The Second Asia New Vision Forum Opens, Contributing Asian Solutions to Global Challenges

SINGAPORE, Sept. 26, 2024 /PRNewswire/ — On September 25, the second Asia New Vision Forum opened in Singapore, focusing on the theme of “Global Challenges, Asian Solutions.” The forum was launched by Caixin Global and supported by the Singapore Economic Development Board (EDB) and the Singapore Tourism Board (STB). More than 400 decision-makers, business leaders, and experts from over 10 countries and regions attended, with the forum focusing on sustainable economic growth from an Asian perspective to help the international community better understand the real Asia and China.

Singapore’s Deputy Prime Minister Heng Swee Keat delivered a keynote speech, calling on countries to work together to address challenges through economic cooperation, technological innovation, and policy adjustments. He emphasized that Asia’s diversity is its strength, and the development of each country cannot be measured by a single standard.

In the opening dialogue session, Hu Shuli, Publisher of Caixin Media, Chairwoman of Caixin Global, Chairwoman of the Asia New Vision Forum, engaged in a conversation with Heng Swee Keat on four key topics: Asia’s innovation potential, the prospects of globalization, Asia’s demographic trends, and Singapore–China relations in the context of global cooperation.

Hu Shuli noted that Asia was once seen as a follower in technology, but is now rapidly rising in various fields. She also touched on the changes in globalization, particularly the current trend of deglobalization, and highlighted the dual challenge Asia faces in dealing with both aging populations and the growth of young populations. Lastly, Hu Shuli raised a question to Heng Swee Keat about the long-term cooperation between Singapore and China, especially regarding the future prospects of their partnership amidst the current global uncertainties.

Zhang Lihui, President of Caixin Media, delivered the opening speech and stated that Asia, with its rich blend of cultures, possesses a unique resilience to navigate global changes. The forum aims to shape an important international agenda and exchange platform from global, Asian, and Chinese perspectives, helping the international community gain a better understanding of the real Asia and China.

The forum covered approximately 30 hot topics across various fields, including biotechnology, AI, medical innovation, electric vehicles, population and consumption, carbon reduction, renewable energy, election years, financial engines, art and philanthropy. Participants exchanged observations and ideas, promoting candid discussions to encourage positive action.

The first major panel, titled “Navigating the Storm: Economic Challenges and Policy Innovations,” featured Philipp Rösler, former Vice-Chancellor of Germany; Takehiko Nakao, former President of the ADB; Bai Chong-En, Dean of the School of Economics and Management at Tsinghua University; Zhang Xiaoyan, Xinyuan Chair Professor of Finance and Associate Dean at PBC School of Finance, Tsinghua University; and Hoe Ee Khor, Chief Economist of AMRO. They analyzed the opportunities and challenges of regional cooperation among Asian economies and explored key areas for maintaining long-term economic resilience.

In the session “Dialogue with Kevin Rudd: How Middle Powers Chart Their Way Out of Great Power Competition,” Gong Xue, Assistant Professor and the Coordinator of the China Programme at the S. Rajaratnam School of International Studies, Nanyang Technological University, Singapore, engaged in a discussion with Kevin Rudd (who joined online), Australian Ambassador to the U.S., former Australian Prime Minister, on the new type of great power relations between China and the U.S.

Renowned Chinese economist Zhou Qiren, Boya Chair Professor at Peking University and Senior Professor of Economics at the National School of Development, Peking University, delivered a lunchtime keynote speech titled “Corporate Globalization and Geopolitics: A Different Kind of Game.”

To achieve net-zero goals, Asian countries are actively pursuing decarbonization through tailored strategies reflecting their unique economic landscapes. In a panel titled “Decarbonizing Asia: Different Pathways, Tailored Solutions,” Zhang Jianyu, Executive Director of the BRI Green Development Institute; Xie Yangjun, Director of the BBRICC; and others explored collaborative measures for green transformation, driving a sustainable future.

This election year is set to significantly impact Asia’s political landscape, as elections’ outcomes will likely swing Asian countries’ policy directions, economic strategies, and international relations. Kishore Mahbubani, Distinguished Fellow of Asia Research Institute, and Rick Waters, Managing Director of Eurasia Group’s China Practice, discussed how these elections will shape the future of Asia on the panel “Asia’s Political Playbook in an Election Year.”

The forum also focused on hot topics such as technological innovation, financial development and new consumption trends, with discussions like “Asia’s Tech Leap: Finding Tomorrow’s Innovations and Titans,” “AI in China,” “Fragmentation or Integration: Economic and Financial Development in Asia,” “From Asia to the World: Finance as a Propeller” and “Changing Demographics: The New Face of Consumption.”

Other key speakers on the opening day of the Forum included Cindy Khoo, Managing Director of Enterprise Singapore; Xu Qiyuan, Deputy Director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences; Maha el Dimachki, Head of the BIS Innovation Hub Singapore Centre; Andrew Sheng (who joined online), Distinguished Fellow at the Asia Global Institute, University of Hong Kong; He Haijian, Executive Director and Chief Financial Officer of Kingsoft Cloud Holdings Limited; Selina Yuan, Vice President of Alibaba Group; Gong Ke, Executive Director, Chinese Institute for New Generation Artificial Intelligence Development Strategies; Iris Wu, Interim China Head of the CFA Institute; John Cheang, Head of Asia-Pacific Region at TON Foundation; and Anna Fang, Founding Partner and CEO of ZhenFund.

As China continues to present emerging opportunities amid big-power political, economic and regulatory challenges and an evolving market landscape, investors must navigate with savvy and foresight the complexities of this large economy which is still growing. How should one prepare for potential geopolitical headwinds? Which sectors hold the greatest promise? What is the optimal timing for investment? In a special session titled “Fireside Chat with Fred Hu – Investing in China,” Fred Hu, Founder and Chairman of Primavera Capital Group, shared his views and insights on these questions.

Investing in Indonesia offers immense opportunities. Driven by its large youthful population, strategic location and abundant natural resources, the largest country in Southeast Asia is poised for significant growth across various sectors. Co-hosted by the PBC School of Finance, Tsinghua University, the forum featured a session titled “Batik in Boardrooms: The Indonesian Investment Journey,” where Gu Liangfei, Chairperson of School Council at Tsinghua PBCSF; Pandu Patria Sjahrir, Chairman of the Indonesian Fintech Association; Burkhard Ziegenhorn, Managing Director and Head of South-East Asia & Australia for Deutsche Bank’s Corporate Bank; and Mike Imam, Founder and CEO of Silverhorn Group, discussed these topics in depth.

On the evening before the forum, Lou Jiwei, former Minister of Finance of China, former Chairman of China’s National Council for Social Security Fund, delivered a keynote speech at the welcome dinner.

The first night of the forum also featured a cocktail reception titled “A Toast to Tomorrow: Caixin’s Vision for Sustained Growth,” where Hu Shuli, Zhang Lihui, and Lu Weiming, CEO of Orient Securities Company Limited, delivered speeches. The event also featured the launch of Caixin ESG 30 Young Scholar Program, and the release of the report “Chinese Enterprises’ Development and ESG Practices in Southeast Asia: Singapore Chapter.”

On September 26, the forum will continue to address key issues in geopolitics, green energy, healthcare, art, and philanthropy across the Asia-Pacific and global landscapes. Topics will include “Quest for a Greener Asia: Renewable Energy Innovations,” “Driving Forward: The Race to EV in Asia,” “Investing in Asia,” “Growth and Sustainability: Asia’s Art Ecosystem,” “Biotech Boom in Asia: Policies and Practices,” “New Vision for Philanthropy: Harnessing Technology and Commerce for Social Impact,” “Local to Global: Embracing Responsibility,” and “US-China Relations: An Elephant in the Room.”

Key speakers will include Low Yen Ling, Senior Minister of State at Singapore’s Ministry of Trade and Industry and Ministry of Culture, Community and Youth; Rahayu Mahzam, Minister of State at Singapore’s Ministry of Digital Development and Information and Ministry of Health; Bambang Brodjonegoro, former Finance Minister of Indonesia; John Thornton, Chairman of Redbird Capital Partners, Chairman of Barrick Gold, and Co-chair of the Asia New Vision Forum; Edmund Terence Gomez, Honorary Professor and former Dean of the Faculty of Economics and Administration at the University of Malaya; Danny Quah, Li Ka Shing Professor in Economics and Dean at the Lee Kuan Yew School of Public Policy, NUS; and Zha Daojiong, Professor of International Political Economy in the School of International Studies and the Institute of South-South Cooperation and Development, Peking University.

In addition to the two-day conference, the forum will also feature a special site visit. Forty entrepreneurs will tour Singapore’s Surbana Jurong Campus in Singapore, gaining insights into Singapore’s government policies and incentives, as well as unique business ecosystem and corporate citizenship in Southeast Asia.

For more information about the Asia New Vision Forum, please visit Asia New Vision Forum 2024.

About Caixin Global
Caixin Global is one of the most respected global sources for macroeconomic, financial and business news and information about China. Built on Caixin Media’s award-winning journalism, Caixin Global delivers fast, reliable business and financial news about China to the world. It offers news in English via a 24/7 digital and mobile platform (caixinglobal.com) and publishes a print magazine Caixin: China Economics and Finance. For more information, please visit www.caixinglobal.com

About the Singapore Economic Development Board
The Singapore Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry, is responsible for strategies that enhance Singapore’s position as a global center for business, innovation and talent. We undertake investment promotion and industry development and work with international businesses, both foreign and local, by providing information, connection to partners, and access to government incentives for their investments. Our mission is to create sustainable economic growth, with vibrant business and good job opportunities for Singapore and Singaporeans. For more information on EDB, please visit www.edb.gov.sg

Or follow the official WeChat account “BusinessSingapore” for the latest information.

About the Singapore Tourism Board
The Singapore Tourism Board (STB) is the lead development agency for tourism, one of Singapore’s key economic sectors. Together with industry partners and the community, we shape a dynamic Singapore tourism landscape. We bring the Passion Made Possible brand to life by differentiating Singapore as a vibrant destination that inspires people to share and deepen their passions.
For more information: www.stb.gov.sg
More: www.stb.gov.sg or www.visitsingapore.com  
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