GBA Entrepreneurs Forum 2024 | HK's role in advancing New Product Forces of mainland industries: Sunny Tan
The "Guangdong-Hong Kong-Macao Greater Bay Area Entrepreneurs Forum 2024", co-organized by Our Hong Kong Foundation (OHKF), The Chinese University of Hong Kong (Shenzhen), Shenzhen Finance Institute, the CUHK Business School, and the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Alliance, is held in the Grand Ballroom of Conrad Hong Kong from 8:30 a.m. to 6:00 p.m. today (Nov. 6).
The forum is centered around Hong Kong's unique role as a bridge between the motherland and the world, covering topics about emerging industries such as financial services, artificial intelligence and high-end manufacturing, green economy, and digital assets.
In the afternoon session, The Hon Sunny Tan, Chairman of the Hong Kong Productivity Council (HKPC), delivers a keynote speech on HK's role in advancing the global competitiveness of mainland industries.
First of all, Tan gives a summary of the development of the mainland industries since the reform and opening up, with a highlight in the industrial progress thanks to China's admission to the World Trade Organization (WTO), including increasingly competitive and productive supply chains, comprehensive and sophisticated categories of products, a rise in wage, and a competitive domestic market thanks to the evolving middle-class, etc.
With exceptional advantages of price value and quality of its products, China's manufacturing industry has been experiencing changes from OEM (original equipment manufacturer) and ODM (original design manufacturer) to OBM (original brand manufacturer), Tan elaborates.
He further analyzes the macro market environment which has been redefined. Given the geopolitical tension and instability, the market environment and culture of home and abroad are different, which entails correspondingly reasonable supply chain management.
In this context, New Product Forces (NPF) are also of high necessity, requiring high quality, innovation, green solutions and talent, which will not only contribute to the development of the domestic market but also the international market.
Hong Kong, as a bridge between the motherland and the world, is well-known for its international environment and international standard, enabling China to better grasp the opportunities in the fourth industrial revolution and to achieve the goal of "China brand goes international", a concept underscored in the Two Sessions 2024.
Last but not least, Tan exemplifies how HKPC assists enterprises such as Wai Yuen Tong Medicine Company Limited and UISEE Autonomous Driving Company to thrive in such a new era, emphasizing Hong Kong's strengths in technological empowerment as an I&T center.
The keynote speech is followed by a panel discussion by the aforementioned keynote speaker Sunny Tan, Prof. Xiao Geng, Associate Dean of the School of Public Policy of the Chinese University of Hong Kong, Shenzhen & Chairman of the Hong Kong Institution for International Finance, and Ms. Irina Fan, Director of Research of Hong Kong Trade Development Council.
Reported by Anson
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