China a potential leader in sustainable growth

Last night, Vice-President Xi Jinping inaugurated the Asia Society's 18th Asian Corporate Conference, "A New Era for Global Business: Sustainable Growth for China and the World." We are particularly grateful that Vice-President Xi took time from his busy schedule during these difficult times following China's recent earthquake. On behalf of the sponsors and participants of the conference, we send deep condolences to the earthquake victims and are committed to raising funds throughout the conference for them.

This is the third time in 18 years that the Asia Society has held its signature two-and-a-half-day business program on the Chinese mainland and it is remarkable how China's relationship to the world has changed during this period.

Looking at the news today, it is hard to imagine a time when all eyes were not focused on China. Be it foreign reserves, a surging stock market, sovereign investments, trade imbalances, currency appreciation, record FDI - a business page is now incomplete without a China story.

China is asserting its position as an engine of regional growth and is rapidly emerging as a global business and diplomatic leader. With its continued capacity for growth, China has the potential to lead the way in promoting a new global era of sustainable business, incorporating environmental and social considerations into growth models and regulating for the future.

As China now moves into a "third wave" of economic growth, in which sustainability is a central tenet of the general growth doctrine, the Tianjin municipality has emerged as an important test site not only for national development, but also for sustainable urban growth internationally.

Since the establishment of the Binhai New Area was written into the 11th Five-Year Plan (2006-10), the area has become the focus of a series of reform initiatives, and the municipality's emergence as a model for future development in China represent an acknowledgment that development must be approached holistically.

Senior government and business leaders from all over Asia and the world are now gathered in Tianjin to explore a new era of sustainable growth for global business at the Asia Society's 18th Asian Corporate Conference. Co-organized with the Tianjin Municipal People's Government and The Wall Street Journal Asia, this conference will illustrate the importance of a holistic approach to development and consider models of sustainable growth, including the development of world-class eco-cities of which Tianjin aspires to be a representative model.

For more than 50 years, the Asia Society has been devoted to strengthening partnerships and deepening understanding among peoples, leaders and institutions of Asia and the United States. Our commitment to providing a three-dimensional understanding of Asian societies across the fields of arts, policy, business and education continues to be a cornerstone of our work.

Staying ahead of the trends, Asia Society's annual Asian Corporate Conference highlights developments in China while examining the cutting-edge issues shaping important trends in Asia's dynamic markets and in the global economy. Since 1989, the conference series has attracted a combined audience of more than 15,000 participants from around the world. This year's conference has attracted nearly 1,200 delegates representing 20 countries.

While not shying away from discussing the potential obstacles for Chinese and global growth models, the overall message to be gained from this year's conference will be one of hope for the region and the world. Yet even at this optimistic venue, it is impossible to forget the recent disaster in Sichuan province.

China is still recovering from the Wenchuan earthquake of May 12, the worst natural disaster to strike the country in over 30 years. As the Asia Society's conference kicks off, the minds and hearts of people all over the globe are with the people of China.

Even in this time of mourning, it is inspiring to note the relief efforts and unwavering commitment of the Chinese people and the Chinese government, who have responded to this disaster quickly, selflessly and effectively.

Vishakha N. Desai is president of the Asia Society

(China Daily 05/29/2008 page21)