China Business Summit 2024: Accelerating Momentum

On Monday, May 20, 2024, NZ INC and the Auckland Business Chamber presented the China Business Summit, the premier platform for exploring New Zealand-China economic, commercial, and political relations.

Despite ongoing challenges, New Zealand’s trade with China remains strong. Two-way trade reached nearly NZ$38 billion in the year ending December 2023, and China accounted for nearly 22% of New Zealand’s total goods and services exports last year. The Summit dove into the drivers of this robust partnership, including China’s expanding middle class and its demand for high-quality goods and services.

In this rapidly evolving environment, ‘value capture’ has become a guiding principle for New Zealand businesses operating in China and is key to future success. The 10th China Business Summit presented insights on the complexities of geopolitics and consumer confidence that impacted trade and commerce.

7:10AM: CALL TO ORDER

MC: Tim McCready

7:15AM: WELCOME TO THE 10TH CHINA BUSINESS SUMMIT

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

7:25AM: PRIME MINISTER’S OPENING ADDRESS WITH Q&A

Rt Hon Christopher Luxon, Prime Minister of New Zealand

Christopher Luxon made his first address to the China Business Summit as New Zealand’s prime minister. In his earlier career as CEO of Air New Zealand, the prime minister was foremost among Kiwi business leaders to scope the potential of the Chinese market for New Zealand. Now he is in the Prime Minister’s seat.

Moderator: Fran O’Sullivan, Summit Co-Chair

8:05AM: NAVIGATING TODAY’S CHINA – A TRADE PERSPECTIVE

Hon Todd McClay, Minister for Trade and Agriculture

Todd McClay shared insights from his recent trip to Beijing, Harbin, and Shanghai where he met with Chinese investors and New Zealand companies on the ground in China. He outlined his plans to develop bilateral trade during his time as Minister.

Moderator: Simon Bridges, Chief Executive, Auckland Business Chamber

8:40AM: KEYNOTE ADDRESS – HARNESSING THE POTENTIAL

HE Wang Xiaolong, Ambassador to New Zealand

Ambassador Wang Xiaolong shared his observations on the state and potential of China’s economy, envisaged new opportunities in China-New Zealand practical cooperation, and elaborated on how to promote a mutually beneficial and friendly relationship amidst the fast-evolving international and regional landscape.

Moderator: Simon Bridges, Chief Executive, Auckland Business Chamber

9:15AM: ‘CHINA PLUS’ – DOUBLING NEW ZEALAND’S EXPORTS IN 10 YEARS

The Government set a bold goal to double New Zealand’s exports by value within a decade. Major exporters discussed how to grow with China and also expand their footprints into other fast-growing – but much smaller – markets. The conversation included discussions about a stronger ‘NZ Inc” presence offshore.

Panel:
– Miles Hurrell, Chief Executive, Fonterra
– Dame Therese Walsh, Chair, Air New Zealand
– The panel was joined by Hon Todd McClay
Moderator: Fran O’Sullivan, Summit Co-Chair

9:50AM: THE CHANGING FACE OF THE CHINESE CONSUMER

The influential China Chamber of Commerce in New Zealand presented findings of an in-depth survey of its membership, covering trade, investment, and technology outlooks, and reflections on what is necessary to enhance the bilateral business relationship.

Presenters:
– Jun Qi, CEO, China Construction Bank
– Carlos Li, GM, UnionPay New Zealand & Assistant GM, UnionPay South Pacific Region
– Wing Wang, Senior China Marketing Manager, Good Health
Moderator: Tim McCready, Summit MC

10:30AM: MORNING TEA

11:00AM: KEYNOTE: WHAT’S IN STORE FOR THE CHINESE ECONOMY?

Raymond Yeung, Chief Economist Greater China for ANZ
Moderator: Fran O’Sullivan, Summit Co-Chair

11:30AM: KEYNOTE: HOW CHINA IS NAVIGATING COMPLEX INTERNATIONAL RELATIONS AND THE IMPLICATIONS FOR NEW ZEALAND

Dr. Henry Wang, Founder and President of the Centre for China and Globalization

Discussants:
– Suzannah Jessep, CEO, Asia New Zealand Foundation
– Phil Turner, Former New Zealand Ambassador to South Korea and former President China for Fonterra
Moderator: Simon Bridges, Summit Co-Chair

12:30PM: BUILD YOUR DREAMS: HOW BYD’S INCREDIBLE SUCCESS IS TRANSFORMING THE EV MARKET IN NEW ZEALAND

Warren Willmot took attendees on the journey of BYD – the Chinese company that started as a small battery maker and is now the world’s largest battery electric vehicle maker. Warren discussed battery technologies, new models, future prospects for the car industry, and the outlook for New Zealand’s fleet by the end of the decade.
Presenter: Warren Willmot, BYD New Zealand Manager, Ateco Automotive NZ
Moderator: Tim McCready, Summit MC

12:50PM: LUNCH & NETWORKING

1:50PM: WHAT IT TAKES TO WIN IN OUR LARGEST EXPORT MARKET

Representatives from five Kiwi companies of different sizes and sectors shared their perspectives on Today’s China and the lessons learned from navigating the current environment. Their ‘on the ground’ perceptions provided a vital reality check for fellow New Zealand exporters.

Panel:
– Tessa Davis, Chief Operating Officer of Ora Innovation
– Andy Chen, Deputy Group CEO, CEO of APEC region, Comvita
– Mike Underhill, Chairman of LENZ (a coalition of lobster companies)
– Zoe Li, General Manager of MitoQ (Joining from Shanghai and Guangzhou)
– Ping Hou, General Manager of Greater China, F&P Healthcare
Moderator: Chris Metcalfe, New Zealand Trade Commissioner based in Beijing

3:05PM: LES MILLS: BRINGING THE JOY OF MOVEMENT TO CITIES ALL OVER THE PLANET

Jason Bloom discussed Les Mills’ success in China and revealed details about the upcoming Les Mills Live 2024 fitness festival in Shanghai.
Presenter: Jason Bloom, Chief Financial Officer, Les Mills International
Moderator: Tim McCready, Summit MC

3:25PM: AFTERNOON TEA

3:40PM: TIME FOR CHINA HUB?

Discussion on leveraging New Zealand’s position midway between China and Latin America to attract Chinese tourists and business travellers. The panel discussed strategies as the International Convention Centre prepares to open in Auckland in late 2025.

Panel:
– Lisa Li, CEO, China Travel Service
– Les Morgan, Chief Operating Officer, Hind Management (Sudima Hotel brand in NZ)
– Alistair Crozier, Executive Director, New Zealand China Council
– Carrie Hurihanganui, Chief Executive, Auckland Airport
Moderator: Pam Ford, Director Economic Development, Tātaki Auckland Unlimited

4:25PM: HOW BRAND NZ CAN ASSIST THE GROWTH OF NEW ZEALAND’S EXPORT VALUE IN CHINA

David Downs presented the latest research from China, providing market context and insights into how important sectors for New Zealand exports are perceived.
Presenter: David Downs, CEO, New Zealand Story
Moderator: Tim McCready

4:45PM: REFLECTIONS FROM THE DAY

Summit Co-Chairs Fran O’Sullivan and Simon Bridges

4:50PM: PRIZE DRAW & SUMMIT CLOSE

Prize Draws: BYD, Silver Fern Farms, Air New Zealand with Auckland Business Chamber’s Events Executive Katy Riddell

Summit close Tim McCready