How will business respond to headwinds of the pandemic?

With the COVID-19 outbreak largely contained, China is turning its focus to economic recovery by reviving domestic consumption. The digital economy has amidst strict lockdown measures. Opportunities come with challenges in this new situation. How will enterprises and entrepreneurs initiate changes and make effective transitions facing the headwinds of COVID-19?

On May 15, the Center for China and Globalization (CCG) hosted a webinar titled "Technology and coronavirus Ⅱ: lessons and proposals from China and the United States." The webinar featured business representatives, CCG experts and scholars discussing topics such as how technology impacts lifestyles and modes of production, and the innovation and transformation of business models and enterprises. 

CCG Secretary-General Mabel Miao said that the fundamental change brought about by the digital economy is the liberation of more individuals, causing changes in the traditional hierarchy. She said that traditional industrial and business models will go through a dramatic change.

Marvin Hong, CCG senior vice chairman and CEO of Hop Hing Group, pointed out that internet companies have comparative advantages in intelligent business, and that future trends may evolve towards data intelligence and network collaboration.

Chen Quansheng, counselor for the State Council of the People's Republic of China, former director-general of Division for Industry & Transportation at the Department of Research of the State Council, said that supporting enterprises means protecting jobs so as to guard the livelihoods of the people. He said that enterprises are an important part of supply and industrial chains. He also mentioned that the protection of enterprises is the basis for ensuring grassroots administration operation and financial stability. 

Huang Rihan, executive director of the CCG Belt and Road Institute, expressed that for digital economy management, live video streaming needs further standardization. He suggested that the principle of inclusiveness should be followed to train digital talent so that more people could benefit from the transformation of the digital economy in the future.

Wang Shengdi, CCG senior council member, founder and CEO of Daddy's Choice, said that the era of bubbles has passed, and that business will return to rationality. He said that we can only survive by trying to be truly refined and creating good enterprises, brands and products, just like some developed countries such as Japan and Germany.

Xu Hongcai, deputy chief economist of China Center for International Economic Exchanges (CCIEE) and CCG non-resident senior fellow, suggested that companies should improve their viability and accelerate business model innovation in response to the early warnings and sudden changes in the international and domestic environment. He added that demand stratification is the main direction for future business model innovation due to the upgrade of consumer demands when companies open up new markets.

CCG Books

● Published by Edward Elgar 

● Edited by Wang Huiyao, President and Miao Lu, Vice President, Center for China and Globalization(CCG), Beijing, China 

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An excellent guide for understanding the trends, challenges and opportunities facing China through globalization, this Handbook answers the pertinent questions regarding the globalization process and China’s influence on the world.

With contributions from leading experts and international researchers, each chapter covers key topics regarding China’s participation in globalization, including: China’s new role in global economic governance; outward direct investment; China’s soft power and the implications for foreign relations; global migration, diaspora and talent. An enriching range of case studies and extensive empirical research are used to explore the successes and failures of globalization in China, and to discuss the dilemmas facing decision makers in today’s globalized world. A major contribution to the field, this Handbook offers valuable insights to China’s often misunderstood globalization process.

An essential reference for academics and researchers looking for a go-to empirical resource, this Handbook provides scholars of economics, politics and East Asian studies with an exemplary selection of contemporary research on China and globalization.

● Links：

https://www.e-elgar.com/shop/handbook-on-china-and-globalization

● Published by Springer

● Authors: Wang Huiyao, President and Miao Lu, Vice President, Center for China and Globalization(CCG), Beijing, China 

The first effort to address the gap regarding higher-end talent within the scholarly work on internal labor migration in China

Provides an essential overview of the major milestones in China’s talents attraction policies, as well as several recommendations to help further improve those policies

Investigates corresponding policies in Germany, Japan, and Singapore to serve as a basis for comparison

Provides a snapshot of first-hand reference material for relevant stakeholders involved in cooperation with China

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This book offers the most comprehensive, up-to-date assessment of China’s domestic and international migration. Restructuring economic development requires large numbers of educated and skilled talents, but this effort comes at a time when the size of China’s domestic workforce is shrinking. In response, both national and regional governments in China have been keen to encourage overseas Chinese talents and professionals to return to the country. Meanwhile, the Chinese government has initiated a number of policies to attract international highly-skilled talents and enhance the country’s competitiveness, and some Chinese policies have started attracting foreign talents, who are coming to the country to work, and even to stay. Since Chinese policies, mechanisms, and administration efforts to attract and retain skilled domestic or overseas talents are helping to reshape China’s economy and are significantly affecting the cooperation on migration and talent mobility, these aspects, in addition to being of scholarly and research interest, hold considerable commercial potential.

● Links：

https://www.springer.com/gp/book/9789811362552#aboutBook

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