UNITED STATES, November 15, 2023 /EINPresswire.com/ — Before founding CBiBank, Jiangtao Sun had been an entrepreneur for twenty years, successfully establishing five companies, four of which were acquired by major corporations, including the listed company Cdc Corporation(Nasdaq：CHINA) and the internet giant Meituan. In 2013, China Binary New Fintech Group, founded by Jiangtao Sun, went public on the Hong Kong Stock Exchange with the stock code 8255.HK.
As a serial entrepreneur in the internet and financial technology fields, achieving continuous entrepreneurial success is no coincidence. Jiangtao Sun believes that luck, the era, and personal effort all play a role in this. Prior to entrepreneurship, in 1999, Jiangtao Sun served as the General Manager of the Multimedia Business Unit at the Clever Soft Company(CSC). While providing services to users, he realized that traditional remittance methods could not meet the needs of online payment and collection for users and companies. This led him to conceive an internet-based payment system to address this issue, which propelled him into the payment field and subsequently led to the founding of his first company, Shidai Jiecheng Information Technology Co., Ltd.
In 2006, Shidai Jiecheng was acquired by Cdc Corporation for 20 million US dollars. In 2004, Jiangtao Sun founded his second company, Shenzhou Pay, which went public in Hong Kong in 2013 with the company being named China Binary New Fintech Group(08255.HK). In 2008, he founded his third company, Qiandaibao, which received strategic investments from Haitong Securities, IDG Capital, among others in November 2014; subsequently, it was fully integrated into Meituan-Dianping in 2016. Jiangtao Sun has his own understanding about selling companies, stating, “The success of a company and its ability to generate returns for investors are important measures. Moreover, a good selling price is the result of the entrepreneur’s negotiation skills, and being acquired also depends on the entrepreneur’s strength.”
Throughout his entrepreneurial journey, Jiangtao Sun continuously pondered “the purpose of entrepreneurship.” “First, it’s about changing one’s fate, and making money is definitely the primary goal. Second, it’s about enjoyment and fun. Between these two goals, I prefer the enjoyment that entrepreneurship brings, the excitement of creating new business models.” Even though the process of entrepreneurship has been enjoyable for him, Jiangtao Sun sets high standards and demands for himself, “Entrepreneurship has three requirements: firstly, the market in the industry should be sufficiently large, which means selecting the right direction. Secondly, things should be done to perfection. Thirdly, one should engage in long-term endeavors, not just focus on the present.”
When discussing how to find entrepreneurial opportunities, Jiangtao Sun believes that “on one hand, one must maintain a strong curiosity for new things to gain firsthand experience and research information, rather than holding biases. On the other hand, one must experiment, as internet products need rapid iteration.”
Adhering to these principles, after 2016, Jiangtao Sun discovered an unmet market demand: cross-border settlement needs for international trade enterprises, especially small and medium-sized businesses. After realizing this market gap, Jiangtao Sun founded the American commercial bank, CBiBank, and spent three years leading the team to build barriers for cross-border financial business. The bank gradually acquired international banking, payment, wealth management, financial services, trust, insurance, and other financial licenses, establishing a robust safety, compliance, and risk control team.
After years of growth, CBiBank has become a leader among emerging international commercial banks and an explorer of new models for international banks under the trend of economic globalization, with business operations spanning over 160 countries and regions globally, serving over 100,000 corporate clients and providing new financial technology services with global asset allocation at their core.
Looking back at his 20-year entrepreneurial career, Jiangtao Sun fully acknowledges the saying “any individual effort appears insignificant in the face of the tide of the times,” stating, “Following the trend will lead to smooth sailing, while going against the trend often leads to achieving nothing.” In the era of financial globalization, CBiBank has never ceased refining its products, overturning, improving, and upgrading, committed to providing customers with the ultimate experience, which aligns with Jiangtao Sun’s long-standing entrepreneurial philosophy: doing the right things will make the right things better.
Cecilia XU
CB INTERNATIONAL BANK LLC
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