October 27, 2018. Beijing – Challenges and opportunities in future mobility was the focus of discussions during the 16th China Automotive Industry Forum 2018, co-hosted by China Europe International Business School (CEIBS) and the European Automobile Manufacturers Association (ACEA). It was held at the CEIBS Beijing campus today, bringing together government officials, prominent scholars, and industry leaders in the field of mobility for an in-depth discussion. There were more than 200 guests at the event.

CEIBS Honorary President Professor Pedro Nueno and Lou Zhouren, President of the CEIBS Alumni Auto Industry Association, delivered welcome speeches, while Xu Dingbo, the Essilor Chair Professor in Accounting at CEIBS, chaired the event.

Matthew Baldwin, Deputy Director of the European Commission; Erik Jonnaert, Secretary General of the ACEA; Dong Yang, Executive Vice President of the China Association of Automobile Manufacturers; along with executives and experts from many domestic and international mobility fields, including Volvo Cars, Polestar, Continental AG, Man, Aeromobil, eGT, G7, IBM, and Banma Network, were among the invited speakers.

Mobility facing multiple challenges

The mobility industry is currently facing numerous uncertainties, which have brought many challenges its development. According to event speakers, these are some of the biggest challenges:

First, infrastructure and energy supply have become bottlenecks and have limited rapid development. In China, for example, the number of cars is far below that of driver’s license holders, and car ownership per thousand people is lower than the global average. Tang En, President and CEO of Continental China, says he believes that, limited by infrastructure and energy supply, “car ownership in China is unlikely to grow rapidly.”

Second, in terms of mobility, technological progress has changed the business model and consumer mind-set. “The mobility field is becoming electrified, intelligent, networked, shared, and lightweight, and breakthroughs in key technologies have placed higher demands on the auto industry,” Lou Zhouren pointed out in his speech. The rise of new technologies, such as new energy, car networking, and unmanned driving, has also had a big impact on the traditional auto industry – not just technically, but also in terms of changes in the overall market landscape. “The consumer mind-set and business model have completely changed. Cars can no longer be viewed as a traditional travel tool, but must instead be treated with richer connotations,” said Wu Zhenhao, President of Polestar China.

Finally, relevant laws and regulations need to be improved. Industrial development should be guaranteed by sound laws and regulations. Dong Yang, Executive Vice President of the China Association of Automobile Manufacturers, stated that he believes that currently the fault-tolerance of relevant domestic laws and regulations is limited and there is still room for further improvement. For example, some regulations in the Road Traffic Law and Surveying and Mapping Law should be adjusted or modified according to actual situations.

Innovation: solution to bottleneck

In the face of restrictions and booming new technologies, can auto enterprises take the initiative in development and find a way to break the bottleneck?

Zhao Qin, Vice President of Corporate Communications of Volvo Cars in the Asia-Pacific region, believes the answer is yes, and that the way to break the bottleneck is through innovation. She stressed that “real innovation is not just a breakthrough of a single product or a certain technology, but a systematic combination along with a corresponding business model and even the development of an entire society. Such innovation is efficient and valuable.”

One type of innovation is to integrate with the internet to assist with user operation. “Traditional cars are more like offline products, and they are difficult for users to operate, but the internet can help a lot. Of course, ‘internet people’ must first become ‘car people’ and learn to respect the auto industry,” said Zhou Ping, Senior Vice President of Banma Network Technology Co., Ltd.

Another form of innovation is to produce electric vehicles. According to Wu Zhenhao, President of Polestar China, there are already over 400 electric vehicle companies in China, all of which are trying to innovate in related fields. However, he stressed that each industry has its own developing rules, and that it is not necessarily a good thing to go with the tide, which may lead to excessive competition and a waste of resources. For example, installing charging stations is not very profitable and requires government cooperation. It will take a certain amount of time to get the volume needed, so extensive use of electric cars still has a long way to go.

Automatic driving: the future

Another point on which speakers agreed is that automatic driving will play a big role in future mobility and that automatic driving can reduce the number of casualties caused by traffic accidents.

Citing data from the World Health Organisation, Matthew Baldwin, Deputy Director of the European Commission said, 1.3 million people die from road accidents every year, more than 90% of which are caused by human factors. Unmanned driving can effectively address this problem, he argued. “Unmanned driving may lead to an increase in the rate of injuries in road accidents for a period of time, but a great decrease in the mortality rate, and many people’s lives can be saved,” he said.

Erik Jonnaert, Secretary General of the ACEA, agreed. “Automatic driving is a big change. By using technology to reduce the risks caused by human mistakes, we can greatly reduce the casualty rate,” he said. “Currently, many companies are making attempts in this regard, and hopefully we’ll see the realisation of automatic driving by 2030.”

Xu Changming, Deputy Director of the State Information Center, also said he believes that automatic driving has broad prospects in China. Chinese consumers are highly receptive to unmanned driving, so there is a huge potential demand. Moreover, Chinese cities are large and densely populated. These characteristics indicate that China is suitable for developing unmanned driving.

However development is still slow due to technical constraints. Wu Zhenhao, President of Polestar China, believes that unmanned driving will be commercialised by 2025, but it will take at least ten more years before it is widely accepted and used.

Smart logistics: future of cargo transportation

At the forum, guests also discussed the status quo and future of human mobility, as well as changes and innovations in cargo transportation.

Tang Tianguang, Chairman of the Technical Committee and President of the Intelligent Driving Business Group of Manbang Group, stated that the biggest problem with current cargo transportation is inefficiency, caused mainly by two factors: first, truck operations are highly dispersed, making it difficult to form a global optimal solution; and, second, the efficiency of bicycle use is not high.

Song Xujun, Vice President and CSO of G7, said that besides inefficiency, safety accidents are also a big problem. Major traffic accidents related to cargo transportation make up a high proportion of these, up to 100,000 each year, half of which cause death or serious injury to drivers.

To solve the current problems, Song Xujun noted that changes and innovations are needed to promote coordinated transportation and to upgrade transportation modes. “I believe that only if we upgrade transportation modes and improve transportation efficiency and safety through smart logistics, can we change the status quo of cargo transportation and develop it better in the future,” he said.

The China Automotive Industry Forum is a signature CEIBS event that provides a platform for frank discussion on transformations within the country’s auto industry and how these impact and are impacted by changes in the rest of the world. The event has been staged for almost two decades.

October 24, 2018. Zurich – About 200 players from the Chinese and Swiss healthcare industries gathered today to discuss innovations in smart healthcare products and services in China, how to leverage smart healthcare technology as a way to reshape the industry in both countries and how both sides can work together in the field. They were attending the Zurich leg of the 4^th Europe Forum series being co-hosted by China’s leading international business school, CEIBS and Credit Suisse. Today’s event explored the broad theme of “Smart Healthcare: Reshaping the Healthcare Industry in China and Switzerland”.

Faced with an ageing population, China’s local governments have placed healthcare, in addition to technological innovation, at the top of their agenda in order to improve the quality of development. With an efficient medical service system and a well-established aging care industry, Switzerland has long been at the forefront of the global healthcare industry. Today’s discussions touched on the latest developments in smart healthcare within both countries, how they can complement each other to kick-start product and service innovation in the industry, all while working together for its advancement through mutual investment and technological cooperation.

In his opening address, H.E. Qinghua Zhao, Consul General, the People’s Republic of China in Zurich and the Principality of Liechtenstein spoke of the mutually beneficial friendship between both countries, and how it has extended to the field of healthcare. Over the past five years, he noted, high-ranking officials from both sides – headed by Chinese President Xi Jinping and President of the Swiss Confederation – have nurtured the Sino-Swiss relationship into becoming its strongest ever in history. He told the audience that China has a huge stake in, and commitment to, the growing demand in national healthcare while Switzerland has been a global leader in the medical industry. Further development within the two countries represents more mutual benefit and win-win for citizens of both sides, he said, adding his hope that the day’s event would provide insights that would reshape the future of the healthcare industry. “Based on complementary cooperation between us, we hope the companies on both sides will deepen our dialogues for a win-win partnership,” he said.

H.E. Qinghua Zhao, Consul General of the People’s Republic of China in Zurich and the Principality of Liechtenstein delivering his opening remarks

In his speech, Urs Rohner, Chairman of the Board of Directors of Credit Suisse Group AG, spoke of how his company and CEIBS have found avenues of mutually beneficial cooperation, and his company’s role in fostering the wider China-Swiss relationship.  “For the last three years, we’ve worked closely with CEIBS, which is newly ranked by the Financial Times as having the #5 EMBA programme worldwide,” he said. “Meanwhile, the relationship between China and Switzerland has a long history. Credit Suisse has been active in China for over 60 years, having begun as a correspondent bank with Bank of China in 1950, and being the first international bank to open a representative office in Beijing 1955. Since 2013 when China and Switzerland signed the free trade agreement, the two countries have taken our strategic dialogue and cooperation to a new level.”

Urs Rohner, Chairman of the Board of Directors of Credit Suisse Group AG

Today’s event is part of CEIBS’ longstanding efforts to provide a platform through which the wider Sino-European ties can be fostered. It is one of five being hosted as part of CEIBS Insights 2018, an initiative launched to mark the 15th anniversary of the China-EU Comprehensive Strategic Partnership. Prior to the Zurich event, CEIBS hosted forums in Paris (October 19), Munich (July 17), London (July 19) and Prague (September 25). As CEIBS Vice President & Dean Professor Ding Yuan explained during his welcome speech, the Zurich forum was yet another example of the school’s commitment to the ideals on which it was founded. “CEIBS is unique in the world for its unprecedented governance structure and its mission. It was initially founded to help the development of China, within China. Given the country’s increasing attractiveness, CEIBS aims to help China in a new way, and also help the world understand China in a new way.” He added that besides the school’s tremendous increase in the level of its diversity and the big leap it had made in the EMBA ranking, CEIBS has more to offer. The forum is part of a wider effort to help strengthen commercial ties in Switzerland and help foreign companies better understand and do business in China. “The total size of China’s consumption market this year is US$5.7 trillion, surpassing that of the US. In 10 years, China will be 1 to 1.5 times bigger than the European market, and a primary growing factor is service,” he pointed out. With a population of over one billion, including a growing middle class and an aging population, he anticipates that China and Switzerland will break new and mutually beneficial ground with innovations in not only finance but also healthcare.

CEIBS Vice President & Dean Professor Ding Yuan

Dean Ding was just one of the members of the school’s leadership team that spoke at the event. In his opening keynote speech, CEIBS President (European) Professor Dipak Jain emphasised that the human touch is indispensable in doing business in the current age where we are seeing a transition from capitalism to entrepreneurism. Today, he said, the players are citizens instead of competing companies, and profit is no longer the barometer of success. He underscored two global trends that are crucial to healthcare: technological convergence and an aging population; and identified three areas of particular significance in the healthcare industry: consumer wellness, which consists of healthcare and wealth care; consumer hospitality, including medical tourism; and consumer engagement, primarily of digital media and entertainment. Professor Jain ended on an inspiring note, with suggestions on how to humanise business in healthcare. The key, he said, is to recognise that people are the only source of differentiation and value creation.

CEIBS President (European) Professor Dipak Jain

Ahead of Prof. Jain, the audience heard from Mr. Chris Ebell, Principal and Owner, Verticai Consulting and Ventures who is also COO, ParTec GmbH. He noted that a mushrooming of brave initiatives around the world, epitomised by the human brain project of the European Commission with 19 member states, has been behind the core technical research within the global health industry. He identified four driving forces behind the industry, and underscored the importance of solid understanding and regulation of AI in this field. He stressed that the multi-level operation of smart healthcare connected to AI, global policies, and the economy made for a very dynamic industry. “Opportunities are tremendous, and one of the big challenges is to make sense of what is happening in this field, and find a way to implement what has been achieved in research.”

Mr. Chris Ebell, Principal and Owner of Verticai Consulting and Ventures

The day’s first discussion focused on “Healthcare Product Innovation Boosted by Smart Healthcare Technology”. The stage was set with three keynote speeches. The first was by Prof. Christopher L. Tucci, Chair in Corporate Strategy & Innovation and Former Dean, College of Management of Technology, EPFL who is also CEIBS Visiting Thought Leader. He touched on the issue of product innovation, emphasising that digital innovation, coupled with AI and block chain, is the key for the future of the healthcare industry. “There’s no fine line between product and service innovation, it’s always a combination,” he said, adding that this makes cost-cutting based on AI particularly important. For example, medical diagnosis increasingly hinges upon crowd sourcing.

Prof. Christopher L. Tucci, Chair in Corporate Strategy & Innovation and Former Dean, College of Management of Technology, EPFL

He was followed by Mr. Jun Wang, Founder and CEO, iCarbonX, who is also Board Member and Former CEO of BGI and former President of BGI Research. He focused on the issue of uniqueness in providing solutions in healthcare. He believes there is no one-size-fits-all technology that can fit the unique nature of persons demanding unique solutions. He anticipates the emergence of an underlying trend where all the data from one’s digitalised and computerised life will be available and the healthcare industry will benefit from using a personalised approach to leveraging this data.

Mr. Jun Wang, Founder and CEO, iCarbonX

The third keynote speaker was Dr. Dr. Matthias Reumann, Sustainable, Resilient Health Systems Researcher at IBM Research (Zurich). In sharing his views on how AI will impact the field of medicine, he stressed that the human touch would actually be enhanced, not replaced. While he echoed previous speakers’ comments that computing power is the cornerstone of smart healthcare, Dr. Matthias stressed that ‘clean’ data is the key to get better results, which demands that we strip the data of bias so it can be used to predict and treat rare diseases.

Dr. Dr.  Matthias Reumann, Sustainable, Resilient Health Systems Researcher at IBM Research (Zurich)

All three speakers were joined by two other participants for the panel discussion that followed. During his contribution to the dialogue, Mr. Thomas Amrein, Vice President and Senior Portfolio Manager of Global Equities, Credit Suisse noted that the biggest problem in smart healthcare is resistance to change. He made the point that since any meaningful and fundamental changes in the field would take a long time to implement, and clearly there would be losers in the process, an incentive system may be an efficient driver behind the transformation of the healthcare industry. Meanwhile the significance of prevention and ethical issues in terms of data privacy were among the main points raised by Mr. Sijia Lu, CEO, Yikon Genomics, “In healthcare, prevention is more important than cure,” he said.

First panel discussion

The day’s second session centred on “Healthcare Service Innovation Driven by Smart Healthcare Technology” and also followed the same format of opening keynote speeches followed by a panel discussion. In his keynote address, Mr. Guillaume DuPasquier, Co-Founder, DomoSafety drew participants’ attention to the challenges of AI in medical use from a policy perspective. He stressed that the pressing question was how to trust information that we do not have adequate perspective to fully understand. The role of Internet 2.0 in healthcare was the focus of the keynote by Mr. Benjamin Huang, Group Deputy CTO and CTO of Healthcare Plate Tech+ Department at Fosun Group. “The Internet has restructured the patient-doctor relationship and the hospital system,” he told the audience. “We see limited medical resources and lack of skills among frontline medical practitioners, in addition to the unbalanced landscape of medical service across the country. AI thus has a major role to play in health management, to leverage data in a secure and decent way, whereas blockchain may lay the foundation for solutions of this kind.”

Mr. Guillaume DuPasquier, Co-Founder, DomoSafety

Mr. Benjamin Huang, Group Deputy CTO and CTO of Healthcare Plate Tech+ Department at Fosun Group

In addition to the two speakers, the day’s last panel discussion also saw input from Mr. Liang Liang, Founder and CEO, Easyhin and Mr. Dominik Mayer, Principal, AO Invest.

They both echoed Huang’s comments on Internet 2.0 as the new interface for incorporating online materials with offline context. Liang also stressed that a shared economy was taking shape to join the experiment of smart healthcare where medical resources could be matched and coordinated in a sustainable fashion, so as to upgrade the medical service both in quality as well as scale. “AI can replace the more mechanical and routine aspects of medical treatment. As more structured data is harnessed, specific algorithms will emerge for particular illnesses. More formerly-marginalised problems will therefore enter centre stage as more mature technologies come about,” he said.

Second panel discussion

The half-day forum ended with a closing address by CEIBS Honorary President (European) Pedro Nueno who said it sometimes takes four to five years, from the moment a doctor spots a problem to the moment a patient was cured. “The patients couldn’t wait. So they go fast,” he added. He emphasised that the aging population and multiplying medical issues have created a need for more individual models and better trained doctors.

CEIBS Honorary President (European) Pedro Nueno

The Zurich forum brings to a close CEIBS 4^th Europe Forum 2018, with plans for next year’s events, when the school celebrates its 25^th anniversary, already underway.

About CEIBS
China Europe International Business School (CEIBS) is among the top international business schools in Asia, and only school with two programmes (MBA at #8 and Global EMBA at #5) simultaneously ranked among the FT’s top 10 in 2018.

With more than 20,000 alumni from more than 80 countries worldwide, CEIBS has provided a broad range of management programmes for more than 150,000 executives both at home and abroad. CEIBS’ faculty team is uniquely equipped to deliver a combination of China Depth and Global Breadth in both teaching and research.

CEIBS has campuses in Shanghai, Beijing, Shenzhen, Zurich, and Accra.

October 19, 2018. Paris – The opportunities for Chinese and French enterprises to collaborate in the increasingly important field of artificial intelligence was the topic of discussion at today’s China-France Investment Dialogue. French Member of Parliament Cédric Villani, who drafted France’s national AI strategy, was among the more than 300 participants at the event. Mostly business executives from both countries, they explored the French and Chinese approaches to AI, potential areas of collaboration, and discussed AI’s role in and impact on the field of medicine. The event, co-organised with CCI French-Chinese Exchange Committee Paris Île-de-France and the Chamber of Commerce and Industry in France, is part of the wider CEIBS Insights 2018 initiative.

It is also in keeping with the groundwork laid, in January during French President Emmanuel Macron's first state visit to China, for both countries to work together on AI. During the talks back then, both countries explicitly listed innovation cooperation around AI as one of the most important areas where they would work together.

In her opening speech at today’s Paris forum, Minister-Counsellor (Commercial), Chinese Embassy to France, Ms. Gao Yuanyuan reiterated this commitment. “AI is the core driving force behind the new round of industrial revolution. Both French and Chinese leaders attach great importance to the development of AI, and have agreed on firm and broad grounds of cooperation in this field. Based on a mutually beneficial partnership, France and China can complement and move forward together in AI development while Chinese and French companies can work together to enjoy the fruits of this irreversible process for the benefit of humankind,” she told the audience.

Minister-Counsellor (Commercial), Chinese Embassy to France, Ms. Gao Yuanyuan

The emergence of new technologies is revolutionizing global consumption patterns and the way companies operate. China has been impressive in the development of its innovative ecosystem, producing globally known companies such as Baidu, Tencent, Huawei and Xiaomi. Many key areas of Chinese society, ranging from consumption to leisure, health to logistics have been transformed by digital technology. Meanwhile in France, the focus the issue has received from the Macron presidency and proposals of the Villani report have put artificial intelligence squarely at the forefront of many conversations.

During today’s first panel discussion, which provided concrete suggestions on potential areas of collaboration between Chinese and French companies, Villani spoke of the shared vision of France and China in making far-reaching advancement in AI. “I am able to see the development of AI and all the other developments between the two countries,” he said. “France is among the leading nations in the field of AI research and practice. We are seeing rapid scientific progress in developing AI in China, which impresses the world with a group of emerging giants in the field. There are indeed a great number of opportunities for collaboration, especially as political tension steps up among major players internationally, whereas France and China share a futuristic vision of progress.”

French Member of Parliament Cédric Villani, who drafted France’s national AI strategy.

The forum is one of five being hosted by CEIBS, China’s leading international business school, with partners across Europe. The CEIBS Insights 2018 initiative was launched to mark the 15th anniversary of the China-EU Comprehensive Strategic Partnership by observing the role that CEIBS has played and continues to play in fostering Sino-European ties. Prior to the Paris event, CEIBS hosted forums in Munich (July 17), London (July 19) and Prague (September 25).

As CEIBS Vice President & Dean Ding Yuan explained in his opening address at today’s event, multilateral cooperation at all levels is the cornerstone and commitment of CEIBS as a leading international business school. “Co-hosting this event is a privileged moment for us. It bears testimony to our commitment to the advances and welfare of mankind,” he said. “Our school began as a bold and experimental project between Europe and China. We are proud of the outstanding outcomes this institute has brought about in the last 24 years. The Franco-Chinese investment dialogue is another dynamic example of our long-standing commitment.”

CEIBS Vice President & Dean Ding Yuan

In his address, Mr. Shi Weiliang, Vice President of Chambre de Commerce et d'Industrie de Chine en France (CCICF) and General Manager of Huawei France explained that AI is one of the primary focuses of the CCCI, where new levels of collaboration are taking place between France and China. He pledged that the CCCI and its more than 130 corporate members would work to further enhance the Sino-France partnership.

Mr. Shi Weiliang, Vice President of Chambre de Commerce et d'Industrie de Chine en France (CCICF) and General Manager of Huawei France

Meanwhile, the significance of leadership in the future of AI was raised by Mr. Frank Margain President of Paris Région Entreprises who commented on the inclusiveness of AI and the challenges on the horizon facing players in the field. He stressed that AI will engage a wider array of interconnected sectors from healthcare, mobility, security, to employment. “With AI more and more integrated into the fabrics of our lives, it is difficult to define in terms of expert industries. Over 100 of our corporate candidates are from abroad, a large part of which is from China,” he said. “From 2015 to 2017, 68 Chinese companies created over 900 jobs in the region. China is playing an increasingly significant role in forging partnerships of industrial innovation and solutions. In terms of the shared cultural perspective and economic scales, many opportunities await to bring value to both sides.”  

Mr. Frank Margain President of Paris Région Entreprises

Two groups of speakers then brought different perspectives to the topic of how the Chinese and French approach AI, and how they can potentially collaborate. The first group discussed how to be more strategic in collaboration based on a firm foundation of mutual trust and understanding. There appeared to be a general consensus that collaboration is predicated on trust; AI depends on trust-based relationships between research experts and industry players; and science and technology is not the most difficult part, rather it is the human aspect that poses the biggest hurdle, for example when it comes to doing challenging things together. Panellists for this first discussion included Mrs. Patricia Barbizet, President of Temaris & Associés, Vice President of the Board of Kering; Mr. Florent Courau, General Manager, France, JD.com; and M. Ludovic Bodin, Partner of Kalibrio Capital, Ambassador Delegate for International Investments Hub France IA, Co-Founder FrenchTech Beijing.

The second group included Mr. Qunkai Liu, Head of France, Southern Europe and Israel, Alibaba Cloud International; Mr. André Loesekrug-Pietri, Spokesperson, Joint European Disruptive Initiative (JEDI); and Mr. Girish Nadkarni, President of Total Energy Ventures. Scale and the human brain were the two keywords throughout their exchange of ideas. The discussion revolved around how China and France can harness the AI industry in a larger deployment of technology and human resources, and help their companies scale up in global competition.

“AI is used for more than selling iPhones within 10 minutes. The huge amount of data generated from daily activities is largely untapped terrain. Can we use them more productively? Can we interpret the data and leverage them to the next level?” asked Girish Nadkarni. He also stressed the vitality of research from the bottom up. “It’s not just to produce the best AI scientists for global companies, but to establish the industry’s own big data AI companies,” he said.

The day’s second panel discussion focused on AI in the field of medicine and began with Mr. David Gruson, Member of the Board of Directors of the SciencePo Paris / IA Ethik Initiative Health Chair laying the framework for the discussion that followed. “A great potential for dialogue lies in the shared social issues like aging and the complementary nature of the two countries in terms of research, economy, and culture,” he said. “Human-guaranteed AI, instead of hard law and regulation, will provide a better approach to the various challenges facing us.” The panellists then shared their views on application of AI in medical research and training, the balance between privacy and openness, between personal and collective interests, and the role of ethics and regulation. Speakers included Mr. Xavier Colonna, CEO of JP COLONNA; Mr Patrice Cristofini, Founder and President of CEPS eHealth Club, Center for Prospective and Strategic Studies; Mr. Jia Li, Co-founder and CSO at Cardiologs Technologies; and Mr. Wang Jun, Founder of iCarbonX.

After concluding remarks and a summary of the day’s event by Mr. Buon Tan, President of the France-China Friendship Group of the National Assembly and Mr. Jean-Claude Karpeles, Delegate of the President of the Paris Ile-de-France CCI in charge of international business development and European affairs, there was a Social Responsibility Awards Ceremony followed by cocktails and networking. The next event in the CEIBS Insights Europe Forum 2018 series will be held in Zurich on October 24.

About CEIBS
China Europe International Business School (CEIBS) is among the top international business schools in Asia, where it is the only one to have simultaneously made it to the Financial Times’ top 30 list of MBA, EMBA, and Executive Education programmes.

CEIBS has more than 20,000 alumni from more than 80 countries worldwide, and has provided a broad range of management programmes for more than 150,000 executives both at home and abroad. CEIBS’ faculty team is uniquely equipped to deliver a combination of China Depth and Global Breadth in both teaching and research.

CEIBS has campuses in Shanghai, Beijing, Shenzhen, Zurich, and Accra.

October 7, 2018. Dubai, UAE – In another first for CEIBS Global EMBA, the graduation ceremony for the class of 2016 was held in Dubai today! The 90 proud graduates, a multinational cohort of business leaders and executives, received their degrees from CEIBS Vice President and Dean Professor Ding Yuan during a ceremony held at the American University of Sharjah (AUS).

Read of for highlights of their journey, from their unique point of view:

“In September 2016, we chose to start a new journey together, open to change and eager to learn.

During the past two years, we have shared the joys and challenges of learning.

We have exchanged experiences in our lives and our careers, confronted challenges faced together, gained strength and inspiration from each other to move ahead and beyond.

As time went by, we have become close companions.

We are CEIBS Global EMBA 2016.

Part 1 Studying Together

During the outdoor day of the opening leadership module, we gained a better understanding of ourselves and our team members.

【Back to Campus】
During a week-long leadership module to open the programme, we developed a better understanding of what kind of leader we are, and developed close bonds with our new classmates.

Team discussion on Mergers and Acquisitions during the Zurich Global Elective module.

【Peer Learning】
Facilitated by experienced professors, we fulfilled our goal of mastering cutting-edge business knowledge. We also learned a lot from our excellent classmates. We discussed and worked together both in and after class. We even worked out together on the sport fields to better connect with each other.

Students from around the world gather on the Zurich campus

【Overseas Modules】
We embraced different cultures throughout the programme. In Spain, we learned about the European economy; in Ghana, we developed a deeper understanding of how to do business in Africa; in India, we experienced the local economic environment; in Israel, we were impressed by the strong culture of entrepreneurship.

The diverse class led to heightened intercultural communication

【Dual Tracks, One GEMBA】
We were lucky to be in the first dual track format for CEIBS Global EMBA. For overseas modules and elective modules, the two tracks merged into one big class. Frequent communication and interaction made our two-year journey more diverse and fruitful.

Learn together, graduate together

【Never Say Goodbye】
Finally, we graduated. But the learning never ends. We expect to meet more alumni through the global network of CEIBS and learn together in the future.

Part 2 Fulfilment

A farewell is not always about sadness. We have gained knowledge, wisdom, friends and partners over the past two years and now, a bright future is out there.  

Team work during the Strategic Simulation module

【Knowledge and Wisdom】
The GEMBA programme enriched our business knowledge. In the oral defence of the Capstone Project, everyone performed well to conclude the learning journey.

Cheers to life-long friendships!

【Friendship】
In and after class, on and off campus, we worked hard and played hard together. We gained good memories and friendship, and became close companions.

Group picture of CEIBS Global EMBA 2016

【Intercultural Communication Competence】
We come from 20 different countries and regions. We worked hard to understand each other and embrace our differences. Through this process, we gained a better understanding of intercultural communication.”

Congratulations on Your Graduation
Global EMBA 2016
Once in a Lifetime, Together for a Lifetime

Berlin. September 28 to 30 – CEIBS alumni from across Europe gathered in Berlin at the end of September for the school’s largest European alumni reunion held to date. The two-day gathering was the first in a new rotation arrangement, with a different CEIBS chapter country hosting the reunion each year. Over 80 MBA, EMBA, GEMBA and FMBA alumni made the trip to Germany from over 10 countries including the UK, France, Poland, The Netherlands, South Africa and China. They represented class years dating back as far as 1998, right up to current students from MBA2019.

Friday 28 September

A “Welcome to Berlin” reception kicked off the weekend activities on Friday the 28^th. Hosted by Yuen-Ling Lok (MBA11) and Przemyslaw Widacki (MBA13), the evening consisted of quick-fire updates and speeches from CEIBS Vice President & Dean Prof. Ding Yuan; President of the Nanjing Alumni Association Chapter and Managing Director of Chervon Group (sponsors of the weekend) Peter Pan; and CEO of CEIBS Zurich Campus Philipp Boksberger. Chapter highlights were presented by the president of each chapter in Europe: Johannes Muffler (Germany), Sharon Cheng (UK), Urs Casagrande and Rolf Kessler (Switzerland and the GAA), Frederik Cornu (France) as well as Cedric Devroye representing the international alumni community in Shanghai (CAIC).

Another highlight was the closing speech by CEIBS brand-new President (European) Prof. Dipak Jain who some alumni were meeting for the very first time. Prof. Jain wrapped up the speeches by inviting CEIBS President Li Mingjun and CEIBS Vice President and Dean Ding Yuan to join him on stage in a toast to CEIBS alumni.

Alumni then enjoyed a relaxed evening catching up with long-time friends, extending their network by meeting new alumni, eating, drinking, dancing and having fun in the photobooth!

Saturday 29 September

The focal point of the weekend began on Saturday morning with the CEIBS Innovation Summit, a forum designed and curated specifically for alumni on the topic “Innovation: Exploring China and Europe”. Selected Berlin professionals, including alumni from WHU, were also invited to attend.

Philipp Boksberger hosted the summit, first introducing President Li Mingjun to give the opening remarks. President Li welcomed alumni and praised their positive representation of CEIBS and the role they play in building a bridge between China and Europe. Alumni also heard from Honorary President (European) Prof. Pedro Nueno, who only recently stepped down from his position as President (European), as well Johannes Muffler, President of CEIBS Alumni Germany Chapter who spoke about CEIBS alumni’s role in Germany.  

CEIBS President Li Mingjun

Prof. Jeff Sampler, CEIBS Professor of Management Practice was the talking point of the day. Flying in from Bangkok especially for the summit, he entertained participants with his energetic keynote speech on “Reinventing Strategy for the Digital World: Insights from China and Implications for Europe” discussing how the risks of innovation can be reduced through the usage of big data.

Prof. Jeff Sampler, CEIBS Professor of Management Practice

In the first of two panel discussions, serial tech entrepreneur Michael Brehm and venture capital expert Mathis Wilke, both CEIBS alumni, debated the tech start-up ecosystem in Europe and China. Xin Chen, CEO and Co-Founder of community platform HeroBakery and an expert in entrepreneurial China, moderated the session.

Prof. Ding Yuan led the second panel discussion, navigating how to manage innovation in a traditional company.  Panellists PAN Longquan (Peter), Managing Director of Chervon Group; Marie Boltenstern, Managing Director and Head of Design at BOLTENSTERN; and Alexa Haeusgen, Member of the supervisory board at HAWE Hydraulik SE discussed the pros and cons of brand heritage vs disruptive innovation.

Prof. Ding closed the summit, inviting alumni to stay close to CEIBS and continue to play a key role in the international growth of the school.

After a lunchtime spent debating the morning’s content and basking in the September sunshine, alumni retreated to the classroom to participate in one of three workshops conducted by visiting faculty of CEIBS Zurich Campus: Transformation and Leadership with Prof. Dr. Hüseyin Özdemir, Organize for Complexity with Niels Pflaeging and Personal Transformation with Jörg Reckhenrich.

Following a jam-packed day of exploration, debate and learning, Saturday evening was spent touring Berlin on the River Spree while enjoying the company of old and new friends, a three-course dinner and music provided by a local Berlin-based band.

Sunday 30 September

To wrap up the weekend, for those still standing, a sight-seeing tour of Berlin by bike!

September 21, 2018. Beijing – Renowned Economist Professor Wu Jinglian, who has been a leading member of the school’s faculty for decades, has been appointed Honorary Professor at CEIBS. He was conferred with the honour at his home, on the eve of the Mid-Autumn Festival, during a visit by CEIBS Vice President and Dean Professor Ding Yuan, along with Beijing Office Deputy Chief Representative and Campus Operations Director Xiao Bin. For many years, Prof. Wu served as Baosteel Chair Professor of Economics at CEIBS.

During the visit, Prof. Ding presented Prof. Wu with exquisite “Tu'er Ye” figurines, works of art recognised as part of China’s intangible cultural heritage, while wishing him a happy Mid-Autumn Festival and a pleasant, healthy life ahead. That will still involve a role at CEIBS. According to Prof. Ding, the school will continue to fully support Prof. Wu’s academic work and welcome him back to campus for lectures and talks with students and alumni.

Looking in good health, the 88-year-old Prof. Wu graciously accepted the appointment, which is effective September 2018. The rest of the visit was spent engaged in a friendly exchange with Prof. Ding. With a deep interest in the development of CEIBS and its alumni, Prof Wu inquired about plans for the school’s faculty, teaching methodology and overall growth – and he spoke of his high expectations for the future development of CEIBS. Always the academic, he also shared his gains from the recent Chinese Economists 50 Forum.

Prof Wu’s ties to CEIBS have been long and strong. After an academic visit to Yale University in 1984, he became a professor with the China-EC Management Institute (CEMI), CEIBS’ predecessor. He was more than 60 years old when CEMI relocated to Shanghai and CEIBS was established in 1994. For more than 20 years he commuted tirelessly between Beijing and Shanghai for lectures with CEIBS MBA and EMBA students. It was not until last year that he stopped doing so. His lectures have always been well received and very popular.

Prof. Wu’s generosity is legendary. In 2008, he established the “Wu Jinglian Education Fund” and over the years many students have been able to access a CEIBS education because of a scholarship that helped them overcome financial barriers. Prof. Wu once commented that CEIBS could be credited with China’s successful economic development and improvements in the country’s management education. Over the years, he has supported CEIBS’ development through his actions.

As one of the most renowned economists of our time, Prof. Wu pioneered the theory of market-oriented reform in China, and promoted a market economy under the rule of law. He has remained at the forefront of both theoretical and practical knowledge, with a focus on and commitment to exploring China’s economic reform issues. A paragon of virtue with a keen interest in research, he has been influencing and guiding CEIBS alumni with his efforts to deepen reform.

In recognition of his excellence in teaching and research and special contribution to the school during his time as a full-time professor, CEIBS appointed Prof. Wu an “honorary professor” to highlight his exemplary role among the faculty and continued outstanding contribution to the school post-retirement. The appointment has widespread support among all those who have benefitted from Prof. Wu’s knowledge and expertise.

There will be an official ceremony in Beijing this November to mark the appointment. Prof. Wu will also join the CEIBS Beijing Campus’ 24^th anniversary celebration, where he will continue to share with CEIBS alumni his research and understanding of China’s economic policies, theories and practices.

September 25, 2018. Prague – The historic Prague Castle was the venue for a frank and fruitful discussion on how China and the countries of Central and Eastern Europe can work together to drive mutual economic growth. Attended by about 200 participants, the event saw keynote speeches from China’s new Ambassador to the Czech Republic, H.E. Jianmin Zhang; Governor of Czech National Bank, Mr. Jiří Rusnok; President of the New Silk Road Institute Prague and Adviser to the President of the Czech Republic, Mr. Jan Kohout; CEIBS President, Professor Li Mingjun; and CEIBS Professor of Economics and Finance, Xu Bin. It was co-organised by China Europe International Business School (CEIBS) and the New Silk Road Institute Prague.

In his first official speech as China’s Ambassador to the Czech Republic, H.E Jianmin Zhang spoke of the need for both countries to work together, especially with the rise of unilateralism and protectionism in some parts of the world. “The trade war has led to tensions in economic and trade relations among the big powers and the uncertainties have increased. China has always adhered to the principles of multilateral trading system and free trade… We will open up even further to the outside world,” he said. He noted that Sino-Czech relations have been “developing well” with data showing that two-way investment is growing rapidly. The next step, he said, would be to accelerate collaboration between both sides.

The issue of collaboration between the two countries was also touched upon by Jan Kohout who is also former Deputy Prime Minister and Minister of Foreign Affairs for the Czech Republic. He spoke of the gains already made, but also noted that there was “still a lot to be achieved”, and suggested areas in which both sides can deepen their collaboration. A lot of Chinese investors, he said, were interested in infrastructural projects, acquiring IT and high-tech companies, as well as selling their goods in the wider CEE market. “We also have expectations for China to open up their markets more. Over the past few years we have had a mutual understanding. We should also be clear about our long-term strategy as well as the laws and regulations,” he said. “We have been making progress. Today’s forum will be a great platform where we can exchange ideas that might lead to inspiration for future collaboration. One possible outcome of this forum is future projects. We welcome Chinese investors to the Czech Republic, especially in the previously mentioned areas.” He also spoke of his country as a source for high-quality labour, its interest in gaining access to the Chinese market and the potential for both countries to collaborate in R&D.

Governor of Czech National Bank (CNB), Jiří Rusnok also spoke of how both countries are working, and can continue to work, together in the field of finance. The working relationship which began in 2010 with an MOU between China Banking Regulatory Commission (CBRC) and the CNB – one of the first the CBRC signed with an EU supervisory authority – deepened in 2016 when crisis management was added to its scope. In his speech, Mr. Rusnok outlined some of the policies needed to ensure, going forward, mutual financial stability under the China-led Belt & Road Initiative (BRI). He also spoke about how the financial markets of both countries can deepen their collaboration. “We need a solid banking system, we need to reduce the negative factors for the protection of consumers, and we also need financial literacy,” he said. He then gave examples of the benefits seen from the CNB’s system of “integrated supervision” which allows for a focus on systemic risk, information-sharing synergies, strong technical and professional support, and autonomous decision-making. He also noted that there is a consolidation of financial market regulation and supervision at the national level that creates conditions for the effective exchange and integration of relevant data, and potential consolidation of analytical work. “We are working with our Chinese counterparts on knowledge and experience sharing, for example on topics such as financial stability,” he said. “I firmly believe we can work together to share more experience between us.”

Areas of future potential cooperation between China and the Czech Republic, he noted, could include financial stability and stress-testing; supervision of the consumer credit markets and non-banking financial sector; as well as macro-prudential policy that could prevent bubbles in asset markets, build up sufficient capital buffers, and see a coordination with monetary policies. He also spoke of the challenges ahead that may constitute hurdles to his vision of cooperation, including what he described as a “substantial imbalance in mutual trade”, less transparent governance and ownership structures of some Chinese entities, and unclear investment strategies of some Chinese investors. “Future Czech-Chinese relations should be mutually beneficial,” he stressed. “We truly welcome the initiative taken by China to open up their market further to the outside world. We believe this could help us to promote our cooperation further.”

The theme of a mutually beneficial relationship was continued by CEIBS Professor of Economics and Finance, Xu Bin who used economic data to provide lessons China and the Czech Republic can learn from each other and highlight how they can collaborate. He pointed to similarities between the two countries: services account for a large share of their GDPs and help both countries maintain low unemployment levels, both are very attractive to outside investors, both are still growing (relatively) very fast, and economic growth in both is being driven by capital and technology. After providing a macro-economic comparison of both countries Prof. Xu then highlighted six things China can learn from the Czech Republic, including how to urbanise but still preserve its cultural heritage; how to improve trade in services; how to provide healthcare to an aging population; how to find the right balance in taxes on income, profits, and capital gains; how to tackle air pollution; and how to successfully manage exchange rate and other financial sector issues related to international trade and foreign direct investment. 

The forum comes at a historic moment in time: the 40^th year of China’s reform and opening up, the 15^th anniversary of the China-EU Comprehensive Strategic Partnership, and the 5^th anniversary of the Belt & Road Initiative. China regards the CEE as a potential driver of European economic growth, as well as a significant partner and destination for investment and, as CEIBS President Professor Li Mingjun noted in his welcome speech, the Czech Republic is a major component of China’s relationship with the CEE. “Since [China’s] President Xi Jinping’s visit to the Czech Republic in 2016, the political, economic, and cultural exchanges between both countries have continued to advance and bilateral trade has developed healthily. China is the Czech Republic's largest trading partner outside the EU and the second largest source of imported goods in the Czech Republic; meanwhile the Czech Republic is China's second largest trading partner in Central and Eastern Europe,” he noted. “Under the vision of China's ‘One Belt, One Road’ initiative and ‘16+1 cooperation’, building on the momentum of the ‘Golden Age’ of Sino-Czech relations, we are here today full of hope, to provide a platform for an exchange of views and cooperation between enterprises.” He also spoke of the work CEIBS has already done in this regard, such as last year’s collaboration with the SINO-CEE Fund to launch the ERICEE, an initiative that has led to CEIBS’ academic collaboration with the 16 countries of the CEE, its national-level think tanks, and renowned business schools, and providing intellectual support to the relevant state departments for cooperation in the CEE. All these efforts are complemented by the Prague forum, which is a “bridge to work with European partners to promote business cooperation between China and Europe,” said Prof. Li.

The event was rounded out with two panel discussions featuring leading Chinese and Czech executives. The first discussion covered practices and examples for investing in both countries. Panellists included CEO of SINO-CEEF Europe, Jin Chen; President of the Czech Chamber of Commerce, Vladimír Dlouhý; Executive Director of COSCO SHIPPING Lines (Central Europe) s.r.o., Zhongming Luo; President of Zhejiang Huajie Investment Development Co., Ltd., Fengde Zhang; and Chairman of Deloitte (Czech Republic), Josef Kotrba.

The day ended with a panel discussion on “New Space for China-Czech Cooperation” which saw input from Chairman of the Board and Managing Director at ČEZ ESCO, Kamil Čermák; Chairman of the Association of Small and Medium-sized Enterprises of the Czech Republic, Karel Havlícek; Country Manager at Dahua Technology Czech s.r.o, Zhenyu Hu; Chairman of the Board at Czech General Aircraft, Petr Hýl; and Business Group Manager of Huawei Technologies (Czech), Peter Basek.

The forum is one of five being hosted by CEIBS, China’s leading international business school, with partners across Europe. The events are part of the wider CEIBS Insights 2018 initiative, launched to mark the 15^th anniversary of the China-EU Comprehensive Strategic Partnership by observing the role that CEIBS has played and continues to play in fostering Sino-European ties. Prior to the Prague event, CEIBS hosted forums in Munich and London on July 17 and 19, respectively. The next events in the CEIBS Insights Europe Forum 2018 series will be held in Paris on October 19 and Zurich on October 24.

About CEIBS

China Europe International Business School (CEIBS) is among the top international business schools in Asia, where it is the only one to have simultaneously made it to the Financial Times’ top 30 list of MBA, EMBA, and Executive Education programmes.

CEIBS has more than 20,000 alumni from more than 80 countries worldwide, and has provided a broad range of management programmes for more than 150,000 executives both at home and abroad. CEIBS’ faculty team is uniquely equipped to deliver a combination of China Depth and Global Breadth in both teaching and research.

CEIBS has campuses in Shanghai, Beijing, Shenzhen, Zurich, and Accra.

September 21, 2018. Beijing – The CEIBS Insights 2018 Reception in Beijing was held today at the Four Seasons Hotel Beijing on the theme of Challenges, Opportunities, & the Way Forward for the Chinese Economy. The event attracted representatives from more than 10 European embassies, including France, Germany, Finland, Spain, and Romania, along with numerous business leaders and members of the CEIBS alumni community. Among those in attendance were Chinese Ministry of Foreign Affairs Counsellor Shi Xiaotong, European Union Minister Counsellor Günther Marten, and CEIBS Vice President and Dean Prof. Ding Yuan.

In his welcome address, Prof. Ding emphasised the importance of the cooperation between the Chinese and European governments in helping CEIBS develop into a world-class business school and the leading business school in Asia in the less than 25 years since it was founded. He further stated that the reception, hosted on the eve of China’s annual Mid-Autumn Festival, was an opportunity for the school to give back to its many European friends and partners. Prof. Ding was joined by Former Director General of the Financial Survey and Statistics Department at the People’s Bank of China (PBoC), Counsellor to Shanghai Municipal Government, and CEIBS Professor of Economics and Finance Sheng Songcheng and CEIBS Associate Professor of International Business and Strategy Shameen Prashantham as presenters at the event.

As part of his keynote address on The Reform and Opening-up of China’s Service Industry and its Future Developments, Prof. Sheng spoke about the rising status and growth potential of China’s tertiary (service) industry and offered some thoughts on how to reinvigorate the service industry through deepening the process of reform and opening-up. Echoing the words of China’s General Secretary Xi Jinping during the 19th CPC National Congress held last year, Prof. Sheng stated that there is a growing imbalance in China between people’s growing need for a better life and the development of services intended to support that need, including those related to employment, education, healthcare, housing, and elderly care.

As a step toward closing the gap between the two, Prof. Sheng pointed to China’s intentions to broaden market access for service providers, in particular for those in sectors such as finance and insurance. In particular, Prof. Sheng cited the recent move to reduce the number of restrictive measures included in the Special Administrative Measures on Access to Foreign Investment (commonly referred to as the “the Negative List”) from 63 down to 48 as an example of one way in which the Chinese government is trying to promote foreign direct investment in the country’s domestic service industry.

In the day’s second keynote address, Prof. Prashantham delivered a talk on Doing Business with Startups in China in which he argued that, in today’s business environment, new value and growth may not be within a company’s own current boundaries and that firms – both start-ups and multinational corporations – may need to establish relationships with other, often dissimilar, companies to solve problems together. Furthermore, he went on to say that, in order to succeed in this new business ecosystem, companies need to adopt what could be referred to as an “ecosystem mind-set.” While noting some of the challenges new ventures and established, large corporations face in working together, Prof. Prashantham said he believes there are substantial benefits to both parties, including increased legitimacy, improved learning, and enhanced market access.

During his talk, Prof. Prashantham also offered some advice for MNCs looking to work with smaller, local partners in China and other emerging markets. In particular, he highlighted the importance of establishing mutually beneficial conditions, establishing an intermediary or broker as a network entry point, and developing projects which could be used to both nurture and showcase promising partnerships. Finally, he emphasised the need for foreign companies to differentiate themselves from homegrown rivals, align themselves with partner programmes with national priorities, and leverage local government policy efforts as three keys to ensuring greater success.

The Beijing reception was the second of a two-part series of China-based CEIBS Insights events, the first of which took place in Shanghai on September 12. The events are part of CEIBS’ efforts to promote China-EU communication and cooperation in business and culture on the 15th anniversary of the China-EU Comprehensive Strategic Partnership. The Beijing reception also comes just ahead of the next CEIBS Insights 2018 Europe Forum in Prague on September 25. The Europe series wraps up with two more forums next month in Paris (October 19) and Zurich (October 24).

For more information about the speakers at the CEIBS Insights Beijing reception, please visit our faculty profiles page here. For full coverage of the CEIBS Insights 2018 Europe Forum series, visit our website here.

September 14, 2018. Shanghai – CEIBS Vice President and Dean Professor Ding Yuan and CEIBS Associate Dean (Europe) Professor Katherine Xin will be among the more than 2,000 participants from 111 countries participating in the World Economic Forum’s Annual Meeting of the New Champions held this year in Tianjin, China. The summit, unofficially referred to as ‘Summer Davos’, will take place on September 18-20 and will cover areas such as innovation, science & technology, and promoting entrepreneurship in the global public interest. The event also seeks to address some of the current economic, political, societal, and environmental challenges relating to the Fourth Industrial Revolution.

During the summit, Prof. Xin will moderate a session which will look at some of the factors surrounding overseas investment by Chinese state-backed enterprises and the private sector. During the session, which has the title of China Outbound Investment: A New Playbook?, panellists will discuss a number of related topics, including strategic regions and industries leveraged by the Belt and Road Initiative, investment in critical infrastructure and assets, approaches to global joint ventures, as well as mechanisms for balancing investment and social responsibility.

In addition to her role as Associate Dean, Prof. Xin also serves as a Professor of Management, the Bayer Chair in Leadership, Director of the Hospitality Executive MBA Programme, and Co-Director of the Centre for Globalization of Chinese Companies at CEIBS. She has extensive teaching, research, and consulting experience in universities and multinational companies around the world. Her areas of specialisation include leadership, organisational culture, change management, and strategic human resource management.

Prof. Ding, who is a regular participant at both the summer event as well as the WEF’s annual winter summit in Davos, Switzerland, will also serve as a discussion leader during the China Outbound Investment session. In addition to serving as Vice President and Dean, Prof. Ding holds the position of Cathay Capital Chair Professor in Accounting at CEIBS. He has lectured extensively on topics such as financial accounting, international accounting, and corporate governance and has published multiple books on financial reporting and financial analysis. As well, Prof. Ding has served as both editor and editorial board member for numerous international academic journals.

The China Outbound Investment session at the Annual Meeting of the New Champions will be a closed-door session; however, both Professors Ding and Xin will be available to the media for interviews on this session and related topics. Prof. Ding can also speak on the wider issue of Chinese firms’ globalisation process. Prof. Xin can also speak on the same topic of globalisation from a management, leadership, and HR point of view.

For more information about Prof. Ding’s experience, publications, and interests, visit his CEIBS faculty profile here.

To learn more about Prof. Xin’s academic background and teaching and research interests, see her CEIBS faculty profile here.

September 12, 2018. Shanghai – CEIBS Professor of Economics and Finance, Sheng Songcheng, who is also former Director General of the Financial Survey and Statistics Department at the People’s Bank of China (PBoC) and Counsellor to Shanghai Municipal Government, anticipates that the country’s service industry will be a major focus as China pushes ahead with reform and opening up. In fact, he said, China had itself taken initial steps, before the current trade war with the US, to open up the increasingly important service sector; but the results will take time to become evident. 

He also spoke of the service sector’s “huge growth potential”, saying it will “rise in status as the economy develops”. “There has been steady progress in China’s efforts at urbanisation. I expect to see more pent-up demand from the service industry in the future,” he said. Meanwhile, with the upgraded living standards seen in the major cities, urban residents will also continue to spend on areas such as travel, education, healthcare, home purchases etc., he added. 

Prof. Sheng, who is also Executive Deputy Director of the highly-regarded think tank CLIIF, was speaking to members of the European Union’s diplomatic community in Shanghai and business executives during this evening’s forum on Sino-EU Cooperation. The venue was CEIBS Shanghai Campus. The event is part of CEIBS’ efforts, on the 15th anniversary of the China-EU Comprehensive Strategic Partnership, to fulfil its role as a platform to further enhance China-EU communication and cooperation, both in business and culture, along with providing a window of China's reform and opening up in the education sector.  As CEIBS Vice President & Dean Professor Ding Yuan explained, today's event was a way to share CEIBS' wealth of knowledge with the European diplomatic and business communities in China.  

In his speech, Prof. Sheng laid out the current situation in China’s service industry, the challenges being faced, and then offered suggestions on how to deepen the on-going reform and opening up. With an abundance of data to back up his argument, he told the audience that, even though the official numbers show that the service sector is growing (accounting for 54.3% of GDP in the first half of this year), in his personal opinion, its real contribution to the country’s overall GDP may be even greater than is being reported. China’s aggregate GDP might be underestimated due to an underestimation of its service industry, he said.

Turning his attention to the challenges facing the service sector, he pointed out that an aging population would nevertheless bring opportunities for the insurance industry. “An aging population is the new reality facing us and what is badly needed in this scenario is services,” he said. “We need to pay attention to the high-potential insurance sector and introduce reform measures.”   

He also framed his support for deepening reform and opening up of the service sector within the context of the positive impact such a move would have on the country’s exchange rate and trade balance. Pointing out that the largest share (38%) of FDI went to real estate between 2012 and 2016, he spoke of the need to have more of these funds – as well as domestic investment – flowing into education and healthcare, both of which saw almost no investment from FDI over the same period. 

He ended by reminding his audience of measures the Chinese government has already taken to open up the country’s service sector: formulated a concrete plan to phase out foreign equity caps in all financial sectors by 2021; the elimination of restrictions on foreign investment in railway passenger transportation, international marine shipping and international shipping agency; and a lifting of the ban on foreign investment in business premises for internet access services – all from the Negative List released on June 28.  He also spoke of measures already taken by Shanghai to open up the country’s service sector to foreign and domestic investors in the financial sector, the automobile, aircraft and shipbuilding industries, as well as healthcare, complemented by strengthening the protection of intellectual property and optimising the environment to make it easier to do business in and with China. 

“China has opened to the world in many areas but the service industry will become the main focus,” he said. “The industry enjoys promising prospects and welcomes investors from home and abroad to share the fruits of the reform and opening-up policy.”

Prof. Sheng was one of the keynote speakers during the day’s event which also included a speech by CEIBS Associate Dean & Professor of Management Juan Antonio Fernandez who explored how to do business in and with China in the years ahead. There was also an address by Jacques Godfrain, President of the Charles de Gaulle Foundation, which worked with CEIBS on the event. Today’s forum was the first of two planned for the European diplomatic community in China. The next event will be in Beijing on September 21.