On Thursday morning, Beyond Expo (Beyond International Technology Innovation Expo) kicked off at the Venetian Macao Convention and Exhibition Center in Macau.
The event features 10 heavyweight speakers to share thoughts on China’s technology innovation.
Please find below-selected quotes from the opening day speeches. The text has been edited for clarity and brevity:
Rising tech investment opportunities in China
Wu Yibing, head of China in Temasek:
Driven by China’s goal of reaching a carbon peak in 2030 and carbon neutrality in 2060, the country is about to see a massive transformation in its energy industry and great transformations in the electric car industry.
We will see significant rising demand for energy services and energy solutions. For example, industries such as centralized energy storage systems, smart grids, and charging infrastructure might see growth in the future.
Temasek is investing in low-carbon and decarbonization technologies, including energy storage, nuclear fusion, geothermal, and 3D manufacturing. We hope to use our ecosystem to help every partner and member form a (global decarbonization) ecosystem.
Ni Zewang, party secretary and board chairman of state-affiliated Shenzhen Capital Group:
What trend would China’s capital market embrace in the next couple of years? We have seen opportunities in key and core technology, information technology, smart manufacturing, and others.
In information technology, we see opportunities in digital infrastructure, which includes 5G and industrial internet of things, and digitization in daily lives and production. In smart manufacturing, the keys are transformation and upgrading…we have solved the problem of not making enough products in the past couple of decades. Now, we are hoping to solve the problem of making better, more competitive products.
Company’s social responsibility
Ma Weihua, chairman of China Alliance of Social Value Investment and former president of China Merchants Bank:
We have discovered that economic development also brings economic and environmental problems (such as inequality and climate change). So we can start weighing both the economic benefits and social impacts at the beginning of every economic activity, at the start of every investment decision, we might minimize these problems.
The Chinese government has asked people to strive for common prosperity. The most important thing in the next 100 years is to keep growing the economy and make sure the gains are better distributed.
Companies should strive to be great companies, not just good companies. A good company can provide good products and good services to society, but a great company makes the world a better place and provides good products and services.
Macao aims to become a tech event hub
Note: China’s Greater Bay Area consists of nine cities in the southern Guangdong province, Hong Kong, and Macao.
Hugo Shong, founding Chairman of IDG Capital:
When we talk about entrepreneurship, most of us will think of silicon valley entrepreneurship heaven. Silicon Valley is in San Francisco Bay Area. There are many bay areas in the world; they share some similarities but also have their own unique characteristics. I think Macao and the Hengqin area (an area neighbouring Macao and Guangdong province and part of a government-led project to develop the Greater Bay Area) are vital and could borrow some of the lessons from the Bay Area in the US. However, this area still lags in terms of investment and education, but it also means huge growth potential. For example, we invested in a solar power company headquartered in Hengqin, Zhuhai. It has already generated about RMB 2 billion in revenue since we invested last November.
Dong Mingzhu, chairwoman of appliance maker Gree Electric:
Gree Electric is based in Zhuhai, neighbouring Macao. We are already a family with Macao, the Greater Bay Area family. I hope that Gree Electric will continue to serve the development of the Greater Bay Area and attract young people in Macao to come to Zhuhai, come to work at Gree, and come to the Greater Bay Area.
Qi Faren, space technology expert and chief designer of “Shenzhou” manned spacecraft: When I visited Macao more than a decade ago, the region was an observer of the space tech. Now, Macao’s tech sector has already taken part in China’s aerospace projects, participating in a scientific exploration satellite project that will be launched next year. I hope we can attract more young people to join China’s space projects.