Experts urged to maintain openness in post-pandemic world

"The world community is more fragile and more divided than ever, seemingly lacking the spirit and the political tools to find the necessary answers to common challenges. We need to keep in mind how important it is to keep an open world and to maintain dialogue," said Dominique de Villepin, former French prime minister and a distinguished professor at the China Europe International Business School, at a forum on July 2.

In a keynote speech online, De Villepin said it was necessary to maintain openness and dialogue but also to discuss what common rules could help narrow differences. "Only by being united, may we be able to address and overcome the unprecedented challenges we face."

On July 2, the China Europe International Business School held a forum titled "Global Business Environment Amidst Tremendous Changes". More than 10 experts from the political, business, and academic circles shared their views from multiple perspectives. Chinese and foreign experts believe in the post-pandemic era, it is more important than ever to promote governance and optimization of the global business environment and build an open world economy.

Ding Yuan, vice president and dean of CEIBS, said the world faces both the challenges of COVID-19 and the complex geopolitical situation, as well as opportunities in the recovery of global commerce and trade and the increased importance of China in the global supply chain, trade and investment.

Yi Xiaozhun, former deputy director-general of the WTO and former vice-minister of commerce, said since China joined the WTO two decades ago, its economic aggregate has grown nearly tenfold, making it the world's second-largest economy. China's annual contribution to global economic growth is close to 30 percent, and the country is not only one of the biggest beneficiaries of the multilateral trading system, but also its biggest contributor, Yi said. Reform and opening-up will never stop, he added, as it is also the only way to resolve the many international conflicts we face today.

As China continues to deepen its opening up and improve its business environment, it has become increasingly attractive to foreign investment, and many multinational companies are prospering in the Chinese market. Eric Bouteiller, an adjunct professor of management at CEIBS, stressed China has the world's largest amount of data, which is an important feature and driving force of the Chinese economy, and multinational companies need to think about how to seize opportunities and adjust their product portfolios and business models.

Tom Simpson, president and chief representative of the China-Britain Business Council in China, said, for example, the current "Guo Chao among young Chinese consumers reflects the changing market trends, and multinational companies need to be sensitive to consumer needs and deploy development strategies accordingly.