ISSUE 9
CHINESE ENTREPRENEUR
03 专访辜健聪 Interview with Ken Koh
CHI N E S E ENTREPR E N E U R
14 疫情持续 娱乐业者转型求存 Entertainment Industry Embarks on Transformation for Survival in the Ongoing COVID-19 Pandemic
| ISSUE 9 SCCCI 2021-9 Cover-1.indd 3
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In Hong Kong, your business has the perfect canvas to connect to all opportunities around the world, against a backdrop of unrivalled advantages: ■ Strategic location ■ Advanced infrastructure ■ World-class talent ■ Simple and low tax regime ■ Range of financing options ■ Convenient access to vast markets in the region
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Get in touch now at investhk.gov.hk
Where Business Goes to Grow Singapore office Melvin Lee (65) 6330 9338 melvin_lee@hketosin.gov.hk
SCCCI 2021-9 President Note.indd 2
Hong Kong office 24/F, Fairmont House, 8 Cotton Tree Drive, Central, Hong Kong | CHINESE ENTREPRENEUR 华商3107 (852) 1000 enq@investhk.gov.hk
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16/03/2021 12:54
华商 | C H I N E S E E N T R E P R E N E U R
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热点专题 | Fo c u s
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中华脉搏 | C h i n a B e a t
HOW CHINA AND ASEAN CAN DEEPEN DIGITAL ECONOMY PARTNERSHIP With the conclusion of the 1st ASEAN Digital Ministers Meeting (ADGMIN) last month and the series of digital policies introduced, ASEAN is ready to move forward on building an integrated digital economy. Even as ASEAN aims to become an important player in the digital global value chain, there are areas where China and ASEAN can work together to achieve a win-win situation. Professor Zhai Kun of Peking University and Yuan Ruichen, member of the research group of the BRI Big Data Innovation Experimental Project, suggest cooperation in areas such as building smart cities, cybersecurity and digital governance.
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ZHAI KUN
YUAN RUICHEN
Professor School of International Studies, Peking University
Researcher China Going Global; member, BRI Big Data Innovation Application Alliance
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C h i n a B e a t | 中华脉搏
Downtown of Jakarta.
A
SEAN held its 1st ASEAN Digital Ministers Meeting (ADGMIN) via video conference on 21-22 January 2021, introducing a series of digital policies at the meeting. This indicates that the development of ASEAN’s digital economy will be comprehensively improved, and by extension provide valuable opportunities for China to deepen bilateral digital economy cooperation with the ASEAN countries.
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RIGOROUS DIGITAL POLICIES INTRODUCED ASEAN digital ministers launched the ASEAN Digital Masterplan 2025 (ADM 2025) as a guide for the development of ASEAN’s digital economy in the next five years. The masterplan states that ASEAN aims to be a “leading digital community and economic bloc, powered by secure and transformative digital services, technologies, and ecosystem”, and undergirded by cybersecurity to foster a trusted and reliable digital space. To achieve that vision, ADM 2025 has specified eight desirable outcomes to be achieved in the next five years, with multiple enabling actions elaborated on for each outcome. Timetables have been set based on the ranking of the importance of these actions. A special project management team would also supervise and implement these actions. The ASEAN ministers had also approved the new Data Management Framework (DMF) and Model Contractual Clauses for Cross Border Data Flows (MCCs), which are the implementation mechanisms of the initiatives from the 2018 ASEAN Framework on Digital Data Governance. The two documents can help companies reduce the cost of negotiations and compliance while providing adequate protection for cross-border personal data flows. The DMF provides step-by-step guidance for companies to improve their data governance structure, risk management, and safeguard measures. It helps companies establish an efficient data lifecycle management system. The MCCs provide template terms and conditions for companies to formulate cross-border data transmission contracts, through clarifying important definitions and the obligations of both data exporters and receivers. The MCCs are for voluntary adoption by companies.
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The recent series of digital policies issued by ASEAN include not only the top-level design for the development of the digital economy but also specific implementation measures as well as guidelines for digital governance.
Mobile e-payment in Vietnam.
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ASEAN’S DIGITAL ECONOMY IS ENTERING THE FAST LANE
Customers can enjoy coffee while waiting for their turn in Timo Hangout, a digital bank and hangout café in Ho Chi Minh City, Vietnam.
Through digital economy cooperation with China, which has a complete industry, a huge market, and a leading digital ecosystem, ASEAN is expected to become an important area of the global value chain, driving the East Asian value chain to become the growth pole of the world economy.
The recent series of digital policies issued by ASEAN include not only the top-level design for the development of the digital economy but also specific implementation measures as well as guidelines for digital governance. They will improve the digital competitiveness of the ASEAN region and have an impact on competition and cooperation within the digital ecosystem in East Asia and the globe. ASEAN’s digital economy was at the introductory phase before and is right now entering its fast lane. With the rapid development of cutting-edge technologies such as artificial intelligence, cloud computing, the Internet of Things (IoT), and blockchain, a new round of technological competition is in full swing. Accelerating the use of digital technologies to promote economic recovery in the post-epidemic period has become an urgent reality. At the same time, issues such as inclusive growth, sustainable development, privacy and security protection related to the digital economy have also attracted the attention of the international community. These factors have driven ASEAN to further improve its digital economy development framework, to shift gears and hit the accelerator. ASEAN is dedicated to building a highly competitive regional digital market. The masterplan includes not only traditional terms such as improving digital infrastructure, popularising e-government, and promoting industrial digitisation, but also emerging issues such as antitrust and anti-unfair competition, reducing carbon emissions, and enhancing development inclusiveness. More importantly, ASEAN intends to establish an integrated digital market by reducing barriers to cross-border data
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中华脉搏 | C h i n a B e a t
ASEAN also intends to reshape its centrality amid digital competition among big powers.
flow, implementing joint supervision, unifying technical standards, and cultivating regionallevel telecom enterprises. These will greatly facilitate the free flow of digital production factors in the region and build a highly competitive integrated digital market. ASEAN will become an important region in the global value chain. In the era of the digital economy, the main factors affecting the layout of value chains are shifting from labour costs, natural resources, technology, and market to digital technology, capital, market, and data volume. ASEAN is now developing its digital advantages while continuing to leverage its traditional factor endowments. Through digital
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economy cooperation with China, which has a complete industry, a huge market, and a leading digital ecosystem, ASEAN is expected to become an important area of the global value chain, driving the East Asian value chain to become the growth pole of the world economy. As ASEAN continues to improve its digital governance framework, the DMF and MCCs will promote the coordination of data management and cross-border data flow standards across the ASEAN region. It will help ASEAN establish a transparent, credible, and responsible digital business environment, which serves as a foundation for the future standardisation of global data flows. ASEAN also intends to reshape its centrality amid digital competition among big powers. Cross-border digital cooperation is becoming the focus of big powers. The reasons for ASEAN to launch the masterplan at this time is threefold. The first is to bridge the internal digital divide and resolve differences to enhance ASEAN’s overall leadership in the digital field. The second is to take advantage of its huge data volume and follow the example of the EU to build a single data market or even a relatively closed digital area. It will help ASEAN increase its bargaining chip in foreign negotiations. The third is to increase ASEAN’s strategic value to both China and the US by promoting its internal digital interconnection, and to avoid the pressure of taking sides.
DEEPENING CHINA-ASEAN DIGITAL ECONOMY COOPERATION The successful implementation of ASEAN’s digital policies is inseparable from China’s support on technology, data, capital, and intellect. It is time to enrich the connotation of the China-ASEAN digital economy partnership.
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C h i n a B e a t | 中华脉搏
First, to deepen market-oriented cooperation in the digital industry. The signing of the Regional Comprehensive Economic Partnership (RCEP) and the adoption of the Initiative on Building China-ASEAN Partnership on Digital Economy has opened up a broad space for bilateral cooperation in the digital industry. China should adhere to the principles of corporate priority, market orientation, and government guidance, to encourage Chinese digital business to invest in ASEAN’s new infrastructure construction, e-commerce, digital finance, and other related areas. Second, to promote technology-driven cooperation in smart cities. Smart cities are important testbeds of China-ASEAN digital economy cooperation. Cities with developed digital economies in southern China can explore oneto-one cooperation with the pilot cities listed in ASEAN Smart Cities Network. The cooperation will build a platform for leading Chinese companies such as Huawei, ZTE, and China Mobile to leverage their technological advantages. Third, to consolidate policy-guided cybersecurity cooperation. Cybersecurity is likely to be the leading field and important support
China and ASEAN should establish a multi-level cybersecurity cooperation mechanism focusing on building security capacity, laying a foundation for future construction of a regional governance system.
The ASEAN-China Digital Economy Industry Forum was held in Beijing on 23 Nov 2019.
for China-ASEAN digital economy cooperation. China and ASEAN should establish a multilevel cybersecurity cooperation mechanism focusing on building security capacity, laying a foundation for future construction of a regional governance system. Fourth, to facilitate experience-supported digital rule-making cooperation. The game of international rules on digital governance, centered on cross-border data flow, digital taxes, and intellectual property protection, is intensifying. China can share its concept of digital governance and the innovative regulatory experience with ASEAN, to lead the overseas practice of the principle of extensive consultation, joint contribution, and shared benefits.
www.thinkchina.sg This article was first published in ThinkChina on 18 February 2021. SCCCI collaborates with ThinkChina to cross-share content.
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商海记忆 | Re c o l l e c t i o n s
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W E L C O M E A B OA R D ( N o v e m b e r ’ 2 0 - F e b r u a r y ’ 21 ) Member Company
Business Representative
Designation
Business Nature
ACTECO HOLDING PTE LTD
MR
CHONG CHEN EE
Director
Wholesale & Retail Trade
ADVENZ PTE LTD
MS
JASLIN LAU
Director / Managing Partner
Professional, Business & Technical Services
ALCHEMY CONSTRUCTION PTE LTD
MR
TEW YANG YI
Business Development Manager
Construction
ALCON CONSTRUCTION AND ENGINEERING PTE LTD
MR
YANG XIAN DA
Business Development Manager
Construction
AMTRONIC PTE LTD
MR
KWONG PENG MENG
Vice-General Manager
Construction
AQUATECH PRODUCTS AND SERVICES PTE LTD
MR
MARCUS SOO
Manager/Shareholder
Construction
C & W ELECTRONICS PTE LTD
MR
EUGENE SNG
Managing Partner
Manufacturing
CHIA PEI YIN, SHARON
MS
SHARON CHIA
Associate Financial Consultant
Finance & Insurance
CHUA GEK SAN
MS
CHUA GEK SAN
Branch Manager
Finance & Insurance
CMIA CAPITAL PARTNERS PTE LTD
MR
LEE CHONG MIN
Managing Partner
Finance & Insurance
DUCTILE PTE LTD
MR
CHEOK KAI WEEI
Director
Wholesale & Retail Trade
DUOTECH PTE LTD
MS
SANDY ZHAO
Senior HR Manager
Professional, Business & Technical Services
EBUY PTE LTD
MR
HUI XUAN
Chief Executive Officer
Manufacturing
ELIANA RIWANTO
MS
ELIANA RIWANTO
Head of Business Administration & HR
Construction
GOSSTECH PTE LTD
MR
MO GUO PIAO
Managing Director
Others
HL BANK
MS
NG WEE LEE
Chief Executive
Finance & Insurance
HUA YU TRANSFER PTE LTD
MS
DIWU LIZI
General Manager
Wholesale & Retail Trade
IMAGES IN MOTION PTE LTD
MR
ONG YONG BENG
Chief Executive Officer
Others
LHN GROUP PTE LTD
MR
LIM LUNG TIENG
Group Managing Director
Others
LIVINGUARD ASIA PTE LTD
MR
KUE CHIN WEI
Vice-President
Health & Social Services
LOW CHER SENG
MR
KELVIN LOW
Director
Business & Technical services
M-DAQ PTE. LTD.
MR
RICHARD KOH
Chief Executive Officer
Others
MAHA CHEMICALS (ASIA) PTE LTD
MDM
TAN SEOW HOON
Executive Chairman
Wholesale & Retail Trade
MARSHA ROSE FOLKOFF
MS
MARSHA ROSE FOLKOFF
Student
Student
NATURA BIOTECHNOLOGIES PTE LTD
MR
KOH PENG JEK
Director
Health & Social Services
NG BOON GAN
MR
NG BOON GAN
Senior Legal Associate
Professional, Business & Technical Services
OTECH (OTSUKA TECHNOLOGY) PTE LTD
MR
LIONEL OTSUKA
Founder
Information & Communications
PEAK OCEAN PTE LTD
MR
JEROME GOH
Director
Professional, Business & Technical Services
POH LEE HWANG, NIXON
MR
NIXON POH
Business Development Manager
Wholesale & Retail Trade
QURIOUS CONSULTING PTE LTD
MR
SIMON SIAH
Managing Director
Professional, Business & Technical Services
RONGSHENG PETROCHEMICAL (SINGAPORE) PTE LTD
MR
MENG FANQIU
Managing Director
Others
SEALED NETWORK PTE LTD
MR
BENJAMIN LEE
Chief Executive Officer & Co-Founder
Information & Communications
SINGHOT LTD
MR
YIN QINGSONG
Director
Information & Communications
TAN MAY LING
MDM
TAN MAY LING
Promoter
Others
UNITED OVERSEAS TRADE PTE LTD
MR
TAN AH MEE
Director
Others
WANG BO PTE LTD
MR
HUANG CHUANGYOU
Director
Education
WANG XIAOJUAN
MS
WANG XIAOJUAN
Director
Manufacturing
WEE YU KENG, JUSTIN
MR
JUSTIN WEE
Data Analytics Control Officer
Business & Technical services
WILLY LIM
MR
WILLY LIM
Technology Architect
Others
WONG YUNG XIANG,BRANDON
MR
BRANDON WONG
Student
Student
YEOW HON MING, JULIAN
MR
JULIAN YEOW
Managing Director
Others
ZHANG YI
MS
ZHANG YI
Private banker
Finance & Insurance
ZHUO WEN PTE LTD
MDM
QU YAN
Director
Food & Beverage Services
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华商 | C H I N E S E E N T R E P R E N E U R
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