In the face of unprecedented global changes, understanding economic trends and where growth opportunities lie has never been more crucial. To navigate and thrive in these uncertain and challenging times, businesses need to understand the economic landscape, technological innovation, energy transition, and investment opportunities.
To shed light on these topics, Cheung Kong Graduate School of Business (CKGSB) and the British Chamber of Commerce in China, with support from the Swiss Chamber of Commerce in China, co-organized the 8th Economic Symposium on 18th June 2024 at CKGSB’s Beijing campus. The symposium convened policymakers, economists, business leaders and academics to share their insights on China’s economic development, as well as the prospects that lie ahead for the world’s second-largest economy.
The symposium concentrated on business confidence, challenges and opportunities in China’s economy, highlighting what’s next for China’s real estate sector and domestic consumption—which once were powerful drivers behind the country’s economic growth, but have recently faced challenges. The symposium also shed light on the role of investments in infrastructure, high-tch manufacturing and clean energy in re-igniting China’s economic growth.
After welcome remarks from Ira Zaka, CKGSB’s Associate Director of Global Marketing and Communications, the school’s Dean, Dean’s Distinguished Chair Professor of Finance and Director of the Family Business Research Center Li Haitao delivered the symposium’s opening keynote speech. Next, Yu Yongding, Academician at the Chinese Academy of Social Sciences and Member of the National Planning Expert Committee of the National Development and Reform Commission, gave an insightful speech on China’s economic transformation and opportunities for growth. While Li Wei, CKGSB Professor of Economics and Associate Dean of Asia and Oceania, shed light on confidence in China’s economy by drawing on his impactful survey, the Business Conditions Index (BCI), that has been gauging confidence in the economy among China’s private business sector since 2011.
At the symposium, Sir Danny Alexander, Vice President of Policy and Strategy at the Asian Infrastructure Investment Bank (AIIB), shared AIIB’s climate commitment and vision in addressing the climate crisis and mobilizing private capital in China as well as globally.
The symposium also featured practical insights from industry leaders, such as Gao Yong, Vice President of Bayer (China); Guan Shaoqing, Executive Vice President of Strategy at Mercedes-Benz (China) Investment Ltd.; and Mao Xuzhi, Vice President of Government Affairs and Corporate Communications for Hitachi Energy. The discussion also drew on diverse perspectives from think tank and media groups represented by Robert Xiao, Director for Beijing at the Economist Intelligence Unit (The Economist Group); Xu Qiyuan, Researcher and Deputy Director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences; Eleanor Olcott, China Technology Correspondent for the Financial Times; and John Johnson, CEO of CRU China.
In her closing remarks, Rachel Tsang, Managing Director of the British Chamber of Commerce in China, emphasized the value of the symposium’s discussion in helping navigate China’s regulations and priorities, enabling both foreign and Chinese businesses to thrive and remain competitive, amidst the dynamic transformations the country is going through.
