“Inheritance and Co-work” – A True Case of Far East
On January 5, 2016 Annual Convention of Yiwu Entrepreneurs & Innovation and Inheritance Summit Forum was successfully held. Hundreds of entrepreneurs from Yiwu chambers of commerce and industry associations gathered to carry out in-depth discussion and communication on the theme of “Innovation and Inheritance – Future Prospect of Yiwu”. At the Forum of “Upholding New Spirit of Starting Up in Business, Exploring New Landscape of Development”, main entrepreneurs discussed the inheritance of family business, including Jiang Xipei, Founder, Board President and Party Secretary of Far East Holding Group Co., Ltd.; Jiang Chengzhi, Investor and Board Director of Far East Holding Group Co., Ltd. and Board President of Far East Smarter Energy Co., Ltd. (Smarter Energy for short, Stock Code: 600869); Zhou Xiaoguang, Board President of Neoglory Holdings Group Co., Ltd.; Yu Jiangbo, President of Neoglory Holdings Group Co., Ltd.
Jiang Xipei is Giving a Speech
Jiang Chengzhi is Giving a Speech
Innovation Gene
Jiang Changjian, a professor of Fudan University and the famous presenter of Jiangsu TV asked four guests to write the answers to his question: What are the three must-have abilities for an entrepreneur?
The answer of Jiang Xipei: Wisdom, Public Praise, Creativity
The answer of Jiang Chengzhi: Innovation, Persistence, Learning Capacity
Chen Ting, Founder of China Heritage Club, commented, “Two subjects of family inheritance are owner and successor. The inheritance of value and culture is beyond wealth heritage. ” The fact that Jiang Xipei and Jiang Chengzhi coincidentally gave the similar answers “Creativity and Innovation” reflects the intergenerational inheritance of “Innovation Gene”.
Business Inheritance
After graduating as a financial postgraduate in the United States in 2009, Jiang Chengzhi chose not to enter Far East immediately but focused on more exploration to the world. So he joined the CITIC Private Equity Funds Management Co., Ltd (“CITIC PE”) to be an ordinary investment analyst. As one of the most excellent Chinese investment companies, CITIC has rich resources of a state-owned enterprise, diversified working atmosphere as well as international and professional standard. Here Jiang Chengzhi learned and practiced investment well.
Jiang Chengzhi, “After graduated as a postgraduate from the United States, I considered returning back. My parents have been painstakingly running the business. But, I thought my family business (Far East) runs well and I majored in Finance, thus I hoped to experience a bigger platform and a larger city, where I can explore the unknown and open up my horizon. The two years in Beijing played a great influence on me… In CITIC, I had access to many excellent enterprises and various industries, and then I felt it seemed to be the time for me to return to my own family business.”
In 2012, Jiang Chengzhi hinted his thought of returning back to the family business in the phone call to his father Jiang Xipei, who paused for seconds and said, “Ok”.
Jiang Xipei, “I hoped him to work for three or five years in the world’s best company to experience and live. It is no problem if he wants to return. If you have the interest, will and ability, I will offer you a proper platform when appropriate. He developed from the Group Board Director to be the Board President of a listed company. When you have enough capacity, wisdom, influence and will, you should shoulder more responsibilities.”
In 2012, Jiang Chengzhi joined Far East Holding Group Co., Ltd., took the posts of Board Director and Board Office Secretary, and dominated the acquisitions of several subsidiaries, including SEMEUREKA, Intelligence Power, Far East First New Energy, etc. In August 2016, Jiang Chengzhi assumed the post of Board President of Smarter Energy, leading the enterprise to the strategic development path of “The World’s Leading Smarter Energy, Smarter City System Facilitator”.
Father-son Co-work
Jiang Xipei, “In the enterprise, I am the Founder and Board President, as a subordinate, he should obey me; At home, I am the father, as a son, he should listen to me too. Certainly, when he says something I understand and convince, I will listen to him.”
Jiang Chengzhi, “The trust should be accumulated bit by bit. Everyone follow the same path in growth, from small decisions and things to big ones. Sometimes, although it was uncertain and groundless to some extent, my father chose to support me firmly.”
Future Planning
Jiang Xipei, “His planning for the listed company is ‘a net profit of RMB 5 billion, an operation revenue of RMB 100 billion, a market value of RMB 150 billion and an annual per-capita employee income of above RMB 150 thousand ’, I think he has a clearer goal, a greater ambition, sense of mission and responsibility than us. I feel relieved… I hope the children can be safe and healthy, having a successful business and happy life.”
Jiang Chengzhi, “In 2020, I hope my parents are safe and healthy, spend more time with children to hang around. My parents are enthusiastic about charity and I hope they can help more people in need.”
Jiang Xipei, “Family and nation can only prosper when they are populous and wealthy. I wish the next generation can be better and better. With wisdom, public praise and creativity, you can enjoy a happier life and more wonderful life!”
The Scene of Forum
