Business leaders discuss development opportunities
Executives from leading international companies gathered at the China Europe International Business School (CEIBS) on Saturday for the IBLAC High-Level Dialogue between global business leaders and Chinese entrepreneurs.
The forum, organized on the eve of the 35th International Business Leaders Advisory Council (IBLAC) Annual Meeting, aimed to discuss opportunities for new development amidst the changing global economic landscape and explore avenues for collaboration and mutual growth of domestic and international enterprises.
In the midst of a global economic downturn over the past three years, China has pulled off an impressive feat, achieving an average GDP growth rate of 4.5 percent. As a vital link between China and the rest of the world, Shanghai has shown extraordinary resilience in recent times to overcome unprecedented challenges and maintain its position as China's leading economic powerhouse.
"The enormous Chinese market, complete industrial system, and the development prospects of strategic alliances with international companies are all crucial for jointly creating new tracks and planning future development," said Wang Hong, dean of CEIBS.
"Over the years, many Fortune Global 500 companies have continuously tracked the Chinese economy, deeply cultivating it through investment and reaping good development opportunities and profits.
"Therefore, they are more concerned about future opportunities for China's development. In the meantime, Chinese entrepreneurs are rooted in China's development and seeking opportunities for global cooperation. As a result, both parties share this common need and require a deep understanding of each other in order to transform new industry tracks and business opportunities into tangible benefits."
At the forum, several high-profile attendees shared their insights on the current economic landscape and the potential for collaboration.
The dialogue also discussed the intersection of technology and business development.
"We have seen that the digital economy accounts for 15 percent to 17 percent of global GDP," Wang said.
She emphasized that the Chinese market is a business opportunity, but how to make good use of it is worth studying by both companies and capital markets.
Additionally, the technological revolution, particularly in areas such as biopharmaceuticals, intelligent engineering, and green low-carbon, has injected new vitality into the Chinese and global economies.
Chen Weiru, professor of Strategy at CEIBS, emphasized the importance of collaboration and the unique opportunities presented by China's vibrant and innovative approach.
He highlighted the distinction between the focus of Western companies on established corporations and China's dynamic ecosystem of start-ups. Chen also mentioned China's innovative approach and how it can inspire foreign companies, along with the government's flexible policies that can provide valuable insights.
The event paved the way for the 35th IBLAC Annual Meeting, which is set to be held in-person for the first time in three years. This signifies the gradual return of international exchanges to pre-pandemic levels and reflects the confidence of global entrepreneurs in the Chinese economy.