Lenovo's purchase of IBM's PC business at the end of 2004 was unquestionably considered a bold move and a striking symbol of China's economic globalization. "With this realignment, we have successfully merged IBM's R&D resources and established a well-rounded mechanism to sharpen our competitiveness in technological renovation," he said, adding, "We will continue to advance into the overseas markets, such as Latin America. We are also willing to help other domestic enterprises ‘go out' by dint of our experience."
Some people expressed doubts that the looming economic downturn in the US would affect Lenovo's business. Yang offered his analysis, "The US market is not the whole picture. Our market is still rooted in China and we focus on PC business, so there is still much room for us to maneuver."
As the consumer prices continue to surge, concerns are rising that the giant company will suffer huge losses. However, Mr. Yang explained that Lenovo's global sourcing of raw materials as well as frequent technology updates help protect the company from price swings in the short term.
When the interview drew to an end, he commented on the reform and opening up policy as this year marks its 30th anniversary. "If China hadn't embraced the policy, there would be no Lenovo and I would have become another person," he put it in an abrupt and sentimental way.
Profile of Yang Yuanqing
Born in 1964, Yang Yuanqing is currently chairman of the board of Lenovo Group Limited. Prior to assuming his current position, he was the president and chief executive officer of Lenovo. Mr. Yang joined Lenovo in 1989 and became CEO in 2001.
(China.org.cn by staff reporter He Shan, March 12, 2008)