Business Elites Discuss Business Strategies for a post-COVID World

For Immediate Release

PRESS RELEASE
 
Business Elites Discuss Business Strategies for a post-COVID World

June 30, 2020, HK: The third webinar organized by China Daily, themed “Getting Your Business Ready for a post-COVID World”, was held today with the aim of helping businesses gain new insights and opportunities in the current challenging environment. Some 300 business leaders from across the world registered and attended the online event.

Countries across Europe and Asia are planning to reopen their borders for intercity travel to stimulate economic recovery. Under a “fast lane” arrangement, people from Singapore and six provinces on the Chinese mainland can make essential business or official trips without being subjected to the mandatory 14-day quarantine. As the progress of reopening the major economies hinge on the global public-health situation, how different business sectors can be well prepared for the post-COVID world?

The webinar consists of two parts. Prof. Andrew SHENG, Distinguished Fellow, Asia Global Institute, the University of Hong Kong, talked about the “For-Active Policies to Help Re-Open COVID Economies” in the first part, analyzing measures the business sector can take to speed up economic recovery.

Prof. Sheng pointed out that we're moving into the 5G technological disruption era and poverty will rise because the poorest are affected the worst. He described it as a very unusual situation. There is no theory to guide us. This is something that is completely out of the textbook. No textbook can describe it.

He said that the politics geopolitically and domestically will be very complicated for at least the next two or three years. Because there is a huge trauma, as well as a lot of emotion, anger and protests. These result in populism, border conflicts and national security fears.

Although there’re signs that COVID-19 is being contained in some regions across Asia, it still takes time for local economic activities to recover as the pandemic threat has yet to be eradicated on a global scale. According to a survey released by the Hong Kong government in June, both large and small-and-medium-sized enterprises were still seeing subdued business sentiment. What innovative strategies the traditional industries can adopt under such a challenging business environment?

The second part of the webinar features three prominent speakers -- Mr. Suthiphand CHIRATHIVAT, Executive Director, Central Group; Executive Director, ASEAN Studies Center at Chulalongkorn University; Ms. Elaine SHIU, Director, Ejj Holding Limited; COO, Luways Travel Company Limited; and Mr. Sunny TAN, Executive Vice-President, Luen Thai Holding; Deputy Chairman, Federation of Hong Kong Industries -- who will share their insights and survival strategies in the “new normal” commercial environment.

Suthiphand CHIRATHIVAT said digital transformation is significant in the post-pandemic world and what his company doing is to think of what technologies can fascinate consumers and how to respond to the changing consumer habits.

Elaine SHIU said the pandemic has significant impact on the travel industry. People are stuck in Hong Kong while all business travelers as well as vacation travelers are not able to get to Hong Kong. This really hurts companies like hers. What her company really can do at this moment is to focus on local tours.

Sunny TAN said that it’s a tough time in the industry. Only the fittest and only the one who has the right financial management and are willing to bring down the overhead and operating costs will survive.

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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.