On 22 April 2020, Business China conducted a Virtual Briefing titled “Managing your business in the Covid-19 crisis: Lessons from China”, which featured two Business China Board Directors, speaker Mr Foo Jixun, Managing Partner of GGV Capital and guest speaker Mr David Su, Founding Managing Partner of Matrix Partners China. Both are Singaporeans who have over two decades of experience operating in China. The session attracted close to 420 participants, which comprised of Business China members (young business leaders, senior executives of corporates and working professionals), entrepreneurs and business owners from both Singapore and the region.
The session started at SGT 10.30am, with moderator Mr Nicholas Fang, Managing Director of Black Dot, providing an overview of the current Covid-19 situation and its impacts on businesses. This was followed by the main segment which was conducted in a Q&A format. Both speakers shared candid views on strategies and possible execution plans to prepare for the post Covid-19 period, expected time needed for businesses to return to normalcy and the possible challenges during this recovery phase, as well as investment opportunities derived from the shifts in technology and consumer behaviour as well as socio-political changes. They further gave their opinions on the recovery process for both the global economy as well as urban and infrastructure development in China, post Covid-19.
Throughout the Q&A segment, participants were forthcoming in submitting their questions through the ZOOM webinar platform, with some expressing concerns on China’s Belt and Road Initiative as well as the shift in reliance from China to other parts of the world after this pandemic.
As a closing word of advice for Singapore companies, both speakers urged these companies to look inwards for solutions. Mr Su encouraged business owners to think deep and decide on the best model for the company to move forward, while Mr Foo shared on finding an opportunity in every crisis and advised the companies to strengthen their competitive advantage and fix their internal problems instead of seeking external help.
The Virtual Briefing lasted for one and a half hours, with majority of the participants finding it informative and insightful.
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