The red bean group announced recently that since the first half of this year, the development speed of the domestic textile and garment industry has been affected by various factors, such as RMB appreciation and raw materials rising. However, the group has gone against the market, focusing on innovation, creating excellence and accelerating pformation and upgrading. It has achieved leaping development and maintained a 31% growth rate.

It is learnt that the pformation of the red bean group focuses on two aspects: first, the pformation from production and operation to creation and operation; and the two from asset management to capital operation.

Zhou Haijiang, President of red bean group, explains that creation refers to technology research and development, and operation refers to brand network.

In recent years, the red bean group has made great efforts to develop R & D and network construction, and achieved remarkable results.

In 2007, for example, the red bean group applied for 125 patents, of which 14 were invention patents and converted all patents into industrial production.

This year, the production and research work of the red bean group has been steadily promoted. It has participated in the Wuxi Beijing, Shanghai and Nanjing science and technology direct trains respectively, and has declared several innovative projects to the state and Jiangsu province successively.

In terms of network construction, the five major brand chain monopoly system of the red bean group has been initially formed.

Zhou Haijiang also said that the development of the economy requires that the red bean group should pay more attention to the operation of tangible assets from the past to the capital operation. That is to say, we must attach importance to the integration of industry and finance, attach importance to asset securitization, and attach importance to the input and output of patents, technology and intangible assets.

In May 21st, the red bean group's financial company was approved by the China Banking Regulatory Commission (CBRC). This also marked the substantial development of the red bean group in capital operation.

It is reported that the official operation of the red bean group financial company will play an important role in fund management, financing and financing, financial value added, industrial upgrading and so on.