FutureChina Global Forum 2017
|1015hrs – 1100hrs||
|1100hrs – 1330hrs||
Welcome and Opening Luncheon
Opening Speech by Keynote speaker:
Speech by foreign keynote speakers:
CHEN Deming 陈德铭, Standing Committee Member of the Chinese People's Political Consultative Conference, President of China's Association for Relations Across the Taiwan Straits, People's Republic of China
LAN Tianli 蓝天立, Standing Member of the CPC Guangxi Regional Committee and First Vice Governor of Guangxi, People’s Republic Chin
ZHANG Jie 张杰, Vice President, Chinese Academy of Sciences, People’s Republic of China
|1400hrs – 1515hrs||
1 - Opening Plenary Session
The government seems now to have stabilized the economy on a course of achieving the official growth target of about 6.5% for the year. However, this comes at the price of maintaining or even amplifying the distortions and imbalances in the economic structure, as no major reform – especially in the SOEs domain – is happening and stimulus measures to sustain activity continue in many cases to reflect an allocation of resources which is not the most efficient. At the same time, the economy continues to remain very vulnerable to financial risks, which are today a key concern for the leadership, and to possible external shocks such as trade frictions with the US and/or Europe.
CHEN Weidong, General Director of institute of international finance, Bank of China Group.
HU Biliang, Director, the Belt and Road Research Institute (BRRI); Dean, Emerging Markets Institute, professor of Economics, Beijing Normal University, People's Republic of China
Yukon HUANG, Senior Fellow, Asia Program, Carnegie Endowment for International Peace, United States of America
Chris LEUNG, Executive Director and Senior Economist, DBS Bank, Hong Kong SAR
Tommy XIE, Head of Greater China Research, OCBC Bank, Singapore
|1515hrs – 1530hrs||
|1530hrs – 1645hrs||
2 – Plenary Session
Since the Belt & Road Initiative (BRI) was announced in 2013, China has been seeking cooperation across the BRI geographical spread of 65 countries and which spans numerous languages, cultures, economic and political systems. In the process, the initiative has pushed Chinese companies to expand outside of China and become globally competitive. China’s ambition to expand her global standing and influence through the BRI, is not expected to slow down. Individuals and businesses should not ignore this economic wave arriving in various regions along the B&R, including Southeast Asia, South Asia, as well as other emerging markets like Africa and Central Asia.
Sergey ANASHKIN, Executive Director, KTZ Express JSC, Republic of Kazakhstan
Setyono Djuandi DARMONO, President Commissioner, PT Jababeka TBK, Indonesia
REN Dongyan, General Manager, China Construction Bank Singapore branch, Singapore
Pisit SEREWIWATTANA, President, Export-Import Bank of Thailand (EXIM Thailand), Thailand
TEO Eng Cheong, CEO International (Singapore, Southeast Asia, North Asia), Surbana Jurong Pte Ltd, Singapore
|1700hrs – 1815hrs||
3 – Plenary Session
With its huge scope and ambitious objectives, the Belt and Road Initiative has the potential to be a game-changer on the global economic and geopolitical scene. It has raised great expectations in the 65 countries included in the initiative. However, there is no underestimating the complexity of the project and its challenges as the initiative encompasses countries with different levels of economic sophistication, different cultures and ways of doing business, and different socio-political contexts. Despite Beijing’s assurances that the initiative is a win-win project, there are also a number of concerns about how the initiative will play out in terms of benefiting not only Chinese companies – many of whom having to address huge over-capacity problems - but also the companies of the countries along the Road and Belt Initiative.
Yaseen ANWAR, Senior Advisor, Industrial and Commercial Bank of China (ICBC), Singapore
FENG Da Hsuan, Director of Global Affairs and Special Advisor to Rector, University of Macau, Macau SAR
TEO Siong Seng, Chairman, Singapore Business Federation; Managing Director, Pacific International Lines Pte Ltd, Singapore
WANG Congyuan, Director of Guotsing Holding Group Co., Ltd; Executive Director and CEO of CNQC International Holdings Limited, People's Republic of China
WANG Yin, Rotating Secretary General, China International Council for the Promotion of Multinational Corporations (CICPMC), People’s Republic of China
|1815hrs – 1930hrs||
End of Day 1
|0845hrs – 1015hrs||
4 – Plenary Session
Will the accession of Donald Trump to the White House mark a turning point in the US-China relationship? And what could be the impact of the changes in the relationship on the Asia-Pacific region? The relationship between Washington and Beijing appeared to have come under strain during the Obama administration as a result of increasing trade frictions as well as of serious divergences with respect to Beijing’s territorial claims on - and actions in - the South China sea. The situation has become even more complex between the US and China as the level of concern has risen concerning North Korea’s aggressive initiatives. There is also some uncertainty about how President Trump fundamentally sees the future of the relationship and the role that the US intends to continue to play in the Asia-Pacific region.
CHAN Heng Chee, Ambassador-at-Large, Ministry of Foreign Affairs, Singapore
Clyde PRESTOWITZ, President, Economic Strategy Institute, United States of America
SHI Yinhong, Director, Center on American Studies, Renmin University of China, People's Republic of China
|1015hrs – 1030hrs||
|1030hrs – 1145hrs||
5A - Panel Discussion
2017 has been shaping up as a challenging year for the leadership given many contradictory pressures and priorities: The economy has seemingly stabilized around a 6.5% GDP growth course, but systemic financial risk has become a major concern with the ratio of debt to GDP now at more than 280% , the rising level of dubious corporate loans and the central or local governments having to keep injecting money in zombie SOEs that have not been shut down, lest this would create social unrest. Huge capital outflows have forced Beijing to put in place some capital controls to defend the Yuan, a move Beijing would have preferred not to have to take in view of its objective of making the Yuan a major international currency.
CHU Gang, Chief Operating Officer, China International Capital Corporation, People's Republic of China
Yukon HUANG, Senior Fellow, Asia Program, Carnegie Endowment for International Peace, United States of America
LAU Teck Sien, Partner and CIO, HOPU Investments, Singapore
Paola SUBACCHI, Senior Research Fellow, Global Economy and Finance, Chatham House, United Kingdom
5B - Panel Discussion
While China’s economy has entered a new era of slower growth, consumption continues to grow at quite a healthy pace – way above the GDP growth rate - and the Chinese consumer is increasingly becoming a key factor of the country’s economic life and of its growth prospects. This reflects the rapid rise of the middle class which is expected to comprise about 400 million people by 2020, and also the government policy to shift from exports to domestic consumption as a growth driver. Many key changes happening at the same time are reshaping China’s consumer scene: The spectacular expansion and increase of E-commerce and the growing role of the mobile phone for settling transactions; the changes in the country’s demographic structure, creating a new field of needs to be fulfilled given the rapidly aging population; the new aspirations of a middle class and of the Millennials looking more and more for quality, sophistication and the “experience factor”.
HE Xiaopeng, President, UCWeb Inc; President, Alibaba Mobile Business Group, People's Republic of China
David LI, Chairman & CEO, YY Inc., People's Republic of China
SUN Ying (HeiYu), CEO & President, Hangzhou Jiuyan Technology Co., Ltd, People's Republic of China
Andrew TAN Yi, COO, GoFun, People's Republic of China
|1200hrs – 1345hrs||
6 - Plenary Lunch
The urban population today accounts for about 56% of the total global population, up from 34% in 1960, and continues to grow, concentrating in the less developed regions of the world. This rapid urbanization is putting tremendous pressure to create smart city solutions without which the urbanization trend would be a source of increasing social problems, economic inefficiency, pollution and a waste of valuable resources. Creating smart cities is becoming increasingly crucial for sustaining and even accelerating economic growth, enhancing environmental sustainability and improving the quality of life for the people. Developing the next generation of transport, whether it is electric cars or driverless cars will be a crucial element of smart city solutions as well as the ability to leverage on the IOT for traffic management.
ZHANG Junyi, Founding Partner, NIO Capital, People’s Republic of China
|1400hrs – 1530hrs||
7 – Plenary Session
Fostering new growth sectors has been a priority for the Chinese leadership over the last few years as a key element in the strategy of shifting the country to a new economic model is to be less reliant on traditional industries. IOT activities rank very highly among the new growth sectors but they are not alone. Some new services sectors are also booming now, among them the so-called “happiness industries” of tourism, culture, sports, health, and elderly care which have become a hot bed for new companies and new consumption hot spots. In the same way, logistics, e-commerce, financial services have been expanding their share of GDP. Start-ups are now a steady source of new jobs and increase in incomes with almost 5 million new jobs created since the beginning of this year.
Thomas WEE, CEO, Nufin Data Pte Ltd, Jing King Tech Group, Singapore
ZHANG Guobiao, Chairman, Forchn Holdings Group & EC World REIT, People's Republic of China
ZHANG Junyi, Founding Partner, NIO Capital, People's Republic of China
ZHAO Hejuan, Founder & Chief Executive Officer, TMT Post, People's Republic of China
|1545hrs – 1700hrs||
8A – Panel Discussion
The amounts of investment considered for the implementation of the Belt and Road Initiative are quite staggering. The estimates for infrastructure investment alone go up to US$ one trillion. The initiative will help address Asia’s pressing needs for infrastructure development and could provide a significant source of financing since the ADB estimates the needs for investments at US$ 1.7 trillion per year for the next 15 years. However, the notion initially held that China would be able to provide most – if not all – of the financing are now proving to be unrealistic. The country’s economy is now in a “new normal” while financial risks have increased significantly given the rise in doubtful loans and having to monitor the volume of foreign reserves to ensure no further hemorrhage.
Rana KARADSHEH-HADDAD, Country Manager, Singapore, International Finance Corporation, Singapore
LIANG Haiming, Chairman and Chief Economist of China Silk Road iVally Research Institute, People's Republic of China
Audra LOW, Head of Origination and Structuring, Clifford Capital, Singapore
PANG Yee Ean, Director General, Investments, Asian Infrastructure Investment Bank, People's Republic of China
Roy TAN, Head of Wholesale Corporate Banking, OCBC Bank, Singapore
WANG Wei (Steve), Managing Director and Deputy Head of Research, Bank of China International (BOCI), People’s Republic of China
8B – Panel Discussion
Positioning China as a smart manufacturing country is a priority by Beijing with the “Made in China 2025" initiative set to move the Chinese industry up the technology and value-added ladder, similar to Germany's "Industry 4.0" plan. The goal is to make Chinese industry innovation-driven, more efficient and integrated so that it can occupy the “commanding heights” of the economy with the objective of raising the domestic content of core components and materials to 70% by 2025. The initiative highlights 10 priority sectors: 1) New advanced information technology; 2) Automated machine tools & robotics; 3) Aerospace and aeronautical equipment; 4) Maritime equipment and high-tech shipping; 5) Modern rail transport equipment; 6) New-energy vehicles and equipment; 7) Power equipment; 8) Agricultural equipment; 9) New materials; and 10) Biopharma and advanced medical products.
Georges HAOUR, Emeritus Professor of Technology & Innovation Management, IMD, Switzerland
WANG Ge, Supervisor, Chinese Academy of Science Holdings Co Ltd, People's Republic of China
Derrick XIONG, Co-Founder and Chief Marketing Officer, EHang Inc, People's Republic of China
Edmund XU, CEO & GM, NVC Lighting Global Markets and Singapore Regional Office, People's Republic of China
|1700hrs – 1715hrs||
|1715hrs – 1830hrs||
9A – Panel Discussion
The 19th Congress of China’s Communist Party is the seminal event for this year in China with political maneuvering and the preparations for the Congress impacting events in the country. Of special importance is the context in which the Congress is taking place, with China being confronted with a set of unprecedented economic challenges i.e. a lower GDP growth rate, a debt-to-GDP ratio now at 280%, and capital outflows. On the international front, with Donald Trump at the White House the US-China relationship is in a much more volatile and tense era, with trade and economic frictions looming ahead and the crisis in the Korean peninsula threatening to degenerate at any moment. The outcome of the Congress will provide some crucial indications about China’s future course.
Kerry BROWN, Professor of Chinese Studies and Director of the Lau China Institute, King’s College London, United Kingdom
Richard HU, Professor of Political Science, Head of Department of Politics and Public Administration, University of Hong Kong, Hong Kong SAR
Michael KOVRIG, Senior Adviser, North East Asia, International Crisis Group, Hong Kong SAR
9B – Panel Discussion
Foreign companies in China are increasingly frustrated by what they see as a deterioration of the conditions for their activities. The last survey of AMCHAM Beijing indicates that more than 80% of US companies feel less welcomed in China than in the past. There are concerns about the impact of the domestic innovation policy which could gradually exclude foreign companies from high-tech sectors; about the Manufacturing in China 2025 (Made in China 2025) initiative which would put foreign companies at a disadvantage vis à vis Chinese companies in key industrial sectors; about the new cyber security law which will increase costs for MNCs because they will have to rely on Chinese servers data relating to the country’s citizens instead of on their Headquarters servers and which could put their intellectual property at risk by allowing the government to demand access to their computer sourcing codes. Europeans and Americans may also be exasperated by the lack of reciprocity between the conditions granted to Chinese companies in their countries and the ones given to US and European companies in China.
Alan BEEBE, President, American Chamber of Commerce in China, United States of America
Nick COYLE, Executive Director & CEO, China-Australia Chamber of Commerce in Beijing, People's Republic of China
George LAU, Vice President, European Chamber of Commerce in China, People's Republic of China
Ivan Kwang Ping LEW, Chairman & CEO, Shaw Holdings Pte Ltd, Singapore
Nina YANG, Chief Executive Officer, Sustainable Urban Development, Ascendas-Singbridge, Singapore
|1830hrs – 1900hrs||
|1900hrs – 2130hrs||
10 – Business China 10th Anniversary Celebration, Business China Awards Presentation 2017 and FutureChina Global Forum Closing Gala Dinner