On 17 August, a symposium on the development of the Belt and Road Initiative was held by the central government in Beijing. Yuan Yafei, Chairman of Sanpower Group, attended the symposium as Sanpower’s representative. After the symposium, Yuan Yafei said that Sanpower Group would continue to speed up the going global and expand business activity in countries along the “belt and road” in particular, noting that Sanpower would continue to integrate its global resources, enhance productivity cooperation, and benefit the people of all countries concerned through advanced technologies and quality products.

Yuan Yafei noted that since 2014, Sanpower has used its base in the domestic market to reach into international markets, formally launching a development strategy of going global. It has carried out a series of overseas M&A activities, expanding its business into North America, Europe and the Middle East and allowing the company to establish an international basis for growth. In 2014, Nanjing Cenbest, which is owned by Sanpower, acquired House of Fraser, the third largest department store in the UK, and Brookstone, a well-known novelty chain store in the USA. It also bought Natali, an elderly care enterprise, and A.S. Nursing Company, a care-at-home company, which are both Israeli companies. With its going global strategy, Sanpower Group has acquired high quality foreign companies, introduced their advanced operating models and management systems to China, and achieved the transformation and upgrade of its domestic businesses.

Yuan Yafei said that since last year, Sanpower Group has been active in response to the central government’s proposed Belt and Road Initiative development strategy. In the process, the company has expanded communication with the countries included in the Belt and Road Initiative. At the moment, friendly communications have been established with Singapore, India, the Czech Republic and Slovenia. Staff from the Chinese consulates or business officials of the above countries have visited Sanpower, and Sanpower Group has been active in returning these visits and seeking opportunities to develop mutually beneficial partnerships.

Source: http://js.people.com.cn/GB/n2/2016/0819/c360301-28864561.html?from=singlemessage&isappinstalled=0