March 15, 2016,15:25 +0900(JST) Local Distributors' Conference in China
From February 22 to 23, I stayed in Shanghai to attend a conference with local distributors for our peroducts. Since the time difference between Shanghai and Japan is only one hour, and it takes only two and half hours from Kansai International Airport, the business trip to the city made me feel as if I had traveled to another city in Japan.
The conference was attended by dozens of individuals from local distributors and other organizations. The event included our explanation of the current business situation of the Sumitomo Electric Group, as well as the commendation of distributors demonstrating excellent sales activities.
The conference was followed by a stand-up dinner party. Forming small groups here and there in the venue, party participants were making toasts and drinking freely. This exciting scene made me realize that I was in China.
While emptying my glass, I asked some participants about the current business situation. Most of them answered that the situation was not so favorable and that it was difficult to predict the future. Since the Chinese economy continued to enjoy steady growth until just a little while ago, they seemed somewhat puzzled failing to forecast how the country's economic slowdown would turn out to be.
I'm sure that the competition in China among companies fighting for their survival will become more and more intense. To avoid getting involved in an unproductive war of attrition caused by price competition, we need to constantly place unique and value-added products in the market.