中国日报香港9月13日电 中国日报亚洲领袖圆桌论坛于13日在亚洲协会香港中心举办题为“解读数字时代:中国的智能经济”的专题研讨会。五位来自商界、学界的精英与逾百位参会者一同探讨了科技如何推动产业转型与融合,“互联网+”背景下智能经济发展趋势等议题。 中国日报邀请到长江商学院创办院长、中国商业与全球化教授项兵先生、联款通创办人及行政总裁陈永祥先生、昊诚集团电子商务服务总管Peter Greenhill先生、百度国际总经理何建邦先生、香港科技园公司行政总裁黄克强先生等五位来自中国内地、香港及欧洲的演讲嘉宾。五位嘉宾背景各不相同,既有学术机构,又有商业机构;既有本土企业,亦有跨国公司;有些专注于某一业务板块,有些则多元化发展,他们基于不同视角,与大家分享经验与看法。 中国是世界上最大的数字经济体,使用各种电子设备已成为七亿人的日常习惯。电子设备作为人们主要的信息来源及交易终端,渗透日常生活的方方面面:包括购物、出行、旅游、金融、娱乐、新闻、社交等。在企业投资与政府主导这一双重驱动下,中国的发展因“互联网+”等战略而日新月异。移动互联网、云端运算、大数据等,与传统行业不断融合,带动经济增长,促进电子商务、互联网金融行业的繁荣,更推进了互联网企业的国际化。以上实践、政策与知识如何助力中国的智能经济发展?中国的智能经济对香港、亚洲及世界有何启示? 长江商学院创办院长、中国商业与全球化教授项兵先生于主题发言中表示,互联网正不断改变着世界,放眼上海及深圳交易所,逾五分之一的上市公司都与互联网有关。他相信在目前的市场环境下,中国电子商务、互联网金融等相关业务大有可为。中国企业进军全球市场时,需关注国际营商环境,方能拓展业务,赢得尊重。 香港科技园公司行政总裁黄克强先生表示,在这一信息爆炸的时代,科技会持续改变人们的生活及思考方式,但香港如欲建设“智能经济”,任重而道远。不仅要提升科技创新意识,也需加大投资力度。香港在科技开发方面的投入占本地生产总值(GDP)不足1%,远远落后于中国内地、韩国、新加坡,仅为深圳相关投资比例约五分之一。未来二十年,“物联网”概念将不断普及,他期待香港与时俱进,成为科技先锋。 百度国际总经理何建邦先生认为,中国内地在智能经济方面有诸多突破性的创举,发展举世瞩目,众多互联网公司已渗透进大众衣食住行的各个方面,电子设备成为人们的亲密伙伴。跨国公司可将香港作为桥梁,根据大众需求,做本地化尝试。无论是金融、旅游、购物还是公共交通方面,一点小的突破都可能带来大改变。 联款通创办人及行政总裁陈永祥先生认为,网络曾经只是销售产品的渠道,现在人们可以在网上建立品牌、进行全渠道营销,可靠的支付工具更是令他们如虎添翼,完成各种复杂交易。从业者可以通过不断尝试与创新,为业务来更多便利,也促进商家与顾客的沟通与理解。 昊诚集团电子商务服务总管Peter Greenhill先生表示,科技的进步是一柄“双刃剑”:它令银行缩减分行、实体商店关闭、中介机构裁员,但同时,科技也创造了新的就业岗位、减少运作开支、降低风险,并提升了客户体验,令众多行业吐故纳新。 中国日报社拥有报纸、网站、移动客户端、脸谱、推特、微博、微信、电子报等十余种媒介平台,全媒体用户总数累计约4100万;发行量90万份,其中海外60万份;网站日均访问量5200万,全球移动客户端用户达600万;在海外,通过每月发行400余万份海外供版的《中国观察报》(China Watch),直达《华尔街日报》、《华盛顿邮报》、《每日电讯报》、《费加罗报》、加拿大《环球邮报》、泰国《民族报》等美、欧、亚主流读者群。 中国日报亚洲领袖圆桌论坛(www.cdroundtable.com)是一个由亚洲国家和地区的政、商、学界领袖和社会精英参与的高端对话和交流平台,围绕亚洲地区经济、商业、产业和社会发展等具有战略影响的重要议题展开讨论,至今在港、澳和亚太多国已经举办了近50届,逾万名决策精英参与。 (编辑:党超峰) Source: http://cn.chinadaily.com.cn/2016-09/13/content_26787382.htm
2016-09-14Enterprises must embrace digitization, connectivity and localization to compete amid the three main waves surrounding global economies — neo-liberalism, globalization and democratization of information — according to panelists on the Asian Leadership Roundtable “Defining the Digital Era: China’s Smart Economy”. During the roundtable co-presented by China Daily and Asia Society Hong Kong Center, various academics and e-business practitioners were invited to share their views on how companies can formulate business strategies to compete in the digital services sector in Asia. Xiang Bing, founding dean and professor at Cheung Kong Graduate School of Business’ (CKGSB) China Business and Globalization, said the underdevelopment of the mainland services sector and the deregulation and digitalization of the mainland economy is creating business prospects for companies. “The services sector only accounts for 50 percent of the mainland’s GDP — far below that of the United States, the European Union and Japan. Also, there are up to 40 sectors on the mainland that remain to be deregulated,” Xiang said, adopting a positives tone on the mainland economy when delivering the keynote speech. “Approximately 25 percent of the companies listed on the Shanghai and Shenzhen exchanges are internet-related. There is a large number of people using the internet, so there are plenty of positives for digitization of the economy on the mainland,” Xiang said. The Chinese mainland is the world’s largest digital economy, with some 700 million people using a myriad of digital devices and applications on a daily basis to access information and conduct transactions covering online shopping, transport, tourism, financial services, entertainment, media and social networking. Besides embracing digitization, industry practitioners must also adopt a localization strategy to compete, panelists said. “E-commerce service providers must learn to use consumer data and information on behavior in order to improve customer services,” said Frankie Ho, general manager at Baidu International, a mainland web-searching services company. “Given the huge size of the mainland market, only the leading service providers in the mainland can still make a living in the second- and third-tier mainland cities.” Companies must pay attention to connectivity as well, according to Albert Wong, CEO at Hong Kong Science and Technology Parks Corporation (HKSTP), a government-statutory body to promote technological innovation in Hong Kong. “The sequence of data-information-intelligence unleashed by connectivity is the future trend of digitization. The ability to connect various intelligences can propel the growth of sensor technologies that can be applied in the biomedical industry such as DNA analysis and personalized medication,” Wong said. Joseph Chan, the founder and CEO of AsiaPay, an electronic payment solution provider for 11 Asian countries, noted that enterprises should strive to provide more added value in the process of service delivery. “The digitization of payments should not just stop at making seamless transactions. Service providers should strive to provide a whole set of financial experience under a single basket. When customers use the mobile platform, they can also arrange a loan, check their personal finance history and access wealth management products,” Chan said. CKGSB’s Xiang, a professor dedicated to developing the mainland’s management education sector, said companies must formulate clear e-business strategies if they strive to expand in the mainland market. “Mainland companies are getting more sophisticated and possess so much money to buy technologies and brands from Western economies such as Germany and Japan. If you want to compete in the mainland market, you have to do your homework,” Xiang cautioned. The prospects for the mainland’s digital economy are positive, and Hong Kong can also play a pivotal role in this digital economy, the panelists agreed. “Hong Kong has to drive the growth of the digital economy for its survival, as the local economy is not doing well. Driving the technology sector is the next step,” HKSTP’s Albert Wong said. “Spending on research and development in Hong Kong accounts for less than 1 percent of the city’s GDP. We need to raise awareness to change this situation — and this is a long journey,” Wong added. “Hong Kong is an integral part of the global village — a worldwide better-connected communication system which is reshaping the economy at an accelerating pace,” financial services provider Equiom Group’s head of e-Business Peter Greenhill reckoned. “The process will create new companies and jobs while reducing costs and risks.” CKGSB’s Xiang suggested e-commerce companies should formulate their business strategy at a higher level. “In the era of smart economy, innovation and entrepreneurship need to go beyond wealth creation. We need more people to innovate for interest, responsibility and solving global problems,” he said. Source: http://www.chinadailyasia.com/2016-09/15/content_15496028.html
2016-09-14Hong Kong has great fundamentals to develop innovation technology and the industry will continue to progress along with an evolving mentality and atmosphere, according to Albert Wong, CEO of Hong Kong Science and Technology Parks Corporation. Innovation technology is crucial to Hong Kong as it delivers economic benefits, provides jobs, and creates more technology in the city, Wong said on the sidelines of a China Daily roundtable in Hong Kong on Tuesday. Wong also referred to the Global Innovation Index 2016 Report, published by Cornell University, INSEAD and WIPO on Aug 15, in which Hong Kong ranked 14th while Singapore ranked sixth. In 2013, Hong Kong ranked seventh in the Innovation Index; in 2014, 10th; in 2015, 11th. This shows the city is declining in terms of innovation. And despite ranking second globally in terms of “innovation input”, which measures talents, government policy and infrastructure, when it comes to “innovation output”, which measures creativity, innovation products and commercialization, Hong Kong ranks 25th. Wong believes the report proves that Hong Kong has good fundamentals to develop innovation technology, while students and young people in Hong Kong are strong in studying science, technology, engineering and mathematics. “But are they really dedicated to innovation technology? Maybe not; we need to help them,” Wong said. The mindset will change gradually, he said, adding that the fundamentals are there and the knowledge is there, while an innovation shift really starts with society, the culture, parents, and finally the general atmosphere. Wong pointed out that the biggest thing for Science Park to do to boost the innovation technology industry is to build an ecosystem and encourage research and innovation development using Science Park or other areas as the venue. “In Science Park we want people to come and interact and to work with each other. Currently we have 13,000 people and 610 companies working in the Science Park; we connect all these people, we let them collaborate and then we catalyze the innovation.” Wong said his advice to the younger generation is that they should just go after their dreams. “What you think is best for you, you should just go after that. There are opportunities in the innovation and technology industry, and if this is something you like to do and it is your passion, go after it. I have seen many people going after their dream.” In terms of the government, Wong said it has done a lot of work in promoting innovation and technology. But he added there is always room to provide more opportunities for promoting new technologies, while keeping an open mind will further enable startups and small companies to develop such technologies. sophiehe@chinadailyhk.com Source: http://www.chinadailyasia.com/2016-09/15/content_15496030.html
2016-09-14Smart Economy in Full Swing in China China Daily Forum – “Defining the Digital Era: China’s Smart Economy” SEP 13, 2016, Hong Kong – China Daily Asia Leadership Roundtable held a special forum themed “Defining the Digital Era: China’s Smart Economy” on Tuesday, Sep 13, 2016 at the Asia Society Hong Kong Center. China is the world’s largest digital economy, with some 700 million people using a myriad of digital devices and applications on a daily basis. Digital devices have become major sources of information and terminals for transactions, covering online shopping, transport, tourism, financial services, entertainment, media and social networking. The driving forces behind these phenomenal changes are enterprise investment as well as government leadership on initiatives, such as Internet Plus, which integrates the Internet, including mobile Internet, cloud computing and big data, with traditional industries to fuel economic growth, and encourage the healthy development of e-commerce and Internet banking along with the global expansion of Internet companies. The panelists, who hailed from local and international companies, discussed how behavior, policies and knowledge can help develop or reshape China's current economy into a smart economy; as well as the implications of China’s smart economy for Hong Kong, Asia and the world. Dean Xiang Bing, Founding Dean, Professor of China Business and Globalization, Cheung Kong Graduate School of Business said in the keynote speech that he would “stick to his guns and be optimistic about the economy” as he’d been proved wrong so many times. “We have some advantages in entering the digital economy,” he said, not least because the “government has been promoting Internet Plus since at least 2014.” He believed that “for China’s business to succeed globally, even be respected globally, we need to take on global problems.” “(Hong Kong) plays a very pivotal role in helping the economy in China,” said Mr. Albert Wong, Chief Executive Officer, Hong Kong Science and Technology Parks Corporation. Rather than expanding the size of the Hong Kong Science Park, Wong said he would rather build a virtual science park – and “that is what we’re doing,” he added. Wong emphasized Hong Kong has to have technology innovation, not just because we want to have it, but also because we have to have it, in order to survive. “Customers are more and more demanding,” said Mr. Frankie Ho, General Manager, Baidu International, pointing out that one way of solving this is to learn from the data collected. “I think now we’re not talking about digitalization,” said Ho, but about moving what we already have (business-wise) onto into mobile technology, like phones etc. Mr. Joseph Chan, Chief Executive Officer, AsiaPay Limited believed digitization of payments will eventually become seamless. “The Internet used to be where the manufacturers sell their products, but now people set up their own brands online. Moreover, the payment tools become smarter, so that the e-retailers know their customers better.” Mr. Peter Greenhill, Head of EBusiness, Equiom Group Europe sees the digital revolution as a double-edge sword. “Technology caused the closing of branches of banks, shops and agencies; but it is replacing jobs, reducing costs, risks, and increasing the user experience.” -- The end --
2016-09-14"The passion to apply technology in the financial world drove me to boldly start an e-payment business,” Joseph Chan, CEO of AsiaPay, said at the China Daily Asia Leadership Roundtable. The founder of AsiaPay, a premier electronic payment solution and technology vendor and payment service provider, recounted that he had been thinking about how to apply technology in the financial world since his college years at Monash University, Australia, where he received Bachelor of Computer Science and Master of Economics degrees. Chan went on to serve in management positions at Barings, Citibank, Bank of America and Dah Sing Bank. During those years working in financial institutions, he accumulated technical and management experience in systems as well as product design and development. But Chan always kept in mind his original passion for using technologies to enhance financial products for consumers. And when he decided to give up his stable banking job and start up his own business in 2000, the concept of e-payments was quite new and without any proven business model. Meanwhile, Hong Kong had just gone through the dot-com bubble. During 1995 to 2001, stock markets in industrial nations saw their equity value rise rapidly from growth in the internet sector and related fields. By early 2000, reality started to sink in and the dot-com dream had devolved into a classic speculative bubble. “It was really a challenging decision to found the e-payment business,” Chan admitted. By 2003, the global economic downturn and the SARS outbreak were severely affecting commercial activity in Hong Kong, while at that time his company was still largely unknown and lacked enough funding support. Hence, business in the first three years was not as good as expected. Nevertheless, the company grew from a one-man band to a dedicated team. Chan praised the persistence and hard work of the team in continuing to improve their platforms and products. AsiaPay expanded its client base from merchants only to include banks. This was a turning point which helped the company to increase its cash flow and vastly improve its products. In 2005 the company broke even and was able to realize the ambition of expanding to open branches outside Hong Kong. Currently, according to Chan, AsiaPay has over 60 percent of the market share in the local e-payment industry and has become the top payment service provider in Southeast Asian countries such as the Philippines, Thailand, Singapore and others. AsiaPay is also a pioneer in providing e-payment service on the Chinese mainland. Now AsiaPay is an accredited payment processor and payment gateway solution vendor for banks, a certified Internet Payments Service Provider (IPSP) for merchants, and a certified international 3-D Secure vendor for Visa, MasterCard, American Express and JCB. It offers a variety of solutions that are multi-currency, multilingual, multi-card and multi-channel, together with its advanced fraud detection and management solutions. Comparing AsiaPay’s business advantages with those of its competitors, Chan emphasized the comprehensiveness of the company’s payment products, the participation of banks in Asia, and its technological ability in platforms and security management as well as comprehensive local operation coverage. Recently, Apple Pay entered into the Hong Kong market. Chan said he sees Apple Pay more as a collaborator than a competitor — AsiaPay provides payment processing solutions that support Apple Pay, so their relationship is like that of “collaborative competitors”. Chan said the company’s most urgent target currently is to increase the pace of expansion to cover not only Asia but also other global markets. Regarding the development of fintech in Hong Kong, Chan said that innovation never stops and technology is improving every second. He believes Hong Kong has the most stable telecom infrastructure and advanced financial systems to support the fintech industry and the development of startups. tingduan@chinadailyhk.com Source: http://www.chinadailyasia.com/2016-09/15/content_15496029.html
2016-09-07To say we are living in uncertain times is a massive understatement. With words and phrases like Brexit, terrorism, economic slowdown and climate change popping up almost every day in the news, it is no surprise that they were also brought up at the 13th ASEAN Leadership Forum. “There is so much uncertainty around the world that it will impact the Association of Southeast Asian Nations’ progress,” said Suthiphand Chirathivat, former dean of the faculty of economics at Thailand’s Chulalongkorn University. Held in conjunction with the 28th ASEAN Summit in Vientiane, the capital of Laos, the leadership forum saw government, business, academic and civil society leaders come together to take stock of ASEAN and map out the region’s future. The forum was organized by Malaysia-based think-tank the Asian Strategy & Leadership Institute, in conjunction with the Lao National Chamber of Commerce and Industry and the Lao Ministry of Industry and Commerce. If it is not to get hemmed in, the ASEAN bloc must move forward as one — now more than ever. “Peace, security and stability are prerequisites for growth,” said Cambodian Prime Minister Hun Sen, in a special address he delivered after receiving the ASEAN Lifetime Achievement Award, along with Malaysia’s Deputy Prime Minister Ahmad Zahid Hamidi, and Myanmar’s State Counselor Aung San Suu Kyi. Unfortunately, the elements the Cambodian prime minister sees as necessary for growth are in short supply around the world at the moment. Weighing in on the terrorism issue was Nasharudin Mat Isa, CEO of the Global Movement of Moderates Foundation, an anti-extremism organization. “How do we counter it? The most important effort must be in encouraging community participation so that no one feels left out and isolated by society.” Pointing towards Brexit, Ton-Nu-Thi Ninh, president of the Ho Chi Minh City Peace and Development Foundation, advised on drawing lessons from there and not repeating the same mistakes. “Be careful of protectionism and do not be inward looking,” she said. Indeed, it is imperative that ASEAN as a bloc should rise together on the tide, rather than compete with each other. “Think about how to work with countries outside ASEAN too,” suggested Jonathan Choi, chairman of the Hong Kong-headquartered conglomerate Sunwah Group. Before that can be done, however, it was repeatedly highlighted that there is a gap that needs to be bridged between how the man on the street views the concept of ASEAN and its political leadership. “True integration can only happen if all the people of ASEAN come on board,” said Ninh of the Peace and Development Foundation. “One way is to get young people from the different countries to work together on startups in different sectors, such as the arts, tourism and research.” This was echoed by Thai academic Chirathivat: “We need to give them a sense of ownership.” Other issues that dominated the forum were linked to micro, small and medium enterprises (MSMs). “How do we bring up the status of MSMs from every nook and cranny of society?” asked Mustapa Mohamed, Malaysia’s Minister of International Trade and Industry. In 2014, such businesses dominated ASEAN economies in terms of their share of total establishments and employment — between 88.8 percent and 99.9 percent, and 51.7 percent and 97.2 percent, respectively. However, their share of total exports remained small at between 10 percent and 29.9 percent. Looking ahead, questions need to be asked about what type of leadership is required to take ASEAN into the future. Three points on the topic were raised by Denison Jayasooria, principal research fellow at the Institute of Ethnic Studies, National University of Malaysia. “Firstly, they need to be able to analyze the challenges of our time with critical honesty. Secondly, they need to foster policies for a sustainable development model. Thirdly, there must be a strategic institution of effective implementation mechanics at the national and regulatory levels.” As long as economic development is the end goal, he said, he was confident that challenges could be overcome. Offering a businessman’s perspective to the discussion was Robert Yap, executive chairman of Singaporean logistics business YCH Group. He pointed out the business community’s aversion to uncertainty, and the importance of integration, low trade barriers and increased connectivity. “The cost of any inefficiency ultimately goes to the man on the street,” Yap said. “If you are a business, make sure you don’t get caught sleeping. Always be open to change and ready for it.”
2016-08-12In 1991, dialogue relations between ASEAN and China were stablished, paving the way for greater collaboration and cooperation between both parties. Twenty-five years on, remarkable progress has been made. Among a long list of achievements, surely the most significant must be how China has been the largest trading partner of the Association of Southeast Asian Nations for the past seven consecutive years, while ASEAN has been China’s third-largest trading partner for five years running. Last year, the trade value exceeded $472 billion, while tourist numbers and student exchanges surpassed 23 million and 190,000, respectively. These facts and figures were highlighted by Yang Xiuping, secretary-general of the ASEAN-China Center, when she spoke at the China Daily co-organized leadership roundtable, which focused on the Chinese mainland, Hong Kong and ASEAN growing together for shared prosperity. Held in Vientiane, Laos on Aug 7, the session was part of the 13th ASEAN Leadership Forum and themed ASEAN Community: Enhancing Opportunities and Shared Prosperity. “Our political mutual trust is constantly deepened, economic ties are closer than ever, and people-to-people exchanges have borne rich fruits,” said Yang. “The ASEAN-China cooperation has not only brought about tangible benefits to nearly 2 billion people, but also made important contributions to peace, development and prosperity in East Asia,” she said. The ASEAN Leadership Forum is organized by the Asian Strategy & Leadership Institute, a Malaysia-based think-tank, and co-organizers this year were the Lao National Chamber of Commerce and Industry, and the Ministry of Industry and Commerce. The event was held in conjunction with the 28th ASEAN Summit that takes place in the Lao capital next month. The forum’s forward-looking viewpoint examined the opportunities and challenges faced by the 10-member bloc, while calling for closer economic integration and connectivity. In her speech, Yang spoke about the huge potential, and broader prospects, created between ASEAN and China. These are built upon a foundation that includes adoption of the Plan of Action of 2016-2020, which charts the future course of relations, an upgrade to their free trade agreement (FTA), and the pushing forward of the Belt and Road Initiative. Proposed in 2013, the initiative aims to build a new economic maritime and land Silk Road. “All these achievements inject new impetus into ASEAN-China relations,” said Yang. “During the ASEAN-China Foreign Ministers’ Meeting (in June in Kunming, Southwest China’s Yunnan province), both sides reached new consensus on deepening cooperation in an all-round way.” She made suggestions on how to move forward against the backdrop of the global economy’s sluggish recovery and increasing downward pressure for regional countries. Further alignment is necessary between China’s 13th Five-Year Plan and the ASEAN Community Vision 2025, she said. The latter’s aim is to create a “more rules-based, people-oriented, people-centered” ASEAN community. Her five-point proposal encompassed comprehensive development of trade in goods, services, economic and technological cooperation; strengthening production capacity cooperation to facilitate industrial transformation; promoting connectivity and carrying out more pilot projects by fully utilizing the Asian Infrastructure Investment Bank (AIIB) and Silk Road Fund; promoting cooperation among the six Lancang-Mekong River countries; and enhancing people-to-people exchanges, while laying a more solid foundation for relations. Building upon this, George Yeo, the Singaporean chairman of Hong Kong-listed Kerry Logistics Network, said there is an immense opportunity within the next 30 years to bring ASEAN to first-world status with the help of China. He remembered a trip in 1983 to visit his grandparents in Shantou, in South China’s Guangdong province, when the country was “desperately poor”. The picture today, three decades later, is in stark contrast. “China is progressively integrating its neighbors in ever-widening circles,” Yeo said. “This tide will continue to flow, easily for another 20 years. This tide is like the water level rising — it will flow down (south) and if we capture the water, all of us will be lifted.” He recalled hearing Chinese President Xi Jinping announcing the Belt and Road Initiative in September 2013. Back then, Xi expressed his desire to see bilateral trade between ASEAN and China increase from $200 billion in 2012 to $1 trillion by 2020. To achieve that, said Yeo, there will be a need for infrastructure, financing, FTAs, ease of travel and good relations. “But if that 2020 goal is achieved, and further goals set and achieved, all of us in ASEAN will be propelled by this new China trade into the first world.” Lending an alternative perspective was Abdul Majid Khan, the president of the Malaysia-China Friendship Association and Malaysia’s former ambassador to China. He said the collaboration between ASEAN and China is definitely beneficial to all, but to varying degrees. Still, the relationship has developed comfortably. “Over the years, the leaders have played a role to help this mutual trust and confidence develop from a zero base,” Khan said. “As an ASEAN dialogue partner, China is a latecomer, but since then it has put forward initiatives and programs (such as the Belt and Road Initiative and AIIB) that will be catalysts to move us forward.” “We are all committed to understanding that a peaceful external environment is important for development,” said Khan. Hong Kong was represented at the session by Gregory So, secretary for commerce and economic development. Offering insights into the special administrative region’s role, he called it a “super connector”. “We are like the point guard in a basketball team,” he said, referring to the player who controls the ball and makes sure it gets to the correct players at the correct time. “We connect people to one another and help them to cross over and leverage on their strengths. Our central location — nine hours to Beijing and five hours to Shanghai by express rail — also puts us in a good position.” Case in point: In 2014, Hong Kong ranked second globally in terms of inflow and outflow of foreign direct investment (FDI). Last year, its FDI inflow was again second in the world, amounting to $175 billion. As the secretary in the Hong Kong Special Administrative Region’s government who travels the most, So has been exposed to the industry, culture and diversity of ASEAN. “It has the richest tapestry of culture and creativity that, together, can really build a lot of new industries,” he said. “I really believe in integration; this is what we all need.” In a step closer to that integration, So said the Hong Kong-ASEAN free trade agreement negotiations will be completed this year. “It’s going to open up the markets even further,” he said. “I don’t believe in imposing barriers but in working together and helping each other move in the same direction to score.” Already, without the FTA, the two regions share close economic ties. ASEAN is Hong Kong’s second-largest trading partner, the fourth-largest export market and an important destination for investment. In 2015, Hong Kong-ASEAN trade volume exceeded $100 billion. Hong Kong has signed bilateral civil aviation agreements with all 10 ASEAN countries. Every week about 200 ships connect Hong Kong and major ports in ASEAN. Yang, of the ASEAN-China Center, is also optimistic about this relationship. She said it is expected that Hong Kong and ASEAN shall give full play to their respective advantages, explore cooperation in infrastructure, logistics, finance, insurance and law services, “and enhance people-to-people exchanges in education, culture, youth and tourism, so as to further deepen mutual understanding and friendship among the people”. However, as much as the painted picture is pretty, there is no avoiding the smudge in the corner. Khan took pains to point it out: The South China Sea territorial dispute. “The issue is hanging over both sides. But we need to move forward and handle it so that it is not overblown,” Khan said. “I’m confident that with wisdom on both sides, it will be well managed.” Social and environmental challenges were also raised, and during the question-and-answer segment the speakers were asked for suggestions on how to mitigate them. “That’s why we need summits and meetings to address these problems and solve them. The better we are at managing these complications, the faster we can grow. If we can’t manage these problems, we have to slow down,” said Kerry Logistics’ Yeo. “The China tide is creating problems all over the world because of its speed of flow. It’s become so disruptive,” he said. But in the interest of shared prosperity, it is pertinent that these problems be overcome. Yang put it aptly when she said: “ASEAN and China shall, as always, uphold mutual respect, mutual understanding, mutual trust and mutual support, work for more enriched and deepened development of bilateral relations and forge a closer community of common destiny.”
2016-08-12The outcome of Brexit is expected to be catastrophic for Britain, and the price paid will be substantial for a very long time, David Dodwell, executive director of Hong Kong-APEC Trade Policy Study Group, told a roundtable forum on Friday in Hong Kong. Dodwell told China Daily that it is not the phenomenon of Brexit that will worry investors, it is that Brexit is the product of a rather disturbing political and social development that is occurring across a large number of economies. If the malaise continues to get worse, it will hurt all of us, Dodwell warned. Brexit is a setback for a lot of aspects of the British economy, Dodwell said. He mentioned that the UK will have to face the substantial challenge of renegotiating trading agreements with other countries and regions; meanwhile, the situation will make it very difficult for labor to move around Europe. “People moving around is positive to the economy, as labor can match their skills against needs,” he explained. But Dodwell pointed out that China is a stabilizing force for the world, and he believes that the British government as well as British companies are hoping that despite the difficult situation they have created, still the buoyant companies from China can create jobs and help stabilize things in the UK. “From a bilateral point of view, I see China beneficially impacting the UK to help them in a rather difficult situation. I don’t see the UK has such powerful influence over China, since China is a much bigger economy.” He said that going forward, the best thing that the Chinese mainland can do is to continue to grow, focusing on stimulus economic growth. As a large economy like the Chinese mainland grows steadily, small and specialized economies like Hong Kong will continue to benefit from it. Dodwell warned that it is irrational to talk about shutting the doors to the Chinese mainland due to the anxiety and depression that people have been feeling from economic setbacks, as a free flow of business can only be beneficial to Hong Kong people. He suggested that there are some things that the central government can do to help Hong Kong, such as inclusion of more mainland cities into the Individual Visit Scheme. Mainland residents who are not eligible to apply for the endorsement under the visiting program have to come to Hong Kong in groups, Dodwell said. “Think about it, when tourists have to move in groups, they are very noticeable and will attract a lot of attention,” he said, adding that if they come as couples or families they will be less noticeable and likely to spend more, which will help tourism and the retail industry in the city. Source: http://www.chinadailyasia.com/2016-08/02/content_15471808.html
2016-07-29中國日報亞洲領袖圓桌論壇探討英國「脫歐」影響 2016年7月29日,香港–英國「脫歐」事件震動全球經濟,中國日報亞洲領袖圓桌論壇特舉辦題為「英國脫歐對中國與亞洲經濟的影響」的專題研討會,五位來自商、學界的精英將從環球視角與逾200位金融界業業內人士展開分析與對話。是次論壇由香港大學專業進修學院企業研究院協辦。 英國新任首相文翠珊及內閣保證,「脫歐」後英國將一如既往參與國際事務,但其與主要貿易夥伴如中國及亞洲其他國家的關係仍迷霧重重。「脫歐」將影響英國與歐洲乃至世界多國的貿易協定,對亞洲來說,亞歐自貿協定首當其衝,中國與香港市場亦受波及。英國作為香港在歐盟的第二大貿易夥伴,佔香港往歐洲投資總額(FDI)的65%。「脫歐」事件將對香港、中國與亞洲經濟產生何種影響,又將帶來哪些機遇與挑戰? 為深入探討以上議題,中國日報邀請到來自亞洲不同國家和地區的五位演講嘉賓:前海創新研究院院長陳坤耀教授、香港-亞太經合組織貿易政策研究集團執行董事兼公共政策顧問杜大偉先生、英國駐香港總領事館英國貿易投資署總裁賀頌雅女士、中國銀行(香港)有限公司經濟研究處主管謝國樑先生和亞洲策略與領導研究院創始人兼首席執行官丹斯裡楊元慶。 五位嘉賓立足亞洲經濟的不同層面,剖析「脫歐」事件對香港、中國與亞洲經濟產生的影響。 前海創新研究院院長陳坤耀教授從宏觀和微觀的角度分析了當下時局,他認為英國脫歐後將會有更多經濟發展機遇,這也將惠及中國。 香港-亞太經合組織貿易政策研究集團執行董事兼公共政策顧問杜大偉先生指出英國脫歐的結果將是災難性的,在很長一段時間內付出的代價將是巨大的。 英國駐香港總領事館英國貿易投資署總裁賀頌雅女士表示英國脫歐後,英鎊的貶值將會給英國的投資業帶來更多機遇。 中國銀行(香港)有限公司經濟研究處主管謝國樑先生表示香港與英國的經濟關係將会更加緊密,並且香港的離岸人民幣中心地位也會得到加強。 亞洲策略與領導研究院創始人兼首席執行官丹斯裡楊元慶認為英國脫歐引起了整個世界的不安,歐盟的發展模式及英國的「脫歐」事件也為我們重新思考區域一體化進程提供了實例。 中國日報社擁有報紙、網站、移動客戶端、臉譜、推特、微博、微信、電子報等十餘種媒介平臺,全媒體用戶總數累計約4100萬;發行量90萬份,其中海外60萬份;網站日均訪問量5200萬,全球移動客戶端用戶達600萬;在海外,通過每月發行400餘萬份海外供版的《中國觀察報》(China Watch),直達《華爾街日報》、《華盛頓郵報》、《每日電訊報》、《費加羅報》、加拿大《環球郵報》、泰國《民族報》等美、歐、亞主流讀者群。 中國日報亞洲領袖圓桌論壇(www.cdroundtable.com)是一個由亞洲國家和地區的政、商、學界領袖和社會精英參與的高端對話和交流平臺,圍繞亞洲地區經濟、商業、產業和社會發展等具有戰略影響的重要議題展開討論,至今在港、澳和亞太多國已經舉辦了40餘屆,逾萬名決策精英參與。 中國日報今天(07.29)舉辦題為「英國脫歐對中國與亞洲經濟的影響」的專題研討會,圖為論壇現場。 --完--
2016-07-29Pundits Gather for China Daily Forum “Economic Impact of Brexit on China and Asia” JUL 29, 2016, Hong Kong – As turbulence hit global financial markets in the aftermath of Britain’s decision to quit the European Union, China Daily Asia Leadership Roundtable held a special panel discussion on the “Economic Impact of Brexit on China and Asia” today at HKU SPACE Executive Academy, Admiralty Learning Centre, Hong Kong. The forum, co-organized with HKU SPACE Executive Academy, featured five distinguished speakers from the UK, China and Asia. They discussed Brexit’seconomic impact on China and Asia, the strategic challenges ahead, as well as future business opportunities, for Hong Kong, the Chinese mainland and Asia with more than 200 government officials, consul generals, and industry elite from Hong Kong and abroad. While Prime Minister Theresa May and her new cabinet have assured the world that Britain will continue to be a global player after leaving the European Union, the UK's future relationship with its key trading partners, such as China and the rest of Asia, is fraught with uncertainties. Brexit is bound to affect Britain’s dozens of trade pacts with Europe and the world, including the EU-Asia Free Trade Agreement, not to mention those with China, Asia and Hong Kong. Britain has been Hong Kong’s second-largest trading partner in Europe, accounting for about 65 percent of the SAR’s investments in Europe. Mr. Zhou Li, Editorial Board Member of China Daily Group of Publisher & Editor-in-Chief of China Daily Asia Pacific welcomed the distinguished speakers from across Asia, including Prof. Edward K.Y. CHEN, President, Qianhai Institute for Innovative Research; Mr. David DODWELL, Executive Director, Hong Kong-APEC Trade Policy Study Group; Ms. Jo HAWLEY Director of Trade and Investment, Hong Kong and Macau, British Consulate-General; Dr. TSE Kwok Leung, Head of Policy & Economic Research, Bank of China (Hong Kong) Limited; Tan Sri Dato’ Dr. Michael YEOH, Co-Founder and Chief Executive Officer, The Asian Strategy & Leadership Institute (ASLI). Prof. Edward K.Y. CHEN, President, Qianhai Institute for Innovative Research, is confident that after Brexit. “Britain will have more economic opportunities, which also benefit China”, said Prof. Chen. However,Mr. David DODWELL, CEO, Strategic Access Limited; Executive Director, Hong Kong-APEC Trade Policy Study Group,says that the outcome of Brexit will be catastrophic, and the price paid will be substantial for a very long time. Ms. Jo HAWLEY, Director UK Trade and Investment, Hong Kong and Macau, British Consulate-General, analyzed the world economic situation after Brexit; and she believes depreciation of Britain pounds after Brexit provide opportunities for investment in Britain. Mr. TSE Kwok Leung, Head of Economics & Policy Research, Bank of China (Hong Kong) Limited, mentioned that Hong Kong's economic relations with the UK should be much tighter than before and its position as offshore RMB center will also be strengthened. Tan Sri Dato’ Dr. Michael YEOH, Co-Founder and Chief Executive Officer, The Asian Strategy & Leadership Institute (ASLI), shared his insights from a regional perspective. He saidBrexit increased global uncertainties and the European Union has been a model for us to rethink regional integration. More than 200 government officials, consul generals, and industry elite from Hong Kong and abroad attended the forum. --The End--
2016-07-29Britain’s exit from the European Union (EU), known as Brexit, though raising uncertainties across the world, also signals a “new beginning” that will bring more investment opportunities and closer ties with Hong Kong, the Chinese mainland and Asia, experts and researchers told a roundtable forum in Hong Kong on Friday. Brexit, which triggered a sharp depreciation of the British pound against major currencies including the renminbi, will reduce risks for Chinese companies to do business in the UK, said Jo Hawley, director of trade and investment of British Consulate General Hong Kong. Brexit a ‘new beginning’ Jo Hawley, director of trade and investment of British Consulate General Hong Kong. (Photo by Edmond Tang / China Daily) Buyers from China will find it cheaper to invest in UK properties, she said, adding that Chinese tourists and students will spend less when visiting and studying in the Western country. “The depreciation of the British pound after Brexit is already providing opportunities for investment in Britain,” Hawley told the forum themed “Economic Impact of Brexit to China and Asia”, organized by China Daily Asia Pacific. By July 3, 10 days after Britain’s referendum on whether to leave the EU, the British pound had dipped more than 10 percent, from 9.84 yuan ($1.48) per pound to 8.83 yuan. “In the long term, leaving the EU means that the UK will be free to sign its own trade deals with other countries, such as a free trade agreement with China,” Hawley added. Tse Kwok-leung, head of policy and economic research at Bank of China (Hong Kong) Ltd, believes Brexit will be beneficial to Hong Kong, as relations between the two sides will become closer. “Brexit’s impact on Hong Kong is rather insignificant because direct contact between the two places is limited. I believe that after Brexit, Britain will not be alienated from Hong Kong, but they will become closer, for Britain will be free to sign its own trade deals,” Tse said. David Dodwell, executive director of Hong Kong-APEC Trade Policy Study Group, however, doubts whether a bilateral trade agreement between the UK and another country or area works effectively at a time of globalization. “Large companies have supply chains that span 10 to 15 countries (and regions). If trade arrangements don’t embrace all these countries, it is not helpful. Most of the trade agreements in Asia now embrace regional agreements.” Instead of being optimistic toward Brexit, he pointed out that job opportunities and economic development may also be affected. “The outcome of Brexit will be catastrophic and the price paid will be substantial for a very long time, because to negotiate how to exit the EU is a very long process, which may cause job uncertainties, career uncertainties, economic stagnation and so on,” Dodwell said. Michael Yeoh, co-founder and chief executive officer of the Asian Strategy and Leadership Institute, meanwhile, warned that the uncertainties arising from Brexit and the drop in the pound may weaken UK companies’ investment in Asia. Maximizing benefits The UK is China’s second largest trading partner in the European Union and China is also the UK’s second largest outside the EU. Bilateral trade between the two countries amounted to US$91.03 billion last year, according to the Ministry of Commerce. Edward K.Y. Chen, president of Qianhai Institute for Innovative Research, said while there would be a long transition period following Brexit, the most important thing in the process is to “minimize short-term cost and maximize long-term benefits”. “To minimize short-term cost, the first thing for Britain to do is to stabilize its economy. That means to stabilize the exchange rate of the pound in order to restore confidence and trust for investors. The second thing for Britain is to assure the world that London will stay as the No 1 financial center in the world. Meanwhile, the third thing is how Britain will manage its trade with the EU in the post-Brexit era,” Chen noted. In the long term, he added, how much benefits the UK will reap from the decision depends on how the country manages its relationship with the international world. Chen said he is not concerned about that as the Belt and Road Initiative, proposed by President Xi Jinping in 2013 to strengthen international trade and economic cooperation by improving connectivity, provides a new channel for Britain to build relations with all the economies along the route. “Brexit will not end economic globalization,” Chen said. Instead, it is “a new beginning that will bring new economic opportunities”. Source: http://www.chinadailyasia.com/2016-08/02/content_15471771.html
2016-07-29UnionPay International will continue to expand its network in Hong Kong while providing more new payment products to help retailers boost consumption, according to Carlson Li, general manager of UnionPay International Hong Kong Branch. Focusing on the growth and support of UnionPay’s global business, UnionPay International is a subsidiary of China UnionPay. “We want to cooperate with more retailers (in the region), including online retailers,” Li told China Daily, noting that consumer demand has been changing, and UnionPay International will continue to respond to those changes to meet consumer demand. “Consumers now want more mobile payment methods, and a speedier payment process, especially in stores like 7-Eleven and Watsons, which is what UnionPay International has been working on,” Li said. UnionPay has an online payment platform and its mobile payment system can be used on a wide range of smartphones. UnionPay International is in partnership with more than 1,000 institutions worldwide, allowing card acceptance in 157 countries and regions with issuance in more than 40 countries and regions. The scale of the company’s business allows it to assess changes in consumer behavior for its retail partners, according to Li. He said analysis has shown that mainland consumers now pay more attention to their “experience” when traveling overseas, rather than just travel for shopping. In Hong Kong, UnionPay International has cooperated with more food and beverage retailers, hotels and theme parks to launch promotion campaigns in order to boost consumption. Besides, data analysis has also helped retailers find their customer base so they can launch targeted promotions or modify business strategies. According to Li, UnionPay International found out several years ago that mainland consumers were cutting their spending on luxury goods, and subsequently informed its luxury retailer partners in Hong Kong. As a result, some of them made quick changes to adapt themselves to the situation. Li said that despite the current downturn in Hong Kong’s retail market, he is optimistic about the city’s retail industry. According to UnionPay International data, about 40 percent of the city’s retail consumption comes from mainland travelers. Their spending power remains high in the SAR and has recently stabilized. As for competing in the future with Visa, MasterCard and other competitors in the region, Li said UnionPay International will continue to do what it has been doing — offering a safe, fast and low-cost payment method to consumers. “Consumers will make their own choices, but retailers are willing to offer favorable terms and special discounts to UnionPay users, as it has issued five billion cards globally. Our large network has made it very convenient for retailers,” he said. Contact Write: sophiehe@chinadailyhk.com Source: http://www.chinadailyasia.com/2016-06/17/content_15450375_2.html
2016-06-16中国日报香港9月13日电 中国日报亚洲领袖圆桌论坛于13日在亚洲协会香港中心举办题为“解读数字时代:中国的智能经济”的专题研讨会。五位来自商界、学界的精英与逾百位参会者一同探讨了科技如何推动产业转型与融合,“互联网+”背景下智能经济发展趋势等议题。 中国日报邀请到长江商学院创办院长、中国商业与全球化教授项兵先生、联款通创办人及行政总裁陈永祥先生、昊诚集团电子商务服务总管Peter Greenhill先生、百度国际总经理何建邦先生、香港科技园公司行政总裁黄克强先生等五位来自中国内地、香港及欧洲的演讲嘉宾。五位嘉宾背景各不相同,既有学术机构,又有商业机构;既有本土企业,亦有跨国公司;有些专注于某一业务板块,有些则多元化发展,他们基于不同视角,与大家分享经验与看法。 中国是世界上最大的数字经济体,使用各种电子设备已成为七亿人的日常习惯。电子设备作为人们主要的信息来源及交易终端,渗透日常生活的方方面面:包括购物、出行、旅游、金融、娱乐、新闻、社交等。在企业投资与政府主导这一双重驱动下,中国的发展因“互联网+”等战略而日新月异。移动互联网、云端运算、大数据等,与传统行业不断融合,带动经济增长,促进电子商务、互联网金融行业的繁荣,更推进了互联网企业的国际化。以上实践、政策与知识如何助力中国的智能经济发展?中国的智能经济对香港、亚洲及世界有何启示? 长江商学院创办院长、中国商业与全球化教授项兵先生于主题发言中表示,互联网正不断改变着世界,放眼上海及深圳交易所,逾五分之一的上市公司都与互联网有关。他相信在目前的市场环境下,中国电子商务、互联网金融等相关业务大有可为。中国企业进军全球市场时,需关注国际营商环境,方能拓展业务,赢得尊重。 香港科技园公司行政总裁黄克强先生表示,在这一信息爆炸的时代,科技会持续改变人们的生活及思考方式,但香港如欲建设“智能经济”,任重而道远。不仅要提升科技创新意识,也需加大投资力度。香港在科技开发方面的投入占本地生产总值(GDP)不足1%,远远落后于中国内地、韩国、新加坡,仅为深圳相关投资比例约五分之一。未来二十年,“物联网”概念将不断普及,他期待香港与时俱进,成为科技先锋。 百度国际总经理何建邦先生认为,中国内地在智能经济方面有诸多突破性的创举,发展举世瞩目,众多互联网公司已渗透进大众衣食住行的各个方面,电子设备成为人们的亲密伙伴。跨国公司可将香港作为桥梁,根据大众需求,做本地化尝试。无论是金融、旅游、购物还是公共交通方面,一点小的突破都可能带来大改变。 联款通创办人及行政总裁陈永祥先生认为,网络曾经只是销售产品的渠道,现在人们可以在网上建立品牌、进行全渠道营销,可靠的支付工具更是令他们如虎添翼,完成各种复杂交易。从业者可以通过不断尝试与创新,为业务来更多便利,也促进商家与顾客的沟通与理解。 昊诚集团电子商务服务总管Peter Greenhill先生表示,科技的进步是一柄“双刃剑”:它令银行缩减分行、实体商店关闭、中介机构裁员,但同时,科技也创造了新的就业岗位、减少运作开支、降低风险,并提升了客户体验,令众多行业吐故纳新。 中国日报社拥有报纸、网站、移动客户端、脸谱、推特、微博、微信、电子报等十余种媒介平台,全媒体用户总数累计约4100万;发行量90万份,其中海外60万份;网站日均访问量5200万,全球移动客户端用户达600万;在海外,通过每月发行400余万份海外供版的《中国观察报》(China Watch),直达《华尔街日报》、《华盛顿邮报》、《每日电讯报》、《费加罗报》、加拿大《环球邮报》、泰国《民族报》等美、欧、亚主流读者群。 中国日报亚洲领袖圆桌论坛(www.cdroundtable.com)是一个由亚洲国家和地区的政、商、学界领袖和社会精英参与的高端对话和交流平台,围绕亚洲地区经济、商业、产业和社会发展等具有战略影响的重要议题展开讨论,至今在港、澳和亚太多国已经举办了近50届,逾万名决策精英参与。 (编辑:党超峰) Source: http://cn.chinadaily.com.cn/2016-09/13/content_26787382.htm
2016-09-14Enterprises must embrace digitization, connectivity and localization to compete amid the three main waves surrounding global economies — neo-liberalism, globalization and democratization of information — according to panelists on the Asian Leadership Roundtable “Defining the Digital Era: China’s Smart Economy”. During the roundtable co-presented by China Daily and Asia Society Hong Kong Center, various academics and e-business practitioners were invited to share their views on how companies can formulate business strategies to compete in the digital services sector in Asia. Xiang Bing, founding dean and professor at Cheung Kong Graduate School of Business’ (CKGSB) China Business and Globalization, said the underdevelopment of the mainland services sector and the deregulation and digitalization of the mainland economy is creating business prospects for companies. “The services sector only accounts for 50 percent of the mainland’s GDP — far below that of the United States, the European Union and Japan. Also, there are up to 40 sectors on the mainland that remain to be deregulated,” Xiang said, adopting a positives tone on the mainland economy when delivering the keynote speech. “Approximately 25 percent of the companies listed on the Shanghai and Shenzhen exchanges are internet-related. There is a large number of people using the internet, so there are plenty of positives for digitization of the economy on the mainland,” Xiang said. The Chinese mainland is the world’s largest digital economy, with some 700 million people using a myriad of digital devices and applications on a daily basis to access information and conduct transactions covering online shopping, transport, tourism, financial services, entertainment, media and social networking. Besides embracing digitization, industry practitioners must also adopt a localization strategy to compete, panelists said. “E-commerce service providers must learn to use consumer data and information on behavior in order to improve customer services,” said Frankie Ho, general manager at Baidu International, a mainland web-searching services company. “Given the huge size of the mainland market, only the leading service providers in the mainland can still make a living in the second- and third-tier mainland cities.” Companies must pay attention to connectivity as well, according to Albert Wong, CEO at Hong Kong Science and Technology Parks Corporation (HKSTP), a government-statutory body to promote technological innovation in Hong Kong. “The sequence of data-information-intelligence unleashed by connectivity is the future trend of digitization. The ability to connect various intelligences can propel the growth of sensor technologies that can be applied in the biomedical industry such as DNA analysis and personalized medication,” Wong said. Joseph Chan, the founder and CEO of AsiaPay, an electronic payment solution provider for 11 Asian countries, noted that enterprises should strive to provide more added value in the process of service delivery. “The digitization of payments should not just stop at making seamless transactions. Service providers should strive to provide a whole set of financial experience under a single basket. When customers use the mobile platform, they can also arrange a loan, check their personal finance history and access wealth management products,” Chan said. CKGSB’s Xiang, a professor dedicated to developing the mainland’s management education sector, said companies must formulate clear e-business strategies if they strive to expand in the mainland market. “Mainland companies are getting more sophisticated and possess so much money to buy technologies and brands from Western economies such as Germany and Japan. If you want to compete in the mainland market, you have to do your homework,” Xiang cautioned. The prospects for the mainland’s digital economy are positive, and Hong Kong can also play a pivotal role in this digital economy, the panelists agreed. “Hong Kong has to drive the growth of the digital economy for its survival, as the local economy is not doing well. Driving the technology sector is the next step,” HKSTP’s Albert Wong said. “Spending on research and development in Hong Kong accounts for less than 1 percent of the city’s GDP. We need to raise awareness to change this situation — and this is a long journey,” Wong added. “Hong Kong is an integral part of the global village — a worldwide better-connected communication system which is reshaping the economy at an accelerating pace,” financial services provider Equiom Group’s head of e-Business Peter Greenhill reckoned. “The process will create new companies and jobs while reducing costs and risks.” CKGSB’s Xiang suggested e-commerce companies should formulate their business strategy at a higher level. “In the era of smart economy, innovation and entrepreneurship need to go beyond wealth creation. We need more people to innovate for interest, responsibility and solving global problems,” he said. Source: http://www.chinadailyasia.com/2016-09/15/content_15496028.html
2016-09-14Hong Kong has great fundamentals to develop innovation technology and the industry will continue to progress along with an evolving mentality and atmosphere, according to Albert Wong, CEO of Hong Kong Science and Technology Parks Corporation. Innovation technology is crucial to Hong Kong as it delivers economic benefits, provides jobs, and creates more technology in the city, Wong said on the sidelines of a China Daily roundtable in Hong Kong on Tuesday. Wong also referred to the Global Innovation Index 2016 Report, published by Cornell University, INSEAD and WIPO on Aug 15, in which Hong Kong ranked 14th while Singapore ranked sixth. In 2013, Hong Kong ranked seventh in the Innovation Index; in 2014, 10th; in 2015, 11th. This shows the city is declining in terms of innovation. And despite ranking second globally in terms of “innovation input”, which measures talents, government policy and infrastructure, when it comes to “innovation output”, which measures creativity, innovation products and commercialization, Hong Kong ranks 25th. Wong believes the report proves that Hong Kong has good fundamentals to develop innovation technology, while students and young people in Hong Kong are strong in studying science, technology, engineering and mathematics. “But are they really dedicated to innovation technology? Maybe not; we need to help them,” Wong said. The mindset will change gradually, he said, adding that the fundamentals are there and the knowledge is there, while an innovation shift really starts with society, the culture, parents, and finally the general atmosphere. Wong pointed out that the biggest thing for Science Park to do to boost the innovation technology industry is to build an ecosystem and encourage research and innovation development using Science Park or other areas as the venue. “In Science Park we want people to come and interact and to work with each other. Currently we have 13,000 people and 610 companies working in the Science Park; we connect all these people, we let them collaborate and then we catalyze the innovation.” Wong said his advice to the younger generation is that they should just go after their dreams. “What you think is best for you, you should just go after that. There are opportunities in the innovation and technology industry, and if this is something you like to do and it is your passion, go after it. I have seen many people going after their dream.” In terms of the government, Wong said it has done a lot of work in promoting innovation and technology. But he added there is always room to provide more opportunities for promoting new technologies, while keeping an open mind will further enable startups and small companies to develop such technologies. sophiehe@chinadailyhk.com Source: http://www.chinadailyasia.com/2016-09/15/content_15496030.html
2016-09-14Smart Economy in Full Swing in China China Daily Forum – “Defining the Digital Era: China’s Smart Economy” SEP 13, 2016, Hong Kong – China Daily Asia Leadership Roundtable held a special forum themed “Defining the Digital Era: China’s Smart Economy” on Tuesday, Sep 13, 2016 at the Asia Society Hong Kong Center. China is the world’s largest digital economy, with some 700 million people using a myriad of digital devices and applications on a daily basis. Digital devices have become major sources of information and terminals for transactions, covering online shopping, transport, tourism, financial services, entertainment, media and social networking. The driving forces behind these phenomenal changes are enterprise investment as well as government leadership on initiatives, such as Internet Plus, which integrates the Internet, including mobile Internet, cloud computing and big data, with traditional industries to fuel economic growth, and encourage the healthy development of e-commerce and Internet banking along with the global expansion of Internet companies. The panelists, who hailed from local and international companies, discussed how behavior, policies and knowledge can help develop or reshape China's current economy into a smart economy; as well as the implications of China’s smart economy for Hong Kong, Asia and the world. Dean Xiang Bing, Founding Dean, Professor of China Business and Globalization, Cheung Kong Graduate School of Business said in the keynote speech that he would “stick to his guns and be optimistic about the economy” as he’d been proved wrong so many times. “We have some advantages in entering the digital economy,” he said, not least because the “government has been promoting Internet Plus since at least 2014.” He believed that “for China’s business to succeed globally, even be respected globally, we need to take on global problems.” “(Hong Kong) plays a very pivotal role in helping the economy in China,” said Mr. Albert Wong, Chief Executive Officer, Hong Kong Science and Technology Parks Corporation. Rather than expanding the size of the Hong Kong Science Park, Wong said he would rather build a virtual science park – and “that is what we’re doing,” he added. Wong emphasized Hong Kong has to have technology innovation, not just because we want to have it, but also because we have to have it, in order to survive. “Customers are more and more demanding,” said Mr. Frankie Ho, General Manager, Baidu International, pointing out that one way of solving this is to learn from the data collected. “I think now we’re not talking about digitalization,” said Ho, but about moving what we already have (business-wise) onto into mobile technology, like phones etc. Mr. Joseph Chan, Chief Executive Officer, AsiaPay Limited believed digitization of payments will eventually become seamless. “The Internet used to be where the manufacturers sell their products, but now people set up their own brands online. Moreover, the payment tools become smarter, so that the e-retailers know their customers better.” Mr. Peter Greenhill, Head of EBusiness, Equiom Group Europe sees the digital revolution as a double-edge sword. “Technology caused the closing of branches of banks, shops and agencies; but it is replacing jobs, reducing costs, risks, and increasing the user experience.” -- The end --
2016-09-14"The passion to apply technology in the financial world drove me to boldly start an e-payment business,” Joseph Chan, CEO of AsiaPay, said at the China Daily Asia Leadership Roundtable. The founder of AsiaPay, a premier electronic payment solution and technology vendor and payment service provider, recounted that he had been thinking about how to apply technology in the financial world since his college years at Monash University, Australia, where he received Bachelor of Computer Science and Master of Economics degrees. Chan went on to serve in management positions at Barings, Citibank, Bank of America and Dah Sing Bank. During those years working in financial institutions, he accumulated technical and management experience in systems as well as product design and development. But Chan always kept in mind his original passion for using technologies to enhance financial products for consumers. And when he decided to give up his stable banking job and start up his own business in 2000, the concept of e-payments was quite new and without any proven business model. Meanwhile, Hong Kong had just gone through the dot-com bubble. During 1995 to 2001, stock markets in industrial nations saw their equity value rise rapidly from growth in the internet sector and related fields. By early 2000, reality started to sink in and the dot-com dream had devolved into a classic speculative bubble. “It was really a challenging decision to found the e-payment business,” Chan admitted. By 2003, the global economic downturn and the SARS outbreak were severely affecting commercial activity in Hong Kong, while at that time his company was still largely unknown and lacked enough funding support. Hence, business in the first three years was not as good as expected. Nevertheless, the company grew from a one-man band to a dedicated team. Chan praised the persistence and hard work of the team in continuing to improve their platforms and products. AsiaPay expanded its client base from merchants only to include banks. This was a turning point which helped the company to increase its cash flow and vastly improve its products. In 2005 the company broke even and was able to realize the ambition of expanding to open branches outside Hong Kong. Currently, according to Chan, AsiaPay has over 60 percent of the market share in the local e-payment industry and has become the top payment service provider in Southeast Asian countries such as the Philippines, Thailand, Singapore and others. AsiaPay is also a pioneer in providing e-payment service on the Chinese mainland. Now AsiaPay is an accredited payment processor and payment gateway solution vendor for banks, a certified Internet Payments Service Provider (IPSP) for merchants, and a certified international 3-D Secure vendor for Visa, MasterCard, American Express and JCB. It offers a variety of solutions that are multi-currency, multilingual, multi-card and multi-channel, together with its advanced fraud detection and management solutions. Comparing AsiaPay’s business advantages with those of its competitors, Chan emphasized the comprehensiveness of the company’s payment products, the participation of banks in Asia, and its technological ability in platforms and security management as well as comprehensive local operation coverage. Recently, Apple Pay entered into the Hong Kong market. Chan said he sees Apple Pay more as a collaborator than a competitor — AsiaPay provides payment processing solutions that support Apple Pay, so their relationship is like that of “collaborative competitors”. Chan said the company’s most urgent target currently is to increase the pace of expansion to cover not only Asia but also other global markets. Regarding the development of fintech in Hong Kong, Chan said that innovation never stops and technology is improving every second. He believes Hong Kong has the most stable telecom infrastructure and advanced financial systems to support the fintech industry and the development of startups. tingduan@chinadailyhk.com Source: http://www.chinadailyasia.com/2016-09/15/content_15496029.html
2016-09-07To say we are living in uncertain times is a massive understatement. With words and phrases like Brexit, terrorism, economic slowdown and climate change popping up almost every day in the news, it is no surprise that they were also brought up at the 13th ASEAN Leadership Forum. “There is so much uncertainty around the world that it will impact the Association of Southeast Asian Nations’ progress,” said Suthiphand Chirathivat, former dean of the faculty of economics at Thailand’s Chulalongkorn University. Held in conjunction with the 28th ASEAN Summit in Vientiane, the capital of Laos, the leadership forum saw government, business, academic and civil society leaders come together to take stock of ASEAN and map out the region’s future. The forum was organized by Malaysia-based think-tank the Asian Strategy & Leadership Institute, in conjunction with the Lao National Chamber of Commerce and Industry and the Lao Ministry of Industry and Commerce. If it is not to get hemmed in, the ASEAN bloc must move forward as one — now more than ever. “Peace, security and stability are prerequisites for growth,” said Cambodian Prime Minister Hun Sen, in a special address he delivered after receiving the ASEAN Lifetime Achievement Award, along with Malaysia’s Deputy Prime Minister Ahmad Zahid Hamidi, and Myanmar’s State Counselor Aung San Suu Kyi. Unfortunately, the elements the Cambodian prime minister sees as necessary for growth are in short supply around the world at the moment. Weighing in on the terrorism issue was Nasharudin Mat Isa, CEO of the Global Movement of Moderates Foundation, an anti-extremism organization. “How do we counter it? The most important effort must be in encouraging community participation so that no one feels left out and isolated by society.” Pointing towards Brexit, Ton-Nu-Thi Ninh, president of the Ho Chi Minh City Peace and Development Foundation, advised on drawing lessons from there and not repeating the same mistakes. “Be careful of protectionism and do not be inward looking,” she said. Indeed, it is imperative that ASEAN as a bloc should rise together on the tide, rather than compete with each other. “Think about how to work with countries outside ASEAN too,” suggested Jonathan Choi, chairman of the Hong Kong-headquartered conglomerate Sunwah Group. Before that can be done, however, it was repeatedly highlighted that there is a gap that needs to be bridged between how the man on the street views the concept of ASEAN and its political leadership. “True integration can only happen if all the people of ASEAN come on board,” said Ninh of the Peace and Development Foundation. “One way is to get young people from the different countries to work together on startups in different sectors, such as the arts, tourism and research.” This was echoed by Thai academic Chirathivat: “We need to give them a sense of ownership.” Other issues that dominated the forum were linked to micro, small and medium enterprises (MSMs). “How do we bring up the status of MSMs from every nook and cranny of society?” asked Mustapa Mohamed, Malaysia’s Minister of International Trade and Industry. In 2014, such businesses dominated ASEAN economies in terms of their share of total establishments and employment — between 88.8 percent and 99.9 percent, and 51.7 percent and 97.2 percent, respectively. However, their share of total exports remained small at between 10 percent and 29.9 percent. Looking ahead, questions need to be asked about what type of leadership is required to take ASEAN into the future. Three points on the topic were raised by Denison Jayasooria, principal research fellow at the Institute of Ethnic Studies, National University of Malaysia. “Firstly, they need to be able to analyze the challenges of our time with critical honesty. Secondly, they need to foster policies for a sustainable development model. Thirdly, there must be a strategic institution of effective implementation mechanics at the national and regulatory levels.” As long as economic development is the end goal, he said, he was confident that challenges could be overcome. Offering a businessman’s perspective to the discussion was Robert Yap, executive chairman of Singaporean logistics business YCH Group. He pointed out the business community’s aversion to uncertainty, and the importance of integration, low trade barriers and increased connectivity. “The cost of any inefficiency ultimately goes to the man on the street,” Yap said. “If you are a business, make sure you don’t get caught sleeping. Always be open to change and ready for it.”
2016-08-12In 1991, dialogue relations between ASEAN and China were stablished, paving the way for greater collaboration and cooperation between both parties. Twenty-five years on, remarkable progress has been made. Among a long list of achievements, surely the most significant must be how China has been the largest trading partner of the Association of Southeast Asian Nations for the past seven consecutive years, while ASEAN has been China’s third-largest trading partner for five years running. Last year, the trade value exceeded $472 billion, while tourist numbers and student exchanges surpassed 23 million and 190,000, respectively. These facts and figures were highlighted by Yang Xiuping, secretary-general of the ASEAN-China Center, when she spoke at the China Daily co-organized leadership roundtable, which focused on the Chinese mainland, Hong Kong and ASEAN growing together for shared prosperity. Held in Vientiane, Laos on Aug 7, the session was part of the 13th ASEAN Leadership Forum and themed ASEAN Community: Enhancing Opportunities and Shared Prosperity. “Our political mutual trust is constantly deepened, economic ties are closer than ever, and people-to-people exchanges have borne rich fruits,” said Yang. “The ASEAN-China cooperation has not only brought about tangible benefits to nearly 2 billion people, but also made important contributions to peace, development and prosperity in East Asia,” she said. The ASEAN Leadership Forum is organized by the Asian Strategy & Leadership Institute, a Malaysia-based think-tank, and co-organizers this year were the Lao National Chamber of Commerce and Industry, and the Ministry of Industry and Commerce. The event was held in conjunction with the 28th ASEAN Summit that takes place in the Lao capital next month. The forum’s forward-looking viewpoint examined the opportunities and challenges faced by the 10-member bloc, while calling for closer economic integration and connectivity. In her speech, Yang spoke about the huge potential, and broader prospects, created between ASEAN and China. These are built upon a foundation that includes adoption of the Plan of Action of 2016-2020, which charts the future course of relations, an upgrade to their free trade agreement (FTA), and the pushing forward of the Belt and Road Initiative. Proposed in 2013, the initiative aims to build a new economic maritime and land Silk Road. “All these achievements inject new impetus into ASEAN-China relations,” said Yang. “During the ASEAN-China Foreign Ministers’ Meeting (in June in Kunming, Southwest China’s Yunnan province), both sides reached new consensus on deepening cooperation in an all-round way.” She made suggestions on how to move forward against the backdrop of the global economy’s sluggish recovery and increasing downward pressure for regional countries. Further alignment is necessary between China’s 13th Five-Year Plan and the ASEAN Community Vision 2025, she said. The latter’s aim is to create a “more rules-based, people-oriented, people-centered” ASEAN community. Her five-point proposal encompassed comprehensive development of trade in goods, services, economic and technological cooperation; strengthening production capacity cooperation to facilitate industrial transformation; promoting connectivity and carrying out more pilot projects by fully utilizing the Asian Infrastructure Investment Bank (AIIB) and Silk Road Fund; promoting cooperation among the six Lancang-Mekong River countries; and enhancing people-to-people exchanges, while laying a more solid foundation for relations. Building upon this, George Yeo, the Singaporean chairman of Hong Kong-listed Kerry Logistics Network, said there is an immense opportunity within the next 30 years to bring ASEAN to first-world status with the help of China. He remembered a trip in 1983 to visit his grandparents in Shantou, in South China’s Guangdong province, when the country was “desperately poor”. The picture today, three decades later, is in stark contrast. “China is progressively integrating its neighbors in ever-widening circles,” Yeo said. “This tide will continue to flow, easily for another 20 years. This tide is like the water level rising — it will flow down (south) and if we capture the water, all of us will be lifted.” He recalled hearing Chinese President Xi Jinping announcing the Belt and Road Initiative in September 2013. Back then, Xi expressed his desire to see bilateral trade between ASEAN and China increase from $200 billion in 2012 to $1 trillion by 2020. To achieve that, said Yeo, there will be a need for infrastructure, financing, FTAs, ease of travel and good relations. “But if that 2020 goal is achieved, and further goals set and achieved, all of us in ASEAN will be propelled by this new China trade into the first world.” Lending an alternative perspective was Abdul Majid Khan, the president of the Malaysia-China Friendship Association and Malaysia’s former ambassador to China. He said the collaboration between ASEAN and China is definitely beneficial to all, but to varying degrees. Still, the relationship has developed comfortably. “Over the years, the leaders have played a role to help this mutual trust and confidence develop from a zero base,” Khan said. “As an ASEAN dialogue partner, China is a latecomer, but since then it has put forward initiatives and programs (such as the Belt and Road Initiative and AIIB) that will be catalysts to move us forward.” “We are all committed to understanding that a peaceful external environment is important for development,” said Khan. Hong Kong was represented at the session by Gregory So, secretary for commerce and economic development. Offering insights into the special administrative region’s role, he called it a “super connector”. “We are like the point guard in a basketball team,” he said, referring to the player who controls the ball and makes sure it gets to the correct players at the correct time. “We connect people to one another and help them to cross over and leverage on their strengths. Our central location — nine hours to Beijing and five hours to Shanghai by express rail — also puts us in a good position.” Case in point: In 2014, Hong Kong ranked second globally in terms of inflow and outflow of foreign direct investment (FDI). Last year, its FDI inflow was again second in the world, amounting to $175 billion. As the secretary in the Hong Kong Special Administrative Region’s government who travels the most, So has been exposed to the industry, culture and diversity of ASEAN. “It has the richest tapestry of culture and creativity that, together, can really build a lot of new industries,” he said. “I really believe in integration; this is what we all need.” In a step closer to that integration, So said the Hong Kong-ASEAN free trade agreement negotiations will be completed this year. “It’s going to open up the markets even further,” he said. “I don’t believe in imposing barriers but in working together and helping each other move in the same direction to score.” Already, without the FTA, the two regions share close economic ties. ASEAN is Hong Kong’s second-largest trading partner, the fourth-largest export market and an important destination for investment. In 2015, Hong Kong-ASEAN trade volume exceeded $100 billion. Hong Kong has signed bilateral civil aviation agreements with all 10 ASEAN countries. Every week about 200 ships connect Hong Kong and major ports in ASEAN. Yang, of the ASEAN-China Center, is also optimistic about this relationship. She said it is expected that Hong Kong and ASEAN shall give full play to their respective advantages, explore cooperation in infrastructure, logistics, finance, insurance and law services, “and enhance people-to-people exchanges in education, culture, youth and tourism, so as to further deepen mutual understanding and friendship among the people”. However, as much as the painted picture is pretty, there is no avoiding the smudge in the corner. Khan took pains to point it out: The South China Sea territorial dispute. “The issue is hanging over both sides. But we need to move forward and handle it so that it is not overblown,” Khan said. “I’m confident that with wisdom on both sides, it will be well managed.” Social and environmental challenges were also raised, and during the question-and-answer segment the speakers were asked for suggestions on how to mitigate them. “That’s why we need summits and meetings to address these problems and solve them. The better we are at managing these complications, the faster we can grow. If we can’t manage these problems, we have to slow down,” said Kerry Logistics’ Yeo. “The China tide is creating problems all over the world because of its speed of flow. It’s become so disruptive,” he said. But in the interest of shared prosperity, it is pertinent that these problems be overcome. Yang put it aptly when she said: “ASEAN and China shall, as always, uphold mutual respect, mutual understanding, mutual trust and mutual support, work for more enriched and deepened development of bilateral relations and forge a closer community of common destiny.”
2016-08-12The outcome of Brexit is expected to be catastrophic for Britain, and the price paid will be substantial for a very long time, David Dodwell, executive director of Hong Kong-APEC Trade Policy Study Group, told a roundtable forum on Friday in Hong Kong. Dodwell told China Daily that it is not the phenomenon of Brexit that will worry investors, it is that Brexit is the product of a rather disturbing political and social development that is occurring across a large number of economies. If the malaise continues to get worse, it will hurt all of us, Dodwell warned. Brexit is a setback for a lot of aspects of the British economy, Dodwell said. He mentioned that the UK will have to face the substantial challenge of renegotiating trading agreements with other countries and regions; meanwhile, the situation will make it very difficult for labor to move around Europe. “People moving around is positive to the economy, as labor can match their skills against needs,” he explained. But Dodwell pointed out that China is a stabilizing force for the world, and he believes that the British government as well as British companies are hoping that despite the difficult situation they have created, still the buoyant companies from China can create jobs and help stabilize things in the UK. “From a bilateral point of view, I see China beneficially impacting the UK to help them in a rather difficult situation. I don’t see the UK has such powerful influence over China, since China is a much bigger economy.” He said that going forward, the best thing that the Chinese mainland can do is to continue to grow, focusing on stimulus economic growth. As a large economy like the Chinese mainland grows steadily, small and specialized economies like Hong Kong will continue to benefit from it. Dodwell warned that it is irrational to talk about shutting the doors to the Chinese mainland due to the anxiety and depression that people have been feeling from economic setbacks, as a free flow of business can only be beneficial to Hong Kong people. He suggested that there are some things that the central government can do to help Hong Kong, such as inclusion of more mainland cities into the Individual Visit Scheme. Mainland residents who are not eligible to apply for the endorsement under the visiting program have to come to Hong Kong in groups, Dodwell said. “Think about it, when tourists have to move in groups, they are very noticeable and will attract a lot of attention,” he said, adding that if they come as couples or families they will be less noticeable and likely to spend more, which will help tourism and the retail industry in the city. Source: http://www.chinadailyasia.com/2016-08/02/content_15471808.html
2016-07-29中國日報亞洲領袖圓桌論壇探討英國「脫歐」影響 2016年7月29日,香港–英國「脫歐」事件震動全球經濟,中國日報亞洲領袖圓桌論壇特舉辦題為「英國脫歐對中國與亞洲經濟的影響」的專題研討會,五位來自商、學界的精英將從環球視角與逾200位金融界業業內人士展開分析與對話。是次論壇由香港大學專業進修學院企業研究院協辦。 英國新任首相文翠珊及內閣保證,「脫歐」後英國將一如既往參與國際事務,但其與主要貿易夥伴如中國及亞洲其他國家的關係仍迷霧重重。「脫歐」將影響英國與歐洲乃至世界多國的貿易協定,對亞洲來說,亞歐自貿協定首當其衝,中國與香港市場亦受波及。英國作為香港在歐盟的第二大貿易夥伴,佔香港往歐洲投資總額(FDI)的65%。「脫歐」事件將對香港、中國與亞洲經濟產生何種影響,又將帶來哪些機遇與挑戰? 為深入探討以上議題,中國日報邀請到來自亞洲不同國家和地區的五位演講嘉賓:前海創新研究院院長陳坤耀教授、香港-亞太經合組織貿易政策研究集團執行董事兼公共政策顧問杜大偉先生、英國駐香港總領事館英國貿易投資署總裁賀頌雅女士、中國銀行(香港)有限公司經濟研究處主管謝國樑先生和亞洲策略與領導研究院創始人兼首席執行官丹斯裡楊元慶。 五位嘉賓立足亞洲經濟的不同層面,剖析「脫歐」事件對香港、中國與亞洲經濟產生的影響。 前海創新研究院院長陳坤耀教授從宏觀和微觀的角度分析了當下時局,他認為英國脫歐後將會有更多經濟發展機遇,這也將惠及中國。 香港-亞太經合組織貿易政策研究集團執行董事兼公共政策顧問杜大偉先生指出英國脫歐的結果將是災難性的,在很長一段時間內付出的代價將是巨大的。 英國駐香港總領事館英國貿易投資署總裁賀頌雅女士表示英國脫歐後,英鎊的貶值將會給英國的投資業帶來更多機遇。 中國銀行(香港)有限公司經濟研究處主管謝國樑先生表示香港與英國的經濟關係將会更加緊密,並且香港的離岸人民幣中心地位也會得到加強。 亞洲策略與領導研究院創始人兼首席執行官丹斯裡楊元慶認為英國脫歐引起了整個世界的不安,歐盟的發展模式及英國的「脫歐」事件也為我們重新思考區域一體化進程提供了實例。 中國日報社擁有報紙、網站、移動客戶端、臉譜、推特、微博、微信、電子報等十餘種媒介平臺,全媒體用戶總數累計約4100萬;發行量90萬份,其中海外60萬份;網站日均訪問量5200萬,全球移動客戶端用戶達600萬;在海外,通過每月發行400餘萬份海外供版的《中國觀察報》(China Watch),直達《華爾街日報》、《華盛頓郵報》、《每日電訊報》、《費加羅報》、加拿大《環球郵報》、泰國《民族報》等美、歐、亞主流讀者群。 中國日報亞洲領袖圓桌論壇(www.cdroundtable.com)是一個由亞洲國家和地區的政、商、學界領袖和社會精英參與的高端對話和交流平臺,圍繞亞洲地區經濟、商業、產業和社會發展等具有戰略影響的重要議題展開討論,至今在港、澳和亞太多國已經舉辦了40餘屆,逾萬名決策精英參與。 中國日報今天(07.29)舉辦題為「英國脫歐對中國與亞洲經濟的影響」的專題研討會,圖為論壇現場。 --完--
2016-07-29Pundits Gather for China Daily Forum “Economic Impact of Brexit on China and Asia” JUL 29, 2016, Hong Kong – As turbulence hit global financial markets in the aftermath of Britain’s decision to quit the European Union, China Daily Asia Leadership Roundtable held a special panel discussion on the “Economic Impact of Brexit on China and Asia” today at HKU SPACE Executive Academy, Admiralty Learning Centre, Hong Kong. The forum, co-organized with HKU SPACE Executive Academy, featured five distinguished speakers from the UK, China and Asia. They discussed Brexit’seconomic impact on China and Asia, the strategic challenges ahead, as well as future business opportunities, for Hong Kong, the Chinese mainland and Asia with more than 200 government officials, consul generals, and industry elite from Hong Kong and abroad. While Prime Minister Theresa May and her new cabinet have assured the world that Britain will continue to be a global player after leaving the European Union, the UK's future relationship with its key trading partners, such as China and the rest of Asia, is fraught with uncertainties. Brexit is bound to affect Britain’s dozens of trade pacts with Europe and the world, including the EU-Asia Free Trade Agreement, not to mention those with China, Asia and Hong Kong. Britain has been Hong Kong’s second-largest trading partner in Europe, accounting for about 65 percent of the SAR’s investments in Europe. Mr. Zhou Li, Editorial Board Member of China Daily Group of Publisher & Editor-in-Chief of China Daily Asia Pacific welcomed the distinguished speakers from across Asia, including Prof. Edward K.Y. CHEN, President, Qianhai Institute for Innovative Research; Mr. David DODWELL, Executive Director, Hong Kong-APEC Trade Policy Study Group; Ms. Jo HAWLEY Director of Trade and Investment, Hong Kong and Macau, British Consulate-General; Dr. TSE Kwok Leung, Head of Policy & Economic Research, Bank of China (Hong Kong) Limited; Tan Sri Dato’ Dr. Michael YEOH, Co-Founder and Chief Executive Officer, The Asian Strategy & Leadership Institute (ASLI). Prof. Edward K.Y. CHEN, President, Qianhai Institute for Innovative Research, is confident that after Brexit. “Britain will have more economic opportunities, which also benefit China”, said Prof. Chen. However,Mr. David DODWELL, CEO, Strategic Access Limited; Executive Director, Hong Kong-APEC Trade Policy Study Group,says that the outcome of Brexit will be catastrophic, and the price paid will be substantial for a very long time. Ms. Jo HAWLEY, Director UK Trade and Investment, Hong Kong and Macau, British Consulate-General, analyzed the world economic situation after Brexit; and she believes depreciation of Britain pounds after Brexit provide opportunities for investment in Britain. Mr. TSE Kwok Leung, Head of Economics & Policy Research, Bank of China (Hong Kong) Limited, mentioned that Hong Kong's economic relations with the UK should be much tighter than before and its position as offshore RMB center will also be strengthened. Tan Sri Dato’ Dr. Michael YEOH, Co-Founder and Chief Executive Officer, The Asian Strategy & Leadership Institute (ASLI), shared his insights from a regional perspective. He saidBrexit increased global uncertainties and the European Union has been a model for us to rethink regional integration. More than 200 government officials, consul generals, and industry elite from Hong Kong and abroad attended the forum. --The End--
2016-07-29Britain’s exit from the European Union (EU), known as Brexit, though raising uncertainties across the world, also signals a “new beginning” that will bring more investment opportunities and closer ties with Hong Kong, the Chinese mainland and Asia, experts and researchers told a roundtable forum in Hong Kong on Friday. Brexit, which triggered a sharp depreciation of the British pound against major currencies including the renminbi, will reduce risks for Chinese companies to do business in the UK, said Jo Hawley, director of trade and investment of British Consulate General Hong Kong. Brexit a ‘new beginning’ Jo Hawley, director of trade and investment of British Consulate General Hong Kong. (Photo by Edmond Tang / China Daily) Buyers from China will find it cheaper to invest in UK properties, she said, adding that Chinese tourists and students will spend less when visiting and studying in the Western country. “The depreciation of the British pound after Brexit is already providing opportunities for investment in Britain,” Hawley told the forum themed “Economic Impact of Brexit to China and Asia”, organized by China Daily Asia Pacific. By July 3, 10 days after Britain’s referendum on whether to leave the EU, the British pound had dipped more than 10 percent, from 9.84 yuan ($1.48) per pound to 8.83 yuan. “In the long term, leaving the EU means that the UK will be free to sign its own trade deals with other countries, such as a free trade agreement with China,” Hawley added. Tse Kwok-leung, head of policy and economic research at Bank of China (Hong Kong) Ltd, believes Brexit will be beneficial to Hong Kong, as relations between the two sides will become closer. “Brexit’s impact on Hong Kong is rather insignificant because direct contact between the two places is limited. I believe that after Brexit, Britain will not be alienated from Hong Kong, but they will become closer, for Britain will be free to sign its own trade deals,” Tse said. David Dodwell, executive director of Hong Kong-APEC Trade Policy Study Group, however, doubts whether a bilateral trade agreement between the UK and another country or area works effectively at a time of globalization. “Large companies have supply chains that span 10 to 15 countries (and regions). If trade arrangements don’t embrace all these countries, it is not helpful. Most of the trade agreements in Asia now embrace regional agreements.” Instead of being optimistic toward Brexit, he pointed out that job opportunities and economic development may also be affected. “The outcome of Brexit will be catastrophic and the price paid will be substantial for a very long time, because to negotiate how to exit the EU is a very long process, which may cause job uncertainties, career uncertainties, economic stagnation and so on,” Dodwell said. Michael Yeoh, co-founder and chief executive officer of the Asian Strategy and Leadership Institute, meanwhile, warned that the uncertainties arising from Brexit and the drop in the pound may weaken UK companies’ investment in Asia. Maximizing benefits The UK is China’s second largest trading partner in the European Union and China is also the UK’s second largest outside the EU. Bilateral trade between the two countries amounted to US$91.03 billion last year, according to the Ministry of Commerce. Edward K.Y. Chen, president of Qianhai Institute for Innovative Research, said while there would be a long transition period following Brexit, the most important thing in the process is to “minimize short-term cost and maximize long-term benefits”. “To minimize short-term cost, the first thing for Britain to do is to stabilize its economy. That means to stabilize the exchange rate of the pound in order to restore confidence and trust for investors. The second thing for Britain is to assure the world that London will stay as the No 1 financial center in the world. Meanwhile, the third thing is how Britain will manage its trade with the EU in the post-Brexit era,” Chen noted. In the long term, he added, how much benefits the UK will reap from the decision depends on how the country manages its relationship with the international world. Chen said he is not concerned about that as the Belt and Road Initiative, proposed by President Xi Jinping in 2013 to strengthen international trade and economic cooperation by improving connectivity, provides a new channel for Britain to build relations with all the economies along the route. “Brexit will not end economic globalization,” Chen said. Instead, it is “a new beginning that will bring new economic opportunities”. Source: http://www.chinadailyasia.com/2016-08/02/content_15471771.html
2016-07-29UnionPay International will continue to expand its network in Hong Kong while providing more new payment products to help retailers boost consumption, according to Carlson Li, general manager of UnionPay International Hong Kong Branch. Focusing on the growth and support of UnionPay’s global business, UnionPay International is a subsidiary of China UnionPay. “We want to cooperate with more retailers (in the region), including online retailers,” Li told China Daily, noting that consumer demand has been changing, and UnionPay International will continue to respond to those changes to meet consumer demand. “Consumers now want more mobile payment methods, and a speedier payment process, especially in stores like 7-Eleven and Watsons, which is what UnionPay International has been working on,” Li said. UnionPay has an online payment platform and its mobile payment system can be used on a wide range of smartphones. UnionPay International is in partnership with more than 1,000 institutions worldwide, allowing card acceptance in 157 countries and regions with issuance in more than 40 countries and regions. The scale of the company’s business allows it to assess changes in consumer behavior for its retail partners, according to Li. He said analysis has shown that mainland consumers now pay more attention to their “experience” when traveling overseas, rather than just travel for shopping. In Hong Kong, UnionPay International has cooperated with more food and beverage retailers, hotels and theme parks to launch promotion campaigns in order to boost consumption. Besides, data analysis has also helped retailers find their customer base so they can launch targeted promotions or modify business strategies. According to Li, UnionPay International found out several years ago that mainland consumers were cutting their spending on luxury goods, and subsequently informed its luxury retailer partners in Hong Kong. As a result, some of them made quick changes to adapt themselves to the situation. Li said that despite the current downturn in Hong Kong’s retail market, he is optimistic about the city’s retail industry. According to UnionPay International data, about 40 percent of the city’s retail consumption comes from mainland travelers. Their spending power remains high in the SAR and has recently stabilized. As for competing in the future with Visa, MasterCard and other competitors in the region, Li said UnionPay International will continue to do what it has been doing — offering a safe, fast and low-cost payment method to consumers. “Consumers will make their own choices, but retailers are willing to offer favorable terms and special discounts to UnionPay users, as it has issued five billion cards globally. Our large network has made it very convenient for retailers,” he said. Contact Write: sophiehe@chinadailyhk.com Source: http://www.chinadailyasia.com/2016-06/17/content_15450375_2.html
2016-06-16