Global forum spotlights 3 regional hubs key to powering Asia’s economy
- Experts and leaders from around the region gather for first Global Innovation and Technology Forum streamed from Chengdu, Hong Kong and Singapore
- Keynote speeches and panel discussions address how regional partnerships can drive innovation and investment
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As Asia adjusts to a world reshaped by the Covid-19 pandemic, collaboration and innovation are essential to developing economic resilience. Leading the way towards growth in the region are Chengdu, Hong Kong and Singapore – three hubs that shared the spotlight at the inaugural Global Innovation and Technology Forum.
The virtual event was initiated by the government of Chengdu, a growing hi-tech hub in western China, and streamed from Chengdu, Hong Kong and Singapore featuring a line-up of experts and leaders in business, government and finance. Keynote speeches and panel discussions addressed Asia’s role as a powerhouse for global economic growth, and the opportunities for business and investment that it presents.
In his keynote speech, Leung Chun-ying, vice-chairman, National Committee of the Chinese People’s Political Consultative Conference (CPPCC), and former chief executive of the Hong Kong Special Administrative Region, said international cooperation will remain a key driver of the global economy.
“Globalisation is here to stay. The people of the world cannot afford deglobalisation without suffering downgrades in their living standards,” he told the audience. “Playing up the fear of globalisation for political gains will not lift competitiveness. The sooner governments, enterprises and other stakeholders break down national barriers, the sooner we shall realise for all mankind the full benefits of innovation and technology.”
Growing and evolving economies
Amid the pandemic, Asian economies are recovering faster than those in other regions. The International Monetary Fund said emerging Asian economies are the only region with anticipated GDP growth in 2020 – though merely by 1 per cent – while the rest of the world sees negative growth. Meanwhile, China reported that its economy grew 4.9 per cent in the third quarter.
Chinese President Xi Jinping has announced a “dual circulation” economic strategy that aims to create synergy between the domestic market and international markets. In his address at the forum, Zhou Hanmin, standing committee member, CPPCC, said that the strategy covers five major aspects – human capital, logistics, information, finance, and research and development – with technological innovation as a fundamental driver.
