On August 28, CCTV-13 program Xinwen Zhibojian broadcasted a segment on Xinbao Holdings. Titled Industry Leader Drives Enhancement of the Entire Industry's Competitiveness, the segment documented how Xinbao and its upstream and downstream partners managed to find new growth drivers in the context of the price hikes of raw materials.
Small and medium-sized enterprises (SMEs) play an important role in safeguarding China's economic resilience. In the face of the rising prices of raw materials brought about by the pandemic and other factors, SMEs show great resilience and have figured out many ways to cope with problems.
The small home appliance company, Xinbao, has caused an industry chain comprising more than 1,000 suppliers to form in Foshan, Guangdong. Among them, the manufacturers of key components are the best in their fields. The stability of the industry chain in the context of rising raw material costs demonstrates the robust collaboration between Xinbao and its suppliers.
Xinbao Supply Chain Management Head said that:
We will support our suppliers, address technical challenges, and work with our partners to control costs and increase quality across the industry chain. We endeavor to build a more reliable, stable, resilient and responsive industry chain in order to remain competitive.
Liu Xiangdong, Deputy Director of Macroeconomics Study, China Center for International Economic Exchanges said that:
SMEs grow amid market fluctuations. They are extremely sensitive and responsive to market changes, and can figure out ways to cope with the difficulties they are facing. This is why they can prepare themselves promptly and boost their resilience against risks in the face of adverse events that occur at the upstream and downstream segments of the industry chain.
Source: CCTV-13 Xinwen Zhibojian
September 1, 2021
