Through the transition from a mainly export-led and investment dependent economic system to more an economy based more on domestic consumption, 6-7% growth has become the ‘New Normal’ for the Chinese economy. To adapt to the rapidly-changing situation, corporations are seeking new solutions and management methods to stand out in today’s competitive environment.
As a leading business school of China, CKGSB addressed the importance of knowledge in meeting the challenges and opportunities of this fast change with its renowned faculty members, Professors Teng Bingsheng and Zhou Chunsheng at the 16th World Knowledge Forum (WKF) in Seoul, the largest business forum in Asia.
Zhou Chunsheng, Professor of Finance at CKGSB, gives a lecture at the WKF 2015 CKGSB MBA session
On October 21, CKGSB held its exclusive MBA session, at which the school was introduced as one of the top three business schools in China along with Peking University and Tsinghua University. Professor of Finance Zhou Chunsheng delivered a lecture themed “The Liberalization of the Financial System and the Development of Internet Finance in China,” which captivated an audience of around 100 people, including industry leaders and scholars taking part in the CKGSB MBA session to attain in-depth insights about China’s economy and the latest trends.
Prof. Zhou said that China’s financial market has encountered a “lack of trust”. “While the economy has been growing so rapidly, the market economy is still at an early stage and information and regulations for investment are not enough to get trust from investors.” Then he also highlighted the new trend of ‘Progressive Liberalization’ in China. “The government is making efforts to reform the Chinese financial system through the interest rate liberalization and this effort will be continued with progressive national policies.”
At the end of the session, insightful questions were posed by those in the audience and further knowledge was shared among participants.
A packed room takes notes during CKGSB Professor Zhou Chunsheng‘s leccture.
Meanwhile, CKGSB Associate Dean and Associate Professor of Strategic Management Teng Bingsheng took part in the “Beyond Silicon Valley: Secrets to Startup Success” panel discussion on October 22, alongside Michael Brecht, CEO of Doodle, Den Huan Hooi, Director of Nanyang Technopreneurship Center, Joseph Foo, Chairman of Jason Marine Group and Mike Herrington, Executive Director of Global Entrepreneurship Monitor.
Teng Bingsheng, Associate Dean and Associate Professor of Strategic Management at CKGSB, delivers a speech at a WKF 2015 panel session on October 22, 2015
The panels discussed entrepreneurship for Asian venture businessmen and the government’s role after their individual presentations that covered the current status and trend of the Asian startup environment. Professor Teng Bingsheng shared his insight about technology leadership and challenges that Chinese startups are facing, such as business reformation.
“Without technology innovation, a lot of Chinese startups have adopted a copycat strategy that imitates the overseas companies’ advantages and gradually tailors them to the local market,” said Professor Teng. But he also commented that the situation is changing rapidly, with leading Chinese companies focusing on the importance of intellectual property right.
The session was successfully wrapped up in front of a gathered audience of 300, which was one of the most popular panel sessions of this year.
More than 300 people gathered to share insight at a WKF 2015 panel session
Established in 2000, the WKF has been providing a platform for high-level discussions of creative innovation to help bridge the perception gap. Under the heading “Mapping the Zeitgeist,” the 16th WKF convened more than 3,000 participants from enterprise, government, school and media for three day-long sessions designed to explore innovative and entrepreneurial responses to the new growth challenge with a multinational audience.
For further information about the WKF 2015, please click here.