WEF Business Roundtable Held In Guangzhou

2016 World Economic Forum’s China Business Roundtable kicks off in Guangzhou on Nov. 10. Panelists discuss at the session themed with Digital Transformation: Strategic Impact for China. [China.org.cn/Li Kang]More than 150 business executives, scholars and officials have gathered today in Guangzhou for a WEF roundtable set to discuss China’s vision for promoting digital transformation of strategic industries and path for reform.

It is the first time that the World Economic Forum (WEF) has come to South China. Entitled Digital Transformation of Strategic Industries, the business roundtable is sponsored by the Guangzhou Municipal Government and is tailored to be a major platform for Guangzhou’s social-economic development and engagement in the global economy.

“Benefiting from the automatic and intelligent assembly lines, now it only takes 49 seconds to produce a car,” said Zeng Qinghong, Chairman of China’s Guangzhou Automobile Industry Group, at the discussion session of the 2016 WEF’s China Business Roundtable.

“Undoubtedly, the manufacturing technology such as cloud computing and simulation design driven by digital transformation will reshape China’s automobile industry.”

David Aikman, Chief Representative Officer for Great China, World Economic Forum speaks at the 2016 World Economic Forum’s China Business Roundtable in Guangzhou on Nov. 10. [China.org.cn/Li Kang]

Guangzhou has done a good job in expanding its influence as an international city in past few years, and people really look to what Guangzhou does as a model of transformation and innovation in China.” David Aikman, Chief Representative Officer for Great China, World Economic Forum, said Guangzhou is the ideal city to host this kind of meeting.

After the opening ceremonies, participants join in panels to have in-depth discussions about China’s vision for promoting digital transformation of strategic industries and the paths for reform, to further exploring the opportunities as well as challenges through public-private cooperation. The topics covered quite a wide range of industries, including macroeconomic, Internet, Finance, Automobile, Medical Biology, 3-D printing, drones and visual reality (VR).

Participants experience VR glasses at the interactive session of the 2016 World Economic Forum’s China Business Roundtable in Guangzhou on Nov. 10. [China.org.cn/Li Kang]

“I think there are three core concepts and two big challenges of digital transformation. There core concepts are digital management and operation and keeping on-line and mobilization. The two challenges are big data and cloud computing,” said Zhu Min, former Deputy Managing Director of the International Monetary Fund (IMF). “Without big data and cloud computing, it is hard to improve the efficiency of digital management and operation.”

Zhu Min, former Deputy Managing Director of the International Monetary Fund (IMF) speaks at the 2016 World Economic Forum’s China Business Roundtable in Guangzhou on Nov. 10. [China.org.cn/Li Kang]

“We believe that digital transformation will be a driving force for the birth of new economic growth model. Both the government and the entrepreneurs should move on and keep up with the trend.” said Ma Xin, the Deputy Secretary General of China’s National Development and Reform Commission.

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(Via: NewsGhana)

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