CEIBS Innovation Forum Beijing
China must cooperate and coordinate with Europe and other countries and regions in the face of shifting global dynamics, with real opportunities still existing for enterprises hoping to expand both into and out of the country provided they do so with strategic insight and careful consideration, according to views shared at the CEIBS Innovation Forum Beijing on March 18.
From the results of the 2024 US presidential election to continued trade tensions around the world, China's aim of achieving continued, stable economic growth is faced with mounting challenges. The CEIBS Innovation Forum Beijing took place in the context of the Chinese government's recently held annual Two Sessions, a keenly watched event that provides a signpost toward upcoming economic policy in the country. This year, analysts and business leaders looked to the Sessions to glean insight into how China plans to react to the economic uncertainties posed by a new American administration, how the country's business environment will be affected by both global and domestic forces, and the near-term prospects of what many describe as the most important economic relationship in the world: that between China and the United States.
CEIBS Associate Professor of Marketing, Associate Dean, and Director of MBA Programme Zhang Lingling
Co-organised by CEIBS and the Center for China and Globalization, with support from the European Chamber of Commerce in China, Caixin Media, and the China-Italy Chamber of Commerce, the forum focused on the theme "Navigating a New Reality: Strategies for Businesses in a Rapidly Changing Global Environment", aiming to provide clarity and actionable insights into how business leaders can prepare for an uncertain climate. The event was hosted by CEIBS Associate Professor of Marketing, Associate Dean, and Director of MBA Programme Zhang Lingling.
CEIBS Vice President and Dean Frank Bournois
In a welcome address opening the forum, CEIBS Vice President, Dean, and Professor of General Management and Leadership Frank Bournois emphasised CEIBS' key role in helping decision makers adapt, make better choices, and lead their teams appropriately amidst a shifting economic landscape and geopolitical complexity.
"My first message is the transformative role of applying new technology and working collectively, not alone," Prof. Bournois said. "My second is that in a state of flux in China, Europe and global relations, we must acknowledge that something like an earthquake, or seismic geopolitical shift, has taken place; in the face of these changes, we need to see that China and Europe remain very deeply interconnected."
"My third message," Prof. Bournois continued, "is about innovation, because sometimes in extremely complex times there is room for innovation and new solutions. And my final message is to emphasise the importance of empowering future leaders in China and Europe, because education always works better than ignorance. CEIBS is about action and implementing change."
Former Chinese Vice Minister of Finance Zhu Guangyao
The first keynote speech of the forum was then delivered by Former Chinese Vice Minister of Finance Zhu Guangyao, who outlined his thoughts on the biggest challenges currently facing China, Europe, and the rest of the world. Citing climate change and geopolitical upheaval as key shared difficulties, Minister Zhu emphasised the policies of the new Trump administration as the core global challenge of 2025, in responding to which he said that China and the European Union should strengthen policy communication and coordination, build trust, and work more closely together to play a constructive role.
Outlining the relative strengths of the Chinese and American economies amidst today's trade tensions, Minister Zhu said, "the US still plays a leading role globally and militarily, but China's industrial output is 34% of the global total, a figure which is higher than every country in the G7 combined." Minister Zhu also stated his belief that much of Trump's policies are related to domestic political aims, citing the five strategic goals of tax cuts, strengthening the defence industry, imposition of tariffs, deregulation, and territorial expansion, insisting that the rest of the world should strive to protect multilateral institutions like the World Bank, United Nations, International Monetary Fund and the World Trade Organisation which are under threat thanks to current US policy.
In conclusion, Minister Zhu asserted that the "world must work together to protect the WTO as the core of the global trade system; this is in line with every country's interest, including the United States, and China must coordinate with developing countries as well as Europe, Japan and other developed countries to maintain the global trading system," adding that, in terms of China-US relations, China must insist on a policy of mutual respect, peaceful coexistence, and win-win cooperation .
CEIBS Essilor Chair Professor in Accounting and Associate Dean Xu Dingbo
This was followed by a second keynote speech delivered by Xu Dingbo, Essilor Chair Professor in Accounting and Associate Dean at CEIBS, on the theme "The Great Global Competition – The Recent Past and the Future". Prof. Xu opened his presentation by noting that debates about global trade and the merits of globalisation far precede Donald Trump's first presidency, before using data to show that globalisation remains in good health, albeit with some causes for concern. "Looking at world trade in goods and services, we can see that total exports have continued to increase," Prof. Xu said. "However, looking at total export growth rate, volatility increased dramatically, which is a cause for concern."
Prof. Xu then went on to give a data-driven analysis of today's global economic environment. "In fact, the EU has suffered more than China has from geopolitical tensions," he said, noting that this demonstrates the need for the EU and China to work together. When comparing American and Chinese GDP growth, Prof. Xu argued that we must note inflation rate and exchange rate, which reveals China's relative success compared to the US in terms of purchasing power parity and challenges the effectiveness of recent US policies in containing China's growth. In giving a full-throated defence of globalisation and open trade, Prof. Xu asserted that "'trade imbalance represents foreign savings, which should not be seen as a dirty word."
In conclusion, Prof. Xu outlined five reasons that he remains cautiously optimistic about globalisation. First, he noted that, for almost all countries , the most important national challenges are internal, rather than external or related to geopolitical or trade issues, for example America's high levels of government borrowing and China's struggle to attract top global talent; second, the relative decline of the US as the world's leading economy points to a less unipolar world, in which Europe can and should play a greater role; third, globalisation has led to many beneficial outcomes despite current political trends stating the contrary, including pulling 800 million people out of poverty in China; fourth, globalisation drives competition, which is a leading driver of innovation and technological and social development; and finally, the West's policy of "decoupling" and containment may slow but cannot stop China's progress.
Panel Discussion
The forum then moved onto an interactive panel discussion moderated by Prof. Zhang Lingling, focusing on the theme "Thriving in a Changing World: New Opportunities for International Enterprises". The participants in the panel discussion were Gianni Di Giovanni, Chairman Eni China BV, Chairman Eni Energy (Shanghai) Co., Ltd, and EVP Eni China Rep Office; Zhang Haowei, Lead Partner, International Trade and Supply Chain, KPMG China and CEIBS GEMBA 2016 alumnus; Mike Liu, Vice President, Senior Fellow, Center for China and Globalization (CCG), Former President of Greater China, Infosys, and Former President of Greater China, DXC Technologies, Inc.; and Kevin Sun, Deputy General Manager, Transcend Vivoscope Biotech and CEIBS MBA 2007 alumnus.
Professor of Economics at Fudan University and author of the book "How China Works" Lan Xiaohuan
The forum then concluded with a third keynote speech given by Lan Xiaohuan, Professor of Economics at Fudan University and best-selling author of the book "How China Works". In a presentation on the theme "China's Economy from the Perspective of the Global Industrial Chain", Prof. Lan systematically elaborated on the unique advantages of Chinese manufacturing in the context of the transformation of global industrial chains and outlined the underlying logic supporting China's industrial development.
He pointed out that Chinese manufacturing holds a significant position globally, accounting for about one-third of the world's manufacturing output. When forecasting the future trends of manufacturing at a time in which global industrial chains are being restructured, Prof. Lan said that three key questions must be addressed: What are the advantages of Chinese manufacturing; Can developed countries bring manufacturing back; And, can other developing countries catch up with China? When addressing these questions, Prof. Lan said, understanding the advantages of Chinese manufacturing is the most important. In 2000, China's manufacturing value-added was only 50% of that of the United States, Prof. Lan noted; however, it surpassed the US in 2009 and was double that of the US by 2023. "This leap is not just a quantitative accumulation but also a qualitative transformation in the construction of knowledge networks," he emphasised. By deeply integrating into the global division of labour in industrial chains, China has formed a unique "learning network" - starting from component manufacturing, gradually internalising technical parameters and production experience, and ultimately achieving breakthroughs in independent innovation. Using EVs as an example, Prof. Lan noted that Chinese factories have broken through the traditional logic of economies of scale, achieving flexible production of "small batches and multiple varieties" through industrial clusters. This dynamic scale effect is difficult for most countries to replicate.
Finally, Prof. Lan cited the case of DeepSeek, stating, "What has shocked the world about DeepSeek is not just its technological prowess but also the openness represented by its open-source ecosystem." He concluded that the core driving force for the replacement of old systems with new ones is always greater openness, which aligns with the vision of "a community with a shared future for mankind."
In addition to the forum, in the days leading up to the event CEIBS Vice President and Dean Frank Bournois visited the Beijing offices of several globally renowned companies including Total, Pharmaron, and Shell with a delegation from the school. These visits underlined the importance that CEIBS places on building deep and meaningful relationships with the business community and maintaining mutual understanding, trust and exchange between enterprise and academia.
CEIBS Innovation Forum
The CEIBS Innovation Forum series was launched in 2015 and is committed to promoting the integration of knowledge and practice, while serving the transformation and development of business in China. The series provides insights into current business and economic trends with a focus on topics relevant to urban and regional development. To date, over 50 events have been held in 30 cities around China, where more than 300 speakers have contributed their views.
In addition to the Innovation Forum Beijing, in 2025 the 10th Innovation Forum series will host events in Hong Kong (in English) and Hefei, Zhengzhou, Guiyang, Hohhot, and Suzhou (in Chinese).
Writer | Michael Russam
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