Global uncertainty and what it means for businesses in China
It was a great pleasure to host our Shanghai CXOs at Park Hyatt Shanghai on Wednesday, August 24 for the “Uncertainty as the only certainty” luncheon. With about 50 senior executives from our member companies joining, this event provided an invaluable opportunity for business conversation and networking.
Many thanks to our fantastic keynote speaker, Chen Wu (The Economist GBR), and panelists Joanna Zhu (CEVA Logistics) and Elton Huang (PwC), for an in-depth discussion on how to cope with intensifying uncertainty and stay resilient in the Chinese market.
Here are some pictures from the event along with the key takeaways:
- There are three major challenges that current business leaders are facing: restructuring of the macroeconomic environment, the deteriorated geopolitical tensions across the globe, and the deepening digital transformation.
- It is unrealistic to deliver over-precise predictions in the VUCA (volatility, uncertainty, complexity, and ambiguity) era, and the ability to live with uncertainty is becoming a must-have quality for a visionary business leader.
- Zero-covid policy remains the major drag on the recovery of private consumption, and consequently aggregate economic vitality of China. Business leaders should take a more proactive role in making our voices heard by the policy makers.
- Despite the current difficulties and challenges, many MNEs remain confident about the outlook of the Chinese market in the long-term, and plans for investment expansion remain unchanged.
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