To help enterprises in Nanjing “going out” and increase the bilateral trade between China and foreign countries, “Nanjing NEXT Summit — A Strategic View of China’s Near Future” was held in Nanjing on June 9, 2017. Mr. Chen Xudong, Senior Vice President of Sanpower Group, attended the summit and discussed with many excellent American business representatives about the “New Normal” state of China’s business development and ways to address it in the increasingly intensive market competition. The summit was hosted by AmCham Shanghai Nanjing Center, supported by Nanjing Municipal Bureau of Commerce and Nanjing Association of Enterprises with Foreign Investment, and co-organized by China (Nanjing) Software Valley.

On his  debut after joining Sanpower, Mr. Chen not only answered with great enthusiasm various questions put forward by attendees, but also made a detailed introduction to Sanpower’s 3C business. He remarked that in view of the higher capacity and vitality of novelty products that Sanpower had noticed several years ago, the Group acquired Brookstone, a famous American novelty retailer, and hence started its friendly economic and trade exchanges with the U.S.. Learning how to expand business and improve industrial chain through M&A was actually one reason for Mr. Chen to join Sanpower.

Chen Xudong, Glen Walter (Left), CEO of Coca-Cola Bottling Investments Group China, and Kenneth Jarrett (Right), President of AmCham Shanghai

It is worth mentioning that on the day before the summit, Sanpower was chosen as the first stop visited by American business representatives. Nor Coquillard, Chairman of Enactus China, Kevin Chan, CEO of JLL China, Darren Burns, President of Weber Shandwick China, and other representatives visited Sanpower and discussed with Mr. Chen over China’s current economic situations and exchanged their views on transnational investment activities.

Representatives from America first went to the showroom for Sanpower’s corporate culture, gaining a general idea of its industrial landscape, and then visited the concept store of Brookstone — an outcome of Sanpower’s takeover in 2014, where they all felt both at home and proud. They said it was out of Sanpower’s acquisition that the outstanding American business could land inChinaat last, enabling more Chinese consumers to know such an American novelty brand. Moreover, at the beginning of this year, Sanpower related its American story again by signing to take over Provenge, the first and only FDA-approved immunotherapy drug for prostate cancer, helping Sanpower to be a vanguard in precision medicine. In the future, Sanpower will continue to abide by its “going out” strategy and make contributions to the international community.