(Wang Hong, Dean of China Europe International Business School. Photo courtesy of China Europe International Business School)
Our reporters Xia Zhibin and Shi Yingjing reported from Shanghai
"The current global economy is mainly driven by the two major forces of 'disruptive technological revolution' and 'new globalization change'." On October 22, the event was jointly hosted by China Europe International Business School, the EU-China Trade Association, and the EU-China Chamber of Commerce. Wang Hong, Dean of China Europe International Business School and Professor of Management, said this at the Shanghai branch of the 10th China-EU "Europe Forum".
Wang Hong pointed out that as the fourth industrial revolution accelerates, many disruptive technologies are profoundly changing the global economic landscape and business models. In China, the "three new" economy represented by new industries, new business formats, and new models will have an economic added value of 22.4 trillion yuan in 2023, accounting for 17.7% of GDP. Around the world, cutting-edge technology continues to inject new momentum into economic development. It is estimated that generative artificial intelligence alone will drive global GDP growth by 7% in the next decade. "In recent years, we have also seen decoupling, broken links and high walls, which have had a huge impact on global economic cooperation and exchanges and trade. The world needs a new type of globalization that is more open and inclusive, inclusive and win-win. China and The EU should play a good role as a facilitator.”
It is understood that the scale of China's overseas investment continues to be among the top in the world. Relevant data shows that China’s foreign direct investment has ranked among the top three in the world for 12 consecutive years. By the end of 2023, Chinese domestic investors had established a total of 48,000 overseas companies in 189 countries and regions around the world, of which the EU accounted for 9.8%. At the same time, the two-way investment stock of European companies in China has exceeded US$250 billion.
"China Business News" reporters learned that China Europe International Business School is the only business school jointly established by the Chinese government and the European Union. This year is also the 30th anniversary of the school's establishment. Wang Hong said: "The college has always insisted on building a bridge connecting China, Europe and the world. The China-EU 'European Forum' was founded in 2012 and has been held nearly 30 times in 7 European countries in the past 12 years. It promotes economic, cultural and educational exchanges between China and Europe. We have made positive contributions to mutual trust, exchanges and cooperation.”
The EU and China are each other's important trading partners
"The EU and China are each other's second largest trading partners, with a daily trade volume of 2.3 billion euros, and the two sides are highly interdependent." Regarding the economic exchanges between the EU and China, Gwenn Sonck, executive director of the EU-China Trade Association, said this said.
Song Huian said that despite the global economic slowdown and geopolitical tensions, China is still one of the fastest-growing major economies, with an expected growth of 4.8% in 2024, contributing one-third of global economic growth. China The market is too important to ignore. She said frankly: "If a company wants to be globally competitive, it must do business in China."
In Song Hui'an's view, in the face of the current uncertain business environment, European companies need to adopt new ideas when operating in China, and Chinese companies must also adapt to new changes and find new breakthroughs. For example, China has a leading position in innovation, especially In terms of artificial intelligence and electric vehicles, many companies are attracted by China's market size, local supply chain and innovation.
"China's innovation speed is very impressive. For example, in the Global Innovation Index published by the World Intellectual Property Organization, China's ranking has risen from 34th in 2012 to 11th in 2024." Song Huian said .
It is worth mentioning that in the face of the rapidly changing market environment, Song Huian emphasized the necessity of transformational leadership, especially the need for leaders to be adaptable and forward-looking. "European and Chinese business leaders must understand each other's business environments, and we encourage business leaders to engage in open and direct dialogue to bridge cultural differences and pave the way for a sustainable partnership."
The reporter noted that 2025 marks the 50th anniversary of the establishment of formal diplomatic relations between China and the EU. Wang Hong pointed out that in the past half century, although China-EU relations have encountered twists and turns, they have still cooperated closely, deepened and solidified. Even in 2023, when global trade is in the doldrums, the total bilateral trade volume between China and Europe will still reach 783 billion U.S. dollars. Injecting more confidence and certainty into the global economy.
At the same time, Zhu Jing, Minister of the Chinese Mission to the EU, also pointed out in his speech that under the complex international situation, China and the EU, as the two main forces promoting multipolarity, are playing an important role in promoting world peace and stability and promoting common development. plays a key role. What the world will look like in the future depends largely on the choices of China and the EU. China and the EU are both participants and beneficiaries of globalization. Both sides should work together to support free trade, promote fair competition, maintain the stability of supply and industrial chains, advocate a more inclusive and inclusive economic globalization, and continue to develop together. The essence of China-EU cooperation is complementary advantages, mutual benefit and win-win results.
Multi-dimensional focus on innovative leadership shaping
"Future innovative leadership first requires the ability to adapt and adjust; second, it requires a global mindset. Whether you are a business person or a political person, you must fully understand different cultures and be able to Understand the history of the country; third, have a sense of responsibility." Regarding the characteristics of innovative leadership, Dita Cha, former Deputy Speaker of the European Parliament, spoke at the roundtable forum with the theme of "Innovative Leadership under Disruptive Changes in Business". Dita Charanzová said.
KAI Lücke, ZF Group’s global head of external affairs and senior vice president, believes that the characteristics of good leadership are the same. Whether it is the Kaiser era or today, a good leader must be able to communicate his views clearly and know how to respect others.
Regarding innovative leadership, Qin Shuo, founding editor-in-chief of China Business News and a humanistic financial observer, said bluntly: “Business and enterprises themselves may be affected by factors such as technology, business models, new consumer groups, etc. Future innovation "Leadership is not only about the leadership of the business itself, but also how to better integrate business and stakeholders outside the business."
How to think about innovative leadership from the perspective of internal management of the enterprise? Liu Xinwei, CEO of Gaoshi Medical Technology Group, pointed out in his speech: "When facing some specific internal decision-making matters and procedures, we need the management experience and some On the basis of methodology, some new variables may need to be added, especially what impact new technologies will have on the industry we are in, the new challenges we face, what resources we have, and what kind of capabilities we have. Capabilities, whether we can keep up with changes in new technologies, or how we coordinate resources and capabilities to complete the layout at the right time, these aspects will have a very important impact on a leader and enterprise keeping up with changes in new technologies. ”
Liu Xinwei further said: "For enterprises, such as our mission, vision, values, and medium- and long-term strategic goals, when facing new technologies and new innovative inventions, we also need to focus on these strategic directions in the medium- and long-term dimensions. , review regularly and re-evaluate whether the path we have considered in the past can achieve our strategic goals and realize our mission and vision.”