On 5 April 2021, Business China successfully co-organised the forum on China’s ‘Two Sessions’ with Lianhe Zaobao, featuring Mr Tan Kong Yam, Professor of Economics at NTU and Mr Tommy Xie, Head of Greater China Research, OCBC as guest speakers. The forum was held in a hybrid format at Orchard Hotel Singapore and was moderated by Ms Han Yong Hong, associate editor of Lianhe Zaobao and editor, Zaobao.com. This was the second time that Business China and Lianhe Zaobao worked together to co-organise the forum on China’s ‘Two Sessions’.
Ms Han started the session by introducing the background of both speakers before giving a broad overview of the Two Sessions 2021. Mr Tommy Xie from OCBC took to the podium and highlighted three key challenges to the Chinese macro economy; the rolling back of massive fiscal support post-COVID, making efforts to prevent and mitigate financial risks as well as uncertainties in China-Europe relations. Mr Xie also shared that China’s economy would focus on sustainability in the long run, with fossil fuel energy and new energy as twin engines of the economy development.
After Mr Xie’s sharing, Professor Tan Kong Yam from NTU delivered his speech on “Decoding Chinese Economic Trends under the Shadow of US-China TensionsFirstly, he spoke about the external challenges faced by China which propelled domestic innovation, followed by providing analysis on the dual circulation economic strategy. He concluded that China needs to be self-sufficient in tech and innovation in order not to be “controlled by others”.
During the Q&A session which was moderated by Ms Han Yong Hong, attendees, both online and on site, participated actively. Mr Ignatius Lim of Shell raised a pertinent question to the panel on China’In response, Mr Xie predicted that China would strike a fine balance between economic growth and sustainability as China’s current economy is still relatively reliant on fossil fuel energy.
Over 100 attendees participated in the two-hour forum; 50 invited attendees on site which comprised of business leaders, ALP alumni as well as Business China Youth Chapter members, and 60 online guests dialling in via zoom.