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To Become a Listed Company highly respected by Investors with Innovation

2017-05-22 15:28:00 Print To share:
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On May 20, the first session of Jiangsu Development Summit organized by Jiangsu Provincial Committee of CPC and People’s Government of Jiangsu Province was inaugurated in Nanjing. This conference aimed to build a platform for exchange among celebrities in all walks of life who was natives of Jiangsu Province living at home and abroad or who studied and worked in Jiangsu Province as a way to promote extensive communication and cooperation and pool mighty efforts for creating a new Jiangsu with “strong economy, wealthy livelihood, beautiful environment and high civilization”. Over 1200 celebrities from home and abroad who are influential in fields including business circles, scientific and technological circles, educational circles, recreation and sports circles, financial circle, overseas communities, Chinese communities, political circles and diplomatic circles as well as foreigners who were awarded Jiangsu Honorary Citizen and Jiangsu Friendship Prize attended the conference. Yang Yongqing, the chairman of SUMEC Group was invited to attend this conference and received the exclusive interview given by Xinhua Daily. Now excerpts from the interview are as follows:

Firmly pursuing the philosophy of “quality development” and practicing the ideal of serving the country through industry, SUMEC Group has embodied the national strategy in every step of its development and expansion so as to commit itself to creating greater value for shareholders, economy and society. 

China Machinery and Equipment Export Company Jiangsu Branch, the predecessor of SUMEC, was founded in 1978, serving as a key member enterprise of SINOMACH, the important backbone centrally-administered SOE, and the mainstay of trade and service sectors. Reviewing the development of over 30 years at the course of the global economic integration and Chinese reform and opening up, SUMEC has embarked on a development path upgrading from a simple trade company to an enterprise integrating “Trade, Industry and Technique” and then transforming to “a internationalized and diversified modern manufacturing service group focusing on fields of trade and service, engineering contracting, investment and development”. In 2016, SUMEC Group achieved the operation revenue totaling RMB49.441 billion yuan, with a year-on-year increase of 21.8%, reaching a record high. Among the total revenue, income from imports and exports amounts to 5.298 billion US dollars, with a year-on-year increase of 15%, taking the first place of Jiangsu key contacting enterprises in imports and exports. There is a story as “Learning from Zhejiang Materials Industry Group Corporation while drawing on the experience of SUMEC” sill popular among state-funded enterprises system of Jiangsu Province.


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