Francis Chua Invited To Attend The Cloud Forum For Digital Economy International Cooperation
3 Aug 2020


Above, the China Forum.

Left of Figure 2:Keynote speaker Amb. Francis Chua;

Right of Figure 2: Glenn G. Peñaranda, the Philippine Ambassador to China.

Figure 3 shows the Commercial Counselor of the Philippine Embassy in China.


On July 29, the 2020 Cloud Forum For Digital Economy International Cooperation was held online. Ambassador Francis Chua, Founding Chairman of PSRICC, Honorary President Emeritus of the Philippine Chamber of Commerce and Industry and SRCIC Vice Chairman, delivered the keynote speech of "Jointly Building a Digital China-Asean Free Trade Area" at the Cloud Forum on theDevelopment of Digital Economy in the New Era.


The meeting was co-sponsored by China-Asean Business Council and China-Asean Science and Technology Industry Cooperation Committee, and hosted by Guangxi Enlightenment Science and Technology City Group.


In opening session, Xu Ning-ning, the Executive Directorof China-Asean Business Council, Wang Ji Wu, the Chairman of the Chinese sideof China-Asean Science and Technology Industrial Cooperation Committee, also the Chairman of China Enlightenment Holding Co., LTD, Romagna, Philippine Ambassador to China, Kanbau Ntawan, Lao Ambassador to China, Miao Dan Pei, Myanmar ambassador to China, delivered their speeches. Glenn G. Peñaranda, the Commercial Counselor of the Embassy of the Philippines in China, attended the Cloud Forum.


Francis Chua delivered the following keynoteaddress:


I'm very glad to attend the  "Jointly building the Digital Economy Silk Road and discussing future technological innovation and development" of the Cloud Forum For Digital Economy International Cooperation. On behalf of the PCCI and PSRICC, to the organisersof the forum,  China - Asean Business Council, the China-Asean Industry Cooperation Committee of Science and Technology, and the host, Guangxi Enlightenment Technology City Group, express our heartfelt thanks to you. It is a great honor for me to meet ambassadors from ASEAN countries, leaders of Guangxi Zhuang Autonomous Region, and representatives of Entrepreneurs from China and ASEAN through this network at such an extraordinary time.


This year marks the 45th anniversary of China-Philippines diplomatic ties. In June, the Chinese President Xi Jin Ping, PhilippinePresident Duterte stressed on the phone that, the governments and peoples ofChina and the Philippines have supported each other and fought the epidemic together, reflecting their brotherly friendship. Leaders of the two countrieshave reached consensus to increase friendship and unity between the twocountries, strengthen China's "One Belt And One Road" strategy andalign it with the Philippines' "Build, Build, Build" plan, deepen cooperation in various fields, promote the comprehensive progress was made instrategic cooperative relations. China and the Philippines should take this opportunity to develop the digital economy and promote digital industrialization and digitization of industries.


Today, a large number of new technologies and reform shave brought about a huge impact on our work and life. New technologies that once seemed unimaginable are now common place and playing an increasingly important role in business operations. More and more companies will adopt cloud technology, big data, Internet of Things (IOT) and artificial intelligence (AI) into their core processes and management systems to improve efficiency and competitiveness.


Here's how digital technology will affect us:


Gartner predicts that nearly 184 million connected cars will be produced in the next five years. McKinsey estimates that theimpact of the Internet of Things could reach a staggering $11 trillion by 2025, equivalent to 11% of the world economy. Huawei's Global Industry Vision predicts that by 2025, 77% of the world's population will be connected through100 billion (100 billion) connections. 85% of enterprise applications will be in the cloud. 12% families will have smart home robots. The market is worth hundreds of billions of dollars.


This is just the beginning. The future is a fully connected, super-intelligent world, and these changes will have a huge impacton our work and lives, boosting our economy and prosperity. Asean countriesshould strive to develop the digital economy and focus on building smartcities. To support the digital transformation, ASEAN is developing a"comprehensive Strategy for the Fourth Industrial Revolution" to address the problems brought about by the Fourth Industrial Revolution.


At present, many Companies from China, the Philippinesand other ASEAN countries have adopted the "Digital Silk Road" business platform to make use of cross-border e-commerce. And working to address the challenges posed by the COVID-19 epidemic. Hereby, I would like to share my views with the government leaders and entrepreneurs of China and ASEAN countries.


First, we need to strengthen digital infrastructure and create a digital China-Asean Free Trade Area. This year marks the 10th anniversary of the official launch of the China-Asean Free Trade Area, which is of historic significance. In the first half of this year, the trade volume of China-Asean free Trade Area increased by 5.6%. Today, ASEAN is China's largest trading partner. With the growth of international trade between China and ASEAN countries, the friendly exchanges between the two regions are very close. Digitization of industrial cooperation will become an important link in industrial transformation and upgrading and economic growth between China and ASEAN.


As the Year of China-Asean digital Economy Cooperationand a turning point in China-Asean economic cooperation, it is imperative tobuild a "digital China-Asean Free Trade Area" in 2020. At the same time, the business community of the Philippines has the same aspiration to strengthen cooperation in the digital industry to promote the economic and social development of the Philippines, which is very important to help the Philippines overcome the economic difficulties caused by the epidemic. At present, the majority of ASEAN countries have a large space for the development of digitalindustry and a very broad market. Chinese and ASEAN businessmen should seizethe opportunity of digital economy transformation, realize win-win development,and strive to create a "digital China-Asean Free Trade Area".


Second, we need to strengthen international cooperation and improve the development of digital industries. According to the 2019 forecast report of Temasek and Google, the Digital economy of the Philippines will grow from US $7 billion this year to US $25 billion in 2025, an early three-fold increase. This is the result of the rise of cross-bordere-commerce, which includes shopping platforms such as Shopee, Lazada and Zalora, and ride-hailing services such as Grab. Of the six countries in Southeast Asia, the Philippines has the smallest digital economy with the biggest growth potential.


In fact, the Philippines has entered a "cashless society"and a "mobile-connected society" and is growing at a rapid rate. The epidemic has given a boost to online trading in the Philippines. Over the past few months, as a result of the epidemic, the government has imposed lockdown measures that have restricted people's access to their homes, so that everyone's daily life has shifted to online and mobile modes. When it comes to shopping, people avoid going to supermarkets, malls and other crowded places,and turn to Lazada, Shopee, Facebook and Viber groups to buy daily necessities,or order Food with Food Panda or Grab Food. Payments are also made on online,mobile banking platforms or WeChat, alipay, GCash, Paymaya, etc. Goods are also delivered through Grab, Lalamove, and other delivery services, so the streetsof Manila are filled with express motorcycles, and schools are using Zoom or Google Meet to teach students.


As the epidemic has boosted digital banking across the Asia-Pacific region, customers are opting for mobile and online banking services,leading to more digital transactions and more contactless payments, accordingto S&P Global Ratings. As Chinese technology companies have world-leading technologies in cross-border e-commerce, digital consumption, online payment and other aspects, China will be the object of study for the Philippines and ASEAN countries. Therefore, to strengthen international cooperation with China,from government policies to enterprises' scientific and technological innovation to university personnel training, only through cooperation can we achieve the goal of mutual complementarity and win-win cooperation.


Third, strengthen the exchange of talents. China and ASEAN are two huge markets with a population of nearly 2 billion and the most abundant human resources. In the second half of 2019, China and ASEAN countries exchanged more students than the "Double one hundred thousand" number, marking an unprecedented close of talent exchange and academic cooperation.


Today's forum brings together government leaders, experts, scholars and entrepreneurs from ASEAN countries and China. This is a good opportunity to further strengthen international cooperation between universities, especially in the fields of big data center, artificial intelligence, industrial Internet and Internet of Things. By exchanging students and strengthening scientific research cooperation, ASEAN will become a new field of China's digital economy innovation theory and practice. China will also become the largest exporter of talents and technology in the digital economy industry in ASEAN. Through the international cooperation between universities and universities and between universities and enterprises, China will promote the new economic market and build a "digital China-Asean FreeTrade Area".


The Philippines has a large number of high-quality labor force and has maintained rapid growth in agriculture, service industry and tourism for many years in a row. Among them, agricultural export and tourism, two important industries, are also key areas for international cross-border e-commerce cooperation and promotion of digital tourism services. Here,I would also like to extend an invitation to business leaders from our sister Asean countries and welcome you to the Philippines for cooperation.


Ladies and gentlemen, virus prevention and control measures have become a new global norm. China and ASEAN should actively explore ways to strengthen cooperation in e-commerce, 5G, big data, artificial intelligence and cloud computing. By building the Digital silk Road and the Green Silk Road, we can not only promote economic recovery on the basis of transformation and upgrading, but also achieve high-quality sustainable development for the benefits of our two countries.


Souce: PSRICC official Wechat Account