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2024-12-16 | Beijing

European Chamber Annual Conference 2024

On 10th December, the European Chamber hosted its Annual Conference 2024 in Beijing. As one of the Chamber’s flagship events, it brought together over 160 people from business, academia, think tanks and international organisations. The conference looked back at the pivotal moments of 2024, explored the key drivers for economic growth in the year ahead, and identified where the business opportunities still lie. Carl Hayward, general manager of the European Chamber’s Beijing Chapter, hosted the event.

Jens Eskelund, president of the European Chamber, delivered welcome remarks, telling the audience that it was currently extremely hard to predict the future. He highlighted China’s poor economic data and increasing trade tensions. However, Eskelund said that European companies remain committed to China and that European Union (EU)-China trade has created enormous value for both sides. Later, in a keynote address, he provided perspectives on global trade dynamics and their implications for businesses operating in China.

Jorge Toledo Albiñana, ambassador of the European Union Delegation to China, delivered a keynote speech at the event. Toledo Albiñana talked about the EU’s leadership in 2024 and the priorities of the new European Commission. He also reflected on the current state of the EU-China relationship and underlined some key points of contention, including the increasing lack of a level playing field on trade and investment, and the Chinese position on the Russian invasion of Ukraine. He concluded by saying that 2025 will be the 50th anniversary of the establishment of diplomatic ties between the EU and China, and that both sides should seize the opportunity to make substantial progress in addressing the key issues in the relationship.

Dr. Miao Yanliang, chief strategist and managing director of China International Capital Corporation, delivered a keynote speech on potential structural opportunities in China's economy and shared his insights on challenges, transformations, policies, strengths and investment.

Prof. Liu Qiao, dean of Guanghua School of Management at Peking University, delivered a keynote speech exploring the potential sources of future economic growth. He also delved into the key challenges of China’s economy and explored areas for action.

Panel I: China after the Third Plenum: Stimulus, Real Estate, Deflation and Demand

Panellists shared their perspectives on China after the Third Plenum. They debated the economic impact of fiscal and monetary stimulus measures and the challenges confronting European business in China, emphasising that success in the Chinese market now necessitates a profound understanding of Chinese policymaking and consumer demands.

Panel II: Technology and Innovation: The Race for the Future

The panellists discussed the role of technology and innovation, with one panellist emphasising that the world is at the start of a data explosion. There was general agreement that China could be a tough market, with one panellist describing it as a ‘gym’ for companies. They encouraged companies to stay positive, despite restrictions on foreign companies. It was emphasised that when companies make money in China, they invest in China.

Panel III: 2025 Outlook: Predicting the Unpredictable

Panellists struggled to achieve consensus on what the next 12 months might bring. There was disagreement over the Ukraine war, China’s willingness to engage with the EU and overcapacity. It was pointed out that emerging markets now bring 50 per cent of anti-dumping cases against China. One panellist foresaw both risks and opportunities ahead, and there was some optimism about the new Trump administration and what it might mean for US-China ties.

The European Chamber would like to thank the event sponsors, Merck and BMW.