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Inside 6TH WORLD CHINESE ECONOMIC FORUM Vol 1 2015: December PP 8307/12/2012(032066) www.asli.com.my The Vice President of China Mr. Li Yuanchao arriving at the World Chinese Economic Forum organised Chairman World Chinese Economic Forum and CEO ASLI Tan Sri Michael Yeoh having a word with by ASLI accompanied by the Deputy Prime Minister of Malaysia Tan Sri Muhyiddin Yassin, ASLI CEO the Vice President of China Li Yuanchao whilst Deputy Prime Minister Tan Sri Muhyiddin Yassin, Tan Sri Michael Yeoh, WCEF Patron Tan Sri Lee Kim Yew, Deputy Prime Minister of Cambodia Hor Transport Minister Dato Seri Liow Tiong Lai and former President of Indonesia Susilo Bambang Namhong and former President of Indonesia Susilo Bambang Yudhoyono. Yudhoyono look on. The Prime Minister Dato Sri Mohd Najib arriving for the Innovating Malaysia Conference organised Datin Seri Rosmah Mansor wife of the Prime Minister launching the Guide to Malaysia Publication by Agensi Innovation Malaysia (AIM) and co-managed by ASLI. Behind are AIM CEO Mark Rozario, which is distributed by ASLI and published by Leisure Guide. ASLI CEO Tan Sri Michael Yeoh, Minister in Prime Minister’s Dept Dato Mah Siew Keong and ASLI Senior Vice President Ng Yeen Seen. Former Prime Minister Tun Abdullah Ahmad Badawi and Minister of Youth and Sports YB Khairy At the opening of the Asia Economic Summit, Dato Sri Abdul Wahid Omar, Minister in the Prime Jamaluddin arriving for an ASLI lunch accompanied by Tan Sri Jeffrey Cheah and Tan Sri Razman Minister’s Department, Tan Sri Dr. Jeffrey Cheah, Chairman, ASLI and Datuk Dr. Rebecca Fatima Sta Hashim. Maria, Secretary General, Ministry of International Trade & Industry. ...more inside 6TH WORLD CHINESE ECONOMIC FORUM The Vice President of China Li Yuanchao speaking to WCEF Chairman & ASLI CEO Tan Sri Michael ASLI CEO Tan Sri Michael Yeoh been introduced to the Vice President of China by CCPIT Vice Chairman Yeoh and WCEF Co-founder and Patron Tan Sri Lee Kim Yew. Yu Ping. Former President of Indonesia Susilo Bambang Yudhoyono being conferred the WCEF Benevolent WCEF Senior Programme Director Ms Ng Yeen Seen briefing the Deputy Prime Minister Tan Sri Leadership Award. From left: Sir Liu Changle Chairman Phoenix TV Hong Kong, Deputy Prime Minister Muhyiddin, Deputy Prime Minister of Cambodia Hor Namhong and former President of Indonesia Tan Sri Muhyiddin, former President Susilo, Tan Sri Lee Kim Yew and Tan Sri Michael Yeoh. Susilo Bambang Yudhoyono. The 6th World Chinese Economic Forum (WCEF) was held on 4th and The Vice President of the People’s Republic of China, H.E. Li Yuanchao in 5th December, 2014 at the Kempinski Hotel in Chongqing, China. It was his speech urged for the need to strengthen cooperation across countries hosted by ASLI in collaboration with the China Council for the Promotion in sharing development opportunities. The Chinese Government calls of International Trade (CCPIT). for maintaining and developing an open world economy, which follows the trend of economic globalisation; and to serve the common interests It brought together some 700 participants comprising state leaders, of all countries. This includes the promotion of trade and investment government officials, business leaders and academicians. The Vice- liberalisation to establish an open, inclusive, transparent and a non- President of the People’s Republic of China, Mr. Li Yuanchao officiated discriminatory global market. While China’s assertiveness was primarily and delivered the Keynote Address at the forum. Among the state driven by the need to strengthen a strong sustained growth impetus in leaders who attended the two-day summit were the Deputy Prime the post-crisis era, H.E. Li Yuanchao called for an expedite reform of Minister of Malaysia H.E. Tan Sri Muhyiddin Yassin, the former President the international economic and financial system; and improved global of the Republic of Indonesia H.E. Dr. Susilo Bambang Yudhoyono, the governance mechanisms with a view to establish a new inclusive Cambodian Deputy Prime Minister and the Minister of Foreign Affairs and international economic order. It seems quite evident that the emergence International Cooperation H.E. Mr. Hor Namhong, Mayor of Chongqing of China as a major international economic player would require the H.E. Huang Qifan, Dato’ Seri Liow Tiong Lai, the Minister of Transport pursuance of win-win partnerships. of Malaysia and Dato Mah Siew Keong, Minister in the Prime Minister’s Department of Malaysia. China’s phenomenal rise as a great power has stirred the global community. The Deputy Prime Minister of Malaysia, Tan Sri Muhyiddin Fourteen key leaders from the various countries were selected to receive Yassin commended that this year’s WCEF signifies the growing the 6th WCEF Lifetime Achievement Awards. importance and ambition attached to the Greater Chinese Economy. It stretches not just to the East and SouthEast Asia, but also reaches H.E. Dr. Susilo Bambang Yudohyono, former President of Indonesia was into the economic and social investment of the Western world. From this conferred a special Benevolent Leadership Award for his contribution to perspective, WCEF plays a key role as an integrative forum to connect the Chinese community in Indonesia. countries and entrepreneurs’ of the 21st Century Maritime Silk Road, as envisaged by the President Xi Jinping. ASEAN will be China’s largest This year, the WCEF organised and supported the Women’s trading partner by 2015, the year which coincides with the realisation Entrepreneurs and Youth Roundtables. Both roundtables sought to of the ASEAN Economic Community (AEC). At the ASEAN level, the examine and discuss ways to economically empower women and youth. Regional Comprehensive Economic Partnership (RCEP) with China Transport Minister Dato Seri Liow Tiong Lai greeting the Chongqing Party Secretary and CPC Political Chairman WCEF Global Advisory Council and MUI Chairman Tan Sri Khoo Kay Peng greeting the Bureau member Mr. Sun and Mayor of Chongqing Huang Qifan at the WCEF. Deputy Prime Minister. 2 6TH WORLD CHINESE ECONOMIC FORUM Minister in the Prime Minister’s Dept Dato Mah Siew Keong witnessing the exchange of Mou’s to Singapore Member of Parliament Ms Penny Low, former Indonesian Trade and Tourism Minister organise the 7th WCEF in London. Dr. Mari Pangestu, former 2nd Finance Minister Singapore Mrs Lim Hwee Hua and WCEF Women Roundtable Chair Dr. Jannie Chan. Distinguised speakers at the Maritime Silk Road Session. Former Lord Mayor of Melbourne Dr. John So with Dr. Tan Chin Nam Chairman Temasek Management Services and former Managing Director Economic Development Board, Singapore. presents opportunities for countries in the region to contribute to an China’s relations with ASEAN, Japan, Australia and other Asian inclusive equitable economic growth and development. The signatories countries are on the rise. These are heightened by the China-ASEAN to the RCEP will account for almost half of the world’s population, close +1 Free Trade Agreement and the China-Australia Free Trade to the same percentage of the global trade. Agreement (CHAFTA). The pattern of China’s engagement with the global economy occurs within a hegemonic system of global rules After over 30 years of sustained and fast growth, the Chinese economy under the World Trade Organisation (WTO). has entered a new normal, with a 7.4% growth rate, along with improved economic structure. Furthermore, many parts of the Chinese economy The Maritime Silk Road has become the bond between ASEAN and have been integrated into the global economy. The IMF has recently China. This represents a new economic world where trade demands for ranked China’s 11 trillion economy as the largest in the world in Purchasing greater connectivity. People to people connectivity are seen to be the key Power Parity (PPP). China occupies a unique position among the large to success. As a general comment about the Maritime Silk Road and the group of developing countries for at least four reasons, Which include: Silk Road project, promoting the initiatives over the course of economic a) its large volume of exports and trade surplus b) It is the largest trading liberalisation requires strong public and private sector partnership. One partner for over 120 countries and regions in the world c) its growing of the most striking features of the Maritime Silk Road is the merging of trade as well as investment links, with a focus on establishing the Silk 10 ASEAN countries into a trade block-building the presence of ASEAN Road Economic Belt and the Maritime Silk Road in the 21st Century, and countries in the Northern part of China and the Yangzi Economic Delta. d) its success in deepening reform in a comprehensive way. Based on this understanding, growth can be promoted through shared prosperity between China and AsEAN countries. There is a widespread Urbanisation has also caused the rise of land prices. Hence, real estate expectation that Australia and New Zealand can play an important role investment is becoming one of the largest contributors to the Chinese in promoting these strategic relations. economy. China’s current model of urbanisation has directly contributed to major issues such as pollution; the need for land reform; and financing ASLI and CCPIT would like to thank Magnum Corporation, GD Group, additional housing. In this regard, tensions were manifested in the discussion Redstone Group, The MUI Group, Riverside Group, Farlim Group, of the forum focusing on the need for China to explore on the sustainability UCSI Group, Kuok Brothers Sdn Bhd, Lippo Group, EKOVEST, of its urban environment, both in terms of the infrastructure quality as well Iskandar Waterfront Holdings, Kuala Lumpur Kepong Berhad, Bank as in the quality of design. Policy measures ought to reduce water wastage, Mayapada, Tropicana Corporation Berhad, INTI International, energy consumption and carbon emissions. This will require a fundamental University & Colleges Malaysia, China Development Institute, AirAsia, rethink of the delivery and financing of basic urban services.
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