Business China goes virtual with FutureChina Global Forum 2020

SINGAPORE — Business China partnered with Singapore’s IDEA Communication to launch the first virtual FutureChina Global Forum (FCGF), held from 15 to 17 September 2020. The partnership connected Business China to Chinese and ASEAN technology companies such as Lightnet for this year’s FCGF, where Mr Heng Swee Keat, Singapore’s Deputy Prime Minister, Coordinating Minister for Economic Policies and Minister for Finance, was the keynote speaker for the Opening Ceremony.

Other notable guests of honour were Minister for Trade and Industry Mr Chan Chun Sing and Senior Minister of State for Ministry of Health Dr Koh Poh Koon.

Centred around the topic of A Resilient Future: Post-Pandemic Transformation & Opportunities in China and ASEAN, the forum focused on trends and growth opportunities, to give participants the ability and knowledge to capture business opportunities post COVID-19.

Featured speakers at the forum included Skysaga Capital founder and CEO Gary Yang and Lightnet co-founder Tridbodi Arunanondcha; the latter covered three main topics with panellists at an FCGF roundtable:

  • How should industries embrace technologies to enhance cost-efficiency, utilise data and drive innovation / transformation?
  • What are the critical factors for successful technology innovation and application?
  • How can companies harness technology and avoid becoming a slave to it?

It is predicted that China’s coastal regions will be amongst the first to recover economically, post-pandemic. Companies must anticipate this growth, alongside changes in the supply chain and logistics trade flow.

The impact of this pandemic has shrunk China’s first-quarter growth by 6.8% and will approximately lower the country’s real GDP growth rate by 5% in 2020. Yet post COVID-19 growth is being forecast and Singapore is strategically positioned as ASEAN and China’s international gateway, economic hub and innovation centre.

In the wake of globalisation, technological changes will become more localised and fragmented, and China and ASEAN must continue to collaborate for synergised growth. Building new Internet infrastructure will drive economic momentum, which will help companies adapt to technological transformation. Companies and governments must cooperate to build a network-centric society to enable game-changing investments and successes in new generation technology.

Furthermore, as digitalisation continues to gain momentum and cement its edge in globalisation, it will provide emerging economies, SMEs and individuals the opportunity to acquire abundant knowledge, information, data and services. With a lasting partnership between Singapore and China, the former can significantly contribute to further stimulating growth.

Over the next decade, over 70% of potential productivity growth in major economies could be related to digital technologies. The world is on the cusp of a Fourth Industrial Revolution, with globalisation increasingly enabled by digital technologies. China in particular has placed great emphasis on new digital infrastructure to boost economic growth and business opportunities.

ASEAN is looking more towards digitisation and transformation of businesses, especially after COVID-19. It is anticipated that technological change will be further intensified with the introduction of 5G and even 6G in China, AI initiatives, robotic automation, industrial IoT and data analytics — all of which enjoy government policy support.

In its 11th edition this year, the FCGF provides an international platform comprised of panel discussions, exhibitions, networking, and thematic roundtable discussions for the sharing of analyses and experiences of the new trends surrounding China’s evolution as one of the world’s largest economies.

IDEA Communication supports Business China with topic curation and keynote speaker placement by identifying relevant accredited speakers. Alice Chan, director of Business China, said: “It was a pleasure to work with IDEA communication to leverage the firm’s broad network and strong insights in the region’s tech sector.

“The slew of speakers that IDEA Communication connected us with deepened the dimension of the dialogue and provided fresh perspective on post COVID-19 industrial upgrading, digital transformation and fintech advancement in China and ASEAN.”

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About Business China Singapore

Launched in November 2007, Business China’s mission is to nurture an inclusive and diverse faction of Singaporeans with the Chinese language as its instrument of communication, thus promoting and motivating the sustainability of our multi-cultural heritage, and establishing a cultural and economic bridge between the world and China.

With the support of the public sector and private enterprises, Business China aims to bolster the ties between Singapore and China by becoming the leading bilingual and bi-cultural medium for closer collaboration with China. It aims to establish widespread appreciation and acceptance of the Chinese language and culture within the multi-ethnic and diverse society of Singapore.

Business China’s goal is to nurture the new generations to develop deep-rooted links with China, building the ability to engage it economically, socially, culturally and educationally.

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