Opening speech of Chairman Ji Xiaonan at CBT100 Forum

Currently, the world has been witnessing big changes that have not been encountered in a century. Meanwhile, China's economic development has been confronted with complex situations, which include the slowdown of the global economy and Sino-US trade frictions. Moreover, the risks and challenges have been intensified. Specifically, downward pressure on the domestic economy has increased, and economic development calls for industrial transformation and upgrading. Confronted with this new environment and its challenges, CBT100 companies and cities are the main forces and main areas for China's economic development. Therefore, CBT100 companies and cities must further seize the opportunities, make progress, take the initiative and take on responsibilities. Meanwhile, they must persist in deepening reforms, modernizing governance systems, acting as leaders in innovation and development by prioritizing technological innovation, which ultimately results in the promotion of innovation-driven development.

In addition, CBT100 companies and cities need to be the leaders in the structural upgrading of the economy, to accelerate their industrial transformation, to actively participate in the construction of the Belt and Road Initiative, to accelerate overseas expansion and development, and to actively cultivate and develop new strategic industries in order to achieve the coordinated development of traditional and emerging industries. In this way, our CBT100 companies can become a powerful cluster of conglomerates of world class. Finally, CBT100 companies must also actively respond to society by fulfilling their social responsibilities, and become outstanding corporate and international citizens that continue to fulfil social responsibilities.

Companies and cities are closely interconnected. That is, cities can grow stronger with the help of companies, and companies can grow more prosperous with the help of cities. CBT100 companies and cities must join forces and develop together to make greater contributions to the revitalisation and continued prosperity of the Chinese economy, and to make greater contributions to achieving the two "hundred-year" goals and the realisation of the Chinese dream of great rejuvenation.

Finally, I wish the 19th CBT100 Company Forum and the fifth CBT100 City Forum huge success, and I wish you all the best of luck. Thank you.

Ji Xiaonan, delivers the opening speech at the CBT 100 Forum held on Dec 7 in Shanghai. [Photo provided to chinadaily.com.cn]