On February 27, 2009, Global risk control and management in 2009 workshop was held in Shenzhen Graduate School of Peking University which was sponsored by the World Economic Forum and HSBC School of Business. Prof. Xiao Geng, director of the Brookings-Tsinghua Center for public policy, Long Guoqiang, vice minister of the Research Department of Foreign Economic Relations of the Development Research Center (DRC) of the State Council of P. R. C., Prof. Fan Gang and numerous business leaders as well as scholars gathered here and discussed the "2009 Global Risk Report" and how to effectively implement strategies for the crisis confronting China’s enterprises.
Xiao Geng, director of the Brookings-Tsinghua Center for public policy
The workshop was presided over by Xiao Geng. Then Vincent Chang, vice president of HSBC School of Business delivered a welcoming statement. When came to Risk, Prof. Chang, held that Risk was not a negative word but including the good as well the bad situations.The collapse of LTCM Company 4 years ago was resulted from the lack of efficient risk diversification. Although its founders were two winners of the Nobel Prize in economics, the company still trapped into failure. So it was very important to put forward the concept while it was not easy to practice it.
Vincent Chang, vice president of HSBC School of Business
Mr. Wei Ruilong, in charge of World Economic Forum, then made speech. He expressed his appreciation for the cooperation of HSBC School of Business and the arrival of ladies and gentlemen, briefly introduced the history of the World Economic Forum and gave a detailed interpretation of the “2009 Global Risk Report”. He pointed out that the most important discoveries of the report were: 1)China's economic growth rate would drop below 6 percent; 2) At the same time, the report also stressed the problem of water pollution and climate. He hoped that better methods to deal with these issues would come about at the G20 meeting in 2010.
Mr. Wei Ruilong, in charge of World Economic Forum, then made speech
Subsequently, the business leaders from different industries and different regions carried on the first panel discussions on "Which risks have the greatest impact on the development of this company in 2009?" After 30-minutes’ discussion, they chose policy risks, which was most concerned by China’s enterprises. Mr. Long Guoqiang and Prof. Fan Gang gave their insight on this, affirmed the policy which was implemented since last year and expressed strong confidence in China’s government. Entrepreneurs were deeply encouraged and re-voted for risks. As a result, the most attention was China's economic hard landing; the second was the effect of the United States’ deal with risks; the third was social stability and the fourth was the policy risk.
Long Guoqiang, vice minister of DRC of the State Council of P. R. C.,
Fan Gang, Professor of HSBC School of Business
Entrepreneurs put forward some acute issues in exchange with Mr.Long Guoqiang and Prof. Fan Gang, Mr.Long Guoqiang summed up three points of China' current situations: the impact of foreign countries, China's economic cycle was going down (the real estate bubble) and institutional contradictions since the 30 years’ reform and opening up. He stressed that we’d better be clear of the present situations in order to better cope with the future situations. Meanwhile, they reminded that we should not be blindly optimistic about the long-term trend while the United States had a very strong ability to recover and status of Chins was upgrading slowly. The second panel discussion was surrounding on “which good experience to follow by China’s enterprises in the process of coping with risks and going out of danger?” Finally, Mr. Wei Ruilong and Prof. Vincent Chang delivered their appreciation again to the ladies and gentlemen.
panel discussion
Editor: Liu Xuezhu
