捷安特：中国制造时代已经结束

choi

赵婉成, 全球单车龙头捷安特：中国制造时代已经结束. VOA Chinese, June 18, 2019
https://www.voachinese.com/a/bic ... 190618/4963534.html
("以捷安特 [Giant] 单车为主要行销品牌的巨大 pGiant] 机械公司董事长杜绣珍星期一（6月17日）接受彭博新闻社采访")

is summarized translation of

Cindy Wang, World's Top Bicycle Maker Says the Era of 'Made in China’ Is Over. Bloomberg, June 17, 2019
https://www.bloomberg.com/news/a ... e-in-china-is-over.
("Giant Manufacturing Co * * * Chairwoman Bonnie Tu said in an interview at Giant's Taichung City headquarters in Taiwan")

Note:
(a) 江明晏, 巨大首位女性董座 杜(繡)珍扛下捷安特招牌. 中央社, Dec 16, 2016
https://tw.news.yahoo.com/巨大首位女性董座-杜-繡-珍扛下捷安特招牌-062609830--finance.html
("巨大董事長劉金標、執行長羅祥安同步退休，今天董事會通過新任董事長與執行長人事案，新任董事長由現任巨大執行副總裁兼財務長、劉金標外甥女杜(繡)珍出線，劉金標獨子劉湧昌接任執行長")
(i) I am clueless about why there is parenthesis around 繡. I search Taiwan's websittes, some of which identify her as 綉, while some others as 秀.
(ii) "「綉」為「繡」之異體。"  教育部異體字字典, undated.  
http://dict.variants.moe.edu.tw/ ... code=QTAzMTgwLTAwMQ
(iii) 執行長
https://zh.wikipedia.org/zh-tw/首席执行官
("英語：Chief Executive Officer，縮寫為CEO；香港稱行政總裁；臺灣稱執行長；中國大陸稱首席執行官")
(b) "Li & Fung's chief executive officer * * * CEO Spencer Fung"
(i) Li & Fung Limited 利豐有限公司 (1906- ; based in Hong Kong)
(ii) CEO Spencer Fung 董事總經理馮國綸 (利豐主席為馮國經)
e.”

Li & Fung’s chief executive officer echoed Tu’s sentiments, saying China became the factory to the world because it is so efficient in producing goods. Sourcing became very easy, CEO Spencer Fung said in a presentation in Hong Kong on Monday.

“They just put all their eggs in the China basket because the Chinese are very capable,” said Fung. Now, “the trade war is basically forcing people to rethink their entire global sourcing strategy and to diversify away from China.”

Giant shares soared 9.8% on Monday for their biggest gain ever, after the company said it expects a quarter of its revenue this year to come from e-bikes. The stock retreated 3.5% in trading Tuesday. Li & Fung jumped 7.3%, the most in three months, in Hong Kong Tuesday.

Giant’s willingness to quickly steer orders away from China -- long regarded as the world’s low-cost workshop -- has been noticed by investors and analysts. The stock, which doesn’t carry a single sell rating from brokerages tracked by Bloomberg, has climbed more than 70% this year to the highest level since 2015, after four straight years of declines.

Share price of Giant almost doubled over the past year, outperforming Taiex

Giant’s global brand awareness and flexible manufacturing are key to avoiding tariff risks, Daiwa analysts Helen Chien and Anita Li wrote in a June 5 report, in which they initiated coverage of Giant with an outperform rating.

Tariffs are adding $100 on average to the price of bicycles made in China and exported to the U.S., compared with those made in zero-tariff areas, Tu said, explaining the rationale for the switch to the Taiwanese site.

The switch, however, comes with higher costs for employee payouts, automation and no China-like economy of scale for suppliers. Tu declined to peg the relocation costs beyond saying the company’s “bottom line would be better without the U.S.-China trade war.”

That’s why Giant is open to reverting production to its Chinese plants if the U.S. and China are able to hammer out a trade deal. If America “decides to remove the 25% tariff, we will move the production back to China right away,” Tu said.

— With assistance by Daniela Wei

(Updates stock action.)