China Business Summit 2022: A Balancing Act

A Balancing Act

On Monday, August 1, 2022 – NZINC. and the Auckland Business Chamber presented the China Business Summit: A Balancing Act. It explored a business and political perspective on the landscape for New Zealand businesses in China and put forward strategies for navigating through disruptive times.

It is notable that New Zealand’s trade with China and Chinese investment in New Zealand bolstered the economy through two periods of major disruption: the Global Financial Crisis and the Covid pandemic. Despite global trade disruption, goods exports from New Zealand to China increased by an impressive 19.8% in 2021, taking the bilateral trade relationship to over $37b in goods and services and accounting for 33% of New Zealand’s total goods exports.

However, this growth in two-way trade sits against a background of heightened concerns domestically on China and urgings from Government to New Zealand firms to adopt a “China-and” strategy and diversify into more markets.

The eighth China Business Summit provided critical business and political insight on changes, challenges and opportunities in the relationship between our two countries, and what current trends could mean for New Zealand, China and the world.

The 2022 Summit included

  • Prime Minister Jacinda Ardern, Trade Minister Damien O’Connor, Ambassador Wang Xiaolong and a strong array of insightful speakers headlined the conference.
  • Among the international speakers were Raymond Yeung, Chief Economist Greater China for ANZ; Pulitzer prize-winning journalist Andrew Browne, who recently joined Brunswick Group – the world’s leading critical issues advisory firm after a career leading China coverage for the Wall Street Journal and as Editorial Director of Bloomberg’s New Economy Forum; and Allan Gyngell, the National President of the Australian Institute of International Affairs.
  • The Summit heard from leading NZ-based CEOs from the agribusiness sector on their China strategies against a background of political urgings for New Zealand businesses to pursue a more diversified approach internationally.
  • We heard from New Zealand business leaders “on the ground” in China on how they are navigating through a complex environment where Covid has led to lengthy lockdowns and supply chains have been subject to disruption.
  • “Opening Up” remains the goal for both New Zealand and ultimately China. A panel from the tourism and education sectors – which have been hammered by the Covid pandemic – talked through how they plan to resuscitate and reinvent their industries as immigration restrictions ease.

7.05AM – CALL TO ORDER & WHAKATAU

MC: Tim McCready

Rēnata Blair, Ngāti Whātua Ōrākei

7.15AM – WELCOME

Summit Co-Chair: Fran O’Sullivan, Managing Director, NZ INC.

7.20AM – PRIME MINISTER KEYNOTE WITH Q&A

Rt Hon Jacinda Ardern, Prime Minister of New Zealand

In the 50th year of our diplomatic relations with China, the Prime Minister spoke about the history and evolution of New Zealand’s relationship with China. This covered the extent of our bilateral links, and how we aim to maintain these in today’s complex world. She also outlined how she sees the relationship continuing to evolve in the future.

Moderator: Fran O’Sullivan, Summit co-chair

8.00AM – KEYNOTE ADDRESS WITH Q&A

Hon Damien O’Connor, Minister for Trade and Export Growth

Minister Damien O’Connor’s remarks focused on New Zealand’s developing trade and economic relationship with China which has continued to thrive in difficult times.

Moderator: Michael Barnett, Summit co-chair

8.30AM – KEYNOTE ADDRESS

HE Wang Xiaolong, Ambassador to New Zealand

9.00AM – KEYNOTE ADDRESSES: What should business look out for with a changing China?

Raymond Yeung, Chief Economist Greater China for ANZ and Pulitzer prize-winning journalist Andrew Browne, who recently joined Brunswick Group – the world’s leading critical issues advisory firm after a career leading China coverage for the Wall Street Journal and as Editorial Director of Bloomberg’s New Economy Forum.

Moderator: Fran O’Sullivan, Summit co-chair

9.45AM – KEYNOTE ADDRESS

Representing the China Chamber of Commerce in New Zealand, Wang Yunfeng spoke to the goals of the chamber which this year celebrates its 20th anniversary.

10.30AM – VIEW FROM THE TOP

The landscape for business is fast-changing as Governments focus on reinvigorating their respective economic recoveries as they move toward a “Beyond Covid” approach. This at a time when inflationary headwinds, supply chain crunches and the Ukraine crisis add additional complications. This high level business panel unpacked the environment and gave their readout on where we are and what lies ahead.

  • Miles Hurrell, Chief Executive, Fonterra
  • Dan Mathieson, Chief Executive Officer, Zespri
  • Ray Smith, Chief Executive Ministry of Primary Industries
  • Nicola Shadbolt, Professor in Farm & Agribusiness Management, Massey University

Moderator: Fran O’Sullivan, Summit co-chair

11.30AM – KEYNOTE ADDRESS: Navigating the future with a rising China

Allan Gyngell, National President, Australian Institute of International Affairs

Discussants

  • Rt Hon Helen Clark, Former New Zealand Prime Minister
  • John McKinnon, Chair, New Zealand China Council
  • Simon Draper, Executive Director, New Zealand Asia Foundation

Session chair: Chris Seed, Chief Executive, Ministry of Foreign Affairs and Trade

1.45PM – CREATIVE INDUSTRY COLLABORATION 

New Zealand’s gaming industry is set to be a $1 billion industry by 2025. Last year, China’s gaming market became the largest worldwide. This panel discussed the rapidly changing industry, and how New Zealand can tap into the opportunities the market offers.

  • Allan Xia, artist, game developer and storyteller
  • Christine Li, Co-founder Windforce Games China; CEO Eudora Investmnet

Moderator: Pam Ford, Director Investment and Industry, Tātaki Auckland Unlimited

2.15PM – VIEW FROM ‘ON THE GROUND’ IN SHANGHAI

10.15am Shanghai time

NZ companies based in China are navigating a complex environment. Keeping pace in a Chinese market which remains fast-changing irrespective of the pressure that repeated Covid lockdowns – particularly in Shanghai – and supply chain issues have wrought requires a strong focus on brand and smart marketing strategies.

  • Elizabeth Reid, Chair, NZ Business Roundtable in China and China Country Manager, Synlait Milk
  • David Boyle, CEO, Primary Collaboration New Zealand
  • Tara Tan, CEO, Grin Natural Products
  • Lawrence Wang, CEO, Vista China

This panel will be hosted by Andrew White, Regional Director for Greater China at New Zealand Trade and Enterprise (NZTE) based in Shanghai.

3.15PM – TAKING PIC’S PEANUT BUTTER TO CHINA

Daniel Wang shared lessons from Pic’s successful journey into China, including its digital marketing strategy and ‘Made for China’ new product development.

3.45PM – OPENING UP

“Opening Up” remains the goal for both New Zealand and ultimately China. A panel from the tourism and education sectors – which have been hammered by the Covid pandemic – talked through how they plan to resuscitate and reinvent their industries.

  • Erik Lithander, Deputy Vice-Chancellor, University of Auckland
  • Jan Thomas, Vice Chancellor, Massey University
  • Hoki-mai Chong, Chief Advisor, NZ Māori Tourism
  • Scott Carr, General Manager, Networks, Air New Zealand
  • Lisa Li, Managing Director, China Travel Service (NZ)

Moderator: Tim McCready

4.45PM – REFLECTIONS

Hon Gerry Brownlee, National Foreign Affairs Spokesman in conversation with Summit co-chair Michael Barnett

5.00PM – SUMMIT SUMMARY 

Summit Co-Chairs Michael Barnett and Fran O’Sullivan

 

PRIZE DRAW & SUMMIT CLOSE

Prize draw courtesy of Air New Zealand

Air New Zealand’s General Manager, Asia, Jonathan Zhang with Auckland Business Chamber’s Live and Digital events coordinator Katy Riddell

Summit close Tim McCready