The coronavirus pandemic is a “wake-up call” for financial institutions to embrace financial technology, the development of which has accelerated as a result of the public health crisis, said Joe Ngai, senior partner and managing partner at McKinsey, Greater China. As governments worldwide enforced lockdowns and travel restrictions to curb the spread of the virus, which has so far claimed more than 206,000 lives and infected over 2.98 million people globally, the demand for remote online banking services has grown. Generally, the growth and development of fintech has intensified in terms of customer behavior, as people are now more willing to seek digital banking services, rather than going to physical banks to handle financial matters, Ngai said. “The coronavirus outbreak is a wake-up call for large financial institutions that have yet to embrace fintech, for they’ve to think about, ‘If my branches cannot open, how do I interact with my customers? If I cannot see customers face to face, how do I make credit decisions?’” he told China Daily in an interview. “Before the outbreak, financial institutions were already looking at technology. Most of them have invested in technology, but I think the coronavirus will accelerate the development.” Ngai noted that uncertainty about returns from IT investment still presents a major challenge for financial institutions in undertaking digital transformation, but there are also obstacles from the “softer” side. “When people look at how much I’m spending on IT, the return on investment is sometimes not so clear. But it’s sometimes not only around hardware, it’s also around culture, it’s also around the operation model,” he said. “For financial institutions, the most difficult thing is trying to figure out how to get better returns from their investment, how to change their culture, people and their mindset. The softer side is much more difficult for larger financial institutions. It had faced the challenge before and it will continue to be a challenge.” According to a recent report by the China Banking Association and PwC, traditional banks are, generally, adopting a positive attitude toward fintech development despite multiple difficulties, and are continuously increasing investment in the sector to win a bigger market share. But information security and regulations have been two issues that bankers are concerned about. About 57 percent of bankers surveyed said the information security risk brought by fintech is something they’re worried about most. Nearly 60 percent believe that government regulatory capabilities need to be improved to better serve fintech development. As the pandemic continues to batter global businesses and roil markets, Ngai stressed the importance of agility and adaptability for enterprises to survive and grow in this difficult time. “My advice would be to be agile. You have to maintain the agility, and the ability to change and adapt to the new environment quickly, because maybe the world would become one that would see many more such unforeseen challenges, and we have to be ready for that,” he said.
2020-04-27In an age when digital agriculture is being actively promoted, greater private capital should be injected into the agriculture industry to ensure its balanced development, according to an academic. “The financial demand for agriculture is quite large, but public capital is limited. At this point, we need to get more private funds into the industry,” Kevin Chen Zhigang, a senior research fellow at the International Food Policy Research Institute, urged on the sidelines of the Asian Financial Forum 2020 on Tuesday. China’s agriculture sector is dominated by public funds, with the central government granting more than 100 billion yuan (US$14.5 billion) to the sector annually. But, too much public capital is likely to crowd out private funds, said Chen. At present, private money accounts for just 20 percent of the total investments in agriculture. Such a proportion is far less than that in some key agricultural nations like the Netherlands, where private funds take up about half of the sector’s total investments. “But, this is easy to understand. Investors pursue profits, while agriculture is an industry with high risks and long payback periods,” said Chen. He urged the private sector to get engaged in agriculture through some blended financing models that involve both sides, such as public-private partnerships. By so doing, public money from the government and non-governmental organizations could help reduce risks that private capital may face in the initial stages. Chen noted that agricultural scientific research is one of the segments which are in need of capital. With the rapid development of mechanized and digital agriculture, new technologies have been deployed to ensure food security. Technologies, including wireless tools, data collectors and crop monitors, have been adapted during the production process. Farmers could harness real-time data on production costs, speed and output. They are also able to obtain information including how light can affect crops, and which crops are starved for water or afflicted with disease or pests. Some startups with these technologies have drawn interest from investors. VSS — a Hong Kong-based company using non-contact sensors and system construction to provide solutions for digital farming — has secured an investment from a local fund. At the same time, increasingly health-conscious consumers care more about what’s in their food, pushing vendors to boost the transparency of their supply chains and track the route of products to the market through suppliers and shippers. Food safety education is a key area for private investors as well, as it could guide consumers’ eating habits and reduce food-borne diseases, said Chen. The Food and Agriculture Organization and the World Health Organization have stressed that safe food is critical to promoting health and eradicating hunger — two of the primary aims of the Sustainable Development Goals. Safe food production also improves sustainability by enabling market access and productivity, which drives economic development and poverty alleviation, especially in rural areas. According to the WHO, investment in consumer food safety education has the potential to return savings of up to US$10 for each dollar invested.
2020-01-15Riding high on the goals and undertakings to build sustainable communities around the world, deep-pocketed financial institutions have a bigger role to play in investing for a greener and better future for mankind, a China Daily Asia Leadership Roundtable in Hong Kong heard on Tuesday. As people today try to carve out workable solutions for a slew of pressing issues, including food waste and environmental pollution that hang like a Sword of Damocles over their heads, the role that public funds could play is very limited, Kevin Chen, chair professor of Zhejiang University and senior research fellow at the International Food Policy Research Institute, said at a panel discussion themed “Rewriting the Investment Strategy: Climate Change and Food Security”, held as part of the annual two-day Asia Financial Forum. “By contrast, private funds have a growing and key role to play in filling the huge investment gap. No matter how many solutions we have at hand, you do need investments to make them happen,” he said. “The private investment community should judge itself as a player and a driver for sustainable initiatives.” Natalie Chan, a senior adviser with the Civic Exchange, warned that with an expanding global population and rapid urbanization, the challenge facing the planet is real and serious. “In China, specifically, by 2030, almost 70 percent of the population that would be over a billion will actually be living in urban cities,” she said. The year 2030 is the deadline set by the United Nations for its sustainable development agenda. At the heart of the bold and structured agenda are a new, universal set of sustainable development goals that UN member states will be expected to use to frame their agendas and political policies. Based on statistics, Chan pointed out that people living in the cities consume 50 percent more energy, 40 percent more water and 30 percent more food than their counterparts in rural communities. “This is only the story on the demand side. On the emission side, what’s going on is very much similar,” she noted. “Together, it leads to sort of a vicious cycle. The point is how we could break and turn the cycle.” Guo Xiaofei, director of green and sustainable finance of corporate and investment banking Asia Pacific at Natixis, believed that on the demand side, the issuer today has the asset, while on the supply side, the investor has the capital. “So, the more relevant issue is how we can play this market scale up.” Citing green bonds, one of the most mature green finance instruments in the market at present, as an example, Guo said: “The question is how we can ensure that more and more issuers feel comfortable stepping into the market and, from the investor side, how they can constantly integrate environmental, social, and governance indicators into their investment strategies.” She stressed there’s a lot of work, particularly in Asia, to be done to essentially build up market confidence. Citing the ongoing Australian bushfires, the sheer devastation of which has shocked the world, Hannah Routh, partner, sustainability and climate change advisory leader at Deloitte China, said the bushfires have essentially propelled climate risks into public debate. As governments and institutions around the world redouble their efforts to raise public awareness of the sustainable business, Routh believed there’re really some encouraging signs. “Issues like climate change have become a topic of conversation among the general public, not just for the climate enthusiastic like me, but people in the streets are talking and thinking about how climate changes will impact them,” she said. She noted recent encouraging signs include recent moves by the Hong Kong Stock Exchange, which has issued stricter and more demanding requirements for ESG reporting for listed companies. All Hong Kong-listed companies, therefore, will have to describe how climate risks can affect their operations and, more importantly, how they’re going to tackle the risks. As a firm believer that the capital and institutional investors have what it takes to play “the key part” in environmental protection and climate change, Vivek Pathak, regional director of East Asia and the Pacific at International Finance Corporation, however, said he doesn’t think investors and enterprises are able to price in the risk factors in general agriculture. “As an investor, I would be very keen to know what you’re doing with water usage. It may not be very relevant today but water is not priced in most countries. It takes 15,000 liters to produce a kilo of beef and 300 liters to produce a kilo of vegetables, and when you look at the price of beef and vegetables, I don’t think they’ve been priced appropriately,” Pathak explained. He pointed out that the waste in the agriculture industry is huge. But, by utilizing good logistics, like the cold chain and fast delivery, the waste could be greatly reduced, and that would greatly benefit the whole environment. Elaborating on his own investment rationale, Pathak said he would invest in a company that is harvesting or producing crops in a way that preserves the soil and the nutrients in the soil for three years as against 18 months. He would ask questions about how the firm is rotating its crops. These are all aspects that most institutional investors would not bother to take a good hard look at. Pathak said rating agencies should also join the game and do their part, urging them to integrate the ESG indictors into their ratings, as a helpful reference for the average investor to pick out companies that are doing business in a green, environment-friendly, sustainable manner.
2020-01-15Climate change related investments are poised to climb rapidly in the coming years as risks associated with the problem intensify, while regulators worldwide are waking up to the issue, reckoned Hannah Routh, risk advisory partner with Deloitte China. Investors need to take a longer term view... Think about the opportunities as much as the risks The raging and protracted wildfires gripping Australia, Routh said, have propelled climate change into the public limelight, prompting the general public to talk and think about how climate change will impact their lives. This shows an increase in the general awareness of risks associated with climate change, and related physical damage. Regulators across the Asia-Pacific region, such as Hong Kong’s Securities and Futures Commission, Hong Kong Stock Exchange and the Hong Kong Monetary Authority and the Monetary Authority of Singapore, as well as their counterparts around the world, are beginning to delve into the climate issue more often than before, suggesting that any related regulation could be implemented sooner than later, said Routh. Chinese mainland businesses, according to Routh, are quite sophisticated in relation to climate change, as China has been championing the idea of green finance for some time. Investments under the Belt and Road Initiative — the flagship outbound investments of the world’s second-largest economy — could also be considered as the destination for the next wave of investors in terms of green finance, she said. Having worked for 25 years in the field of climate change, Routh sees herself as a climate optimist. But, the optimism has been seriously challenged in recent years as climate science shows the urgency of decarbonisation. To begin with, there’s a lack of “investable projects” with a real impact. Such a shortage needs to be addressed urgently, she warned. “It’s not the lack of money; it’s not the lack of projects; it’s the gap.” Although many investors have signed up international initiatives on climate change, such as the Task Force on Climate-related Financial Disclosures. It’s still too early to tell if these commitments are filtering through to actual investments quickly enough. Adding to the dilemma is the requirement that companies have to submit financial reports to their investors on a quarterly basis no matter what. According to Routh, even if companies want to invest to reduce carbon emissions, that might pay back over three years. These companies fear that would have a negative impact on their next quarterly report. “Investors need to take a longer term view,” she said. This would allow businesses to invest and build for the long term. “Think about the opportunities as much as the risks,” said Routh, indicating a bright future is still ahead despite a bumpy ride along the journey.
2020-01-15China is making good progress in aligning itself with international standards for green bonds in order to create a more harmonized framework to attract global investors, says an expert in green and sustainable financing. Unlike Europe, where green finance is driven by investors, China adopts the top-down, policy-driven approach which boosts the fast development of the country’s green finance market, Guo Xiaofei, director of green and sustainable finance of corporate and investment banking Asia Pacific at Natixis, told China Daily on the sidelines of the 13th Asian Financial Forum in Hong Kong on Tuesday. In the first half of last year, the total amount of green bonds issued on the Chinese mainland surged to US$21.8 billion — up 62 percent on the same period in 2018. According to Guo, the contributions came mainly from regional banks and the private sector. Although nearly half of the entire volume of green bonds issued by the mainland is in line with international standards, the country is making strides in meeting world green finance standards in issuing offshore bonds, Guo said. In 2018, the G20 sustainable finance study group, led by the People’s Bank of China, continued to advocate green finance worldwide. Besides, the Network for Greening the Financial System, co-initiated by China, and which is a global network of central banks and supervisory authorities propelling a more sustainable financial system, has brought in more members, further strengthening the collaboration. According to an annual report on China’s green finance development issued by the PBOC, Chinese green bond issuance exceeded 280 billion yuan in 2018. Guo said the top sectors in China’s green bond market are energy, transportation and real estate. “Asian investors are getting more and more aware of green finance,” she said, adding that six Chinese investment organizations have signed up the United Nation Principle for Responsible Investing. “This is a very clear signal sent to the market that Chinese investors are focusing on ESG (environmental, social and corporate governance).” When structuring green bonds, green loans and sustainable supply chain finance, Guo, who heads Natixis’ sustainable finance activities for the Asia-Pacific market, stressed that green integrity is the key point for issuers that focuses on what can be seen as green and make the structure robust enough. Meanwhile, issuers should avoid any possible greenwashing that indicates corporations labeling themselves as green financing with no outcome forthcoming, Guo added. In September last year, Natixis rolled out its Green Weighting Factor as a tool to manage its own portfolios based on their climate impact. The French investment bank embedded the mechanism into its credit process, and the evaluation kicks ahead of the credit decisions. “Natixis is the first bank in the world to actively manage the climate impact of our own balance sheet,” Guo said. The lender has developed a set of indicators to monitor the transition of its portfolio. According to Guo, Natixis has been talking to Chinese regulators to share its experiences and the concept of the Green Weighting Factor to see if it can be embedded in the Chinese market. Being actively involved in green finance globally, Natixis is the first foreign bank to sign up for the Green Investment Principles for the Belt and Road Initiative to promote green investment in the region.
2020-01-15新聞稿 即時發佈 中國日報匯聚金融領袖 探討氣候變化及食物安全挑戰下的投資新佈局 2020年 1 月 14 日,由中國日報與「亞洲金融論壇」合辦的題為「氣候變化與食物安全投資新佈局」的專題研討會在香港舉行,吸引超過200名投資者、企業決策人和金融界專業人士參會。 思匯政策研究所高級顧問陳琦,浙江大學講席教授、國際食物政策研究所高級研究員陳志鋼,國際金融公司東亞和太平洋地區總監潘偉凱,法國外貿銀行綠色與可持續金融業務董事郭曉菲,以及德勤中國風險諮詢亞太區可持續發展服務領導人Hannah Routh出席專題研討會。 思匯政策研究所高級顧問陳琦表示,商業市場隨着投資者或消費者的需求而改變,希望投資者不僅僅把自己視為市場的參與者,更要將自己看作是幫助社會解決氣候變化和食物安全問題的領導者。 浙江大學講席教授、國際食物政策研究所高級研究員陳志鋼指出,私募基金非常重要,想要可持續發展,那我們需要向私營部門尋求幫助。而私人投資則是實現可持續發展目標,以及説明人們脫離饑餓的關鍵。 國際金融公司東亞和太平洋地區總監潘偉凱強調,伴隨着人們變得富裕、人口的增長,土地供應和水資源是有限的。 我們需要首先意識到這個問題,才能有出路,但他不確定人們是否已充分認識到糧食安全和氣候變化帶來的挑戰。 法國外貿銀行綠色與可持續金融業務董事郭曉菲指出,金融機構在促進低碳經濟轉型的過程中扮演重要的角色。作為投資者,我們將不斷把ESG指標納入我們的投資戰略。 然後面對這個問題:什麼是「環保」?只有在所有市場參與者都同意這個定義後,我們才能發展這個市場。 德勤中國風險諮詢亞太區可持續發展服務領導人Hannah Routh指出,將社會問題的矛頭指向政府、機構或企業是很容易的,但我們應該做的是,讓整個商業生態系統認清其職責所在,互相尊重,共同協作,共同推動市場的發展。 關於中國日報 中國日報是中國國家英文日報,創刊于1981年,擁有報紙、網站、移動用戶端、臉譜、推特、微博、微信、電子報等十餘種媒介平臺,全媒體使用者總數超過2億。 截至2019年12月,中國日報微博粉絲數超過4650萬;微信訂閱人數700萬,用戶端全球下載使用者超過2500萬,是我國唯一下載量過千萬的英文新聞用戶端;臉譜帳號粉絲數超過8200萬,位居全球媒體帳號粉絲數第二位;推特帳號粉絲數430萬。 關於中國日報亞洲領袖圓桌論壇 亞洲領袖圓桌論壇(www.cdroundtable.com),旨在搭建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和分享見解,以增進中國與亞洲和西方國家的交流和理解。
2020-01-14For Immediate Release PRESS RELEASE Financial Experts Examine Investment Strategies amid Climate Change and Challenges In Food Security Jan 14, 2020, HK: Co-organized by China Daily and the Asian Financial Forum, a panel discussion session, themed “Rewriting the Investment Strategy: Climate Change and Food Security”, was held at the Hong Kong Convention and Exhibition Centre on Tuesday, Jan 14, 2020. The event attracted more than 200 investors, corporate heads and professionals from financial institutions across Asia. Climate change has emerged as the world’s most pressing issue in recent years. According to the World Meteorological Organization, 2015-2019 is set to be the warmest five-year period in recorded history. The burning of the Amazon rain forest and the bushfires raging in Australia have drawn international attention as well. Climate change is also threatening food security in terms of food availability, food accessibility, food utilization and food systems stability. The International Food Policy Research Institute forecasts that, by 2050, prices of rice will increase by 32 to 37 percent as a result of climate change, while yields will fall between 10 and 15 percent. For responsible investors, the realities of climate change and the challenges in food security have become important considerations in risk management strategies, as well as informing broader investment themes. Five experienced, knowledgeable professionals joined the forum. They were Ms. Natalie Chan, Senior Advisor, Civic Exchange; Dr. Kevin Chen, Chair Professor, Zhejiang University; Senior Research Fellow, International Food Policy Research Institute; Mr. Vivek Pathak, Regional Director, East Asia and the Pacific, International Finance Corporation; Ms. Xiaofei Guo, Director of Green and Sustainable Finance, Corporate and Investment Banking, Asia Pacific Natixis; and Ms. Hannah Routh, Partner, Sustainability and Climate Change Advisory Leader, Deloitte China. They shared their views on how climate change and food security considerations are driving investment strategies and taking investment decisions forward. Ms. Chan hoped that investors will see for themselves that the process of system change is not just a player and an actor, but also a driver to help our society move towards a climate-ready and food secure society. Dr. Chen said private funding is the key factor if we were to meet the sustainable development goal and make people free from hunger. Mr. Pathak said as people become richer and the population goes up, the soil and water resources we have are limited. He believes we need to recognize there’s a problem if we intend to tackle the issue. Ms. Guo urged financial institutions to play a key role in the transition towards a low-carbon economy. From the investor side, they are constantly integrating environmental, social, and governance indicators into investment strategies. Ms. Routh said the challenge for the business community regarding climate action is that the whole ecosystem must move as one. It’s easy enough to point the finger at one party, whether it’s the government, regulators, rating agencies or corporates, but what is needed is to have the entire ecosystem identify what their responsibilities are with respect to each other in order to move forward together. About China Daily Founded in 1981, China Daily covers 220 million readers and users worldwide through diversified platforms, including newspapers, websites and mobile and social media. The number of China Daily followers has now reached 46.5 million on Weibo, 7 million on the WeChat Blog platform, 82 million on Facebook and another 4.3 million on Twitter. About China Daily Asia Leadership Roundtable The China Daily Asia Leadership Roundtable is a by-invitation network of movers and shakers in Asia, providing platforms for focused dialogue, issue investigation and possible collective action on strategic issues relating to Asia’s economic, business and social development. Our aim is to enhance communication and increase mutual understanding between China, Asian and Western countries. Roundtable events are held in major cities across Asia.
2020-01-14中國日報澳門12月11日電 12月11日下午,中國日報社以“追夢粵港澳大灣區,共創共融美好生活”為主題,在澳門美獅美高梅酒店舉行了第九期“新時代大講堂”。 中國人民大學重陽金融研究院高級研究員、英國倫敦經濟與商業政策署前署長羅思義,復旦大學中國研究院院長、國家高端智庫理事會理事張維為,信德集團行政主席兼董事總經理、美高梅中國控股有限公司主席何超瓊,蘭桂坊集團主席盛智文等四位演講嘉賓圍繞習近平總書記關於粵港澳大灣區建設的重要論述,以全球化視角就如何建設粵港澳大灣區、促進地區合作與世界發展、推動構建人類命運共同體建言獻策。 外交部駐澳門特別行政區特派員公署特派員沈蓓莉、澳門中聯辦宣傳文化部副部長殷汝濤、中國日報社副總編輯曲瑩璞、澳門貿易投資促進局主席劉關華、澳門特別行政區政府法務局局長劉德學、新聞局局長陳致平,以及孟加拉、印度、莫三比克、尼泊爾、奈及利亞、菲律賓、英國等國駐香港、澳門總領事館的總領事及官員,澳門中華總商會、澳門廠商聯合會、澳門菁英會、世界旅遊經濟研究中心、澳門出入口商會、澳門銀行公會等民間機構、跨國企業近300名代表出席了本次活動。 曲瑩璞在致辭時表示,澳門文化多元,生機勃勃,特別是回歸祖國以來,經濟快速發展,每天都在向世界展示“一國兩制”的成功實踐。隨著共建“一帶一路”、粵港澳大灣區建設等國家戰略的實施,澳門迎來了重大發展機遇,世界的目光再次聚焦大灣區、聚焦澳門。在大家的共同努力下,“一國兩制”的實踐一定會綻放出更加奪目的光彩,粵港澳大灣區一定會成為 “富有活力和國際競爭力的一流灣區”。 劉關華在致辭時指出,《粵港澳大灣區發展規劃綱要》賦予了澳門新使命,澳門作為大灣區中心城市之一,在其中將發揮核心引擎作用。澳門特區政府和澳門社會都認為大灣區建設帶來了前所未有的發展機遇。她表示,今年是新中國成立70周年,也是澳門特別行政區成立20周年,澳門將更好地融入國家發展大局,充分發揮自身優勢,積極參與大灣區發展和“一帶一路”建設,為美麗、智慧的大灣區的可持續發展作出貢獻。 羅思義在演講時指出,粵港澳大灣區是中國經濟發展的領頭雁之一,也是世界上最重要的經濟中心和最具活力的地區之一,在全球價值鏈中扮演著重要角色。他對粵港澳大灣區發展充滿信心。通過對比粵港澳大灣區與美國三藩市大灣區,他認為,兩個大灣區同為全球高新技術發展的中心,加利福尼亞州雖然是美國科技最先進的州,但在5G、電子支付、高鐵建設等方面已經落後。中國在許多方面已迎頭趕上並超越美國,之前有人指責中國公司從美國竊取某項技術,但那項技術美國還沒有。他建議,粵港澳大灣區要繼續加強基礎設施建設,此外,在科技發達的地區,尤其要重視文化的支撐作用。 張維為介紹了新中國成立70年來特別是改革開放40年來取得的偉大成就,並指出中國的成功在於找到了適合自己的發展道路和行之有效的制度體系。中國以混合經濟模式穩健發展經濟,以“選拔加選舉”和“協商民主”制度和平崛起,這對其他發展中國家有借鑒意義,讓世人看到了中國制度的顯著優勢。他強調,粵港澳大灣區建設是國家實施的重大戰略,也是“中國模式”的重要組成部分,給香港和澳門帶來了重大機遇,也帶來一些挑戰。大灣區各城市開展良性競爭,深化分工協作,共同完善價值鏈、供應鏈,會迸發出強大的創新活力和發展動力,將有力推動中國經濟發展並造福世界人民。 何超瓊分享了她和信德集團在促進粵港澳互聯互通與協作發展、推進澳門經濟多元發展、對外推廣澳門方面所作的努力和對大灣區未來發展的思考。她表示,在澳門工作的20多年,自己親身推動並見證了珠三角日益融合。她認為,粵港澳大灣區的發展要進一步突出文化藝術的作用,在同根同源的文化背景下,深化大灣區的溝通與合作,加強人才資源、經濟資源分享。她認為,澳門要形成自身獨有的DNA,並以澳門的好平臺充分用好國家政策,要把會展旅遊產業等特色經濟作為發展重點之一,建設好世界旅遊休閒中心,推進經濟多元發展。 盛智文分享了自己48年來在香港、澳門和內地投資的經歷和思考。他認為,改革開放以來,中國取得的巨大成就充分證明了中國領導人的遠見卓識,粵港澳大灣區有政府的周密規劃,具備全球領先的製造業基地、國際金融中心、旅遊休閒中心等有利條件,擁有巨大的消費群體,大灣區的美好願景一定會成為現實。他表示,大灣區的未來要靠年輕一代,呼籲粵港澳地區特別是澳門年輕人要開拓視野,增強創新意識,積極投入大灣區建設。他堅信,大灣區的發展趨勢不可擋,將成為世界上最強大的灣區之一,希望中外企業家繼續在大灣區投資興業,共同發展。 中國日報社於2018年初創辦了“新時代大講堂”,充分利用其自身國際化、全媒體、多語種、多平臺的優勢,通過創新敘事演講的方式,打造新時代向世界傳播中國聲音的新平臺。每期活動均選取具有世界意義的中國話題,邀請中外意見領袖同台交流,從國際視角出發,回應世界對中國熱點問題和重大主張的關切,揭示中國故事背後的世界意義,為闡釋和傳播構建人類命運共同體的中國方案、中國智慧作出貢獻。此前,“新時代大講堂”已在北京、天津、杭州及美國、英國、南非等地成功舉辦八期。
2019-12-22Editor’s note: The grand Guangdong-Hong Kong-Macao Greater Bay Area plan will be a wellspring of activity in South China, and Macao can play a significant role in the area, officials, business leaders and scholars said at the “Greater Bay Area: Building a Mega Powerhouse” forum in Macao on Dec 11. The forum is the latest among a series of Vision China events since it was launched in January 2018. The events, which serve as a bridge for communication between China and the rest of the world, feature well-known Chinese and overseas opinion leaders discussing Chinese topics of international significance. ‘Great expectations’ for Macao’s role Macao is poised to play a major role and contribute its strengths to the development of the Guangdong-Hong Kong-Macao Greater Bay Area, Irene Lau Kuan-va, president of Macao Trade and Investment Promotion Institute, told Vision China. The outline development plan for the Greater Bay Area was released by the central government in February. It described the area as a “powerhouse”, with Macao as its “core engine” driving regional development, Lau said in Macao on Dec 11. This demonstrated the trust the central government had placed in Macao, as well as the great expectations for the special administrative region’s future. Both the Macao government and its people were confident that taking part in the development of the Greater Bay Area would bring opportunities for future development, Lau said. Being one of the core cities, Macao aimed at developing itself into a world-class tourism and leisure center, she said. It would also serve as a commercial and trade cooperation service platform between China and Portuguese-speaking countries to promote economic development and enhance international markets. Lau said the goal was to develop a “base for exchange and cooperation where Chinese culture is the mainstream and diverse cultures coexist”. She said the development of the Greater Bay Area as an innovation and technology corridor and big data center would also be pursued. The Macao Trade and Investment Promotion Institute has been tasked by the Macao government to promote external trade, attract investment, nurture the development of the convention and exhibition industry and drive economic cooperation between China and Portuguese-speaking countries. This year marks the 70th anniversary of the founding of the People’s Republic of China and the 20th anniversary of the establishment of the Macao SAR. Lau said that over the past two decades, Macao has achieved rapid economic growth. Macao has maintained its status as a free port and separate customs territory with a transparent, nondiscriminatory and open economy, adding up to a business-friendly environment, Lau said. These achievements have been acknowledged internationally. The development of the Greater Bay Area is expected to foster the development of the regional economy, promote integration and cooperation, and enhance China’s competitiveness in the global market, she added. Bay Area in vanguard of China’s rise The Guangdong-Hong Kong-Macao Greater Bay Area is in the vanguard of China’s global economic rise, said John Ross, senior fellow at the Chongyang Institute for Financial Studies at Renmin University of China. Technological development in the region stimulated the integrated development of the entire Bay Area, which also contributed to the development of the world economy, Ross said in a speech at Vision China in Macao on Dec 11. Ross is a former director of economic and business policy for the mayor of London. From an economic perspective, Ross said, it is significant to look at the fundamentals of the Bay Area and its long-term strategic development. “There are no other centers of development of high technology in the world, which match either the California one or the Bay Area,” Ross said, adding that China is beginning to move ahead of the US in some technology fields. Technological development can determine many other features of the entire region, he said, including skilled workers, changing infrastructure needs, and the high influx of visitors. “These features define the Greater Bay Area as one of the most important economic centers in the world,” Ross said. The Bay Area is working hard on developing itself into an international innovation and technology hub. It consists of nine cities in Guangdong province and the two special administrative regions of Hong Kong and Macao, with the region’s GDP accounting for about 12 percent of the national GDP. Q&A In terms of the Greater Bay Area, San Francisco area and the extremely high technological development you mentioned, how do you see long-term progress? Do you see competition or cooperation between the two in the long term? This is really going be decided by the US government, isn’t it? American high-technology companies want to cooperate with China. They have started R&D inside China and they have employed a large number of Chinese researchers and so on. They want to cooperate because, frankly, they would like to ‘steal’ some ideas from China. But China has also taken some ideas from the United States. Business magnate sees bright future for region Young people can find opportunities in multiple sectors in the Guangdong-Hong Kong-Macao Greater Bay Area, as the area’s potential will continue to grow stronger, said prominent Hong Kong businessman Allan Zeman. Zeman, founder of Hong Kong nightlife district Lan Kwai Fong, made the comment at the Vision China forum in Macao on Dec 11. He urged youngsters to look at things with different eyes and see things other people do not see. As a successful businessman, Zeman said, he always looks at things as “not what they are, but what they could be”. Through this perspective, he said the bay area shows tremendous promise. Last year, the gross domestic product in the area reached US$1.5 trillion and it had 70 million residents. By 2030, it is likely to have 80 million people and the GDP could grow to US$3.5 trillion. Seeing the vision of China, Zeman came across the world from Montreal to Asia decades ago. He has been living in Hong Kong and Macao for 48 years, and his best known link to Macao is through his role as nonexecutive chairman of Wynn Macau, a subsidiary of US-based hotel and casino firm Wynn Resorts. Zeman had his first office on the Chinese mainland 35 years ago. In recent years, he said he has watched changes take place, which are “mind-boggling”. “So when this vision for the Bay Area came along, I’m supposed to be this visionary entrepreneur again,” he said. “And every business person around the world wants to become part of it.” Zeman noted that Hong Kong, Macao, Shenzhen and Guangzhou are four economic pillars in the area. He believes every city has its own uniqueness and they can work together as a family but still be competitive. Q&A Do you think young people understand the development plan of the Greater Bay Area, and how can they be encouraged to get more involved in it? People are very slow to react. But there are a few people who can see the future (at an early stage) and want to explore the Greater Bay Area. And once they are there, they will start to develop unicorns (high-value startup companies). They are held up as examples and start a whole wave of young people going to the Greater Bay Area. Then a whole new business society develops. ‘China model’ provides advantages The Guangdong-Hong Kong-Macao Greater Bay Area, a plan to create a globally competitive cluster of cities in the Pearl River Delta, stands as a living embodiment of foresight embedded in the unique “China model” and offers the next growth engine for the world’s second-largest economy, Zhang Weiwei, director of China Institute at Fudan University, told a Vision China event in Macao on Dec 11. Zhang, a theorist of the China model of political and economic development, said the initiative reinforces the theme of regional integration with a synergistic effect. It brings a harmonious combination of local competition and overall cooperation. It is also a vivid example of pragmatic experimentalism and creates “a new point of growth” for such a large and fast-changing country. These are winning formulas in a China model that have produced a miracle of development, Zhang noted. The influential Chinese scholar said the China model theory has gained traction in recent years. In the political domain, China has created a model that can be summarized as “selection and election”. Selection is largely based on meritocracy, and Zhang firmly believes this model is superior to the Western model of relying on popular elections. Economically, its “socialist market economy” is essentially a mixed economy: mixing the visible hand with the invisible hand, state planning with market forces. Socially, the China model is about highly positive interactions between society and the state. The uniqueness of the China model should be understood in the context of China as a “civilizational state” — a marriage of “nation-state” and “civilization-state” — that has developed from hundreds of states amalgamating into one over thousands of years. Zhang said that with a large population and territory, a long history and rich culture, the Chinese state has been ruled by a “unified Confucian ruling entity”. Q&A As China makes efforts to turn this complex vision of the Greater Bay Area into reality, what role do you think this mega initiative plays in terms of China’s broad story to the outside world? It can tell a lot about what I call the “China model”. China, as I said, is a civilizational state (a marriage of the “nation-state” and “civilization-state”). So you have to look at China in terms of regions. I can divide China into three parts: the coastal part, which is already R&D-driven — if you look at their GDP, the R&D ratio is already higher than the OECD average; the middle part, including Chengdu, Wuhan and Chongqing, which is mostly R&D and investment-driven; and the Western part, which is more or less resource driven. They complement and help each other. That’s the secret of China’s success. Within the three parts, you have multicity clusters: Beijing, Tianjin, Shanghai and this Greater Bay Area. It’s full of diversity. Each has its advantages. Ho hails collaborative ventures Prominent Macao businesswoman Pansy Ho Chiu-king offered a piece of advice on becoming a trailblazer during the development of the Pearl River Delta — be collaborative, forward-looking and persevere. The group executive chairman and managing director of Shun Tak Holdings started to visualize a decade ago how the cities within the Pearl River Delta could better connect, long before the plan of the Guangdong-Hong Kong-Macao Greater Bay Area was flagged. Working for the development of the region for 25 years, Ho said she had practical experience gained through different economic cycles. Her first insight was understanding that collaboration was more important than competition. “We all wanted one common objective — how to create (business) so that this region can come together,” Ho said at a Vision China forum. Her company was involved in one of the first joint ventures between a Macao SAR-based company and a State-owned enterprise. Together, Ho and her partner opened up new routes to connect the cities of the Pearl River Delta. She said it was the first time the notion of creating an aggregated region came to fruition. Similar projects followed, such as air and sea links based on the tried-and-true model of the joint ferry service. Ho then set her sights on the arts. She believes Macao needs to include more arts and cultural events into regional development to avoid becoming stuck in a “traditional business model.” Q&A For the Bay Area, what are some of the ways that the efficiency of the flow of people, goods and capital can be improved? It will be a bit complicated in terms of making sure everybody will be absolutely at ease with how this can all be worked out. But … I believe now that we are going into what we call AI technology, a lot of technological advancement is probably going to be crucial to help us get past some of these obstacles. Right now, I think we haven’t had the capability of visualizing how this will work, but we need to be more open-minded. It is really about asking yourself whether you welcome and champion it. If every one of us is working together and making sure this will move forward, it will definitely be an easier task than we imagine it might be.
2019-12-16The grand Guangdong-Hong Kong-Macao Greater Bay Area plan will be a wellspring of activity in South China, and Macao can play a significant role in the area, officials, business leaders and scholars said at the "Greater Bay Area: Building a Mega Powerhouse" forum in Macao on Wednesday. Prominent figures shared their thoughts at the Vision China event, hosted by China Daily. Speaking at the opening of the forum, China Daily Deputy Editor-in-Chief Qu Yingpu said integrated development of the Greater Bay Area is beneficial for Hong Kong and Macao. "Boosting integration of Hong Kong and Macao with the overall development of the country will create a world-class bay area and world-class city cluster that can be a role model for high-quality development. It will support Hong Kong and Macao, developing their economies and improving people's lives," Qu said. Macao's economy has expanded rapidly over the past 20 years since its return to the motherland. The special administrative region is also playing a key role as a global tourism and leisure center and a platform for deepening trade and economic cooperation between China and Portuguese-speaking countries. "An increasingly prosperous Macao is living proof of the successful practice of the 'one country, two systems' principle," Qu said. "Although we face some challenges today, the 'one country, two systems' principle will shine more brilliantly in Hong Kong and Macao as long as we unite as one. In doing so, the Guangdong-Hong Kong-Macao Greater Bay Area will become a dynamic, first-class area with global competitiveness and the dream of the great rejuvenation of Chinese nation is bound to come true," he said. The central government laid out the development blueprint of the Greater Bay Area in February, aiming to turn the region, traditionally known as the country's manufacturing hub, into a global innovation and technology powerhouse.
2019-12-11China is emerging as a key player in the global gaming industry, with industry executives noting that the country provides both a huge market and a pool of developers and creative talent. Participants at a China Daily Asia Leadership Roundtable in Hong Kong on Thursday noted the rapidly growing gaming market in China and the opportunities to be had in developing gaming intellectual property.China Daily Asia Pacific and BIP Asia organized the roundtable. Held on the first day of the two-day Business of IP Asia Forum, it had the theme “New Era of Cultural and Creative Industries: Opportunities for Gaming IP”. “The China games market is the biggest in the world, both in terms of revenues and the number of gamers,” said Darang Candra, head of esports research at global market research firm Niko Partners. Candra, presenting Niko Partners’ latest findings, said that in 2018 alone the Chinese mainland’s gaming revenues hit US$30.8 billion. More than 90 percent of its 767 million gamers play games on their mobile phones. He said most of these gamers are strongly drawn to esports as they like the competition and the challenge. Candra said the Chinese games market will grow further in the next few years, with revenues seen hitting over US$38 billion by 2022. And he expects esports to be a key growth driver, noting that China does not only have the world’s biggest esports market but also one with the most robust infrastructure.“Doubtless, gaming is a steadily growing and highly competitive field where good money could be made,” said Zhou Li, editorial board member of China Daily Group and publisher and editor-in-chief of China Daily Asia Pacific. In his welcoming remarks at the roundtable, Zhou said the online gaming industry “is much more robust” in the Chinese mainland compared with Hong Kong. But he believes the special administrative region will soon catch up, with the Hong Kong SAR Government pledging HK$100 million (US$12.8 million) to develop the city’s esports industry. “Hong Kong’s flagship international esports event, introduced only three years ago, has seen huge turnouts every year including in July 2019, even in the middle of civil unrest. At a time when the chips seem to be mostly down in this city, renowned American gaming brands have set up shop in Hong Kong and are actively hiring,” Zhou said. But China is not only a market; it is also seen growing as a developer of gaming IP. For example, Hong Kong-based Leyou Technologies Holdings is currently working with Amazon to produce a video game based on the popular fantasy series The Lord of the Rings.Leyou’s chairman and CEO Alex Xu Yiran said China has some of the world’s best game designers. He also stressed the importance of having gaming IP, and predicts that in the next 90 years, 90 percent of the global population will spend 90 percent of their time and disposable income in virtual worlds. Hendrick Sin, cofounder and vice-chairman of Chinese mobile gaming giant CMGE Technology Group, said Asia is yet to develop a company like Disney that can create IP that cuts across various disciplines, not just games. But he believes that an Asian version of such a company will emerge from China, as it is now a vast market not only for gaming but the entertainment industry as a whole.
2019-12-06新聞稿 即時發佈 2019年 12 月 5 日香港: 由中國日報與「亞洲知識產權營商論壇」合辦題為 「新文創時代下的遊戲知識產權機遇」 的專題研討會今日在香港舉行,吸引逾150名知識產權創造人、企業決策人和商會代表等參會。 截至2019年底,全球遊戲市場預計將達到1521億美元,其中45%(685億美元)來自手遊。亞太地區的遊戲市場規模將達到722億美元,繼續成為最大的遊戲市場。隨著手遊市場的蓬勃發展,使用者對個性化定制產品、服務的要求不斷提升,促進不同文化創意產業媒介間的相互聯繫性,從而實現了手機遊戲的國際智慧財產權貿易。 中手游科技集團有限公司聯合創始人及副董事長冼漢廸先生,樂游科技控股有限公司董事局主席兼行政總裁許怡然先生,紅點子創作(香港)有限公司創辦人及行政總裁李嘉俊先生,以及Niko Partners電子競技研究主管Darang Candra先生出席專題研討會,共同分析文化創意產業新時代帶給手遊市場的變化, 以及探討促進遊戲產業持續發展的方法。 冼漢廸说:「我們常常從兩大渠道獲得遊戲知識產權。一,是和全球的知識產權擁有者合作,如迪士尼。這種合作往往是以單獨一個遊戲為基礎進行。二,是積極投資一些具有潛力的知識產權,比如一些電視劇和動畫。當他們被孵化後,我們就會與他們在遊戲上進行合作。」 許怡然表示,遊戲不僅依賴於知識產權,也為知識產權創造價值。遊戲為知識產權持有者們提供渠道,使它們能夠廣泛地接觸自己的受眾和粉絲。遊戲也為粉絲提供了一個機會,讓他們能夠建立社交關係。 李嘉俊指出,文創是一個巨大的產業。他們所做的就是利用技術去製作更優質的動畫內容,然後與遊戲公司合作,拓展動畫內容,並在這過程中,賺取收益。 Darang Candra强调,未來一段時間內,我們應當為雲遊戲尋找優質的知識產權支持,因為雲遊戲將在亞洲大有可為。同時,我們也應為發展迅速的電競行業提供更多幫助。另外,我們在創造或發展知識產權時,應與尚未開發的品牌有更多的合作。 關於中國日報 中國日報是中國國家英文日報,創刊於1981年,擁有報紙、網站、移動用戶端、臉譜、推特、微博、微信、電子報等十餘種媒介平臺,全媒體用戶總數超過2億。截至2019年10月,中國日報微博粉絲數超過4650萬;微信訂閱人數700萬,用戶端全球下載用戶超過2200萬,是中國唯一下載量過千萬的英文新聞用戶端;臉譜帳號粉絲數超過8200萬,位居全球媒體帳號粉絲數第二位;推特帳號粉絲數430萬。 關於中國日報亞洲領袖圓桌論壇 亞洲領袖圓桌論壇(www.cdroundtable.com),旨在搭建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台,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和分享見解,以增進中國與亞洲和西方國家的交流和理解。
2019-12-05The coronavirus pandemic is a “wake-up call” for financial institutions to embrace financial technology, the development of which has accelerated as a result of the public health crisis, said Joe Ngai, senior partner and managing partner at McKinsey, Greater China. As governments worldwide enforced lockdowns and travel restrictions to curb the spread of the virus, which has so far claimed more than 206,000 lives and infected over 2.98 million people globally, the demand for remote online banking services has grown. Generally, the growth and development of fintech has intensified in terms of customer behavior, as people are now more willing to seek digital banking services, rather than going to physical banks to handle financial matters, Ngai said. “The coronavirus outbreak is a wake-up call for large financial institutions that have yet to embrace fintech, for they’ve to think about, ‘If my branches cannot open, how do I interact with my customers? If I cannot see customers face to face, how do I make credit decisions?’” he told China Daily in an interview. “Before the outbreak, financial institutions were already looking at technology. Most of them have invested in technology, but I think the coronavirus will accelerate the development.” Ngai noted that uncertainty about returns from IT investment still presents a major challenge for financial institutions in undertaking digital transformation, but there are also obstacles from the “softer” side. “When people look at how much I’m spending on IT, the return on investment is sometimes not so clear. But it’s sometimes not only around hardware, it’s also around culture, it’s also around the operation model,” he said. “For financial institutions, the most difficult thing is trying to figure out how to get better returns from their investment, how to change their culture, people and their mindset. The softer side is much more difficult for larger financial institutions. It had faced the challenge before and it will continue to be a challenge.” According to a recent report by the China Banking Association and PwC, traditional banks are, generally, adopting a positive attitude toward fintech development despite multiple difficulties, and are continuously increasing investment in the sector to win a bigger market share. But information security and regulations have been two issues that bankers are concerned about. About 57 percent of bankers surveyed said the information security risk brought by fintech is something they’re worried about most. Nearly 60 percent believe that government regulatory capabilities need to be improved to better serve fintech development. As the pandemic continues to batter global businesses and roil markets, Ngai stressed the importance of agility and adaptability for enterprises to survive and grow in this difficult time. “My advice would be to be agile. You have to maintain the agility, and the ability to change and adapt to the new environment quickly, because maybe the world would become one that would see many more such unforeseen challenges, and we have to be ready for that,” he said.
2020-04-27In an age when digital agriculture is being actively promoted, greater private capital should be injected into the agriculture industry to ensure its balanced development, according to an academic. “The financial demand for agriculture is quite large, but public capital is limited. At this point, we need to get more private funds into the industry,” Kevin Chen Zhigang, a senior research fellow at the International Food Policy Research Institute, urged on the sidelines of the Asian Financial Forum 2020 on Tuesday. China’s agriculture sector is dominated by public funds, with the central government granting more than 100 billion yuan (US$14.5 billion) to the sector annually. But, too much public capital is likely to crowd out private funds, said Chen. At present, private money accounts for just 20 percent of the total investments in agriculture. Such a proportion is far less than that in some key agricultural nations like the Netherlands, where private funds take up about half of the sector’s total investments. “But, this is easy to understand. Investors pursue profits, while agriculture is an industry with high risks and long payback periods,” said Chen. He urged the private sector to get engaged in agriculture through some blended financing models that involve both sides, such as public-private partnerships. By so doing, public money from the government and non-governmental organizations could help reduce risks that private capital may face in the initial stages. Chen noted that agricultural scientific research is one of the segments which are in need of capital. With the rapid development of mechanized and digital agriculture, new technologies have been deployed to ensure food security. Technologies, including wireless tools, data collectors and crop monitors, have been adapted during the production process. Farmers could harness real-time data on production costs, speed and output. They are also able to obtain information including how light can affect crops, and which crops are starved for water or afflicted with disease or pests. Some startups with these technologies have drawn interest from investors. VSS — a Hong Kong-based company using non-contact sensors and system construction to provide solutions for digital farming — has secured an investment from a local fund. At the same time, increasingly health-conscious consumers care more about what’s in their food, pushing vendors to boost the transparency of their supply chains and track the route of products to the market through suppliers and shippers. Food safety education is a key area for private investors as well, as it could guide consumers’ eating habits and reduce food-borne diseases, said Chen. The Food and Agriculture Organization and the World Health Organization have stressed that safe food is critical to promoting health and eradicating hunger — two of the primary aims of the Sustainable Development Goals. Safe food production also improves sustainability by enabling market access and productivity, which drives economic development and poverty alleviation, especially in rural areas. According to the WHO, investment in consumer food safety education has the potential to return savings of up to US$10 for each dollar invested.
2020-01-15Riding high on the goals and undertakings to build sustainable communities around the world, deep-pocketed financial institutions have a bigger role to play in investing for a greener and better future for mankind, a China Daily Asia Leadership Roundtable in Hong Kong heard on Tuesday. As people today try to carve out workable solutions for a slew of pressing issues, including food waste and environmental pollution that hang like a Sword of Damocles over their heads, the role that public funds could play is very limited, Kevin Chen, chair professor of Zhejiang University and senior research fellow at the International Food Policy Research Institute, said at a panel discussion themed “Rewriting the Investment Strategy: Climate Change and Food Security”, held as part of the annual two-day Asia Financial Forum. “By contrast, private funds have a growing and key role to play in filling the huge investment gap. No matter how many solutions we have at hand, you do need investments to make them happen,” he said. “The private investment community should judge itself as a player and a driver for sustainable initiatives.” Natalie Chan, a senior adviser with the Civic Exchange, warned that with an expanding global population and rapid urbanization, the challenge facing the planet is real and serious. “In China, specifically, by 2030, almost 70 percent of the population that would be over a billion will actually be living in urban cities,” she said. The year 2030 is the deadline set by the United Nations for its sustainable development agenda. At the heart of the bold and structured agenda are a new, universal set of sustainable development goals that UN member states will be expected to use to frame their agendas and political policies. Based on statistics, Chan pointed out that people living in the cities consume 50 percent more energy, 40 percent more water and 30 percent more food than their counterparts in rural communities. “This is only the story on the demand side. On the emission side, what’s going on is very much similar,” she noted. “Together, it leads to sort of a vicious cycle. The point is how we could break and turn the cycle.” Guo Xiaofei, director of green and sustainable finance of corporate and investment banking Asia Pacific at Natixis, believed that on the demand side, the issuer today has the asset, while on the supply side, the investor has the capital. “So, the more relevant issue is how we can play this market scale up.” Citing green bonds, one of the most mature green finance instruments in the market at present, as an example, Guo said: “The question is how we can ensure that more and more issuers feel comfortable stepping into the market and, from the investor side, how they can constantly integrate environmental, social, and governance indicators into their investment strategies.” She stressed there’s a lot of work, particularly in Asia, to be done to essentially build up market confidence. Citing the ongoing Australian bushfires, the sheer devastation of which has shocked the world, Hannah Routh, partner, sustainability and climate change advisory leader at Deloitte China, said the bushfires have essentially propelled climate risks into public debate. As governments and institutions around the world redouble their efforts to raise public awareness of the sustainable business, Routh believed there’re really some encouraging signs. “Issues like climate change have become a topic of conversation among the general public, not just for the climate enthusiastic like me, but people in the streets are talking and thinking about how climate changes will impact them,” she said. She noted recent encouraging signs include recent moves by the Hong Kong Stock Exchange, which has issued stricter and more demanding requirements for ESG reporting for listed companies. All Hong Kong-listed companies, therefore, will have to describe how climate risks can affect their operations and, more importantly, how they’re going to tackle the risks. As a firm believer that the capital and institutional investors have what it takes to play “the key part” in environmental protection and climate change, Vivek Pathak, regional director of East Asia and the Pacific at International Finance Corporation, however, said he doesn’t think investors and enterprises are able to price in the risk factors in general agriculture. “As an investor, I would be very keen to know what you’re doing with water usage. It may not be very relevant today but water is not priced in most countries. It takes 15,000 liters to produce a kilo of beef and 300 liters to produce a kilo of vegetables, and when you look at the price of beef and vegetables, I don’t think they’ve been priced appropriately,” Pathak explained. He pointed out that the waste in the agriculture industry is huge. But, by utilizing good logistics, like the cold chain and fast delivery, the waste could be greatly reduced, and that would greatly benefit the whole environment. Elaborating on his own investment rationale, Pathak said he would invest in a company that is harvesting or producing crops in a way that preserves the soil and the nutrients in the soil for three years as against 18 months. He would ask questions about how the firm is rotating its crops. These are all aspects that most institutional investors would not bother to take a good hard look at. Pathak said rating agencies should also join the game and do their part, urging them to integrate the ESG indictors into their ratings, as a helpful reference for the average investor to pick out companies that are doing business in a green, environment-friendly, sustainable manner.
2020-01-15Climate change related investments are poised to climb rapidly in the coming years as risks associated with the problem intensify, while regulators worldwide are waking up to the issue, reckoned Hannah Routh, risk advisory partner with Deloitte China. Investors need to take a longer term view... Think about the opportunities as much as the risks The raging and protracted wildfires gripping Australia, Routh said, have propelled climate change into the public limelight, prompting the general public to talk and think about how climate change will impact their lives. This shows an increase in the general awareness of risks associated with climate change, and related physical damage. Regulators across the Asia-Pacific region, such as Hong Kong’s Securities and Futures Commission, Hong Kong Stock Exchange and the Hong Kong Monetary Authority and the Monetary Authority of Singapore, as well as their counterparts around the world, are beginning to delve into the climate issue more often than before, suggesting that any related regulation could be implemented sooner than later, said Routh. Chinese mainland businesses, according to Routh, are quite sophisticated in relation to climate change, as China has been championing the idea of green finance for some time. Investments under the Belt and Road Initiative — the flagship outbound investments of the world’s second-largest economy — could also be considered as the destination for the next wave of investors in terms of green finance, she said. Having worked for 25 years in the field of climate change, Routh sees herself as a climate optimist. But, the optimism has been seriously challenged in recent years as climate science shows the urgency of decarbonisation. To begin with, there’s a lack of “investable projects” with a real impact. Such a shortage needs to be addressed urgently, she warned. “It’s not the lack of money; it’s not the lack of projects; it’s the gap.” Although many investors have signed up international initiatives on climate change, such as the Task Force on Climate-related Financial Disclosures. It’s still too early to tell if these commitments are filtering through to actual investments quickly enough. Adding to the dilemma is the requirement that companies have to submit financial reports to their investors on a quarterly basis no matter what. According to Routh, even if companies want to invest to reduce carbon emissions, that might pay back over three years. These companies fear that would have a negative impact on their next quarterly report. “Investors need to take a longer term view,” she said. This would allow businesses to invest and build for the long term. “Think about the opportunities as much as the risks,” said Routh, indicating a bright future is still ahead despite a bumpy ride along the journey.
2020-01-15China is making good progress in aligning itself with international standards for green bonds in order to create a more harmonized framework to attract global investors, says an expert in green and sustainable financing. Unlike Europe, where green finance is driven by investors, China adopts the top-down, policy-driven approach which boosts the fast development of the country’s green finance market, Guo Xiaofei, director of green and sustainable finance of corporate and investment banking Asia Pacific at Natixis, told China Daily on the sidelines of the 13th Asian Financial Forum in Hong Kong on Tuesday. In the first half of last year, the total amount of green bonds issued on the Chinese mainland surged to US$21.8 billion — up 62 percent on the same period in 2018. According to Guo, the contributions came mainly from regional banks and the private sector. Although nearly half of the entire volume of green bonds issued by the mainland is in line with international standards, the country is making strides in meeting world green finance standards in issuing offshore bonds, Guo said. In 2018, the G20 sustainable finance study group, led by the People’s Bank of China, continued to advocate green finance worldwide. Besides, the Network for Greening the Financial System, co-initiated by China, and which is a global network of central banks and supervisory authorities propelling a more sustainable financial system, has brought in more members, further strengthening the collaboration. According to an annual report on China’s green finance development issued by the PBOC, Chinese green bond issuance exceeded 280 billion yuan in 2018. Guo said the top sectors in China’s green bond market are energy, transportation and real estate. “Asian investors are getting more and more aware of green finance,” she said, adding that six Chinese investment organizations have signed up the United Nation Principle for Responsible Investing. “This is a very clear signal sent to the market that Chinese investors are focusing on ESG (environmental, social and corporate governance).” When structuring green bonds, green loans and sustainable supply chain finance, Guo, who heads Natixis’ sustainable finance activities for the Asia-Pacific market, stressed that green integrity is the key point for issuers that focuses on what can be seen as green and make the structure robust enough. Meanwhile, issuers should avoid any possible greenwashing that indicates corporations labeling themselves as green financing with no outcome forthcoming, Guo added. In September last year, Natixis rolled out its Green Weighting Factor as a tool to manage its own portfolios based on their climate impact. The French investment bank embedded the mechanism into its credit process, and the evaluation kicks ahead of the credit decisions. “Natixis is the first bank in the world to actively manage the climate impact of our own balance sheet,” Guo said. The lender has developed a set of indicators to monitor the transition of its portfolio. According to Guo, Natixis has been talking to Chinese regulators to share its experiences and the concept of the Green Weighting Factor to see if it can be embedded in the Chinese market. Being actively involved in green finance globally, Natixis is the first foreign bank to sign up for the Green Investment Principles for the Belt and Road Initiative to promote green investment in the region.
2020-01-15新聞稿 即時發佈 中國日報匯聚金融領袖 探討氣候變化及食物安全挑戰下的投資新佈局 2020年 1 月 14 日,由中國日報與「亞洲金融論壇」合辦的題為「氣候變化與食物安全投資新佈局」的專題研討會在香港舉行,吸引超過200名投資者、企業決策人和金融界專業人士參會。 思匯政策研究所高級顧問陳琦,浙江大學講席教授、國際食物政策研究所高級研究員陳志鋼,國際金融公司東亞和太平洋地區總監潘偉凱,法國外貿銀行綠色與可持續金融業務董事郭曉菲,以及德勤中國風險諮詢亞太區可持續發展服務領導人Hannah Routh出席專題研討會。 思匯政策研究所高級顧問陳琦表示,商業市場隨着投資者或消費者的需求而改變,希望投資者不僅僅把自己視為市場的參與者,更要將自己看作是幫助社會解決氣候變化和食物安全問題的領導者。 浙江大學講席教授、國際食物政策研究所高級研究員陳志鋼指出,私募基金非常重要,想要可持續發展,那我們需要向私營部門尋求幫助。而私人投資則是實現可持續發展目標,以及説明人們脫離饑餓的關鍵。 國際金融公司東亞和太平洋地區總監潘偉凱強調,伴隨着人們變得富裕、人口的增長,土地供應和水資源是有限的。 我們需要首先意識到這個問題,才能有出路,但他不確定人們是否已充分認識到糧食安全和氣候變化帶來的挑戰。 法國外貿銀行綠色與可持續金融業務董事郭曉菲指出,金融機構在促進低碳經濟轉型的過程中扮演重要的角色。作為投資者,我們將不斷把ESG指標納入我們的投資戰略。 然後面對這個問題:什麼是「環保」?只有在所有市場參與者都同意這個定義後,我們才能發展這個市場。 德勤中國風險諮詢亞太區可持續發展服務領導人Hannah Routh指出,將社會問題的矛頭指向政府、機構或企業是很容易的,但我們應該做的是,讓整個商業生態系統認清其職責所在,互相尊重,共同協作,共同推動市場的發展。 關於中國日報 中國日報是中國國家英文日報,創刊于1981年,擁有報紙、網站、移動用戶端、臉譜、推特、微博、微信、電子報等十餘種媒介平臺,全媒體使用者總數超過2億。 截至2019年12月,中國日報微博粉絲數超過4650萬;微信訂閱人數700萬,用戶端全球下載使用者超過2500萬,是我國唯一下載量過千萬的英文新聞用戶端;臉譜帳號粉絲數超過8200萬,位居全球媒體帳號粉絲數第二位;推特帳號粉絲數430萬。 關於中國日報亞洲領袖圓桌論壇 亞洲領袖圓桌論壇(www.cdroundtable.com),旨在搭建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和分享見解,以增進中國與亞洲和西方國家的交流和理解。
2020-01-14For Immediate Release PRESS RELEASE Financial Experts Examine Investment Strategies amid Climate Change and Challenges In Food Security Jan 14, 2020, HK: Co-organized by China Daily and the Asian Financial Forum, a panel discussion session, themed “Rewriting the Investment Strategy: Climate Change and Food Security”, was held at the Hong Kong Convention and Exhibition Centre on Tuesday, Jan 14, 2020. The event attracted more than 200 investors, corporate heads and professionals from financial institutions across Asia. Climate change has emerged as the world’s most pressing issue in recent years. According to the World Meteorological Organization, 2015-2019 is set to be the warmest five-year period in recorded history. The burning of the Amazon rain forest and the bushfires raging in Australia have drawn international attention as well. Climate change is also threatening food security in terms of food availability, food accessibility, food utilization and food systems stability. The International Food Policy Research Institute forecasts that, by 2050, prices of rice will increase by 32 to 37 percent as a result of climate change, while yields will fall between 10 and 15 percent. For responsible investors, the realities of climate change and the challenges in food security have become important considerations in risk management strategies, as well as informing broader investment themes. Five experienced, knowledgeable professionals joined the forum. They were Ms. Natalie Chan, Senior Advisor, Civic Exchange; Dr. Kevin Chen, Chair Professor, Zhejiang University; Senior Research Fellow, International Food Policy Research Institute; Mr. Vivek Pathak, Regional Director, East Asia and the Pacific, International Finance Corporation; Ms. Xiaofei Guo, Director of Green and Sustainable Finance, Corporate and Investment Banking, Asia Pacific Natixis; and Ms. Hannah Routh, Partner, Sustainability and Climate Change Advisory Leader, Deloitte China. They shared their views on how climate change and food security considerations are driving investment strategies and taking investment decisions forward. Ms. Chan hoped that investors will see for themselves that the process of system change is not just a player and an actor, but also a driver to help our society move towards a climate-ready and food secure society. Dr. Chen said private funding is the key factor if we were to meet the sustainable development goal and make people free from hunger. Mr. Pathak said as people become richer and the population goes up, the soil and water resources we have are limited. He believes we need to recognize there’s a problem if we intend to tackle the issue. Ms. Guo urged financial institutions to play a key role in the transition towards a low-carbon economy. From the investor side, they are constantly integrating environmental, social, and governance indicators into investment strategies. Ms. Routh said the challenge for the business community regarding climate action is that the whole ecosystem must move as one. It’s easy enough to point the finger at one party, whether it’s the government, regulators, rating agencies or corporates, but what is needed is to have the entire ecosystem identify what their responsibilities are with respect to each other in order to move forward together. About China Daily Founded in 1981, China Daily covers 220 million readers and users worldwide through diversified platforms, including newspapers, websites and mobile and social media. The number of China Daily followers has now reached 46.5 million on Weibo, 7 million on the WeChat Blog platform, 82 million on Facebook and another 4.3 million on Twitter. About China Daily Asia Leadership Roundtable The China Daily Asia Leadership Roundtable is a by-invitation network of movers and shakers in Asia, providing platforms for focused dialogue, issue investigation and possible collective action on strategic issues relating to Asia’s economic, business and social development. Our aim is to enhance communication and increase mutual understanding between China, Asian and Western countries. Roundtable events are held in major cities across Asia.
2020-01-14中國日報澳門12月11日電 12月11日下午,中國日報社以“追夢粵港澳大灣區,共創共融美好生活”為主題,在澳門美獅美高梅酒店舉行了第九期“新時代大講堂”。 中國人民大學重陽金融研究院高級研究員、英國倫敦經濟與商業政策署前署長羅思義,復旦大學中國研究院院長、國家高端智庫理事會理事張維為,信德集團行政主席兼董事總經理、美高梅中國控股有限公司主席何超瓊,蘭桂坊集團主席盛智文等四位演講嘉賓圍繞習近平總書記關於粵港澳大灣區建設的重要論述,以全球化視角就如何建設粵港澳大灣區、促進地區合作與世界發展、推動構建人類命運共同體建言獻策。 外交部駐澳門特別行政區特派員公署特派員沈蓓莉、澳門中聯辦宣傳文化部副部長殷汝濤、中國日報社副總編輯曲瑩璞、澳門貿易投資促進局主席劉關華、澳門特別行政區政府法務局局長劉德學、新聞局局長陳致平,以及孟加拉、印度、莫三比克、尼泊爾、奈及利亞、菲律賓、英國等國駐香港、澳門總領事館的總領事及官員,澳門中華總商會、澳門廠商聯合會、澳門菁英會、世界旅遊經濟研究中心、澳門出入口商會、澳門銀行公會等民間機構、跨國企業近300名代表出席了本次活動。 曲瑩璞在致辭時表示,澳門文化多元,生機勃勃,特別是回歸祖國以來,經濟快速發展,每天都在向世界展示“一國兩制”的成功實踐。隨著共建“一帶一路”、粵港澳大灣區建設等國家戰略的實施,澳門迎來了重大發展機遇,世界的目光再次聚焦大灣區、聚焦澳門。在大家的共同努力下,“一國兩制”的實踐一定會綻放出更加奪目的光彩,粵港澳大灣區一定會成為 “富有活力和國際競爭力的一流灣區”。 劉關華在致辭時指出,《粵港澳大灣區發展規劃綱要》賦予了澳門新使命,澳門作為大灣區中心城市之一,在其中將發揮核心引擎作用。澳門特區政府和澳門社會都認為大灣區建設帶來了前所未有的發展機遇。她表示,今年是新中國成立70周年,也是澳門特別行政區成立20周年,澳門將更好地融入國家發展大局,充分發揮自身優勢,積極參與大灣區發展和“一帶一路”建設,為美麗、智慧的大灣區的可持續發展作出貢獻。 羅思義在演講時指出,粵港澳大灣區是中國經濟發展的領頭雁之一,也是世界上最重要的經濟中心和最具活力的地區之一,在全球價值鏈中扮演著重要角色。他對粵港澳大灣區發展充滿信心。通過對比粵港澳大灣區與美國三藩市大灣區,他認為,兩個大灣區同為全球高新技術發展的中心,加利福尼亞州雖然是美國科技最先進的州,但在5G、電子支付、高鐵建設等方面已經落後。中國在許多方面已迎頭趕上並超越美國,之前有人指責中國公司從美國竊取某項技術,但那項技術美國還沒有。他建議,粵港澳大灣區要繼續加強基礎設施建設,此外,在科技發達的地區,尤其要重視文化的支撐作用。 張維為介紹了新中國成立70年來特別是改革開放40年來取得的偉大成就,並指出中國的成功在於找到了適合自己的發展道路和行之有效的制度體系。中國以混合經濟模式穩健發展經濟,以“選拔加選舉”和“協商民主”制度和平崛起,這對其他發展中國家有借鑒意義,讓世人看到了中國制度的顯著優勢。他強調,粵港澳大灣區建設是國家實施的重大戰略,也是“中國模式”的重要組成部分,給香港和澳門帶來了重大機遇,也帶來一些挑戰。大灣區各城市開展良性競爭,深化分工協作,共同完善價值鏈、供應鏈,會迸發出強大的創新活力和發展動力,將有力推動中國經濟發展並造福世界人民。 何超瓊分享了她和信德集團在促進粵港澳互聯互通與協作發展、推進澳門經濟多元發展、對外推廣澳門方面所作的努力和對大灣區未來發展的思考。她表示,在澳門工作的20多年,自己親身推動並見證了珠三角日益融合。她認為,粵港澳大灣區的發展要進一步突出文化藝術的作用,在同根同源的文化背景下,深化大灣區的溝通與合作,加強人才資源、經濟資源分享。她認為,澳門要形成自身獨有的DNA,並以澳門的好平臺充分用好國家政策,要把會展旅遊產業等特色經濟作為發展重點之一,建設好世界旅遊休閒中心,推進經濟多元發展。 盛智文分享了自己48年來在香港、澳門和內地投資的經歷和思考。他認為,改革開放以來,中國取得的巨大成就充分證明了中國領導人的遠見卓識,粵港澳大灣區有政府的周密規劃,具備全球領先的製造業基地、國際金融中心、旅遊休閒中心等有利條件,擁有巨大的消費群體,大灣區的美好願景一定會成為現實。他表示,大灣區的未來要靠年輕一代,呼籲粵港澳地區特別是澳門年輕人要開拓視野,增強創新意識,積極投入大灣區建設。他堅信,大灣區的發展趨勢不可擋,將成為世界上最強大的灣區之一,希望中外企業家繼續在大灣區投資興業,共同發展。 中國日報社於2018年初創辦了“新時代大講堂”,充分利用其自身國際化、全媒體、多語種、多平臺的優勢,通過創新敘事演講的方式,打造新時代向世界傳播中國聲音的新平臺。每期活動均選取具有世界意義的中國話題,邀請中外意見領袖同台交流,從國際視角出發,回應世界對中國熱點問題和重大主張的關切,揭示中國故事背後的世界意義,為闡釋和傳播構建人類命運共同體的中國方案、中國智慧作出貢獻。此前,“新時代大講堂”已在北京、天津、杭州及美國、英國、南非等地成功舉辦八期。
2019-12-22Editor’s note: The grand Guangdong-Hong Kong-Macao Greater Bay Area plan will be a wellspring of activity in South China, and Macao can play a significant role in the area, officials, business leaders and scholars said at the “Greater Bay Area: Building a Mega Powerhouse” forum in Macao on Dec 11. The forum is the latest among a series of Vision China events since it was launched in January 2018. The events, which serve as a bridge for communication between China and the rest of the world, feature well-known Chinese and overseas opinion leaders discussing Chinese topics of international significance. ‘Great expectations’ for Macao’s role Macao is poised to play a major role and contribute its strengths to the development of the Guangdong-Hong Kong-Macao Greater Bay Area, Irene Lau Kuan-va, president of Macao Trade and Investment Promotion Institute, told Vision China. The outline development plan for the Greater Bay Area was released by the central government in February. It described the area as a “powerhouse”, with Macao as its “core engine” driving regional development, Lau said in Macao on Dec 11. This demonstrated the trust the central government had placed in Macao, as well as the great expectations for the special administrative region’s future. Both the Macao government and its people were confident that taking part in the development of the Greater Bay Area would bring opportunities for future development, Lau said. Being one of the core cities, Macao aimed at developing itself into a world-class tourism and leisure center, she said. It would also serve as a commercial and trade cooperation service platform between China and Portuguese-speaking countries to promote economic development and enhance international markets. Lau said the goal was to develop a “base for exchange and cooperation where Chinese culture is the mainstream and diverse cultures coexist”. She said the development of the Greater Bay Area as an innovation and technology corridor and big data center would also be pursued. The Macao Trade and Investment Promotion Institute has been tasked by the Macao government to promote external trade, attract investment, nurture the development of the convention and exhibition industry and drive economic cooperation between China and Portuguese-speaking countries. This year marks the 70th anniversary of the founding of the People’s Republic of China and the 20th anniversary of the establishment of the Macao SAR. Lau said that over the past two decades, Macao has achieved rapid economic growth. Macao has maintained its status as a free port and separate customs territory with a transparent, nondiscriminatory and open economy, adding up to a business-friendly environment, Lau said. These achievements have been acknowledged internationally. The development of the Greater Bay Area is expected to foster the development of the regional economy, promote integration and cooperation, and enhance China’s competitiveness in the global market, she added. Bay Area in vanguard of China’s rise The Guangdong-Hong Kong-Macao Greater Bay Area is in the vanguard of China’s global economic rise, said John Ross, senior fellow at the Chongyang Institute for Financial Studies at Renmin University of China. Technological development in the region stimulated the integrated development of the entire Bay Area, which also contributed to the development of the world economy, Ross said in a speech at Vision China in Macao on Dec 11. Ross is a former director of economic and business policy for the mayor of London. From an economic perspective, Ross said, it is significant to look at the fundamentals of the Bay Area and its long-term strategic development. “There are no other centers of development of high technology in the world, which match either the California one or the Bay Area,” Ross said, adding that China is beginning to move ahead of the US in some technology fields. Technological development can determine many other features of the entire region, he said, including skilled workers, changing infrastructure needs, and the high influx of visitors. “These features define the Greater Bay Area as one of the most important economic centers in the world,” Ross said. The Bay Area is working hard on developing itself into an international innovation and technology hub. It consists of nine cities in Guangdong province and the two special administrative regions of Hong Kong and Macao, with the region’s GDP accounting for about 12 percent of the national GDP. Q&A In terms of the Greater Bay Area, San Francisco area and the extremely high technological development you mentioned, how do you see long-term progress? Do you see competition or cooperation between the two in the long term? This is really going be decided by the US government, isn’t it? American high-technology companies want to cooperate with China. They have started R&D inside China and they have employed a large number of Chinese researchers and so on. They want to cooperate because, frankly, they would like to ‘steal’ some ideas from China. But China has also taken some ideas from the United States. Business magnate sees bright future for region Young people can find opportunities in multiple sectors in the Guangdong-Hong Kong-Macao Greater Bay Area, as the area’s potential will continue to grow stronger, said prominent Hong Kong businessman Allan Zeman. Zeman, founder of Hong Kong nightlife district Lan Kwai Fong, made the comment at the Vision China forum in Macao on Dec 11. He urged youngsters to look at things with different eyes and see things other people do not see. As a successful businessman, Zeman said, he always looks at things as “not what they are, but what they could be”. Through this perspective, he said the bay area shows tremendous promise. Last year, the gross domestic product in the area reached US$1.5 trillion and it had 70 million residents. By 2030, it is likely to have 80 million people and the GDP could grow to US$3.5 trillion. Seeing the vision of China, Zeman came across the world from Montreal to Asia decades ago. He has been living in Hong Kong and Macao for 48 years, and his best known link to Macao is through his role as nonexecutive chairman of Wynn Macau, a subsidiary of US-based hotel and casino firm Wynn Resorts. Zeman had his first office on the Chinese mainland 35 years ago. In recent years, he said he has watched changes take place, which are “mind-boggling”. “So when this vision for the Bay Area came along, I’m supposed to be this visionary entrepreneur again,” he said. “And every business person around the world wants to become part of it.” Zeman noted that Hong Kong, Macao, Shenzhen and Guangzhou are four economic pillars in the area. He believes every city has its own uniqueness and they can work together as a family but still be competitive. Q&A Do you think young people understand the development plan of the Greater Bay Area, and how can they be encouraged to get more involved in it? People are very slow to react. But there are a few people who can see the future (at an early stage) and want to explore the Greater Bay Area. And once they are there, they will start to develop unicorns (high-value startup companies). They are held up as examples and start a whole wave of young people going to the Greater Bay Area. Then a whole new business society develops. ‘China model’ provides advantages The Guangdong-Hong Kong-Macao Greater Bay Area, a plan to create a globally competitive cluster of cities in the Pearl River Delta, stands as a living embodiment of foresight embedded in the unique “China model” and offers the next growth engine for the world’s second-largest economy, Zhang Weiwei, director of China Institute at Fudan University, told a Vision China event in Macao on Dec 11. Zhang, a theorist of the China model of political and economic development, said the initiative reinforces the theme of regional integration with a synergistic effect. It brings a harmonious combination of local competition and overall cooperation. It is also a vivid example of pragmatic experimentalism and creates “a new point of growth” for such a large and fast-changing country. These are winning formulas in a China model that have produced a miracle of development, Zhang noted. The influential Chinese scholar said the China model theory has gained traction in recent years. In the political domain, China has created a model that can be summarized as “selection and election”. Selection is largely based on meritocracy, and Zhang firmly believes this model is superior to the Western model of relying on popular elections. Economically, its “socialist market economy” is essentially a mixed economy: mixing the visible hand with the invisible hand, state planning with market forces. Socially, the China model is about highly positive interactions between society and the state. The uniqueness of the China model should be understood in the context of China as a “civilizational state” — a marriage of “nation-state” and “civilization-state” — that has developed from hundreds of states amalgamating into one over thousands of years. Zhang said that with a large population and territory, a long history and rich culture, the Chinese state has been ruled by a “unified Confucian ruling entity”. Q&A As China makes efforts to turn this complex vision of the Greater Bay Area into reality, what role do you think this mega initiative plays in terms of China’s broad story to the outside world? It can tell a lot about what I call the “China model”. China, as I said, is a civilizational state (a marriage of the “nation-state” and “civilization-state”). So you have to look at China in terms of regions. I can divide China into three parts: the coastal part, which is already R&D-driven — if you look at their GDP, the R&D ratio is already higher than the OECD average; the middle part, including Chengdu, Wuhan and Chongqing, which is mostly R&D and investment-driven; and the Western part, which is more or less resource driven. They complement and help each other. That’s the secret of China’s success. Within the three parts, you have multicity clusters: Beijing, Tianjin, Shanghai and this Greater Bay Area. It’s full of diversity. Each has its advantages. Ho hails collaborative ventures Prominent Macao businesswoman Pansy Ho Chiu-king offered a piece of advice on becoming a trailblazer during the development of the Pearl River Delta — be collaborative, forward-looking and persevere. The group executive chairman and managing director of Shun Tak Holdings started to visualize a decade ago how the cities within the Pearl River Delta could better connect, long before the plan of the Guangdong-Hong Kong-Macao Greater Bay Area was flagged. Working for the development of the region for 25 years, Ho said she had practical experience gained through different economic cycles. Her first insight was understanding that collaboration was more important than competition. “We all wanted one common objective — how to create (business) so that this region can come together,” Ho said at a Vision China forum. Her company was involved in one of the first joint ventures between a Macao SAR-based company and a State-owned enterprise. Together, Ho and her partner opened up new routes to connect the cities of the Pearl River Delta. She said it was the first time the notion of creating an aggregated region came to fruition. Similar projects followed, such as air and sea links based on the tried-and-true model of the joint ferry service. Ho then set her sights on the arts. She believes Macao needs to include more arts and cultural events into regional development to avoid becoming stuck in a “traditional business model.” Q&A For the Bay Area, what are some of the ways that the efficiency of the flow of people, goods and capital can be improved? It will be a bit complicated in terms of making sure everybody will be absolutely at ease with how this can all be worked out. But … I believe now that we are going into what we call AI technology, a lot of technological advancement is probably going to be crucial to help us get past some of these obstacles. Right now, I think we haven’t had the capability of visualizing how this will work, but we need to be more open-minded. It is really about asking yourself whether you welcome and champion it. If every one of us is working together and making sure this will move forward, it will definitely be an easier task than we imagine it might be.
2019-12-16The grand Guangdong-Hong Kong-Macao Greater Bay Area plan will be a wellspring of activity in South China, and Macao can play a significant role in the area, officials, business leaders and scholars said at the "Greater Bay Area: Building a Mega Powerhouse" forum in Macao on Wednesday. Prominent figures shared their thoughts at the Vision China event, hosted by China Daily. Speaking at the opening of the forum, China Daily Deputy Editor-in-Chief Qu Yingpu said integrated development of the Greater Bay Area is beneficial for Hong Kong and Macao. "Boosting integration of Hong Kong and Macao with the overall development of the country will create a world-class bay area and world-class city cluster that can be a role model for high-quality development. It will support Hong Kong and Macao, developing their economies and improving people's lives," Qu said. Macao's economy has expanded rapidly over the past 20 years since its return to the motherland. The special administrative region is also playing a key role as a global tourism and leisure center and a platform for deepening trade and economic cooperation between China and Portuguese-speaking countries. "An increasingly prosperous Macao is living proof of the successful practice of the 'one country, two systems' principle," Qu said. "Although we face some challenges today, the 'one country, two systems' principle will shine more brilliantly in Hong Kong and Macao as long as we unite as one. In doing so, the Guangdong-Hong Kong-Macao Greater Bay Area will become a dynamic, first-class area with global competitiveness and the dream of the great rejuvenation of Chinese nation is bound to come true," he said. The central government laid out the development blueprint of the Greater Bay Area in February, aiming to turn the region, traditionally known as the country's manufacturing hub, into a global innovation and technology powerhouse.
2019-12-11China is emerging as a key player in the global gaming industry, with industry executives noting that the country provides both a huge market and a pool of developers and creative talent. Participants at a China Daily Asia Leadership Roundtable in Hong Kong on Thursday noted the rapidly growing gaming market in China and the opportunities to be had in developing gaming intellectual property.China Daily Asia Pacific and BIP Asia organized the roundtable. Held on the first day of the two-day Business of IP Asia Forum, it had the theme “New Era of Cultural and Creative Industries: Opportunities for Gaming IP”. “The China games market is the biggest in the world, both in terms of revenues and the number of gamers,” said Darang Candra, head of esports research at global market research firm Niko Partners. Candra, presenting Niko Partners’ latest findings, said that in 2018 alone the Chinese mainland’s gaming revenues hit US$30.8 billion. More than 90 percent of its 767 million gamers play games on their mobile phones. He said most of these gamers are strongly drawn to esports as they like the competition and the challenge. Candra said the Chinese games market will grow further in the next few years, with revenues seen hitting over US$38 billion by 2022. And he expects esports to be a key growth driver, noting that China does not only have the world’s biggest esports market but also one with the most robust infrastructure.“Doubtless, gaming is a steadily growing and highly competitive field where good money could be made,” said Zhou Li, editorial board member of China Daily Group and publisher and editor-in-chief of China Daily Asia Pacific. In his welcoming remarks at the roundtable, Zhou said the online gaming industry “is much more robust” in the Chinese mainland compared with Hong Kong. But he believes the special administrative region will soon catch up, with the Hong Kong SAR Government pledging HK$100 million (US$12.8 million) to develop the city’s esports industry. “Hong Kong’s flagship international esports event, introduced only three years ago, has seen huge turnouts every year including in July 2019, even in the middle of civil unrest. At a time when the chips seem to be mostly down in this city, renowned American gaming brands have set up shop in Hong Kong and are actively hiring,” Zhou said. But China is not only a market; it is also seen growing as a developer of gaming IP. For example, Hong Kong-based Leyou Technologies Holdings is currently working with Amazon to produce a video game based on the popular fantasy series The Lord of the Rings.Leyou’s chairman and CEO Alex Xu Yiran said China has some of the world’s best game designers. He also stressed the importance of having gaming IP, and predicts that in the next 90 years, 90 percent of the global population will spend 90 percent of their time and disposable income in virtual worlds. Hendrick Sin, cofounder and vice-chairman of Chinese mobile gaming giant CMGE Technology Group, said Asia is yet to develop a company like Disney that can create IP that cuts across various disciplines, not just games. But he believes that an Asian version of such a company will emerge from China, as it is now a vast market not only for gaming but the entertainment industry as a whole.
2019-12-06新聞稿 即時發佈 2019年 12 月 5 日香港: 由中國日報與「亞洲知識產權營商論壇」合辦題為 「新文創時代下的遊戲知識產權機遇」 的專題研討會今日在香港舉行,吸引逾150名知識產權創造人、企業決策人和商會代表等參會。 截至2019年底,全球遊戲市場預計將達到1521億美元,其中45%(685億美元)來自手遊。亞太地區的遊戲市場規模將達到722億美元,繼續成為最大的遊戲市場。隨著手遊市場的蓬勃發展,使用者對個性化定制產品、服務的要求不斷提升,促進不同文化創意產業媒介間的相互聯繫性,從而實現了手機遊戲的國際智慧財產權貿易。 中手游科技集團有限公司聯合創始人及副董事長冼漢廸先生,樂游科技控股有限公司董事局主席兼行政總裁許怡然先生,紅點子創作(香港)有限公司創辦人及行政總裁李嘉俊先生,以及Niko Partners電子競技研究主管Darang Candra先生出席專題研討會,共同分析文化創意產業新時代帶給手遊市場的變化, 以及探討促進遊戲產業持續發展的方法。 冼漢廸说:「我們常常從兩大渠道獲得遊戲知識產權。一,是和全球的知識產權擁有者合作,如迪士尼。這種合作往往是以單獨一個遊戲為基礎進行。二,是積極投資一些具有潛力的知識產權,比如一些電視劇和動畫。當他們被孵化後,我們就會與他們在遊戲上進行合作。」 許怡然表示,遊戲不僅依賴於知識產權,也為知識產權創造價值。遊戲為知識產權持有者們提供渠道,使它們能夠廣泛地接觸自己的受眾和粉絲。遊戲也為粉絲提供了一個機會,讓他們能夠建立社交關係。 李嘉俊指出,文創是一個巨大的產業。他們所做的就是利用技術去製作更優質的動畫內容,然後與遊戲公司合作,拓展動畫內容,並在這過程中,賺取收益。 Darang Candra强调,未來一段時間內,我們應當為雲遊戲尋找優質的知識產權支持,因為雲遊戲將在亞洲大有可為。同時,我們也應為發展迅速的電競行業提供更多幫助。另外,我們在創造或發展知識產權時,應與尚未開發的品牌有更多的合作。 關於中國日報 中國日報是中國國家英文日報,創刊於1981年,擁有報紙、網站、移動用戶端、臉譜、推特、微博、微信、電子報等十餘種媒介平臺,全媒體用戶總數超過2億。截至2019年10月,中國日報微博粉絲數超過4650萬;微信訂閱人數700萬,用戶端全球下載用戶超過2200萬,是中國唯一下載量過千萬的英文新聞用戶端;臉譜帳號粉絲數超過8200萬,位居全球媒體帳號粉絲數第二位;推特帳號粉絲數430萬。 關於中國日報亞洲領袖圓桌論壇 亞洲領袖圓桌論壇(www.cdroundtable.com),旨在搭建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台,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和分享見解,以增進中國與亞洲和西方國家的交流和理解。
2019-12-05