Chapter 3899 Chapter 3901 [Carry on the past and open up the future]
Xiang Nan has also done business, so he naturally knows this.
“I agree to quality check these products, and if there are defects, you can deliver them normally.” He said to Sam Walton, “I will let them continue to improve and strive to produce qualified products.”
“Thank you for your understanding.” Sam Walton breathed a sigh of relief.
He was really worried that Xiang Nan would force him to sell these goods no matter what. Then he'll be in trouble. If the quality of these products is not up to standard, he will not only face huge financial losses, but also cause damage to Wal-Mart's reputation.
At that time, under the double losses, he would not even directly give Xiang Nan 50 million US dollars.
"But your attitude must be sincere, and you can't be deliberately nitpicking." Xiang Nan added, "Otherwise, I also understand foreign trade, so don't try to fool me."
He has inherited Li Yu’s foreign trade experience and has a good understanding of import and export trade. If the product is clearly qualified and Sam Walton refuses to purchase it, or seriously suppresses the price, he will not give up.
“No, no, as long as the quality is acceptable and the price is reasonable, we will definitely purchase it.” Sam Walton waved his hand quickly.
It is true that he loves money, but he cherishes his life even more. He didn't want to die suddenly and inexplicably one day because he offended Xiang Nan.
“Then I’m relieved and wish us a happy cooperation.” Xiang Nan said with a smile.
“It’s a pleasure to work together.” Sam Walton nodded.
…
Sum Walton then sent the samples sent by Xiang Nan to the quality inspection center for quality inspection, and found that the quality of the hardware produced by Yiwu was pretty good.
But the styles of clothing are old, the spray paint of toys is substandard, the materials of accessories are substandard, and the dyes of home textiles are substandard...
Therefore, Wal-Mart Group decided to purchase hardware products from Yiwu first. As for other products, the quality must pass before making large purchases.
Xiang Nan expressed his understanding of this result.
The development of domestic light industry is relatively backward. Compared with foreign technology, there is indeed a gap, and quality control is not rigorous.
This is normal. After all, the country has just opened its doors for business, and there is still a process of catching up and surpassing it.
Unlike the movie "Black Panther", Wakanda has been closed to the country for so many years, but its technology is far ahead of other countries. It's just a fool's errand.
Xiang Nan then called back to the mainland and told Qiu Yingjie about the incident.
"Brother Qiu, our hardware products are qualified. Wal-Mart Group is interested in purchasing them. In the next few days, they will send a purchasing team to Yiwu to purchase." Xiang Nan explained, "You should do a good job in reception, especially the quality of the products. Don't This time the chain drops.
There are some problems with clothing, toys, accessories, and home textiles. I will send you a report and correction suggestions later, and you can see if you can make corrections. Then the corrected samples will be sent for testing. As long as the quality passes the standard, they are still willing to purchase them. "
"Okay, okay, okay, Daguang really thanks you this time." Qiu Yingjie said excitedly after receiving Xiang Nan's call.
Although only one of the goods sent passed the inspection, the rest had more or less problems. But that's not a problem. The key is to connect with Wal-Mart, the world's largest supermarket chain giant.
This is equivalent to opening a trade route. No matter how narrow the trade route is at first and how thin the profit is, as long as you persist, the road will eventually become smoother and wider.
…
After receiving the report, Qiu Yingjie worked with the manufacturer to make corrections based on the problems pointed out in the report and suggestions for improvement. At the same time, Wal-Mart’s purchasing group also went to Yiwu to inspect and purchase hardware products. Qiu Yingjie also accompanied the entire trip and was responsible for translation and tour guide work.
Finally, after half a month of inspection, Wal-Mart Group signed the first batch of purchase contracts worth US$5 million with several hardware factories in Yiwu.
If the follow-up cooperation goes smoothly, we do not rule out increasing procurement efforts in the future.
Everyone in Yiwu is naturally very happy about this.
Because in the 1980s, earning foreign exchange from exports was a very important thing.
At that time, domestic foreign exchange reserves were too small. In 1987, the national foreign exchange reserves were only US$2.9 billion, not even as high as Xiang Nan's net worth.
The significance of foreign exchange reserves is very great. Abundant foreign exchange can introduce more advanced technologies and products from abroad and stabilize the country's exchange rate. Resist financial risks and enhance international credibility,
Yiwu sold goods worth 5 million US dollars this time, which increased the country's foreign exchange reserves by 0.2%, which is quite impressive.
Moreover, the hardware factories in Yiwu will also gain millions of RMB in profits, benefiting thousands of employees and thousands of families behind them.
What’s even more rare is that as the world’s largest retail group, Wal-Mart has very strict product requirements. It can purchase Yiwu's small commodities, which in disguise guarantees the quality of Yiwu's small commodities.
From now on, Yiwu merchants can use it as a signboard to help their products find more sales. Just like those old luxury brands in Europe, they all use the fact that they were once specially supplied to the royal family as a promotional selling point.
…
Subsequently, with the promotion of Xiang Nan, more and more small commodities from Yiwu entered the American market.
Such as toys, clothing, footwear, bags, accessories, stationery, tableware, textiles, etc. By 1989, Yiwu's foreign trade had exceeded US$30 million, and in 1990 it had exceeded US$100 million.
Not only does export earn foreign exchange, it also earns valuable foreign exchange for the country, which also greatly promotes the economic development of Yiwu.
At the same time, in 1988, Qiaogu became pregnant.
At the end of the year, I gave birth to a son successfully.
Xiang Nan named him Chen Jikai, which means "carrying on the past and opening up the future".
At the end of 1988, on the first anniversary of the establishment of Daguang Private Equity Fund, Xiang Nan disclosed the profits of the private equity fund.
The billion-dollar private equity fund has expanded to US$7.7 billion under his management, which means that all investors made 70% of the profits within one year.
Comparatively, the financial funds with the best performance on Wall Street only have an annual return rate of only 40%. Therefore, Xiang Nan's income is nearly double that of theirs.
Such glorious profit data made Daguang Private Equity Fund the darling of the investment community overnight. Xiang Nan has once again become the center of attention.
He had successfully predicted the stock market crash in 1987, and it has now been a year since the stock market crash.
According to the laws of the media industry, no matter how hot the news is, it can only maintain its popularity for at most half a month. What's more, a year has passed since the stock market crash, so Xiang Nan's popularity has faded.
But now, with his excellent performance, Xiang Nan has once again become the focus of the media.
After all, no matter how good a Wall Street fund manager is, his performance is far inferior to him. Earning 1.7 billion US dollars with one billion US dollars in one year is really beyond people's imagination.
For this reason, after such performance was exposed, a large number of customers flocked to the door, wanting to hand over their money to Xiang Nan Investment.