On 26 April 2022, Business China organised the fifth Prominent Business Leaders Dialogue Series (PBLDS) featuring one of our Prominent Business Leaders Mr Charles Huang Xisheng as the guest speaker; Mr Huang is the Chairman of Diners Club Singapore. Titled “Opportunities and Challenges in China’s Digital Payment Innovations”, the closed-door dialogue session was conducted in a hybrid format.
The one-and-a-half-hour dialogue session saw close to 60 participants who are members of Business China. The dialogue was moderated by Mr Teng Chen Ji, Country Head of WWRC Singapore Pte. Ltd. Mr Teng is also a Business China’s Advanced Leaders Programme (ALP) alumnus.
Business China CEO Ms Tin Pei Ling kickstarted the event with her opening remarks. She recounted the development and trends of the digital capabilities in Singapore over the years, and the cooperation between Singapore and China in the aspects of electronic payment. She then briefly introduced Mr Huang’s illustrious career and experience in electronic payment projects in China.
Mr Huang then took the stage, starting his presentation by tracing the development of payment systems in China, as well as the current payment structure and system in China. Against this backdrop, Mr Huang gave his opinion on how such developments could inspire the payment structure and system in Singapore in becoming more efficient and beneficial for both users and merchants.
After his informative presentation, audience members were given the opportunity to ask questions. The questions fielded mainly revolved around the theme of the evolving payment structure and system and how can technology play its part in enhancing payment efficiency and managing risk. On this, Mr Huang commented that there needs to be a balance between risk management and payment efficiency, and that modern technology can be used to ascertain individuals’ and businesses’ credit reputation and default risk, thereby reducing transaction time.
Launched on 19 November 2007 by Founding Patron and Founding PM Lee Kuan Yew, Business China marks its 15th anniversary with a vibrant pipeline of events. These include large-scale forums as well as dialogues such as our flagship series – Prominent Business Leaders Dialogue Series. It features successful and experienced Singapore and Chinese Business Leaders in various industries, who share their invaluable insights on business management and philosophies related to Singapore, China and ASEAN. It is attended by invited members and stakeholders of Business China. Apart from exchanging ideas at the dialogue segment, the event also serves as a valuable networking opportunity among members and guests.