Confidence to Tackle Technology Challenges Rising Chinese Firms Better Than Global Peers in Taking Proactive Steps, Says Deloitte
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CHINA DAILY | HONG KONG EDITION Friday, March 29, 2019 | 21 BUSINESS BOAO FORUM FOR ASIA Confidence to tackle technology challenges rising Chinese firms better than global peers in taking proactive steps, says Deloitte By ZHOU LANXU and tion of them — MA ZHIPING in Boao, Hainan has a big oppor tunity to positive Chinese business leaders are more ly change the confident and prepared in addressing world, but has the challenges brought by new tech also posed great nologies than those in many other challenges. To countries, said Cindy Hook, CEO of thrive in the Deloitte AsiaPacific, a global consult Cindy Hook, future, Hook ancy firm, on Thursday. CEO of Deloitte believes busi While many business leaders in AsiaPacific nesses should The Zhuhai section of the Hong Kong–Zhuhai–Macao Bridge in Guangdong province. ZHANG YOUQIONG / FOR CHINA DAILY the rest of the world take a protective strengthen cross approach to using technologies, Chi border cooperation and prioritize na’s leaders would like to “disrupt diversity and inclusiveness in corpo their sectors” and facilitate real rate cultures — all to maximize the changes, Hook said on the sidelines ideas and angles to tackle the chal Greater Bay Area to foster regional integration of the Boao Forum for Asia. lenges. “Chinese enterprises are looking A key part of achieving diversity is By YANG HAN in Boao, Hainan omist of the ASEAN+3 Macroeco together to create “a bigger pie”. at the technologies available — to close the gender gap in business [email protected] nomic Research Office. But as technology will lead to job whether it’s artificial intelligence, leadership, which is especially large Hong Kong has a full “Technology is connectivity. The displacement, Gupta said govern big data or the like — to actually in the AsiaPacific region, including The GuangdongHong Kong more connectivity we (Asia) have, ments and companies should think come up with wholenew business China. Macao Greater Bay Area will foster agenda (for its the more benefits will be generated about the redistribution of profits models and wholenew approaches According to a report from McKin closer collaboration and integra development) and and the more synergy we will have,” for the public good. to doing things, not just improving sey Global Institute released last tion within the region, an industry he said. Jenny Shipley, former prime min the old processes.” year, slightly less than four women official said. we need to upgrade The ASEAN+3 comprises the ister of New Zealand, noted the With the readiness for technolo held leadership positions for every 10 Vincent Lo Hongsui, chairman our own economy, 10 Association of Southeast challenges of public policy in the gies, China is likely to lead on many men in business and politics, world of the Hong Kong Trade and Devel Asian Nations, and China, Japan age of 5G technology. “We need to … aspects of the unfolding Fourth wide in 2016. The figure fell to one for opment Council, said: “It (the GBA) not just simply focus and South Korea. The 10 member get past the anxiety of suspicion and Industrial Revolution, such as four for the AsiaPacific region, and is a key concept of making the on finance or real states of ASEAN are Indonesia, get the evidence, so that the govern ecommerce, smart cities and the one for five in China. members of the region closer.” Thailand, Vietnam, Singapore, ment can confidently evaluate the internet of things, Hook said. Many businesses do not see gender According to Lo, the region’s cur estate. We (HK) need Malaysia, the Philippines, Myan innovation and make decisions,” The country’s impact on the revo equality as imperative because of soci rent GDP is about $1.5 trillion, to play an integrated mar, Cambodia, Laos and Bru she said. lution will be enlarged by its opening etal norms, but this has actually con equivalent to that of South Korea. nei. Carlos Gutierrez, chairman of up determination, she added, citing strained their talent pools and thus “Hong Kong has a full agenda role.” Asia will continue to integrate, Albright Stonebridge Group, a stra the fresh openingup measures financial performances, Hook said. (for its development) and we need Vincent Lo Hong-sui, chair Khor added, noting the global chal tegic advisory firm, said competi announced by Premier Li Keqiang at In contrast, by giving all employees to upgrade our own economy, not man of the Hong Kong Trade lenge of protectionism. He said the tion in the field of new digital the forum on Thursday. — both women and men — the same just simply focus on finance or real and Development Council rules of the game must be reset for technologies like 5G should be Her remarks were based on a opportunity to be their best, Deloitte estate. We (HK) need to play an countries from different regions to about companies versus compa Deloitte research, named 2019 has benefited a lot, especially by way integrated role,” said Lo, who is also of the Boao Forum for Asia Annual work together in the name of multi nies, instead of governments Deloitte Industry 4.0 Readiness of attracting the very best talents the chairman of Hong Kongbased Conference 2019 this week in South lateralism. against governments. Report. The research surveyed more across the world, she said. Shui On Group. China’s Hainan province. The topic Echoing Khor’s view, Diwakar “It should be a commercial than 2,000 global executives and Deloitte is trying to inspire its cli “Hong Kong has never been of the panel session was Dialogue Gupta, vicepresident for private advantage for companies, and this public sector leaders in 19 countries, ents, including in China, to leverage strong in technology, but we do with Thinkers: Innovation and sector and cofinancing operations at is how business works,” said Guti including about 130 from China, the capacity of half of humanity, to have some advantages that can Openness — New Vitality of Asian the Asian Development Bank, said errez, a former secretary of com about how they are prepared to help them thrive in the future, Hook work with the ecosystem, such as Economies. multilateral collaboration is impor merce of the United States. “The embrace the revolution. said. with cities like Shenzhen in com Digital technologies promote tant for the region. “Collaboration, technology is going to be made by According to the report, the revo mercializing the technologies.” integration and cooperation in in the end, will not be harmful,” he companies, whether public or pri lution — which features the booming Contact the writers at Lo was speaking on the sidelines Asia, said Khor Hoe Ee, chief econ said, calling on countries to work vate, but not governments.” new technologies and the combina [email protected] Stock Market Performance GainersGainers and andLosers Losers International Stock Markets Daily YTD Daily Daily Daily YTD % Chg Index Close % Chg % Chg GAINERS Close % Chg LOSERS Close % Chg Close % Chg –15% 0% +15% Shanghai Stock Exchange Composite Index 2994.94 –0.9 +20.1 Shanghai Stock Exchange Hang Seng Index 28,775.21 0.2 3250 China United Travel Co 5.36 10.06 Fujian Furi Electr 6.90 –10.04 Hang Seng China Ent Index 11,294.81 –0.1 3050 Chongqing Gangjiu Co 6.13 10.05 Zhejiang Conba Pharma 10.15 –10.02 TAIEX Taiwan Stock Index 10,536.26 –0.1 BeijingJingchengMachEl 8.55 10.04 ShanghPdngRd&BrdgCnstr 7.55 –10.01 Nikkei 225 21,033.76 –1.6 2850 Orient Intl Enterprise 18.77 10.02 China Natl Sftw & Svc 54.50 –10.01 Sensex 38,499.04 1.0 KOSPI 2,128.10 –0.8 2650 ZhejiangJinghuaLasrTch 22.29 10.02 Xinjiang Tianrun Dairy 16.11 –10.00 Shangying Global Co 12.41 10.02 KPC Pharmaceuticals 11.25 –10.00 S&P/ASX 200 6,176.08 0.7 2450 New East New Materials 15.06 10.01 TianJinGlblMagneticCrd 8.28 –10.00 New Zealand 50 Gross Index 9,766.19 0.7 Dalian Bio-Chem Co Ltd 30.28 9.99 Anhui Quanchai Engine 11.61 –10.00 Straits Times Index STI 3,205.90 0.2 Nanjing Panda Electr 11.92 9.96 Zhejiang Shouxiangu Ph 44.91 –10.00 Bangkok SET Index 1,630.82 0.1 Bursa Malaysia KLCI Index 1,641.33 –0.1 Shenzhen Stock Exchange Component Index 9546.51 –0.7 +31.9 JiangsuLianyungangPort 6.24 9.86 Xiamen Goldenhome Co 78.41 –10.00 VN-Index 982.98 0.7 11,000 Shenzhen Stock Exchange Dow Jones 25,625.59 –0.1 10,000 Kinghand Indstr Invst 7.02 10.03 Guizhou Xinbang Pharma 6.01 –10.03 Yotrio Group Co Ltd 3.95 10.03 Chengzhi Co Ltd 27.32 –10.01 9000 ZTE Corp 29.34 10.01 ShijzhngChngshnBMngTch 6.75 –8.66 Commodities 8000 MeishengCultural&Crtve 9.36 9.99 Zhefu Holding Group Co 4.92 –8.55 Daily YTD % Chg BeijingHualuBainFlm&TV 7.60 9.99 Yinyi Co Ltd 4.17 –8.15 Close % Chg –30% 0% +30% 7000 Sou Yu Te Group Co Ltd 3.44 9.90 Hongda Xingye Co Ltd 5.26 –7.88 Brent Crude Oil (USD/bbl.) 67.38 –0.7 Muyuan Foodstu Co 59.83 7.30 Do-Fluoride Chemicals 14.97 –7.71 Gold (USD/t oz.) 1316.90 –0.3 FoshanNtnstrOptlctrncs 14.21 7.16 Harbin Gloria Pharma 5.06 –7.50 Silver (USD/t oz.) 15.30 –0.8 Walvax Biotechnology 25.09 6.31 ZhongshanBroadOceanMtr 5.37 –7.41 Copper (USD/lb.) 2.86 0.3 Shanghai Shenzhen CSI 300 Index 3728.40 –0.4 +23.8 GuangdongHomaAppliancs 6.15 5.49 Tahoe Group Co Ltd 17.48 –7.32 Aluminum (USD/MT) 1902.50 1.4 3950 Corn (USD/bu.) 3.74 –0.9 Hang Seng Wheat (USD/bu.) 4.70 0.1 3700 China Mengniu Dairy Co 27.95 5.47 Sino Biopharmaceutical 6.91 –1.00 Soybeans (USD/bu.) 8.88 –1.5 3450 Link REIT 91.30 3.22 WH Group Ltd 8.51 –0.93 Coee (USD/lb.) 0.94 –1.6 Wharf RealEstate Invst 58.65 2.27 Hengan International 69.00 –0.72 Sugar #11 (USD/lb.) 0.13 –0.6 3200 New World Development 12.76 2.24 Galaxy Entertainment