Thursday , December 13 2018

Adnoc to participate in ‘new economy forum’ in China on Nov 6

Beijing / WAM

Bloomberg and the China Center for International Economic Exchanges (CCIEE) on Tuesday announced the New Economy Forum will convene in Beijing, China, on November 6-8, with Adnoc and the Public Investment Fund of Saudi Arabia, being among the Forum’s founding members, to participate.
The forum will stimulate a frank conversation about the shifts in the global economy and the risks and opportunities created by a world in transition that is increasingly led by China and India, as well as the rising powers in Africa, the Middle East and Latin America.
Hosted by Michael R. Bloomberg, Founder of Bloomberg LP and Bloomberg Philanthropies, and Three-Term Mayor of New York City, in partnership with CCIEE, the Forum will bring together a group of 400 preeminent world and business leaders and experts. Advisory Board members include former US Secretary of State and National Security Advisor Dr. Henry A. Kissinger, who serves as Honorary Chair, along with former U.S. Treasury Secretary and Paulson Institute Chairman Henry M. Paulson, Jr. and Zeng Peiyan, Former Vice Premier of the State Council, PRC, and Chairman of CCIEE, as co-Chairs.
“The global economy stands at a historic turning point. New economic powers like China, India, Africa, the Middle East and Latin America are increasingly playing a more important role in shaping global affairs,” said Michael R. Bloomberg. “Now more than ever, we need a new convening platform to bring world leaders across the public and private sectors together to assess the risks and opportunities created by the emerging global order. The New Economy Forum will promote collaboration among participants to address the greatest challenges facing the planet, among them climate change, inequality and social disruption created by new technologies.”
Zeng Peiyan said, “At present, signs of a global economic recovery are becoming increasingly apparent. International trade and investment are emerging from decline, the growth rates of emerging markets and economies are accelerating, and a new round of scientific and technological revolution represented by a new generation of digital information technology is poised to take off. The world economy is entering a new growth cycle. This critical period is just the right time for political and business leaders from around the world to gather at the New Economy Forum, to take part in in-depth exchange, form consensus and propose innovative ideas.”
“One of the fundamental challenges in the world today is for China and the United States to understand the direction in which the other is going, and to make this compatible with each other’s objectives,” said Dr. Henry Kissinger. “An understanding between China and the United States can provide a framework of peace and progress, whereas a failure of that relationship will divide the world. That’s one of the reasons I’m supporting my good friend Mike Bloomberg in this effort to create a forum to talk to each other in a way that will bring our different interests in harmony with one another.”
“The world needs to ramp up its transition to a more resilient and sustainable global economy that rises to today’s challenges, from trade and climate change to technology and urbanization. Doing so requires the kind of high-level discourse among global leaders that the New Economy Forum will provide. I’m pleased to be a part of this important gathering, which will give China, in particular, the opportunity to highlight its efforts to scale green financing innovations that can serve as models for the rest of the world,” said Henry M. Paulson, Jr.
The New Economy Forum was established with the support of eleven Founding Partners and their leaders. Participating in key conversations at the Forum will be Members of the Founding Partners’ leadership, including Dr. Sultan bin Ahmad Sultan Al Jaber, Minister of State and CEO of ADNOC; Chairman of the Board, President and CEO 3M Company Inge G. Thulin; Dangote Group CEO Aliko Dangote; ExxonMobil Chairman and CEO Darren W. Woods; FedEx Chairman and CEO Frederick W. Smith; HSBC Group Chief Executive John M. Flint; Hyundai Motor Company Vice Chairman Euisun Chung; Mastercard President and CEO Ajay Banga; Microsoft CEO Satya Nadella; Public Investment Fund of Saudi Arabia Managing Director Yasir Al-Rumayyan; and SoftBank Group Chairman and CEO Masayoshi Son.

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