Program

14:30-14:35 Welcome Remarks

Prof. Fan Gang, President of China Development Institute

Moderator: Dr. Guo Wanda, Executive Vice President of China Development Institute

14:35-15:30  Session One –The non-ASEAN perspective on the future of RCEP

Moderator: Dr. Guo Wanda, Executive Vice President, China Development Institute

Panelists

• Dr. Song Zhiyong, Director of Asia Institute, Chinese Academy of International Trade and Economic Cooperation
• Mr. Umezaki So, Director of Development Studies Center, Institute of Developing Economies Japan External Trade Organization
• Prof. Peter Drysdale, Director of East Asian Bureau of Economic Research at the Australian National University
• Prof. Jane Kelsey, Professor of law, University of Auckland, New Zealand
• Prof. Sang Hun Lee, Cheif Representative of Beijing Office, Korea Institute for International Economic Policy

(* 10 min for each speaker)

15:30-16:55  Session Two –The ASEAN perspective on the future of RCEP

Moderator: Dr. Michael Yeoh, President of KSI Strategic Institute for Asia Pacific, Malaysia

Panelists

• Dr. WisarnPupphavesa, Senior Advisor, International Economic Relations, Thailand Development Research Institute
• Dr. Oh Ei Sun, Senior Fellow at Singapore Institute of International Affairs
• Prof. Joefe Santarita, Director of Asian Studies Center, University of Philippines Diliman
• Dr. Kin Phea, Director General of International Relations Institute of Cambodia, Royal Academy of Cambodia
• Prof. Ahmed Khalid, Dean of School of Business and Economics, Universiti Brunei Darussalam
• Mr. Nguyen Anh Duong, Director of Department for General Economic Issues and Integration Studies, Central Institute for Economic Management, Vietnam
• Dr. Fajar B. Hirawan, Researcher at the Department of Economics, Center for Strategic and International Studies, Indonesia

(* 10 min for each speaker)

16:55-17:00 Closing remarks

Dr. Michael Yeoh, President of KSI Strategic Institute for Asia Pacific, Malaysia

Speaker Profile

Video

Highlights

On December 10th 2021, China Development Institute (CDI) and the Bay Area Council Economic Institute co-organised an online dialogue between China's Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and San Francisco Bay Area. Scholars from both countries exchanged views on the two bay areas’ economic development and outlook, as well as Sino-U.S. relations. Over three hundred audience from all spheres, including government officials, researchers, executives and media outlets, tuned in for this webinar.

Dr. Wanda Guo, executive vice president of CDI, proposed that Sino-U.S. dialogue should be built on common interest, while bilateral relation could be improved through cooperation on the regional level, especially the business collaboration in the emerging industries between the two bay areas. The two countries could also take advantage of multilateral frameworks in expanding Sino-U.S. cooperation with a foundation of restored trust and respect for each other.

Dr. Sean Randolph, senior director of Bay Area Council Economic Institute, advised that notwithstanding the existing practical obstacles between the two bay areas, there are a few promising areas for collaboration in the private sector, such as clean technology, climate change, health care, biomedicine, and electrical and autonomous vehicles. In addition, Dr. Randolph stressed that the combination of Hong Kong’s role as an international financial service provider and the GBA’s highly developed manufacturing capability is advantageous, and will be attractive for American businesses and investments in the foreseeable future.

Dr. Chenyang Xu, fellow of Institute of Electrical and Electronics Engineers, co-founding partner of Silicon Valley Future Academy, added that regional level collaboration could be an alternative pathway to resuming a normal Sino-U.S. dialogue.

He argued that the communications and exchanges on the local level shouldn’t be interrupted by the ongoing Sino-U.S. trade frictions, the U.S. sanctions, or the global pandemic. Private companies that are present within the two bay areas should complimentarily and pragmatically collaborate in each party’s respective advantageous fields, such as, the rich history of scientific innovations and digital revolution enjoyed by Silicon Valley, and big data, biomedicine, smart manufacturing, and commercialization of scientific research seen in the Greater Bay Area.

Mr. Perry Wong, managing director, China at Milken Institute, echoed the notion of maintaining normal communication between the two countries without politicising the issues, especially in terms of climate change and health care collaboration between China’s Greater Bay Area and the American San Francisco Bay Area. 

He elaborated that the two bay areas could explore the investment and business opportunities together within emerging countries in dealing with climate change with increased application of science and technology. Furthermore, collective research and development into public health, health science and technology with the aim of curing critical diseases, illness and caring for the aging population will result in mutual benefits for the two bay areas. Last but not least, in terms of the human resource sector, both parties need to focus on issues pertaining to attracting and retaining talents.

Ms. Rui Ma, chief analyst and director of Tech Buzz China in Silicon Valley, has said that the dialogue between entrepreneurs could help to minimise misunderstandings between China and the US. She stressed that both sides are expected to explore areas of communication on industry regulations, standards, intellectual property protection, as well as fair and open market access.

Presently, both China and the US are the innovative hi-tech centres. The two bay areas have driven innovation and business successes from a global perspective. Companies that are operating in these two bay areas should keep up dialogues, finding avenues of cooperation in other aspects not just entrepreneurship and investor education, but also digital technology, fintech and bio-medicine.

Director of One-Country-Two-Systems Research Institute Dr. Zhou Fang stated that the Guangdong-Hong Kong-Macao Greater Bay Area is featured with a unique system. With the GBA strives to become a hub for the world, there are a lot to learn and exchange between the GBA and the San Francisco Bay Area. Efforts are being made in a number of key areas in the GBA. Firstly, the building of a diversified financial exchange and trade platform within the GBA will facilitate regulated capital flow between China’s mainland and the two Special Administrative Regions. Secondly, the science research commercialisation capability and manufacturing power will be further strengthened as the GBA’s hi-tech industries become better integrated within the region. Lastly, infrastructural connectivity within the GBA will be further enhanced with the railway network consisted of national, inter-city, and inner-city rails, which is already under construction.

According to Mr. Jian Peng, director of Industrial Development and Urban Planning Research Centre, CDI, the two bay areas are both rapidly evolving in terms of scientific and technological innovations, it is hard to keep track of all the changes. Therefore, a diversified channel for communication will be beneficial for better understanding the two bay areas, to dissolve regional business and investment barriers. Mr. Peng also pointed out that the innovation progress is prone to changes within the public services and resources, as seen in the Silicon Valley tech exodus caused by the rising operational and living cost. Therefore, development in public policies planning is critical in preserving scientific and technological innovation in the region, which is also an issue faced by both bay areas.

Program

10:00-12:00: Dialogue Between China's GBA and San Francisco Bay Area

Moderator

Guo Wanda, Executive Vice President, China Development Institute

Speakers

Sean Randolph, Senior Director, Bay Area Council Economic Institute

Fang Zhou, Director, One-Country-Two-Systems Research Institute

Chenyang Xu, Fellow of Institute of Electrical and Electronics Engineers,  

Co-Founding Partner of Silicon Valley Future Academy

Perry Wong, Managing Director, China at Milken Institute

Rui Ma, Chief Analyst& Head, Tech Buzz China in Silicon Valley

Peng Jian, Director of Industrial Development and Urban Planning

Research Center, China Development Institute

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Video

Highlights

China and Japan to further open up bilateral industrial cooperation

The Regional Comprehensive Economic Partnership (RCEP) trade agreement will take effect as of January 1, 2022. In light of the changing regional economic landscape, on November 4, 2021, China Development Institute (CDI) and the Pangoal Institution co-organized a webinar themed Sino-Japan industrial development and bilateral cooperation under RCEP where scholars from both countries shared insights on how China-Japan economic cooperation and trade should respond to global economic uncertainties and how to bring China-Japan industrial cooperation to a higher level.

Dr. Guo Wanda, Executive Vice President of CDI, proposed that China and Japan bilateral cooperation should further open up in order to achieve win-win outcomes under the framework of the RCEP against the suffering global economy, while fully accommodating market demands and complementarily building on each party’s respective strengths.

Yi Peng, Chairman of Pangoal Institution, suggested that China and Japan should explore cooperation in finding solutions to key issues such as the aging population and climate change. In addition, China can learn from Japan’s rich and valuable experience in medical and recreational industries and clean energy technology development. Once RCEP comes into force, the rest of RCEP signing members will be motivated to accelerate their rectification process and attracted by the huge regional potential unleashed by it. The global economic recovery will undoubtedly benefit from it as well.

Global supply chain has been largely affected by Sino-U.S. trade frictions and the COVID-19 pandemic. Li Wei, professor at School of International Studies, Renmin University of China, suggested that since Japan and the United States share strong interests in reshaping the supply chain, industrial transfer is likely to occur among Japanese companies, namely the China-based Japanese enterprises that operate internationally, especially those in the manufacturing sector. Although it’s less likely to see obvious industrial transfer among Japanese multinationals with China as their main consumer market.

Chi Hung Kwan, senior fellow at Nomura Institute of Capital Markets Research, said that China's "dual circulation" strategy will have impacts on the global economy as well as Sino-Japan cooperation. On one hand, China's growing domestic production will lead to reduced imports of intermediate products such as parts and components, and Japanese and Korean enterprises will face greater competitive pressure from their Chinese counterparts. On the other hand, with the continuous upgrading of China's domestic industries, more commodities originally produced for exports will be sold domestically, providing opportunities for emerging economies such as ASEAN to expand their share of labor-intensive products in the global market.

Pang Zhongying, distinguished professor at Ocean University of China, advised that under the impact of the pandemic, countries around the world have tightened their trade policies, posing a significant challenge to the multilateral trading system. Once RCEP takes effect, free trade among East Asian economies will be enhanced. As two major economies in East Asia and important members of RCEP, China and Japan should establish a more resilient industrial chain and supply chain in a bid to alleviate the adverse effects of unilateralism and anti-globalization on regional economic development.

He Jun, researcher at the Institute of Industrial Economics of Chinese Academy of Social Sciences, offered that there is still huge potential for Sino-Japan cooperation. On one hand, China needs to further open-up its market while improving the intellectual property protection mechanism. On the other hand, Japan derives its industrial advantages from a closed supply chain; its opening-up to China is critical to the qualitative improvement of Sino-Japan cooperation. Moving forward, Sino-Japan industrial cooperation lies in industries where one has a lot to offer to the other, such as Japan’s elderly care and medical device industries and China’s mobile communication terminals and system equipment industries.

Cao Zhongxiong, Director of New Economy Research Institute at CDI, proposed that in order to cope with the challenges brought about by a changing global industrial chain, China-Japan cooperation should seize four major opportunities, namely, 1) consumption upgrade in China's market; 2) transformation of China's industrial structure; 3) China’s efforts to make up for missing links in its industrial chain and supply chain; 4) China's efforts to participate in depth in global industrial operations. China-Japan future cooperation will need to give consideration on higher level industrial chain and supply chain, and digital technology applications.

Liu Qingbin, professor at Institute for Advanced Study, Yokohama National University, suggested that as a leader in analog technology, Japan is highly dependent on fax for daily information exchange within and between its government authorities and enterprises, with digital reform slowly progressing. Thus, there are broad prospects for cooperation between China and Japan in digital technology platform and digital business platform among other fields of digital economy in the future. In addition, China and Japan future cooperation should lean towards industries like prefabricated construction which is a well-developed industry in Japan but not in China.

Program

Opening Remarks

• YI Peng, Chairman of Pangoal Institution, China
• GUO Wanda, Executive Vice President of China Development Institute

Panelists

• Chi Hung KWAN, Senior Fellow at Nomura Institute of Capital Markets Research, Japan
• HE Jun, Researcher at the Institute of Industrial Economics of Chinese Academy of Social Sciences
• PANG Zhongying, Distinguished Professor at Ocean University of China, Senior Fellow at Pangoal Institution, China
• Liu Qingbin, Professor at Institute for Advanced Study, Yokohama National University, Japan
• LI Wei, Professor at School of International Studies, Renmin University of China
• CAO Zhongxiong, Director of New Economy Research Institute, China Development Institute

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Program

Opening Remarks

Moderator: Dr. GUO Wanda, Executive Vice President of China Development Institute

Speakers:

• Prof. FAN Gang, President of China Development Institute
• Prof. LI Junfeng, Director of Chinese Renewable Energy Industries Association
• Mr. David MORRIS, Vice President of the United Nations Sustainable Business Network for Asia Pacific

Session One: Green Economy and Carbon Neutrality

Moderator: Dr. GUO Wanda, Executive Vice President of China Development Institute

Speakers:

• Prof. TANG Jie, Professor of School of Economics and Management, Harbin Institute of Technology, Shenzhen; Former Deputy Mayor of Shenzhen Municipal Government, China
• Dr. LI Lailai, Affiliated Researcher of Stockholm Environment Institute, Sweden
• Prof. YANG Lei, Deputy President of Energy Institute at Peking University, China

Session Two: Energy Transition and Carbon Emission Reduction

Moderator: Dr. LI Lailai, Affiliated Researcher of Stockholm Environment Institute, Sweden

Speakers:

• Dr. Louise VAN SCHAIK, Head of Unit EU & Global Affairs, the Netherlands Institute of International Relations
• Prof. Joachim VON BRAUN, Director of Center for Development Research (ZEF) University of Bonn, Germany
• Mr. LIU Qiang, Director of Programmes (China) of Children's Investment Fund Foundation
• Ms. Margaret CHEN, BP China Chief Economist

Highlights

China to promote international collaboration on climate change to achieve peak emissions and carbon neutrality goals

Firstly, enterprises and local governments need to have a better understanding of the rationale behind China’s peak emissions and carbon neutrality goals. This will require extensive education regarding these goals and carbon transition. Secondly, scientific and policy research is essential, especially in dealing with the relationship between the government and the market, and the government and the private sector. Thirdly, the emphasis should be shifted from total energy consumption to total carbon emissions to avoid unhelpful restrictions being placed on renewable energy generation as we endeavour to reduce the consumption of fossil fuels. Fourthly, carbon lock-in should be prevented, building new coal power plants should be prohibited and R&D and application of carbon caption and sequestration technologies should be undertaken.

• Prof. FAN Gang, President of CDI 

The core of “carbon neutrality” action is to advance the transition from the resource-dependent development model to the technology-driven development model across both the economic and social planes. This transition manifests in three areas: growth model, energy system and lifestyle. It is important that carbon neutrality is approached without compromising energy or economic security. To better advance this energy transition, it is important to first, complete the policy transition from total energy consumption control to total fossil fuel consumption control; second, promote an earlier carbon peak of coal consumption with appropriate control of coal power plant development; third, control the development of non-fossil fuel energy such as wind power and solar power; fourth, create systematic safeguarding of the advancement of this energy transition.

• Prof. LI Junfeng, Director of Chinese Renewable Energy Industries Association

Climate change poses great challenges for all mankind. It is crucial for all nations to avoid zero-sum thinking and to instead keep an open mind and work collaboratively towards realising the common goal of advancing green development and climate change action while reserving differences and allowing competition. The Asia-Pacific region could explore the establishment of a regional cooperation framework to better facilitate energy transition, green infrastructure construction, green finance implementation and green BRI development.

• Mr David MORRIS, Vice President of the United Nations Sustainable Business Network for the Asia-Pacific

The structural reform of the supply side of business is vital to achieving peak emissions and carbon neutrality. Taking Shenzhen as an example, the city’s structural upgrade of its industries, energy and technologies in recent years has successfully shifted its economic growth pattern while meeting air quality standards and reaching peak carbon emissions. The Shenzhen experience proves the close correlation between advancing manufacturing and reaching peak carbon emissions.

• Prof. TANG Jie, Professor of the School of Economics and Management, Harbin Institute of Technology, Shenzhen; Former Deputy Mayor of Shenzhen Municipal Government, China

The sixth IPCC assessment more accurately observed that the Earth’s climate system is undergoing a significant change characterised by warming at an unprecedented speed. The heavy rainfall seen in China and many countries around the world in 2021 is an example of the danger of global warming. These grim facts warn all mankind to take immediate action to mobilise the necessary resources to adapt to climate change, thereby reducing the impact of natural disasters. The advantage of appropriate adaptation measures is three-fold: they avoid future losses, encourage economic growth through innovation and offer wide-ranging social and environmental benefits.

• Dr LI Lailai, Affiliated Researcher at the Stockholm Environment Institute, Sweden

Firstly, carbon neutrality and energy transition is a comprehensive project; the approach to which varies, as illustrated by the different methods employed in developed countries. It is important to find a route that is appropriate for China’s economic development. Secondly, a healthy and functional energy market is fundamental to the advancement of energy transition and the achievement of carbon neutrality. Thirdly, it has been proven in many instances that carbon neutrality is viable. We need to have faith in ourselves and settle our minds on success. The general public needs to be informed and motivated as well.

• Prof. YANG Lei, Deputy President of the Energy Institute at Peking University, China

The European Union has been aware of the severity of climate change since the 90’s. In the following decade, related policies and legislations were introduced. In 2005, carbon exchange was set in motion, as well as a corresponding standards and policy system. Recently, the European economy has suffered a major blow from the Covid-19 pandemic. The green economy and digital economy will be the driving forces behind the region’s post-pandemic economic recovery. The European Green Deal has proposed even stricter goals for carbon neutrality. In the future, the EU will further improve energy foreign policy to facilitate a synergic energy transition. Here, there is great potential for China and the EU to collaborate to create standards for environmental protection, energy transition and R&D for green technology.

• Dr Louise VAN SCHAIK, Head of Unit EU & Global Affairs, the Netherlands Institute of International Relations

Firstly, China and the EU both play important roles in setting the global climate policy agenda and coordinating initiatives for the implementation of the Paris Agreement. They are thus able to collaboratively mobilise resources for the Green Climate Fund and work towards building the global carbon market and strengthening the link between climate policy and development. Secondly, China and the EU should enhance trade coordination to minimise the negative environmental impact that trade activities can have on other nations. Thirdly, considering China’s extraordinary success in reforesting, China and the EU could potentially collaborate in sustainable agriculture policymaking. Fourthly, China and the EU could initiate joint cooperation activities with African nations for sustainable land use, food security, forest protection and energy innovation.

• Prof. Joachim VON BRAUN, Director of the Center for Development Research (ZEF) University of Bonn, Germany

Firstly, it is important to focus on coordinating the energy transition and economic development, especially the balance between costs and benefits, as well as between short term and long-term goals. Secondly, the road map for reaching peak carbon emissions and carbon neutrality needs to be clarified to avoid carbon lock-in. Thirdly, coordinated planning at the regional level should be explored taking into account regional variations and local needs. Fourthly, international cooperation and exchange should be strengthened to seek mutual benefits.

• Mr LIU Qiang, Director of Programmes (China) of Children's Investment Fund Foundation

Firstly, the decline in total primary energy consumption in 2020 was significant, nearly 5%, with carbon emissions falling by about 6%, the largest annual decline since World War II. However, the huge reduction in oil consumption in the transportation sector was caused by Covid-19 prevention measures, which are unsustainable. Secondly, the world's energy structure is still moving towards cleaner energy and low carbon. The use of coal and oil has been decreasing while the use of natural gas and renewable energy has been increasing. However, the level of oil consumption in China is bucking global trends and continues to grow. Thirdly, last year, despite the world being in the grip of the Covid-19 pandemic, global power generation and electricity consumption did not see dramatic reductions and instead remained roughly the same thanks to China. The global increase in renewable energy has mainly come from China as well. Fourthly, the leading global trend in primary energy structure change is the continuing decline in the use of fossil fuels.

• Ms Margaret CHEN, BP China Chief Economist

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