Global China Business Meeting7-8 November 2011,Valencia, Spain

a Horasis-leadership event

Report

Horasis is a global visions community committed to enact visions for a sustainable future(http:/www.horasis.org)

Upcoming Horasis Meetings:

Horasis Annual Meeting Zurich, Switzerland 24-25 January 2012

Global Russia Business Meeting Luxembourg, 22-23 April 2012

Global India Business Meeting Antwerp, Belgium, 24-25 June 2012

Global China Business Meeting Riga, Latvia, 25-26 November 2012

Global Arab Business Meeting Ras Al Khaimah, UAE, 9-10 December 2012

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Global China Business Meeting7-8 November 2011,Valencia, SpainValencia Conference Center, Avenida de las Cortes Valencianas,Valencia

a Horasis-leadership event

Co-host:City of Valencia (Ayuntamiento de Valencia)

China Federation of Industrial Economics

Global Asia

Turismo Valencia

Co-organizers:All India Management Association (AIMA)CiervalCommittee 2005Future China SocietySpanish Chamber of Commerce in ChinaYoung Presidents’ Organization (YPO)World Eminence Chinese Business Association

Co-chairs:Nasir Ali Shah Bukhari Chairman, KASB Group, Pakistan

Jeffrey Chen Chief Executive Officer, Neopac Lighting Group,Taiwan, China

Bertrand Collomb Honorary Chairman, Lafarge, France

Juris Gulbis Chief Executive Officer, Lattelecom, Latvia

Alan Hassenfeld Chairman, Hasbro, USA

Kola Karim Chief Executive Officer, Shoreline Energy International, Nigeria

Liang Xinjun Chief Executive Officer, Fosun Group, China

Liu Jiren Chairman and CEO, Neusoft Corporation, China

William L. Meaney Chief Executive Officer,The Zuellig Group, Hong Kong SAR

Martin Richenhagen Chief Executive Officer, AGCO, USA

Rong Jianying Secretary General, China Federation of Industrial Economics, China

John Tan CEO, Asia Capital Reinsurance Group, Singapore

Wayne W.Wang Chairman, CDP Group, China

Zhou Jianping Chairman, China Heilan Group, China

Levin Zhu CEO, China International Capital Corporation (CICC), China

Strategic Partners:Air France - KLMBaker & McKenzieCheung Kong Graduate School of Business

Media Partner:International Herald Tribune

The meeting opens its doors

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The 2011 Global China Business Meeting is ready to start

Palau de les Arts Reina Sofía, the venue of the opening dinnerThe meeting site –Valencia Conference Center

Table of Contents

Foreword 4

China Can Help Europe with Debt Crisis 18

Beijing Wary of Bankrolling a Lost Cause, as it Should Be 20

Honouring the Chinese Business Leaders of the Year 22

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Foreword

The 2011 Horasis Global China BusinessMeeting was one of the most keenly awaitedbusiness events on China of the year. InNovember 2011, for the 7th consecutiveyear, the Global China Business Meetingbrought 400 business and political leaderstogether from all around the world to discussChina’s place in the global economy. Also,participants engaged in many business-to-business meetings on the sidelines of theevent.The Global China Business Meetingconvenes annually and involves senior stake-holders from business, governments andsociety to discuss China’s economic role inthe world.The Meeting was organised byHorasis in partnership with the City ofValencia, China Federation of In-dustrial Economics, Global Asia andTurismo Valencia.This report shallprovide an overview of the prevailing issueson the minds of participants as discussedduring the meeting.

The 2011 Global China Business Meeting setout to highlight China’s economic futureagainst a background of profound globalchallenges.With economic prospects worse-ning in Europe and the US, China is increa-

singly seen as the main source of optimismin the global economy. China’s economy isdoing well but the global economy is stillcharacterized by striking imbalances. Giventhe intertwined nature of the global eco-nomic system, a new economic crisis couldeasily derail the fragile global recovery bydamaging economic growth within andbeyond Europe – and even hit the robustChinese economy. Signs that the economyof China is slowing might hurt marketsentiment among global investors.Thecurrent currency and fiscal problems ofEurope were one of the most intensivelydebated topics at the Global China BusinessMeeting – as many Chinese CEOs expressedtheir fears over the looming double-dipglobal recession and the potential negativeimpact on China.

We were honoured by the presence of theCEOs of some of the leading Chinese andforeign companies to take a forthright lookat these challenges, generating a wealth of interrogations, ideas, proposals, andsolutions.The gathering was joined by the following co-chairs with visionaryperspectives on China’s economic agenda:Nasir Ali Shah Bukhari, Chairman, KASBGroup, Pakistan; Jeffrey Chen, ChiefExecutive Officer, Neopac Lighting Group,Taiwan, China; Bertrand Collomb,Honorary Chairman, Lafarge, France;

Chairman Jiang Yiren, Member of the 11th CPPCC NationalCommittee – ‘we want to nurture a new global partnership’

Virtual Ribbon Cutting

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Juris Gulbis, Chief Executive Officer,Lattelecom, Latvia; Alan Hassenfeld,Chairman, Hasbro, USA; Kola Karim,Chief Executive Officer, Shoreline EnergyInternational, Nigeria; Liang Xinjun, ChiefExecutive Officer, Fosun Group, China;Liu Jiren, Chairman, Neusoft Corporation,China; William L. Meaney, Chief Exe-cutive Officer,The Zuellig Group, HongKong SAR; Martin Richenhagen, ChiefExecutive Officer, AGCO, USA; RongJianying, Secretary General, China Federa-tion of Industrial Economics, China; JohnTan, Chief Executive Officer, Asia CapitalReinsurance Group, Wayne W.Wang,Chairman, CDP Group, China; ZhouJianping, Chairman, China Heilan Group,China; Levin Zhu, Chief Executive Officer,China International Capital Corporation(CICC), China.

The Global China Business Meeting had theofficial support of the following sponsors andpartner organisations: AIMA, Cierval,Committee 2005, Future China Socie-ty, Spanish Chamber of Commerce inChina, Young Presidents’ Organization(YPO), World Eminence Chinese Busi-ness Association, Air France-KLM,Baker & McKenzie, Cheung KongGraduate School of Business and theInternational Herald Tribune.

What were the major results of the seventhGlobal China Business Meeting? ‘We wantedthe Summit to live up to its name’, RongJianying, Secretary General, China Federa-tion of Industrial Economics, China, said,and continued: ‘We definitely reached ouraim, this was the definite business meetingon China of the year.’What did participantslearn from each other, about each other

and – most importantly – in dialogue witheach other? ‘The Global China BusinessMeeting generated real achievements onthe steps needed to underpin economicsuccess and invest for the future’, statedTony Cowling, Chairman,TNS, UnitedKingdom. Participants reached consensusthat

• China has come out of the worldwideeconomic meltdown relatively unscathed,and is enjoying a high rate of economicgrowth. Still, both the Chinese authori-ties and their global partners shouldremain vigilant and continue pursuingnecessary improvements of businessconditions in order to sustain speed andscope of economic growth.

• China will take innovation as the maintheme and focus on transforming the‘Valencia will serve as important

base for Chinese firms to explore theEuropean market’Rita Barberá, Mayor of Valencia, Spain

Zhou Jianping, Chairman, China Heilan Group

Martin Richenhagen, Chief Executive Officer,AGCO, USA

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economic development pattern at afaster pace. Social stability and qualita-tive economic growth are key.

• Chinese firms have the appetite and thefinancing available to acquire Europeanand US assets. However, the barriers forChinese firms remain high, with a lackof experience of operating in Westernbusiness environments.

The Chinese authorities were representedby an architect of its highly successful eco-nomic development agenda: Jiang Yiren,Member of the Standing Committee of11th CPPCC National Committee, China.In his opening address, he declared that heis confident ‘that we are in a position tosustain high economic growth.We hope thatthe international community will worktogether to further advance the reform ofthe international financial system and movetoward the establishment of a fair, just,inclusive and well-managed internationalfinancial order’, he went on. Chairman Jiangconfirmed China’s continued support of theG20 as the world’s main instrument totackle the current global economic crisis,urging Spanish companies ‘to grasp theopportunities of a more prosperous, stableand outward looking China, and to graspthem today because they might be gonetomorrow.’ He particularly invited smalland medium-sized enterprises (SMEs) tocome to China: ‘European SMEs are verycompetitive, we should build more platformsto promote cooperation’, he said. China

shows every sign of being the new engineof global economic growth.‘I want Spain tohave seats on the plane when it takes off’, hetold participants during the opening dinner.

Rita Barberá, Mayor of Valencia, Spain,pointed out how Valencia is engaging withChina in general and with some of China’scities in particular. She highlighted on-goingprojects in the area of urban planning, lo-gistics and sustainable energy. ‘Valencia isdelighted to co-host this sevenths GlobalChina Business Meeting’, she told partici-pants. ‘Valencia will serve as important basefor Chinese firms to explore the Europeanmarket. Home to respected brands of globalreach,Valencia is one of Europe’s mostimportant clusters for expertise in modernurbanism – a natural fit with China’s globalaspirations.’ Her vision of the Spanish busi-ness community is a broad-based, strategicSino-Spanish/European partnership. Sheconcluded: ‘It is in the best interests ofChina and Europe to grow together, to growour businesses sustainably, to grow ourinnovative strength and to grow togetheras partners.’

In his special address, Miguel Sebastián,Minister of Industry,Trade and Tourism,Spain, reviewed Spain’s economic relationswith China. ‘Economic and commercial re-lations between China and Spain have been

Rita Barberá, Mayor of Valencia, Spain

Miguel Sebastián, Minister of Industry,Trade and Tourism, Spain,keynoting the meeting

Zhao Guoyi, Chairman,XiAn HuaTong New Energy Co.

Wang Dongxing, Chairman,LiLang, China

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growing steadily. Last few years have seensubstantial growth in the trade relationsbetween the two countries – Spain is oneof China’s emerging trading partner in theEuropean Union’, he said. ‘I see signs ofpotential economic growth next year asSpain will benefit from the continued eco-nomic stimulus generated by fast expandingeconomies like China’, he added. He alsopromised that ‘we will work in Spain toimprove the working relationship with Chinaeven further. In order to find satisfactorysolutions for all problems, the bilateral andmultilateral negotiations will continue.Wehave to find new avenues to strengthen ourworking relationship, we need to worktogether.’

‘Many Chinese companies don’t know howEurope works and this meeting is a chanceto know how we work here as well as goingdeeper into the interests of Asian companiesfrom different sectors who are able to get toknow Spanish trademarks in order to estab-lish their own here’, said Alberto Fabra,President, Regional Government of Valen-cia, Spain.The event will ‘place Valencia asan important point linking Africa, Europaand Latin America’, he continued.

Participants had a rare opportunity to ex-plore China’s development from a varietyof points of view. An intensive programmeof boardroom dialogue discussions andplenary sessions were devoted to a varietyof carefully identified themes, includingChina’s influence on the establishment of theglobal post-crisis economic order, China’srelationship with both the EU and North

America, and China’s role in global trade.Also on the agenda were sessions on spe-cially selected industrial sectors, includingfinancial services, energy, as well as moreconceptual themes, including the relation-ship between government and business, andthe role of media in society, etc. ‘China,anxious about its investments in euro-denominated bonds and weakening demandfor its exports, has repeatedly expressedconfidence in the eurozone and has vowedto buy European sovereign debt to shore uptheir flagging economies’, commented GuySpier, Chief Executive Officer, AquamarineCapital, Switzerland. Shi Yanqiu, SecretaryGeneral, China Container Industry Asso-ciation, China, feared that the biggest risksto the Chinese economy were a global re-cession leading to a steep fall in demandfor exports, or a collapse in China’s realestate market.

At a packed opening plenary, panellistsagreed that China’s growth is sustainableand is serving as locomotive for the world’seconomic growth overall. ‘The economy’sgrowth rate over the medium term will bedetermined in large part by how fast Chinesehouseholds increase their spending, nowthat consumers overseas can no longer berelied upon to buy China-made goods’,said Levin Zhu, Chief Executive Officer,

‘Last few years have seen substantialgrowth in the trade relations betweenthe two countries – Spain is one ofChina’s emerging trading partner inthe European Union’Miguel Sebastián, Minister of Industry,Trade and Tourism, Spain

Liu Jiren, Chairman and Chief Executive Officer,Neusoft Corporation, on Chinas role in stimulating global post-crisis economic growth

Zhu Bangzhao,Ambassador of China to Spain

Shi Yanqiu, Secretary General,China Container IndustryAssociation, China

Alberto Fabra, President,Regional Government of Valencia

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China International Capital Corporation(CICC), China. ‘But it matters too forChina’s relationship with the rest of theworld, particularly the United States’, addedZhou Jianping, Chairman, China HeilanGroup, China. ‘Inflation has the potentialto become a serious economic problem inChina. Not only does it raise living costsfor ordinary people, it can also leave themearning negative returns on the very highlevel of savings in deposit accounts’, notedKola Karim, Chief Executive Officer,Shoreline Energy International, Nigeria.‘Inflation might not be the major threat forChina that many think. In fact though, foodprice inflation has probably already peaked’,believed Juris Gulbis, Chief ExecutiveOfficer, Lattelecom, Latvia.

The European Union is China’s biggest tra-ding partner, and China is the EU’s second-biggest export market. ‘If China wants itseconomy to keep flourishing, China can’tafford the collapse of the euro any more thanthe nations that use it. It’s in our interest tokeep supporting the euro and euro assets’,said Wu Yijian, President, Ginwa Enterprise

Group, China. But ‘European policymakersmust act quickly to overhaul the presentsystem of uncoordinated policies betweensurplus countries and debt-laden ones’, saidXie Chao, Chief Executive Officer,YongjinGroup, China. ‘The Chinese government haspledged to buy more of Spain’s nationaldebt in an effort to stabilize the country’sfinances’, added Wang Dongxing, Chair-man, LiLang, China. Jiao Xuding, Chair-man, SCP Oilfield Services, China, opinedthat ‘we Chinese business leaders haveconfidence in the Spanish market. Chinawill be a long-term investor here.’

On currencies, participants engaged in acandid and open discussion. Concern re-mained that China hasn’t done enough torebalance its economy and help reduceglobal trade and currency imbalances. ‘Ibelieve it is in China’s interest to allow thecurrency to appreciate more rapidly inresponse to market forces’, said JohnManners-Bell, Chief Executive Officer,Transport Intelligence, United Kingdom.Vincent Zheng, Managing Partner, CapitalFirst Partners, China, responded to JohnManners-Bell by saying that ‘China is movingto a more flexible system and graduallyappreciating the currency. Still, revaluingthe RMB will not solve the trade deficit withEurope and the U.S.’ ‘On the long run, theRBM will be an international currency, butthis a fairly long process’, Lord Davidson,

‘Inflation has the potential to becomea serious economic problem in China.Not only does it raise living costs forordinary people, it can also leave themearning negative returns on the veryhigh level of savings in deposit accounts’Kola Karim, Chief Executive Officer,Shoreline Energy International, Nigeria

Juris Gulbis, Chief ExecutiveOfficer, Lattelecom, Latvia

Vincent Zheng, Managing Partner,Capital First Partners, China,asking a question

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Levin Zhu, CEO, China International Capital Corporation (CICC) appears on a monitorbehind the panelists

Kola Karim, Chief Executive Officer, Shoreline EnergyInternational, Nigeria

Member, House of Lords, United Kingdomnoted. Meng Xianzhong, SecretaryGeneral, China Association for ExhibitionCenters, China, said that ‘although thereare challenges and friction, China’s riseoffers the EU the opportunity of dramaticgrowth in demand for European productsand services. Despite European concernsover currency issues, China’s growingeconomy creates enormous opportunitiesfor Europe and other global tradingpartners.’ Ho Punyu, Managing Partner,Wabash Investment, USA, maintained that‘we will not see China playing hardpower. China will judge the world fromits own position.’

Rafael Aznar, President, Port Authorityof Valencia, Spain, remarked that ‘in China,fast economic growth in recent decades hasled to rapid urbanisation, which has provo-ked that questions of migration, environ-mental protection, public health and socialwell-being have moved up the agenda.‘Demographics are of concern. Migrationand ageing are two interconnected issues’,argued Katarzyna Nawrot, Assistant Pro-

fessor, Poznan University of Economics,Poland. ‘China is facing interesting times’,concluded Harald Einsmann, Memberof the Board of Directors,Tesco, UnitedKingdom.

The Global China Business Meeting also puta spotlight on China’s dynamic private sec-tor and the talent within, as well as the newchallenges and opportunities for foreigncompanies operating in China. Despite thecontinuous growth of foreign investment inChina, some foreign companies have com-plained about China’s investment climate.Zhou Yongwei, Chairman, Fujian Sept-wolves Group, China, stressed that ‘foreigncompanies’ innovation, production andbusiness operations in China generally enjoythe same treatment as Chinese enterprises.We will continue to improve laws andregulations concerning foreign investment,strengthen IPR protection, and facilitate thegrowth of enterprises of all kinds in China byoffering them a stable and transparent legaland policy environment.’ Jerry Zhang,Chief Executive Officer, Neocomm Broad-band, China, highlighted the positive rolegovernments should play in boosting investorconfidence and removing impediments tocross-border investment. Jason Ma, Co-Founder and Former CEO, IvyMax, USA,underlined that ‘any return to protectionistmeasures would be damaging to both theChinese and global economies’.

‘On the long run, the RBM will be aninternational currency, but this a fairlylong process’Lord Davidson, Member, House of Lords,United Kingdom

Rafael Aznar, President,Port Authority of Valencia, Spain

Meng Xianzhong, SecretaryGeneral, China Association for Exhibition Centers

Jerry Zhang, Chief ExecutiveOfficer, Neocomm Broadband,China

Jason Ma, Co-Founder, IvyMax, USA Katarzyna Nawrot, Professor, Poznan University of Economics,Poland and Jennifer Angenend, Director,WaterFilled Barrier Systems

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Over the past thirty years, economic reformshave given rise to what Jackie Wang, Foun-der and President, Future China Society,China, called ‘hidden Chinese champions’in the domestic market, yet China has yetto produce many truly global companies.‘So how can Chinese companies shift fromcompeting on price to competing on techno-logy and high-value products and services?’asked Myles Lu, Chief Executive Officer,Roxbeam, China.‘And how can the Chinesegovernment help nurture the developmentof global innovators?’ wondered IvanTselichtchev, Professor, Niigata Universityof Management, Japan.

Participants tried to find answers to theselooming questions by highlighting the cru-cial role played by innovation and creativityfor laying the foundations for sustainablegrowth. ‘Chinese business leaders need tostudy global best practices and look be-yond what works at home’, said MartinRichenhagen, Chief Executive Officer,AGCO, USA. ‘Availability of technologicalsolutions and breakthrough innovation willbe essential to ensure sustainable develop-ment globally. In this regard, human capitalformation and the encouragement of capabi-lities in science, technology and innovation

will play a key role as potential engines forfuture growth’, argued Liu Jiren, Chairman,Neusoft Corporation, China. ‘Promotingan exchange of talents between Spain andChina would be beneficial and universitycooperation is important in this respect’,stated Eugenio Bregolat, Ambassador ofSpain to China. Chinese business leaderstoday are increasingly looking beyondChinese borders, adopting the internationalperspective necessary to succeed in globalbusiness. Instead of focusing merely on thedomestic market, many have begun toleverage resources at a global level. ‘We havestarted to integrate global markets, humanresources, capital, brands, technology, andraw materials into our existing operations’,concluded Xue Fangcai, Chairman, RootEnergy Group, China.

Chinese outbound acquisitions have steadilygained momentum in the last years. Wu Di,Lecturer in Economics, Beijing Royal School,China, mentioned in one of the boardroomdialogue sessions that ‘the global financialcrisis of 2008 proved a major turning point,as Chinese companies were suddenly pre-sented with a wealth of opportunities tobuy into or outright acquire beleagueredEuropean and US firms.’ ‘In 2010, Chinese

‘China is facing interesting times’Harald Einsmann, Member of the Board of Directors,Tesco, United Kingdom

‘Any return to protectionist measureswould be damaging to both the Chineseand global economies’Jason Ma, Co-Founder and Former CEO, IvyMax, USA

Xu Liankuan, President,Zonda Auto Group, China

Eugenio Bregolat,Ambassador of Spain to China

Wu Di, Lecturer in Economics, Beijing Royal School, China

Jackie Wang, Founder and President, Future China Society

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foreign direct investment amounted to nearlyUSD 100 billion. Examples of Chinese off-shore deals were Geely’s purchase of Volvoand CQLT’ acquisition of Saargummi, tomention cases in the automotive industry’,illustrated Johan Nylen, Partner, Baker &McKenzie, Sweden.With the on-goingeconomic woes of Europe and US, ‘a widerange of Chinese firms – from state-ownedenterprises to private companies – areplanning to invest overseas’, speculatedZhang Xiaodong, Chairman,WinhopesInvestment, China. According to XuLiankuan, President, Zonda Auto Group,China, the globalization of Chinese enter-prises will likely be greatly accelerated.‘China will contribute to the global capitalmarket, including capital supply and theimpact on other countries created by itsforeign direct investment (FDI)’, he said.

Overseas acquisitions represent only onemeans of growth, and M&A is inherentlyrisky. ‘Corporate acquisitions have a highrate of failure in any country, as the acqui-rer often has trouble merging disparatecorporate cultures’, commented BenCotton, Partner, Earth Capital Partners,United Kingdom. ‘TCL’s purchase ofAlcatel’s mobile phone operations andThompson’s TV assets is such an example.The acquisitions itself were fairly straight-forward, but the integration of the acquiredfirm’s human resources, technology, and

brands proved complex and time-consuming’,explained Kerry Brown, Head of theAsia Programme, Chatham House, UnitedKingdom.

One of the meeting co-chairs, William L.Meaney, Chief Executive Officer,TheZuellig Group, Hong Kong SAR, believedthat Chinese companies have completed onlyone phase of the transformation necessaryto thrive on a global playing field. ‘Chinesebusiness leaders need to re-orient from atraditional domestic strategy’, he said.‘Chinese executives should shift to a moreinternationally-focused approach along thelines of some of the most successful Multi-nationals, like Nestlé or Novartis. Swisscompanies are good role models for Chinesefirms – only five CEOs of the top 20 Swissfirms currently are Swiss. Swiss firms arevery cosmopolitan’, said Claude Beglé,Director General, Symbioswiss, Switzerland.

Zhou Li, Assistant Dean, Cheung KongGraduate School of Business, China stressedthat globalization will be China’s immediatemove, adding that as China has also transfor-med from being a centre of manufacturingto a centre of consumption, it is expected to

‘Chinese business leaders need to re-orient from a traditional domesticstrategy’William L. Meaney, Chief Executive Officer,The Zuellig Group, Hong Kong SAR

Harald Einsmann, Member of the Board of Directors,Tesco

Zhang Xiaodong, Chairman,Winhopes Investment, China

Hong Nguyen, Managing Director, GC Millenium Group, Hong Kong

William L. Meaney, Chief Executive Officer,The Zuellig Group, Hong Kong – one of the meeting co-chairs

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become the second-largest country in termsof consumption by 2025. Hong Nguyen,Managing Director, GC Millenium Group,Hong Kong SAR, stated that China is ‘verymuch a part of the world’, so ‘Chinese firmshave to consider how to go global’.

Participants agreed that – relative to theirglobal counterparts – most Chinese com-panies have only just begun the process ofglobal integration. Since their managementteams still lack experience leading inter-national teams, it will take some time forthem to catch up. ‘I believe that Chineseexecutives need to adopt a more globalapproach in their thinking and strategies’,said Wayne W.Wang, Chairman, CDPGroup, China. Chinese companies mustlearn to leverage global resources in orderto succeed in the years to come. ‘Learninghow to leverage global resources will notonly help Chinese companies expandabroad but will also boost their standing inthe domestic market, where they competewith multinational companies’, added JayMcGonigle, Executive Chairman (ret.),The Corporate Executive Board, USA.

Financial services in China have reached aglobal level-playing field. ‘What projectionscan be made about the evolution of China’sfinancial market?’ Philip Bowring,Columnist, International Herald Tribune,Hong Kong SAR, threw into question.‘MostChinese banks have reported strong earningsin 2010 that often beat expectations.TheChinese banking sector is thriving’, saidWang Jinping, President, Bank of Dalian,China. ‘This may be a result of them puttingless cash into the cash register to prepare forloans that may go sour’, argued CynthiaMuller, Managing Director, MorganStanley, United Kingdom. Liu Zhihui,President, Industrial Securities, China,juxtaposed that China is not in danger offollowing the United States into a toxicfinancial-economic interaction. ‘Our finan-cial system is in good shape’, he said. ‘Co-ordination of global finance means that eachcountry has to play its role’, Lulu Zhou,President, Friendship Across Frontier,China, explained,‘and China’s role is to helpreform the International Monetary Fundand other international institutions’.

‘Less obvious to China, perhaps, is thegrowing impact of Chinese philosophyon the global village’Lou Marinoff, Professor of Philosophy,The City College of New York, USA

‘Globalization will be China’simmediate move’Zhou Li,Assistant Dean,Cheung Kong Graduate School of Business, China

Tony Cowling, Chairman,TNS, United Kingdom

Philip Bowring, Columnist,International Herald Tribune

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Envisioning China’s Green Growth

China is poised to become the leadingsuperpower of the 21st century. ‘Lessobvious to China, perhaps, is the growingimpact of Chinese philosophy on the globalvillage’, stated Lou Marinoff, Professorof Philosophy,The City College of NewYork, USA, during a night-cap session.Chinese firms do not want paternalism fromthe West. Instead, Marinoff continued, theywant acknowledgement that ‘they can offersomething, that they can actually become adriver in the field of ethics.’ Because theChinese are emerging as an economicpowerhouse, any ethical rules they integrateinto their businesses practices will have animpact on the whole world. Stan Fung,Managing Director, FarSight Ventures, USA,offered a contrasting view. He called onChinese business leaders to examine howthey might incorporate global values intotheir thinking to create a more enlightenedChinese business culture.‘I believe this is animportant step for the continued healthydevelopment of Chinese companies’, agreedZhang Bingxin, Chairman, Kubao Infor-mation Technology, China. ‘To create a sus-tainable business, entrepreneurs must thinkabout more than the pursuit of profits’, LuWenchun, Board Chairman & President,Shanghai Chengxin Group, China, concluded.

Some discussants underlined that leadingeconomies like China, the EU and the U.S.should join forces in order to move the Doha

Round towards a successful conclusion.Zhang Xuanning, President,YonghuiSuperstores, China, held that ‘the bench-mark for a successful Doha round shouldbe commercially meaningful new marketaccess for all WTO members.’ Businessleaders also took note of China’s recentproposal on joining the WTO GovernmentProcurement Agreement. ‘I hope that amutual acceptable agreement on China’saccession can be reached soon’, saidBertrand Collomb, Honorary Chairman,Lafarge, France.

Driven by increasing trade opportunitiesand political alliances, China is movingfrom the sidelines to the centre stage inother emerging markets like Africa orLatin America – regions the West has longconsidered to be its own trading partners.Two panels examined China’s engagementwith other high-growth economies: ‘Chinaand Latin America’ and ‘Harnessing the NewSilk Road’.‘Africa is the corner of the worldwhere that declining Western influence ismost evident’, Daniel Duku, Chief Exe-

‘Chinese business leaders need to studyglobal best practices and look beyondwhat works at home’Martin Richenhagen, Chief Executive Officer,AGCO, USA

Bertrand Collomb, Honorary Chairman, Lafarge, France,on the next wave of growth

Stefano Benedikter, Founding Partner,ALTVEST Africa, United Kingdom

Wang Jinping, President, Bank ofDalian, China

Liu Zhihui, President,Industrial Securities Co., China

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Daniel Duku, CEO,Venture Capital Trust Fund, Ghana,with Irene Asaah Anti

cutive Officer,Venture Capital Trust Fund,Ghana, said. Stefano Benedikter, Foun-ding Partner and Fund Manager, ALTVESTAfrica, United Kingdom, argued that ‘tothe eyes of many African leaders China’scapacity to move fast, coupled with its policyof non-interference in other countries’internal affairs, often makes Beijing a moreattractive partner than the West.’ ‘China’semergence as a major buyer of Latin Ameri-can commodities has been a blessing for theregion’, stated Luis Gómez, Chairmanand Founding Partner, SinoLatin Capital,China. ‘Most Latin American businessleaders hold a favourable view of China,according to Alberto Catalá, President,Exhibition Centre of Valencia, Spain.

On China’s economic relations with theSubcontinent, Nasir Ali Shah Bukhari,

Chairman, KASB Group, Pakistan, explainedthat ‘China and Pakistan face the commontask of advancing reform and promotingthe comprehensive, balanced and sustain-able development of each country.’ ‘We wantto see a strong Subcontinent, one that livesout its full potential and serves as a corner-stone for regional and global economicgrowth, stressed Shang Fushan,ViceChairman, China Nonferrous Metals In-dustry Association, China. Rekha Sethi,Secretary General, All India ManagementAssociation (AIMA), India, reasoned that‘China and India are good neighbours andas two of the world’s largest developingcountries they face many common opportu-nities and challenges.’ ‘China – the world’semerging powerhouse – maintains excellenteconomic and political relations with theSubcontinent’, commented Anson Chan,Chairman, Bonds Group of Companies,Hong Kong SAR.

In 2010, China’s economic output accoun-ted for only about 10 percent of global GDP.‘I would argue that the resistance we have

‘China and Pakistan face the commontask of advancing reform and promotingthe comprehensive, balanced andsustainable development of each country’Nasir Ali Shah Bukhari, Chairman,KASB Group, Pakistan

Nasir Ali Shah Bukhari, Chairman, KASB Group, Pakistan Anson Chan, Chairman, BondsGroup of Companies, Hong Kong

Jean-Christophe Iseux von Pfetten, President, Oxford Institute ofEast-West Strategic Studies, summarizing the results of the meeting

Continuing discussions during a coffee break Luis Gómez, Chairman and Founding Partner,SinoLatin Capital, China

Enrique Verdeguer, Minister of Economics, Industry and Commerce,Regional Government of Valencia

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already begun to see directed at Chinesecompanies are disproportionate to thenation’s actual global economic influence’,said Enrique Verdeguer, Minister ofEconomics, Industry and Commerce,Regional Government of Valencia, Spain.Yet many in the world perceive China’srise as a threat. Chinese companies shouldact to check a rising tide of resentment thatrisks undermining their growth prospectsoverseas. ‘Some Western opinion leadersentertain visions of a Cold War-stylerivalry. I say: Don’t Fear China. Let’s worktogether as partners’, proposed CharlesMoore, Executive Director, CommitteeEncouraging Corporate Philanthropy, USA.While insisting that economic competitionwith China will help Europe and the U.S.flourish, Edgar Bullecer, Chief Opera-ting Officer, Paglas Group of Companies,Philippines, stressed the importance ofcooperation and mutual trust.

The Seventh Global China Business Meetingconvened as the global economy appearedto be recovering from one of the greatesteconomic challenges of our time. ‘Europeand the US have the ability and wisdom toovercome their current difficulties and comeout of the crisis’, said John Tan, ChiefExecutive Officer, Asia Capital ReinsuranceGroup, Singapore. Jean-ChristopheIseux von Pfetten, President, OxfordInstitute of East-West Strategic Studies,

United Kingdom added: ‘China’s sovereignwealth fund has come under scrutiny –investing in Europe might be too risky anduncertain. And China has to first solve itsown economic problems, namely thedivide between the rich cities and the poorcountryside.’

At the close of the meeting, a panel ofbusiness leaders called for a new type ofcapitalism … ‘which combines state andprivate-sector interests’, as Richard JianLi, Executive Director, Golden ConcordHoldings, Hong Kong SAR, put it. A keytake-away from the Global China BusinessMeeting was that to deliver sustainableprosperity, capitalism must be – accordingto Alan Hassenfeld, Chairman, Hasbro,USA – ‘attentive to the social, environmen-tal, political, and financial systems withwhich it is intertwined’.

We at Horasis are very pleased with theresults of the 2011 Global China BusinessMeeting and the feedback we have received

‘The exchange of ideas and perspectivesmade possible by the interaction ofhigh-level participants from both thepublic and private sector is itself avaluable contribution to this process’Liang Xinjun, Chief Executive Officer,Fosun Group, China

Alan Hassenfeld, Chairman, Hasbro, USA – how to deal with the World’s Dyslexia

John Tan, Chief Executive Officer,Asia Capital Reinsurance Group, Singapore

Edgar Bullecer,Chief Operating Officer, PaglasGroup of Companies, Philippines

Richard Jian Li, ExecutiveDirector, Golden ConcordHoldings, Hong Kong

Charles Moore, Executive Director,Committee Encouraging CorporatePhilanthropy, USA

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from participants in the event.The meetingaimed to shape China’s economic agendain pursuit of a prosperous future. ‘Theexchange of ideas and perspectives madepossible by the interaction of high-levelparticipants from both the public and privatesector is itself a valuable contribution tothis process’, stated Liang Xinjun, ChiefExecutive Officer, Fosun Group, China.And, according to Ramón Congost,Chief Executive Officer, Aidico, Spain: ‘I

could sense enormous interest on both theChinese and the Spanish side, with localcompanies embracing the idea of a GlobalChina Business Meeting held in Spain andready to offer their support.There is agreat deal of attention towards Chinesebusiness in Spain, and the meeting offeredlocal companies an opportunity to meetkey Chinese business leaders all gatheredtogether in one place, and to develop anunderstanding for the overall economicclimate in China.’ Kimball J. Andrews,Executive Chairman, Asia Star Capital,Australia added: ‘In a time when it is moreimportant than ever to continuously seekopportunities to beat the global markettrends, China is proving to be a haven forinvestors who are keen to explore newmarkets.’ While the general sense is thatmacroeconomic policies do not needmajor adjustments, Albert Teo, Director,Universal Chinese Sports Committee, China,reaffirmed that China will continue to be astrong source of demand given the weak-ness of the US and euro-zone economies.

‘Human capital formation and the en-couragement of capabilities in science,technology and innovation will play akey role as potential engines for futuregrowth’Liu Jiren, Chairman, Neusoft Corporation, China

Community building

Albert Teo, Director, Universal Chinese Sports Committee, China Chinese CEOs blending with leaders from Spain and the world

Iván Máñez, Publisher,Global Asia Magazine, Spain

Kimball J.Andrews,Executive Chairman,Asia Star Capital,Australia

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On behalf of Horasis, I would like topersonally thank the City of Valencia,the China Federation of IndustrialEconomics, Global Asia and TurismoValencia, as well as the co-chairs, ourinstitutional partners and our supportersfrom the private sector for having hadcommitment to partner with us to makethe seventh Global China Business Meetingsuch a great success. Our meeting is not onlya platform for reflection and debate – itserves as evidence that through collaborationand concrete action we can spur andchannel growth, in China and beyond.Horasis has established with the GlobalChina Business Meeting a global learningplatform for Chinese firms that allowsentrepreneurs to interact and exchangeexperiences with leading entrepreneursand business champions from around theworld. I believe these platforms will en-able the creation of a new group of globalchampions of Chinese origin which willproduce innovations to benefit the world.

Plans are already underway for the 2012Global China Business Meeting, and fortaking the meeting to another destinationin the world. Horasis looks forward towelcoming you again next year to an evenmore fruitful edition of the Global ChinaBusiness Meeting.

Dr. Frank-Jürgen RichterChairmanHorasis:The Global Visions Community

The closing plenary

Session on China and Latin America Chairman Jiang Yiren with Frank-Jürgen Richter

Zhu Zongzhi, First ViceChairman,Anhui Federation ofIndustrial Economics, China

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By Frank-Jürgen Richter China Daily, October 27, 2011

China is becoming increasingly involvedwith global governance. As the sovereigndebt crisis in Europe continues, PremierWen Jiabao said last month that China willbe a friend to Europe.The question is: howwill China help alleviate the sovereign debtcrisis?

Zhang Xiaoqiang, vice minister of theNational Development and ReformCommission said: “For those countriesexperiencing a sovereign debt crisis, we arewilling to lend a helping hand to buy someof their bonds.”

Buying European bonds is possible sinceChina, the world’s second largest economy,has more than $3 trillion in foreign curren-cy reserves.

But the West oscillates between twoextreme positions regarding China.

The first is protectionism where acquisitionsby Chinese companies are being blocked.Many in the United States oppose suchacquisitions claiming they are a serious riskto national security and a number ofChinese investment proposals have alsobeen blocked in Europe.

The EU’s industry commissioner, AntonioTajani, recently said that some Europeancountries are worried that Chinese compa-nies are looking to buy European businessesto strip them of their technology. Accordingto Song Zhe, China’s ambassador to theEuropean Union, background checks havebeen conducted on Chinese companies,which have left many Chinese business-people with the impression that theEuropean investment environment isdeteriorating, causing them to postpone oreven cancel their plans to invest there.

Chinese companies have been favoringEurope over the United States as theCommittee on Foreign Investment in theUnited States (CFIUS), frequently stopsChinese firms from buying US companieson the pretext of national security.

Recently, Alibaba Chief Executive, Jack Ma,reiterated that the Chinese e-commercecompany is interested in purchasing Yahoo,

‘We hope that the international commu-nity will work together to further advancethe reform of the international financialsystem and move toward the establishmentof a fair, just, inclusive and well-managedinternational financial order’Jiang Yiren, Member of the Standing Committee of 11th CPPCC National Committee, China

China Can Help Europe with Debt Crisis

The meeting provided for a convivial atmosphere of friendly and constructive community building

Ludmila Ivanilova,Deputy Director,Parliamentary Centre, Russia

Chinese and Spanish Authorities gather for a group photo

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Li Fan, Senior Operations Associate,Inter-American Development Bank,USA – on the potential of thegrowing trade between China and Latin America

Inc. But according to analysts, any potentialdeal is likely to be blocked by CFIUS on thegrounds it could harm national security. Aswas the case in 2005, when China NationalOffshore Oil Company Ltd withdrew itsoffer to buy UNOCAL, the ninth largestoil company in the US, following what itdescribed as “the unprecedented politicalopposition that followed the announcementof our proposed transaction”.

The second position is using China as alender to bail out the West. It is evidentthat China has an interest in a healthy Euro-pean economy, especially since Europe hasexpertise in sectors such as aerospace,automotive, technology and luxurybrands.

However, both positions do not reflectChina’s true standing in the world.WhenChinese firms take over foreign assets,they usually do not remove the existingmanagement and workforce. Instead, theyintegrate the acquired firm in their existingoperations. For instance, when Geely, oneof China’s largest car companies, acquiredVolvo. Geely preserved Volvo’s identity andsucceeded in doing what Ford, the formerowner, failed to do.

As the sovereign debt crisis continues,Europe should accept help from China.As Premier Wen Jiabao said, Europe needsto put its own houses in order to stop thecrisis from spreading and affecting othercountries.The West should look at China

from a strategic point of view and recognizeChina’s market economy status, which iswhat China has been anticipating since itbegan its economic reforms in 1978.

However, according to EU leaders, Chinahas not yet met the necessary conditions,since most of China’s largest companies areState-owned and their leaders appointedby the government. But the borderlinebetween private and State-owned isblurring and most State-owned firms arebeing transformed into agile players,partly powered by foreign capital.

And even though State-owned companiesare still very powerful, private firms arethe driving force behind China’s growth.

Based on the World Trade Organizationrules, China will eventually get marketeconomy status by 2016. Achieving thiswill help China avoid anti-dumpingmeasures and boost bilateral trade, andwill benefit both sides.

The author is founder and chairman of Horasis,an independent international organizationcommitted to enacting visions for a sustainablefuture.

Kobus van der Wath, Founder & Group Managing Director,The Beijing Axis, asking a question during a boardroom panel

Preparing for the next panelGour Saraff, Director, Europe IndiaChamber of Commerce

Rong Jianying, Secretary General,China Federation of IndustrialEconomics

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Roddy Gow, Chief Executive,Asia House, United Kingdom

Myles Lu, Chief Executive Officer,Roxbeam, China

By Frank-Jürgen RichterSouth China Morning Post, September 22, 2011

The mix of cultures within the 27-memberEuropean Union and the enforcing ofmonetary union with all its ramificationshave caused the present-day crisis. Clearleadership is lacking, as is any determina-tion to stand up to protesters – be theyworkers’ unions or the general population.And all governments’ finance ministers areinvolved in the changes affecting the euroon a minute-by-minute basis.

It is also a global problem, and China isinvolved as it has a very large sovereignwealth fund able to buy out debt practicallyanywhere in the world.

However, Premier Wen Jiabao said last weekthat China was not to be looked on as a“last hope” financier for failed economies –thus, Europe must put its house in orderbefore calling on bailouts from China.

Europe’s financial crisis is a convolutedmess. It is partly predicated on the US2007 banking collapse because Europe’sbanks were also involved in cross-lendinginto the US.The lack of confidence in theUS spread to Europe so its banks hesitatedto lend to each other and, in turn, did notlend to individuals. In many ways, growth

has been strangled. And it is growth thatcreates wealth.

Meanwhile, some in Europe are grasping theglobal production interlinks: the shippingcompany Maersk Line has just announcedthat it will ensure daily shuttle shippingfrom Europe to Asia and back. Even thoughChina’s internal market is growing rapidly,it still exports a lot, with most of it goingto Europe.This will help China press for EUacceptance of its market economy status,though it knows this may not occur until2016 under World Trade Organisation rules.

Commerce Minister Chen Deming hasstressed that China is already a marketeconomy. Others point to China’s upsurgeof built-in intellectual products in many ofits goods, some of which are global leaders;yet, still others say that China’s intellectualproperty law is too lax.These argumentsare never clear-cut.

‘The economy’s growth rate over themedium term will be determined inlarge part by how fast Chinese house-holds increase their spending, now thatconsumers overseas can no longer berelied upon to buy China-made goods’Levin Zhu, Chief Executive Officer, ChinaInternational Capital Corporation (CICC), China

Beijing Wary of Bankrolling a Lost Cause, as it Should Be

Ho Punyu, Managing Partner,Wabash Investment, USA

Diana Chou, Managing Director,Sino Private Aviation, Hong Kong

Liang Xinjun, Chief Executive Officer, Fosun Group, in discussionwith participants

The Global China Business draws a full house

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It is clear that China did recover rapidlyafter the 2009 shock when both its internaland external market collapsed. Externalbuyers simply reduced their stock levelsacross all sectors so, in turn, China had toslow its own production – yet it was ableto ramp up rapidly when global demandrose again. Last year, the country’s share ofglobal manufactured exports reached 13.7per cent, up from 12.1per cent in 2009: atrend likely to persist in the comingdecade.

Eventually, China will reach a point wheremounting labour costs trigger decliningshares in low-end exports, offsetting gainsin the mid and high-end value segments.But we’re not there yet. Its goods are morehi-tech than before, but it is still predomi-nantly a labour intensive, low-end exportpower, excelling in production of commo-dities such as clothing, textiles, footwearand toys.

It is persisting in developing its own infra-structure of roads, railways, waterwaysand the airways – most geared towards theincreased flow of goods based on inflowsof raw materials and fuels for its manufac-turing plants.The future of exports from

China will be led by equipment manufac-turers and, although these may not yet bepenetrating Western markets, competitionin third markets is intensifying.The greatestshock that might face European and USmanufacturers is the full-scale export ofChinese manufacturing capability similarto that of the Japanese entering the US andEurope.

China wishes to improve its global imageof being a benign power in many sectors,but it will not be perceived as mature if itdoles out money to spent causes. It boughtinto the US debt, perhaps fuelling too muchcredit and inflaming US purchase of cheapgoods from China. It will have learned thathard lesson, and now Europe has to behavebetter than the old US in order to be credit-worthy in China’s eyes.That seems fair.

Dr Frank-Jürgen Richter is the founder and chairman of Horasis, an independentinternational organisation committed toenacting visions for a sustainable future.

‘The biggest risks to the Chineseeconomy are a global recession leadingto a steep fall in demand for exports’Shi Yanqiu, Secretary General,China Container Industry Association, China

‘European policymakers must actquickly to overhaul the present systemof uncoordinated policies betweensurplus countries and debt-laden ones’Xie Chao, Chief Executive Officer,Yongjin Group, China

Arrival of participants Forging new partnershipsManuel Llorente, President,Valencia Club de Fútbol, Spain

Stacy Kenworthy, Chief ExecutiveOfficer, OptiGlobal, USA

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Stan Fung, Managing Director,FarSight Ventures, USA

By Nikolaus Reinhuber, Partner, Baker &McKenzie, Germany

In the recent years, the global economy hasbeen recovering from one of the mostsevere crises in recent history, a crisis manybelieve is not over, yet. Europe’s financialsystem is in turmoil. China, however, hasbeen at the forefront of the recent economicrebound.

China’s resilience, even in these difficulttimes, is in large part due to the tremen-dous entrepreneurial spirit of the businessleaders driving its economic growth anddevelopment.

A jury, led by Baker & McKenzie andHorasis, took the opportunity at thisseventh Global China Business Meeting torecognize and honor three business leaderswho exemplify this spirit.

Mr. Liang Xinjun is Chief ExecutiveOfficer of Fosun Group. Established in1992, Fosun is now one of China’s largestprivately-owned conglomerates withinterests in pharmaceuticals, property,steel, mining, retail, services and strategicinvestments in different other sectors.Among China’s top 400 private enterprises,Fosun ranked 2nd in profit in 2010.Mr. Liang graduated from Fudan Universityin Shanhai and obtained a master’s degreefrom Cheung Kong Graduate School ofBusiness in Hong Kong. He is Vice Chair-man of the China Young EntrepreneursAssociation, a member of the 11th ShanghaiCommittee of the Chinese People’sPolitical Consultative Conference andExecutive Chairman of the Shanghai FudanUniversity Alumni Association.

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Honouring the Chinese BusinessLeaders of the Year 2011

The Chinese Business Leaders of the Year pose for a group photo

Dr. Liu Jiren is founder and Chairman ofNeusoft Corporation, the largest IT solu-tions and services provider in China.Founded in 1991, the company has nowgrown to more than 20,000 employees withmore than USD 780M operating revenue.While most other companies world-widewere deeply affected by the recession in2009, profits at Neusoft grew by 30 percent.

Dr. Liu received the first doctorate degreein computer applications in China ever. Hewas employed as a professor at the age of33, one of the youngest in the country.Until now, Dr. Liu serves as a professorand vice president at the NortheasternUniversity China, as vice chairman of theChina Software Industry Association, and isa standing member of the Chinese Associa-tion of Automation.

Mr. Wayne Wang is Chairman and CEO ofthe CDP Group, the leading HR outsour-cing service provider in Asia and GreaterChina. Founded in 2004, CDP is nowoffering its services in over 130 cities inChina and has built strong regional coveragein Hong Kong,Taiwan, Singapore, Malaysiaand Australia. CDP manages around500,000 employment relationships.

Mr.Wang graduated from Shanghai’s presti-gious Fudan University and holds both dualMS degrees in Computer engineering andStatistics form the University of Iowa andan EMBA degree from HEC Paris.

Pioneers in internationalization

Under Mr. Liang’s leadership, Fosun notonly executed a “capital export” strategy –investing Chinese capital in foreignresources – but also carried out a “brandexport” strategy, buildig the Fosun brandinternationally. Fosun bought a 7 % stake inClub Med last year which will help growClub Med’s business in China. In January,Fosun signed a tentative agreement withU.S. insurer Prudential to jointly invest upto USD 600M.

Over 30 percent of Mr. Liu’s Neusoftrevenues are generated overseas, a largeportion in Japan. However, Neusoft doesn’tstop there: you expect overseas revenue toaccount for 60 percent of your total in thefuture. Only one year after setting up yourfirst computer lab in 1988, you’ve had yourfirst international customer, Japan’s Alpine.In 2009, Neusoft expanded in the UnitedStates and European markets throughmergers and acquisitions, in 2010 youestablished Neusoft Middle East in Dubai.

Mr.Wang’s CDP provided HR services tomajor international companies from thevery beginning, serving a strong need forprofessional HR outsourcing. By offeringyour services, you’ve helped numerousmultinational clients effectively managetheir workforce and optimize not only theirChina but also their global operations.You’ve expanded your business to serveclients also in Hong Kong,Taiwan, Macao,

Wayne W.Wang, Chairman, CDP Group, China – ‘I believe thatChinese executives need to adopt a more global approach’

Liang Xinjun, Chief Executive Officer, Fosun Group, China,on the importance of corporate social responsibility

23

Singapore, Malaysia and Australia, directlyor through strategic partners.

Importance of social responsibility– active role in civil society

Fosun has a great number of social responsi-bility programs in place, not only in China,but also in other countries. Apart fromdonating large amounts to the victims of theSichuan earthquake, Fosun is also activelyinvesting into Sichuan province to helpbuild a sustainable future. Fosun startedtraining medial professionals in Africa in2009 and donated to flood victims in Taiwan.On the educational sector, among otheractivities, you donated RMB 15M to set upthe “Fudan Education Fund of Visual Art ofFudan University” and RMB 10M to set upthe “Fosun Guangcai Education RewardFund in Hainan Province”. Furthermore,you support and encourage youth entre-preneurship and public welfare programs.

Neusoft has always seen itself at theforefront of environmental protection bypursuing “green growth” and building a

win-win industrial ecosystem. Neusoftestablished IT institutes and a talent trainingcenter, acknowledging that today’s studentsare Neusoft’s future. Currently, there arethree institutes with a total of 25,000 on-campus students. Neusoft’s talent trainingcenters aim to cultivate IT talents for sus-tainable development in the IT industry.

CDP is supporting an apprenticeshipprogramme organised by the Chinesegovernment, by providing internships tostudents in their last year at university or

Experiencing the special Horasis atmosphere

The interactive nature of the boardroom sessions allowed CEOs to sharing challenges they think should be addressed

Charles Ng,Associate Director General,Invest HK, Hong Kong SAR

Faisal Hoque,Founder & Chief Executive Officer,BTM Corporation, USA,making a point

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Plenary Session – Driving the Next Wave of Growth

Studying the programme During the welcome dinner

immediately thereafter, which allows morethan 25,000 students to gain first hand workexperience and which is of great help forthem to start their professional careers.

Tremendous entrepreneurial spirit

Fosun Group was founded in 1992, origi-nally in the properties sector. In 1994,Fosun Pharma was established, 1998 sawthe birth of Forte property development.Two years later, Fosun invested in the retailsector for the first time, another two yearslater in steel, 2004 in mining and 2008 inFosun Media. All these sectors performvery strongly until today, making Fosun oneof the strongest conglomerats in China.

Neusoft’s first software product was quicklypirated, so the company switched gears andstarted selling software and services, anti-

cipating trends that would become main-stream only years later. Neusoft became thefirst listed software company in China in1996, later developed into an IT solutionsand services provider and then became thelargest offshore software outsourcing pro-vider in China. In order to gain the skillsit needs to fuel this growth, Neusoft hascreated a powerful talent network withseveral IT education and training institutes.

Mr.Wang held various senior executivepositions in companies both in China andthe US, founded two companies which wereboth sold to publicy listed companies in theUS and you were CTO of 8848.com, one ofthe first e-Commerce companies in China.

All three award winners excel inleadership, innovation, global reach,and economic performance.

Jiao Xuding, Chairman,SCP Oilfield Services, China

Guy Poto, Director General,Compagnie Africaine de Trade et d’ Investissement, DemocraticRepublic of the Congo

Han Wei, Standing Vice-Chairman,World Eminence Chinese BusinessAssociation, China

25

Speakers gather for the next panel

Exchanging business cards

Lou Marinoff, Professor of Philosophy,The City College of New York, USA, at a nightcap session

Welcome reception

Zhang Xiangming, Executive Vice Chairman,Chongqing Federation of Industrial Economics, China

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Opening Dinner at the Opera

During the gala dinner Wang De, Chairman, XiAn HuaTong New Energy Co.

Lulu Zhou, President, Friendship Across Frontier, China James Fierro, Chairman, Recipco Holdings, Canada

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Registering participants

Valencia city tour on the day after the Global China Business Meeting

Luna ... Luna Flamenca

Wang Xiuju, President,Hebei Real Estate Development Co.

Ivan Tselichtchev, Professor,Niigata University of Management, Japan

Zhang Jun, Chairman,Yenova, China

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Flamenco Show at the closing of the Global China Business Meeting

The meeting brought Valencia to the global attention and opened the city’s attraction for investment from China

Horasis:The Global Visions CommunityThurgauerstrasse 40CH-8050 ZurichSwitzerland

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