The fourth commendation ceremony for “Outstanding Builders of Socialism with Chinese Characteristics” within the national non-public ownership economy was held in Beijing on November 25, with a total of 100 outstanding figures commended. Recently, the CPC United Front Work Department, ACFIC, Cpcnews.cn and Tyzx.people.cn jointly launched “The Fourth National Outstanding Builders Interview Series”, which invited the “Outstanding Builders” to come to People Network and exchange with netizens online. On November 24, Chairman of Sanpower Group Yuan Yafei showed up in People Network, and talked about Sanpower Group’s M&A ideas, as well as corporate social responsibilities.

Seen from the outside, the retail industry is mired in the “winter”, while Sanpower Group has bucked the trend this year by launching a series of M&As, including not only overseas M&As, but also cross-border group buying websites. In the interview, Yuan first unveiled the strategic considerations behind the M&As, explaining that the acquisition of House of Fraser (HOF) is intended to absorb its management systems, business ideas, as well as the supply chain. HOF will not simply be a department store in China in the future, but more importantly it will introduce private brands and buyers system, which is the upgrading of consumption management and business model in the context of China’s economic restructuring. The investment in Lashou Network is made for its bountiful online resources and operational experience, so that in the future the online and offline resources can be integrated together and that high-quality and cost-effective products will be offered for customers. Besides, Funtalk Telecommunications is among the first to get the virtual operator licence in China, with 9 million mobile phones sold annually. We are contemplating how to trace, serve, and tap the customers so as to provide them with better value. Sanpower Group has decided on the modern service industry oriented development characterised by informatisation 10 years ago, and it is still sticking to the route now. Adapting to social changes and transforming our business model — this is what the acquisitions hope to achieve.

In its development, Sanpower Group provides job slots for 3,500 university graduates each year, and 4,000 employment channels for laid-off workers and disabled people. Yuan explained that the Group doesn’t solve employment problem for its own sake. Rather, job opportunities can only be created when the Group develops in a sustainable way, follow the development of the times, run offline resources with the Internet business ideas, as well as innovate commercial model. The fittest survive; therefore, only when the business develops and expands will more staff be needed. The Group has also accommodated some disabled employees, who previously had a hard time making a living. More importantly, its talents should be diversified, so that they can meditate from different perspectives. Disabled employees may cherish their jobs much more, and their spirit is also worth learning. Yuan finally pointed out that improving social employment is also the Group’s responsibility, which can be undertaken only when it is fundamentally run well.