Composite Global Growth by Regional Expansion China, in its vastness, continues to grow in vast proportions. As the largest exporter in the world it has also begun to focus more acutely on its own infrastructure to support its growing population and production demands. For example, it has become the leading investor in renewable energy surpassing the U.S. and Europe. This prosperity and drive for growth is capsulated in fiberglass manufacturer Jushi, who this week celebrated its 17th Annual International Conference on Fiberglass in Tongxiang City, China.
Nearly 1,000 guests (representing 98 countries) convened on Jushi’s main lot for the Opening Ceremony where they were addressed by delegates from surrounding provinces as well as corporate leaders from around the world.
Jushi CEO Yuquing Zhang reflected on the meager beginning of the company when, nineteen years ago Jushi began as a small company. Now in 2011, it supplies 90,000 metric tons of fiberglass to customers around the world, making it the largest fiberglass manufacturer in China and second in the world, and supplies to industries ranging from automotive, wind energy, construction, marine, electric and aerospace. According to Zhang, he expects to double production over the next five years by focusing on technical innovation both internally and by teaming with local universities.
At a press conference held later that day, Zhang addressed a growing crowd on the company’s accomplishments in 2011 and his forecast for 2012. “After the recent economic crisis, our finances are getting better and better. However, in the second half of the year, changes in the market due to slowed growth in the U.S. and the debt crisis in the EU brought uncertainty,” he says. “I think the Chinese economy is not optimistic. We are facing problems of inflation and a restriction on materials and resources.” Zhang explained that new government regulations are stricter, making it harder for quality growth.