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BEIJING TO CHENGDU, AN ENTREPENEUR’S JOURNEY
The Chengdu Economic Daily recently wrote a very interesting and though provoking article about an entrepreneur’s journey from Beijing to Chengdu, and we summarise the main points with added commentary.
“When the intrepid reporter caught up with Mr. Zhoupin, he was boarding an evening flight from Chegdu’s Shuangliu airport and travelling to Beijing, a return journey he had been making regularly for five years.”
Mr. Zhoupin who is the founder of www.quwan.com (an online shopping website) and who is coincidentally from Chengdu described his entrepreneurial journey. Mr. Zhoupin explained he commenced working for Baidu in Beijing, resigned in 2008 to launch his own online business and within five years developed a viable B2C model. However 2013 was the water shed year when he decided to relocate his business headquarters from Beijing to Chengdu.
Zhoupin stated, “In Beijing, living costs are exorbitant and the ability to provide better working conditions for staff more challenging. In 2012 “quwan” received two rounds of series A and B financing, but realized the most fundamental factor in growing the business was not funding, but talent. Thereby I undertook research of China’s other growing cities like Tianjin and Xiamen and determined that Chengdu had the most favorable business conditions, government policies and a stable environment.
“Furthermore Chengdu’s housing prices are about one third of Beijing, you are able to live closer to work, it provides better work life balance and thereby employees are more focused and productive.”
Nevertheless with move to Chengdu there was a significant turnover of staff, with approximately twenty making the transition and this seriously affected their business operations.
The catalyst to reenergize the business occurred when he attended the 2013 Fortune Form in Chengdu and met the chairman of 7-11 (Chengdu). They exchanged their views and the chairman provided unique insights into how large corporations develop core capabilities, competencies and cultivate their workplace culture. Thereafter Zhoupin and his senior management developed various business strategies, realigned their business channels, linked in with JD and Alibaba and this culminated in substantial revenue growth.
Revenue as at December 2014 exceeded RMB 100 million (US$15 million); a threefold increase, and employee numbers grew to 220. Zhoupin states, “quxan.com has received series C funding totaling RMB 10 million plus and soon it is preparing for a stock market listing”, end article.
Investinchengdu.com wholeheartedly commends the diligent efforts of Mr. Zhoupin in transforming his business. Chengdu the ‘economic juggernaut’ of Western China, presents many viable business opportunities in industries ranging from advanced manufacturing, automotive, biopharmaceutical environmental, life sciences , and technology to name a few. Furthermore Chengdu the home to leading technical universities has developed a very skilled talent pool and 299 of the Fortune 500 companies have made the calculated move here.
The Chengdu Municipal Government has also recently launched the ‘10 Clause Talent Program Policy’ (forerunner of the ‘Chengdu Talent Plan’) which outlines various employment, financial and lifestyle incentives for foreign professionals to locate to Chengdu and further develop their careers and ground breaking technologies.
Indeed Mr. Zhoupin’s story will be experienced by many others, and we wish him continued success with his endeavours.
Information source: Chengdu Economic Daily, 23/11/2015
Disclaimer: The above article has been summarized and translated from The Chengdu Economic Daily and added commentary provided by investinchengdu.com.