Former US Treasury Secretary Henry Paulson will give an opening address on economic reform in China on the second day of the Fortune Global Forum on June 7.

Changing economy

It will then be followed by a panel discussion titled "China's Changing Economy" moderated by Stephen Roach, senior fellow at the Jackson Institute of Global Affairs of Yale University.

Given the current economic climate that finds China shifting away from reliance on exports in favor of consumption-driven growth, panelists will try to answer the following questions:

What reforms can we expect, and what will be the impact of this shift?

Will the Chinese population be willing to spend more and save less in a country where the social safety net needs improving?

How will this shift affect the global commodities market, urbanization and environmental challenges in China and beyond?

In addition to Paulson, other confirmed panelists include Dominic Barton, global managing director of McKinsey & Company; Cai Hongbin, dean of the Guanghua School of Management at Peking University, and Alex Gorsky, chairman and CEO of Johnson & Johnson.

Innovation

The next discussion will be on "Innovation: Building a Sustainable Future", which is seen as an important challenge for the entire world.

With the world population projected to reach 9 billion by the mid-century, today's business leaders need to create a new set of rules and tools that will allow their corporations to grow while respecting the planet's resources.

Jeffrey Immelt, chairman and CEO of GE; Fu Chengyu, chairman of Sinopec; and Ellen Kullman, chair and CEO of DuPont will share their views.

Some attendees will participate in a panel called "the Next High-Tech Wave" in which they will discuss new possibilities for Internet and mobile applications as well as other emerging technologies.

What are the next new trends that will drive growth in technology?

What industries will be disrupted by technology next - education, agriculture, transportation, energy?

Where will new innovation hubs emerge and who will provide the capital?

Confirmed panelists are Charles Chao, president and CEO of Sina Corporation; Stephen Elop, president and CEO of Nokia; and Robin Li, CEO of Baidu.

Local opportunities

Presented by Air China, there will be another discussion panel titled "Global Perspective: Winning in the China Market".

China's shift toward domestic consumption will create opportunities for foreign and domestic brands to sell products in China. Luxury goods are in demand, and China's growing number of wealthy people displaying a growing appetite for cars, clothes and travel. How are the best Chinese companies building their businesses? What do foreign brands need to do to compete?

Martin Sorrell, group chief executive of WPP; Victor Chu, chairman of First Eastern Investment Group; Francois-Henri Pinault, chairman and CEO of Kering; and Victor Yuan, founder and CEO of Horizon, will share their opinions on these issues.

Soft power

The next talk is "China's Soft Power: Global Influence and Public Diplomacy".

Former US Ambassador to China Jon Huntsman; Zhao Qizheng, vice-chairman of the Foreign Affairs Committee of the Chinese People's Political Consultative Conference; and Yukon Huang from the Carnegie Endowment's Asia Program will share their views on how China will wield its "soft power" and what this means for geopolitics and economics in the 21st century.

Special for women

Like the opening day, there will also be a special event dedicated to women on the second day. Sheri McCoy, CEO of Avon Products; Linda McMahon, owner and former CEO of World Wrestling Entertainment; and Peggy Yu Yu, chairwoman of Dang Dang, will participate in the panel "Connecting with Women in the Emerging World".

Energy independence

Maintaining the forum's strong focus on China throughout the second day, DuPont will present the panel "Can China be Energy Independent?"

Due to the growth of its available oil reserves and new access to natural gas, the US could soon become energy independent of the Middle East for the first time. China might have even bigger shale gas reserves than the US and the nation's clean energy industry has recently emerged from a major reshuffle.

Looking ahead, the panel will examine issues like whether or not China will ever be capable of producing enough reliable energy to be self-sufficient. It will explore paths to achieving energy independence with an eye toward air quality challenges.

Confirmed panelists are Matt Fox, executive vice-president of exploration and production at ConocoPhillips, and Felix Zhang, co-founder and president of Envision Energy.

Emerging markets

In the afternoon, there will be a talk titled "What's Ahead for Emerging Markets?"

Over the last decade, the majority of growth has occurred in the so-called BRICS nations-- Brazil, Russia, India, China, and South Africa. However, this boom has started to show signs of slowing.

What is the outlook for these economies, and can they sustain growth?

Who are the new leaders, and how can multinational corporations capitalize on these increasingly important markets?

John Faraci, chairman and CEO of International Paper Co; Joseph Jimenez, CEO of Novartis; Peter Sands, group chief executive of Standard Chartered; and Michael Smith, CEO of ANZ Bank, will try to answer these questions.

IP protection

Moderated by Kenneth Lieberthal of the Brookings Institution, a discussion titled "Can Intellectual Property be Kept Safe?" will be held to examine new IP challenges in an increasingly globalized world.

Confirmed panelists are Tony Chen, partner and head of China intellectual property litigation at the Jones Day law firm, and Christopher Dodd, chairman and CEO of the Motion Picture Association of America; and Zheng Xiaolong, a Chinese writer, director and producer.

Social media

The next panel will be "How Social Media is Changing Business".

China has more than 500 million Internet users, twice the number of wired Americans. Chinese users reportedly spend 46 minutes a day visiting social media sites, and this is changing how society does everything from viewing the news to shopping.

How is social media changing China, and what are the new opportunities?

What can Western tech companies learn from their counterparts in the East?

Tim Armstrong, chairman and CEO of AOL; Charles Chao, president and CEO of Sina; and Dele Liu, president of Youku Tudou will share their views.

Going global

Attendees will also participate in "Global Go-to-Market Strategies".

Building a strong global business can take decades and cost billions of dollars in investments. There is much debate about how to go global, including such questions as:

Is it more profitable to be in every country or to focus on a handful of key markets?

As a growing number of Chinese and emerging market companies enter international markets, what strategies are likely to work best?

What new technologies and business models are on the horizon to facilitate this process?

Confirmed panelists are Carlos Brito, CEO of Anheuser-Busch InBev; Pankaj Ghemawat, Anselmo Rubiralta Professor of Global Strategy at the IESE Business School in Barcelona; and Li Shufu, founder and CEO of Zhejiang Geely.

Relaxing evening

After a day of intense debate and discussions, attendees will retire to Kuanzhaixiangzi, a local scenic spot, for a reception, dinner and nightcap.

Hosted by the government of Sichuan province and the city of Chengdu, guests will enjoy an extraordinary evening in historic Kuanzhaixiangzi.

It is a place that blends the architecture and ambience of old Chengdu with modern style and energy.

The organizing committee of the forum provided the story

(China Daily USA 06/04/2013 page15)