A jewel in Suzhou's crown
By Hu Haiyan, Song Wenwei and Zhou Furong (China Daily) Updated: 2014-07-14 07:02
When the company was set up in 1992 its products were aimed at the international market, says Jin Zhifeng, president of SJEC. At that point, China's elevator industry was still in the initial stages of development, and "we had to export all of our products".
Last year, the company says, it had sales revenue of about 2.5 billion yuan, 20 percent higher than the year before.
The company expects sales revenue to rise 15 percent this year, Jin says, with international sales accounting for 30 percent of that.
SJEC greatly increased its profile when it supplied products for the Olympic Games in Beijing in 2008 and the Shanghai World Expo in 2010.
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Being located in the Suzhou Industrial Park has been invaluable in helping the company grow globally, he says.
"The park is run in a very open-minded way. We get a lot of support from the officials, who often visit us and help us solve problems."
One of the biggest constraints for the company's development is a dearth of talent, he says.
"The cost of living in Suzhou has risen, and that makes it very difficult for us to retain talent."
Being an innovator is what helps the company stand out from the competition, he says.
"For example, we are now trying to come up with a lift that can be used even during a fire."
Another company located in the park, Higer Bus Co Ltd, is also developing its international sales relying on strong R&D.
The company, founded in 1998, has a bus manufacturing operation covering 800,000 square meters in the park. Last year the company sold 25,810 buses, bringing in revenue of 9.15 billion yuan, and its products were exported to 85 countries and regions, including Africa, the Americas, Eastern Europe, the Middle East, Russia and South Asia.
"We invest about 5 percent of our sales revenue in R&D, and we attach great importance to international sales," says Ji Yongping, a company spokesman.
International sales account for about 13 percent of total sales, and that is expected to rise to 16 percent within three years, he says.
