On the morning of 6 September, the 2018 Fortune CEO Summit was grandly held in Taiyuan. Nearly 300 business leaders, business representatives, well-known scholars and specially-invited guests gathered together to discuss the new trend of global economic development. Mr. Li Xiyong, CPC Secretary and Chairman of Yankuang Group, attended the meeting and delivered a keynote speech on the internationalization of Yankuang Group.
Mr. Li Xiyong said in his speech that the world today is undergoing major development, big changes and significant adjustments unprecedented in the past century. Multi-polarization, economic globalization and cultural diversity in the world are experiencing in-depth development, global governance system and the reform of international order are accelerating, and protectionism, unilateralism and anti-globalization trends are on the rise, which all bring more difficulties and challenges to the internationalization of enterprises.
Mr. Li Xiyong pointed out that for over 2 decades of globalized development, especially implementation of “Three-Step” strategy covering layout optimization, transformation & adjustment and consolidation & enhancement since the “13th Five-Year” Period, Yankuang Group has become the first energy-based enterprise to “go global”, the most open energy enterprise in China and the only Chinese coal enterprise that has four listing platforms. Yankuang Group has entered into 2018 Fortune Global 500, ranking No. 399 and No. 25 among Top 100 Chinese Multinational Enterprises.
Mr. Li Xiyong emphasized that looking back Yankuang’s international development, energy-based companies that want to develop overseas must possess four abilities. Firstly, efficient resources integration ability is the key to the success of cultivating first-class enterprises. Secondly, outstanding technical innovation capability is the "strong engine" of breeding the international first-class enterprises. Thirdly, ability of global integration and development is an important “magic power” of developing first-class enterprises. Fourthly, the capacity of risk management and control is the foundational guarantee of building first-class enterprises.
Mr. Li Xiyong's speech struck a strong chord with the leaders, scholars and guests attending the summit. In the following interview, Li Xiyong was invited to the stage again. Focusing on new steps in internationalization, he answered questions from host of this summit and interacted with part of entrepreneur representatives.
During the summit, Mr. Yin Mingde, Vice Executive General Manager of Yankuang Group, shared the practices and experiences of sustainable development of resources-based cities and was interviewed by reporter of Sina Finance.
Fortune CEO Summit is the annual business executive summit of Fortune Magazine (Chinese version) in China, which has been held six sessions. The summit, with its high standards and high quality of serving entrepreneurs, has become an important platform for exchanges among the world's top 500 entrepreneurs.