[Canton Fair Story] Liu Bingyao: Innovation Becomes an “Engine” for the High-Quality Development of Private Enterprises

Recently, the 125th Canton Fair was held in Guangzhou. Private enterprises became main exhibitors. They are facing the blue ocean of high-quality development, capturing opportunities for further development.

“Canton Fair is a platform for our product display and export. It has greatly promoted our business development,” said Liu Bingyao, Executive President of Guangdong Master Group Co., Ltd. (abbreviated as “Master Group”).

As an “old acquaintance” of the Canton Fair for nearly 30 years, Master Group has also moved from the former Liuhua Exhibition Center to the current Pazhou Complex. In 1989, Master Group, formerly a small rubber and plastics factory, participated in the Canton Fair. According to Liu, the Canton Fair is a beacon light for changing Master Group’s development track. At the Canton Fair, Master Group keenly captured the market signal of high-end kitchen and cookware manufacturing.

“Innovation is a fundamental road for enterprise development.” Liu upholds that the development and growth of enterprises are inseparable from the “development engine” of innovation. From OEM (original equipment manufacturer) to OBM (original brand manufacturer), Master Group adheres to independent innovation, and has established industry-university research cooperation with universities and research institutes such as Tsinghua University and Guangdong University of Technology. Then in 2018, it got the approval to set up a national post-doctoral research station and a PhD workstation in Guangdong Province, thereby laying a solid foundation for its high-quality development. At present, the group has developed a new type of antibacterial material, which can effectively inhibit the production of bacteria, and can be widely used in kitchen utensils, containers, etc. It is expected that this series of products can be launched in the market in 2020.

The development strategy of independent innovation has won the market for Master Group. Its home appliances, stainless steel kitchen utensils, and aluminum kitchenware are exported to more than 100 countries and regions around the world. In particular, European and American markets account for 80% of its overseas market share. Since 2016, the group’s market share in countries and regions along the “Belt and Road” has remained stable at around 15%.

“In the future, we intend to establish cooperation with high-end scientific research institutions in the Guangdong-Hong Kong-Macau Greater Bay Area, and gradually improve the manufacturing and innovation level of our products.”