Boao Fo­rum fo­cuses on ‘growth driv­ers’ for Asia

China Daily (Canada) - - ACROSSAMERICA - By BIAN JIBU

With the theme Asia’s New Fu­ture: Iden­ti­fy­ing New Growth Driv­ers, the 2014 an­nual Boao Fo­rum is be­ing held in China from April 8-11.

On Fri­day, Do­minic Ng, chair­man and CEO of Los Angeles- based East West Bank and chair­man of the Com­mit­tee of 100, is sched­uled to ad­dress a ses­sion on “The Fu­ture of Cen­tral Banks”.

He will dis­cuss the re­spon­si­bil­i­ties and goals of cen­tral banks world­wide. Also tak­ing part will be Zhou Xiaochuan, gover­nor of the People’s Bank of China, and Lawrence Green­wood Jr, for­mer vi­cepres­i­dent of the Asian De­vel­op­ment Bank.

On Wed­nes­day, in­ter­na­tional busi­ness and aca­demic lead­ers par­tic­i­pated in a ses­sion on the Shift­ing Global Sup­ply Chain and the Rise of Asia’s Con­sumer Mar­ket.

Mod­er­ated by Vic­tor Fung, chair­man of the Fung Group, the ses­sion fo­cused on the rise of Asia’s mid­dle class and new con­sump­tion pat­terns.

Pan­elists in­cluded Ng; Stephen Badger, chair­man of the board of Mars Inc; San­jeev Chadha, Pep­siCo CEO for AMEA; Jordan Hansell, chair­man and CEO of NETJETS; Patrick Low, for­mer chief econ­o­mist of the World Trade Or­ga­ni­za­tion and vi­cepres­i­dent of re­search for the Fung Global In­sti­tute; and Wu Guodi, chair­man of the board of China In­ter­na­tional En­ergy Sources Group.

Dur­ing the dis­cus­sion, Ng shared his views on the re­la­tion­ship be­tween in­no­va­tions in fi­nan­cial ser­vices and the shift­ing global sup­ply chain land­scape.

He pointed out that more in­dus­tries such as agri­cul­ture, avi­a­tion and en­ter­tain­ment are in­volved in the ex­port and im­port busi­ness be­tween China and the United States, in­creas­ing op­por­tu­ni­ties for fi­nan­cial ser­vices. The bank­ing in­dus­try needs to quickly ad­just to this chang­ing dy­namic, he said.

The an­nual Boao Fo­rum for Asia is a non-gov­ern­men­tal and non-profit in­ter­na­tional or­ga­ni­za­tion. It has be­come a high-end plat­form for di­a­logue among lead­ers of govern­ment, in­dus­trial and busi­ness cir­cles, and aca­demic cir­cles from Asian coun­tries and other con­ti­nents.

PRO­VIDED TO CHINA DAILY

Pan­elists who took part in a dis­cus­sion on the grow­ing Asian mar­ket at the Boao Fo­rum are (from left) Vic­tor Fung, chair­man of the Fung Group; Stephen Badger, chair­man of the Board of Mars, In­cor­po­rated; San­jeev Chadha, Pep­siCo CEO for AMEA; Jordan Hansell, chair­man and CEO for NETJETS; Patrick Low, for­mer chief econ­o­mist of the World Trade Or­ga­ni­za­tion and vice-pres­i­dent of re­search for the Fung Global In­sti­tute; Do­minic Ng, chair­man and CEO of the Los Angeles-based East West Bank and chair­man of the Com­mit­tee of 100; Wu Guodi, chair­man of the board of China In­ter­na­tional En­ergy Sources Group.

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