CKGSB Professors Ou-Yang Hui and Zhou Chunsheng addressed the challenges and opportunities of China’s financial industry and the role of Internet Finance at the 17th World Knowledge Forum (WKF) in South Korea. It was the third consecutive year that CKGSB joined the prestigious forum as a knowledge partner.
Professor Ou-Yang Hui gave a lecture on China’s financial market at
the CKGSB MBA session, held as part of the 17th World Knowledge Forum in Seoul
Global society is undergoing drastic changes in many areas, ranging from politics and ideologies to economics and industries, prompting economists to say that the Fourth Industrial Revolution has arrived. In such a tough age, sharing insights for innovation is the best way to adapt to the rapid and unpredictable changes in order to ensure future survival.
As the leading business school in China, CKGSB recently shared knowledge about the present and future of China’s financial industry in this era of change, as renowned faculty members Professors Ou-Yang Hui and Zhou Chunsheng spoke at the 17th World Knowledge Forum (WKF) in Seoul, the largest forum of its kind in Asia. It was the third consecutive year that CKGSB has joined the prestigious forum as a knowledge partner.
On October 12, CKGSB held its exclusive MBA session where Dean’s Distinguished Chair Professor Ou-Yang Hui delivered a lecture themed ‘China’s Financial Market: Risks and Opportunities’. Around 100 Korean financial industry professionals and researchers attended his early morning session, seeking objective and in-depth insights about the rapidly-changing Chinese financial market and the latest trends.
Prof. Ou-Yang named China’s heavy reliance on the banking industry as a source of financing as one of the core problems of its financial market, as the volume of non-financial companies’ non-performing loans (NPL) has risen rapidly, while the slowing economy has worsened the banks’ soundness. “The Chinese government has to succeed in its reform initiatives of encouraging businesses to go for equity financing as a means of deleveraging and of fostering the bond market,” he said. Prof. Ou-Yang also highlighted Internet finance as one of the new opportunities in today’s China. “Internet finance is more significant than ever in China’s financial market, which is succeeding while catering to smaller companies and individuals, who previously had no access to financial services.”
CKGSB Professor Ou-Yang Hui’s session was packed with
Korean financial experts from industry and academia.
Meanwhile, CKGSB Professor of Finance Zhou Chunsheng took part at the ‘Future of Finance and Busan as a Hub of Finance’ panel discussion on October 14, which was part of the very first regional WKF session held in the Korean port city of Busan. It was his second straight year to take part in the WKF. Prof. Zhou suggested fintech development strategies for Busan by elaborating on China’s Internet finance as a successful example, alongside other speakers such as Martin Stanley, global head of Macquarie Infrastructure, and Don Tapscott, CEO of the Tapscott Group.
Professor Zhou Chunsheng (above right) delivered a speech and took part in
a panel discussion at the first regional session of the WKF in Busan
Supporting Busan’s recent initiatives to fostering the fintech industry, the panelists suggested that the Korean government should further focus its policy capabilities on Busan to develop Busan as a new global financial hub. In particular, Prof. Zhou advised that Korea should foster Internet finance and utilize financial capabilities to fund other sectors or individuals, who haven’t been serviced by more traditional financial institutions.
More than 300 people listened to the first WKF Busan session,
in which CKGSB Professor Zhou Chunsheng participated
Established in 2000, the WKF brings together global leaders to address the importance of knowledge in meeting the challenges and opportunities of a rapidly changing world. Along with CKGSB professors, some 230 speakers from across the world joined the 17th WKF including Gerhard Schroder, Former Chancellor of Germany, and Dick Cheney, Former Vice President of the United States, to discuss the year’s main theme ‘Aiming for Great Instauration.’
About 3,000 people from public and private sectors as well as academia and the media attended the four-day sessions, which were designed to explore innovative and entrepreneurial responses to the new growth challenge.
For further information about the WKF 2016, please click here.