On November 9, the 2023 Fortune China 500 Summit was successfully held in Shanghai. With the theme of “Returning to the Growth Track: Paths and Opportunities”, the summit included 12 roundtable dialogues and interviews throughout the day, with more than 40 business leaders and well-known experts and scholars focusing on macroeconomics, manufacturing, new energy, new consumption, Thoughts and insights were shared on many topics such as smart electric vehicles.
The following are the highlights of this Fortune China 500 Summit. For more exciting content, please pay attention to the follow-up series of reports on the 2023 Fortune China 500 Summit.
Back on the growth track
In recent years, factors such as monetary policy contraction, trade protectionism, and geopolitical risks in developed countries have impacted the global economic recovery. China’s economy also faces many challenges in returning to the growth track. In the face of intertwined global risks, how to achieve the goals of stabilizing growth, stabilizing employment, and controlling risks?
Economic Hard Power: Dominated by Manufacturing Industry
Manufacturing is not only a profound “industry” of China’s economy, but also a “sharp tool” for high-quality development. The overall stable trend of the manufacturing industry will help stabilize the macroeconomic recovery, but accelerating the transformation and upgrading of enterprises will be the main direction for economic recovery in the future. How can companies make better judgments on the macroeconomic situation? How can all parties work together to strengthen the digitalization of manufacturing and promote the simultaneous development of the entire industry chain?
New energy enters a new cycle
In the ongoing sluggish global economic environment, the new energy industry has become one of the few growth points that have bucked the trend. In the first half of 2023, China’s newly installed wind power and photovoltaic capacity exceeded 100 million kilowatts, with a cumulative installed capacity of 860 million kilowatts, and wind power and photovoltaic power generation reaching 730 billion kilowatt hours. The wind power and photovoltaic industry has become one of the most competitive industries in my country. At the same time, advanced digital technology and energy technology are cross-integrated, and a new energy system characterized by the integrated development of digitalization and intelligence is taking shape. How can enterprises seize the new energy development opportunities entering the new cycle? How should we lay out the upgrade of energy digitalization?
Chinese innovation of multinational corporations
With the rapid development of China’s economy, multinational companies have regarded the Chinese market as an important source of innovation. Developing new strategies and models in the Chinese market requires multinational companies to make fuller use of China’s resources, talents and market advantages. At the same time, the increasingly complex international environment has also raised new development propositions for all enterprises. What challenges and opportunities do multinational companies currently face in innovating in China? How to better promote cooperation and innovative development between Chinese and foreign enterprises?
Smart electric vehicles, industrial chain progresses together
The automotive industry is brimming with new opportunities due to electrification and intelligent transformation. The transition from old to new has also brought new opportunities to OEMs, battery factories and parts suppliers. Related industrial chains have attracted increasing attention from the market. How to strengthen the linkage between all parties to promote the “co-progress” of the industrial chain? As overseas sales of Chinese-made cars increase, how can we enhance the resilience of the industrial and supply chains?
Long-termism among retail giants
Jesper Brodin, global president and CEO of the retail giant Ingka Group, shared with us the long-termism that IKEA has adhered to since its 25th anniversary in entering the Chinese market.
Growth strategies in the new consumption era
In recent years, “new consumption” characterized by new business formats and models such as online shopping and mobile payment has developed rapidly. At the same time, the consumer market has begun to enter the era of inventory game, and challenges such as rising traffic costs are coming one after another. How can companies use new market logic to create strong brands that can transcend cycles? As the trend of rational consumption rises, how can companies gain insight into new consumer needs and lead the evolution of brands?
Constant innovation and endless progress
Founded in 1998, LULULEMON has keenly captured the trend of combining “sports + leisure” and has achieved rapid development in recent years. Calvin McDonald, CEO of LULULEMON, shares their journey to innovation.
Industrial “networking” accelerates
For large Chinese companies, embracing digitalization is the greatest certainty in the current uncertain environment. With the implementation of 5G, my country’s industrial Internet is experiencing rapid development, and digital transformation and upgrading in vertical fields is accelerating. At the same time, technologies such as cloud computing, artificial intelligence, and the Internet of Things are also profoundly changing human production and lifestyle. How can enterprises accelerate digital transformation and intelligent upgrade around multiple scenarios and the entire chain?
Towards net zero emissions
It has been three years since China proposed its dual carbon targets. Setting emission reduction targets is a key step in implementing a low-carbon path. Different from the carbon neutrality target that was hotly discussed in the early days, the net-zero target is considered the gold standard for deep decarbonization of current industries and enterprises. Currently, one-fifth of the world’s 2,000 largest listed companies have committed to achieving net-zero emissions goals by 2050. How should large companies implement more comprehensive net-zero emissions strategies in the future?
The “New Era of Going Global” for Chinese Enterprises
The overseas expansion of enterprises is an important part of building a new development pattern of “dual circulation”. In recent years, the trend of Chinese companies going global has been rising, which to a certain extent reflects the trend of a large number of companies turning overseas to look for investment opportunities after Japan fell into deflation in the early 1990s. Under the superposition of multiple risks, how can enterprises grasp new trends, cope with new environments, and seek new breakthroughs in their overseas layout?
Competing for “future industries”
“Future industries” refer to industries formed by disruptive technologies, new products, and new business formats that lead major changes. They have significant characteristics such as high growth, strategic nature, and pioneering nature. The national “14th Five-Year Plan” and long-term goal outline propose that future industry incubation should be organized and implemented in cutting-edge science and technology and industrial transformation fields such as quantum information, brain-like intelligence, genetic technology, future networks, deep sea and space development, hydrogen energy and energy storage. and accelerate plans to plan and deploy a number of future industries. How can enterprises and investment institutions plan ahead and win the future?
Dancing with risks at the feet of history
“History will not simply repeat itself, but it will always follow the same rhyme.” The current global political and economic environment and financial markets seem to have reached a historic moment again. Recently, the U.S. ten-year Treasury bond yield, the anchor of global asset pricing, has continued to rise sharply, reaching a maximum of 5%, the highest value since July 2007. Its impact on financial markets and macro policies deserves attention. At the same time, the prospects for China’s economic recovery are unclear. How do you view the risks faced by global financial markets? How are investors responding? (Fortune Chinese)