This story was published in the SCMP’s Education Post on 27 September, 2016.
What will the China of the future look like? In addition, what professional skill and talents will be required for China’s future economic development? Five experts came together to discuss such issues on the “What Makes China Grow in the Future” panel moderated by Robin Hu, CEO, SCMP Publishers.
The panel consisted of Helen Wong, chief executive, Greater China, the Hong Kong and Shanghai Banking Corporation; Mark Tucker, group chief executive and president, AIA Group; Professor Lawrence J. Lau, Ralph and Claire Landau professor of economics, CUHK; and Albert Ng, chairman, China, and managing partner, Greater China, EY.
Commenting on overseas investments by Chinese companies, Ng said: “The majority of Chinese investment overseas is in the developed markets, and this will continue.” He added that investment trends have pivoted from natural resources into technology and products. “As China continues to develop, we are seeing a significant amount of investment into sectors like consumer products, and even financial services,” Ng said. “These days, when you talk about growth, you have to talk about innovation,” he added.
“Innovation is a big story – people probably don’t know that the number of patents granted in China is the world’s highest,” said Lau. “Much of the Chinese growth in the past, especially in the first 10 years of the reform [period], came from making use of existing resources more efficiently. This will also be a part of future growth. There will be an enormous increase in efficiency in the economy and that will have an impact on GDP growth,” he concluded.
Read the full story here.
Rebecca Simpson. Writer and editor. 