
At present, new technologies such as the Internet, big data, artificial intelligence, etc., have become the trend of mutual exploration of Chinese and American enterprises. Like the recent fire of unattended stores, wal-mart and alibaba have launched their own products. Wisdom has become a trend, China’s vast region, diverse groups, as well as the huge demand, for retail provides one of the most abundant wisdom application scenarios, and the United States has a leading global Internet, artificial intelligence and other high-tech, wisdom and retail is the best graft.
Online and offline integration, cross-border electricity, artificial intelligence, unmanned shops, Internet platform is the innovation direction of the Chinese retail enterprises, based on the wisdom of retail technology service cooperation, will promote the application of Internet and high-tech enterprise China to become the biggest market, we can create together wisdom possibilities of retail, as well as the product of global output provides a new choice.
Friends of entrepreneurs, China is experiencing a consumption upgrade, and the United States is advancing high-end manufacturing. We have a lot of new technologies and new needs to explore and win-win cooperation. At the same time, in the face of the vast global market, China and the United States have different advantages and complementary capabilities to jointly explore and lead the global market. Thank you!