From now on,the column of“Struggle Across the Ocean”is launched to tell the story of CNGR’s international pioneers and show the spirit to struggle from CNGR’s employees to live up to the great era and pursue their dreams.
On April 28th 2022,PT.Zhongtsing New Energy,a subsidiary of CNGR,signed a$120 million loan cooperation agreement with Bank Central Asia(BCA)in Indonesia.This is the first loan of hundreds of millions of dollars from Bank Central Asia to the new energy materials industry,and CNGR is the first Chinese company to obtain bank financing before the industrial base starts the operation.As the project leader,Chen Xin,the Deputy General Manager of International Investment and Financing Center,is also the first person to invest and finance in Indonesia in the history of CNGR’s international business development.
Many“first people”continue to promote the rapid development of CNGR,and the rapid development of CNGR has also shaped many“first people”.Chen Xin’s pioneering journey to Indonesia started in November last year and has never stopped ever since.
Opening a New Chapter of Business
As the“outpost”of CNGR,the International Investment and Financing Center is also the key to the success of CNGR’s internationalization strategy.
However,the road to enter the overseas investment and financing market is far more difficult than expected.Cultural and language differences,limited resources and other challenges have set many hurdles for CNGR’s internationalization strategy.These challenges have require Chen Xin to explore a set of effective rules:when enterprises go abroad,the investment and financing environment has changed dramatically so they must change their way of thinking,jump out from the traditional domestic investment and financing ideas,and quickly and deeply implement local regulations.
Looking back at the financing project of BCA,Chen Xin has taken local management and operation to seek support from project-related parties.He also had to dock with international standards,hired local professional investment and financing teams,improved communication mechanism in the department,implemented local economic development and long-term development plans,formed a virtuous cycle of sharing project development dividends with project sites and investors,and still has to achieve a win-win situation for all five parties:local government,partners,investors,the company,and employees.It is by relying on these favorable conditions and the right strategy that Chen Xin and his team were able to obtain the support of BCA even before the industrial base in Indonesia starts its operation.
CNGR’s international financing has always focused on the concept of“green,environmental protection and sustainable”and high standards,and has completed green bonds and Green-Related Syndicated Loan with excellent partners in a short period of time.The initial difficulties such as language barrier,unfamiliar environment and limited resources are no longer as insurmountable as mountains in Chen Xin’s opinion,which is growth.
Embracing Diversity and Respect Local Culture
In the international headquarters of CNGR,Chen Xin and his colleagues from different countries,cultures,backgrounds,concepts and functions spent less than a year to complete the transformation of CNGR going abroad from 0 to 1,creating a new record for new energy companies in Indonesia’s investment and financing market.
When he first came to Indonesia,Chen Xin also experienced a painful period in adjusting with local employees.“Indonesians are very different from Chinese in terms of research methods and thinking logic.Moreover,Indonesians is a bit leisurely while Chinese is a bit quick temper,so at the beginning,they don’t understand each other in many aspects.”Usually,they take the approach of trying both options to find the best solution to the problem.After a complete project and frequent internal cross-cultural meetings,colleagues from both sides would sit down and talk face-to-face about each other’s work.
Chen Xin found that he and his Indonesian colleagues actually complemented each other in their research work.“I have a more efficient approach to my work and research,while my Indonesian partners have a greater empathy and cultural understanding of local users.It’s all about finding the balance so that everyone can work and get along in a more comfortable way.”
“Entering a new cultural system,Chinese managers and local employees need to come to that point of contact where they can tolerate and understand each other.In Chen Xin’s opinion,“following rules”and“embracing diversity”are both indispensable in team management.
Firm Belief Without Forgetting the Original Intention
From Director of Financing Department to Assistant General Manager to Deputy General Manager of International Investment and Financing Center,talking about the conversion of positions along the way,Chen Xin said:“No matter what position or identity,when it is my turn,I just do it and grow at the same time.”On the path of international investment and financing business,Chen Xin reflects on his work,focuses on the goal and moves forward firmly.
If we compare investment and financing to an unarmed rock climbing,the process of climbing is not to overcome difficulties,but to get used to them.As long as we are persistent,the path is always upward.In Chen Xin’s overseas pioneering journey,getting used to difficulties and firming beliefs are the norm.He went to the front line of Indonesia and led the team to work every bit,from the beginning of Southeast Asia project to the point where now CNGR Equity Financing Team has footprints all over the world.
Chen Xin once said:“To do overseas investment and financing projects,we have to have the spirit of Don Quixote.”Rooted in Indonesia and thousands of miles away from home,we need to have a touch of personal heroism to dream.When we stop,have self-doubt,or when we are feeling tired of not being understood,we can still remember the mission we carry and the original intention we had when starting.
CNGR Advanced Material Co., Ltd.
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