Chapter 3899 3901 [Continuing the Past and Opening the Future]
Xiang Nan has also done business, so he is naturally clear about this.
"I agree to inspect these products, and if there are any defects, you can also raise 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 products no matter what. That would be troublesome for him. If the quality of these products is not up to standard, he will not only face huge financial losses, but also damage Wal-Mart's reputation.
At that time, under the double loss, he may not even give Xiang Nan 50 million US dollars directly.
"But your attitude must be sincere, and you can't deliberately find fault with the eggs." Xiang Nan said again, "Otherwise, I also understand foreign trade, don't try to fool me."
He inherited Li Yu's foreign trade experience and has a good understanding of import and export trade. If the goods are obviously qualified, but Sam Walton still refuses to purchase, or severely suppresses the price, he will not give up.
"No, no, as long as the quality is up to standard 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 more. He does not want to die suddenly one day because of offending Xiang Nan.
"Then I am relieved. I wish us a happy cooperation." Xiang Nan smiled.
"Happy cooperation." Sam Walton nodded.
...
Then, Sam Walton sent the samples sent by Xiang Nan to the quality inspection center for quality inspection, and found that the quality of the small hardware produced in Yiwu was still good.
But the style of the clothing is old, the spray paint of the toys is unqualified, the materials of the accessories are unqualified, and the dyes of the home textiles are unqualified...
Therefore, Walmart Group decided to purchase hardware products from Yiwu first. As for other products, they must be purchased in large quantities after the quality is passed.
Xiang Nan expressed his understanding of this result.
The development of domestic light industry is relatively backward, and there is indeed a gap compared with foreign technology, and the control of quality is not rigorous.
This is normal. After all, the country has just opened its doors to do business, and there is still a process of catching up and surpassing.
Unlike the movie "Black Panther", Wakanda has been closed for so many years, but its science and technology are far ahead of other countries. It's just a foolish dream.
Xiang Nan then called back to the mainland and told Qiu Yingjie about it.
"Brother Qiu, our hardware products are qualified. Walmart Group is interested in purchasing. In the next few days, it will send a purchasing group to Yiwu to purchase." Xiang Nan explained, "You should do a good job of reception, especially to grasp the product quality. Don't let down the chain at this time.
There are some problems with clothing, toys, accessories, and home textiles. I will mail you the report and rectification opinions later. See if you can make corrections. Then send the corrected samples for testing. As long as the quality is up to standard, they are still willing to purchase."
"Okay, okay, okay, Daguang really thanks you this time." Qiu Yingjie was very excited after receiving Xiang Nan's call.
Although only one of the goods sent passed the test, the rest had more or less problems. But that's not a problem. The key is to get in touch with Walmart, the largest international chain supermarket giant.
This is equivalent to opening a trade route. No matter how narrow this trade route is at the beginning and how thin the profit is, as long as you persist, the road will eventually become smoother and wider.
…
Xiang Nan then mailed Wal-Mart's quality inspection report back to the mainland.
After receiving the report, Qiu Yingjie and the manufacturer made corrections to the problems pointed out in the report and the suggestions for improvement.
At the same time, Wal-Mart's purchasing team also went to Yiwu to inspect and purchase hardware products. Qiu Yingjie also accompanied them throughout the whole process, 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 subsequent cooperation goes smoothly, it is not ruled out that the purchase will be increased in the future.
Yiwu is naturally very happy about this.
Because in the 1980s, exporting to earn foreign exchange was a very important thing.
At that time, the 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 wealth.
And 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. To resist financial risks and enhance international credibility,
Yiwu sold goods worth 5 million US dollars at a time, which increased the country's foreign exchange reserves by 0.2%, which is quite remarkable.
Moreover, these hardware factories in Yiwu will also make millions of RMB in profits, and thousands of employees and thousands of families behind them will benefit from it.
What's more rare is that Walmart, as the world's largest retail group, has very strict requirements for goods. It can purchase small commodities from Yiwu, which in disguise guarantees the quality of small commodities from Yiwu.
From then on, Yiwu merchants can use it as a signboard to help their products find more sales channels. Just like those old luxury brands in Europe, they all use the promotional selling point of being specially supplied to the royal family.
...
Later, under the promotion of Xiang Nan, more and more small commodities from Yiwu entered the US market.
For example, toys, clothing, shoes and socks, luggage, accessories, stationery, tableware, textiles, etc. By 1989, Yiwu's foreign trade had exceeded 30 million US dollars, and in 1990 it exceeded 100 million US dollars.
Not only did it generate valuable foreign exchange for the country through exports, it also greatly promoted the economic development of Yiwu.
At the same time, in 1988, Qiaogu became pregnant.
At the end of the year, I successfully gave birth to a son.
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.
Under his management, the billion-dollar private equity fund has expanded to 1.7 billion U.S. dollars, which means that all investors made 70% of the profits within one year.
In comparison, the wealth management 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 previously successfully predicted the 1987 stock market crash, and now it has 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 behind him. Earning 1.7 billion US dollars with one billion US dollars in one year is really beyond people's imagination.
Therefore, after such performance was exposed, a large number of customers flocked to the door, all wanting to hand over their money to Xiang Nan Investment.