华商 Chinese Entrepreneur Issue 9 2021

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

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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

Invest Hong Kong supports your business set up and expansion in our city with free, confidential and customised services.

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

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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

Find Us on Social Media

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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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中华脉搏 | C h i n a B e a t

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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C h i n a B e a t | 中华脉搏

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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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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