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The5thAsiaMattersBusinessSummitCorkExecutiveSummaryDay1:ChinaIrelandTechnologyandInnovationSummit

InpartnershipwithCorkCityCouncil,CorkCountyCouncil,CorkInstituteofTechnology,KPMGandtheChineseIrelandJournal,AsiaMattersheldthe5thAsiaMattersBusinessSummitinCork23&24May2019tocelebrate40yearsofChinaIrelanddiplomaticrelationsandfocusonthekeydriversforfuturegrowth.Day1,kindlyhostedbyCorkInstituteofTechnology,hadafocusonTech,Talent&Innovation.TheTechnology&InnovationSummitfeaturedkeynotespeechesandtwopanelsofexpertspeakerswhosharedtheirknowledgewithover150participantsfromIrelandandChinaincludinghighlevelgovernmentandbusinessdelegationsfromBeijing,ShanghaiandWuxi.

ChinaIrelandTechnologyandInnovationSummit–ExecutiveSummaryOpeningtheSummit,ChairmanofAsiaMatters,AlanDukesthankedsponsors:CorkCityCouncil,CorkCountyCouncil,CITandKPMGfortheirgreatsupportandtheleadersofthethreedelegationsfromChinaforgivingoftheirvaluabletimetovisitCorkandmeetpotentialpartners.Welcomingparticipants,theChairmanofCIT,BobSavagehighlightedCIT’slonghistoryofeducation,particularlyintechnologyandengineering,notingthatCITproducesthelargestnumberofengineeringgraduatesinIreland.

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InhiskeyaddressonpartneringwithChina,Mr.SongJingwu,VicePresident,TheChinesePeople'sAssociationforFriendshipwithForeignCountrieshighlightedbusinessopportunitiesforworldclassIrishcompanies,particularlyinthefieldsofAIandvirtualreality–speakingofChina’shopesto:

“JointlyworkwithIrelandtoseizetheopportunitiesintheareasofdigitalization,networktechandAIdevelopment”explainingthatthroughtheMOUwithAsiaMatters,CPAFFC“looksforwardtomore

cooperationatthelocalleveltopromoteChina-Irelandrelationstoanewlevel.”

RespondingtoVicePresidentSong,AnnDoherty,ChiefExecutiveofCorkCityCouncilthankedMr.SongforhisdeepandpenetratinganalysisonpartneringwithChinaandoutlinedCorkCity’shighlysuccessfulinter-cityrelationswithsixsistercities,includingastrongpartnershipwithShanghai.

ExpertPanelonChineseCompaniesExpandingintoIrelandandEuropeChairMartinMurray,ExecutiveDirectorAsiaMatterswelcomedpanelistsandemphasizedAsiaMatters’beliefthatdevelopingrelationshipsoftrustwiththerightstrategicpartnersisakeydriverofsuccessforpartneringwithChinainbothoutwardandinwardinvestment.KeyFindingsTherateofChineseFDIhasacceleratedinthelast3yearsparticularlywithinAsiaPacific.AfricaisalsoperformingwellwiththeEUattractingmoreChineseFDIthantheUS.IrelandremainsheavilydependentontheUS&UKforFDIbuthaswonsignificantChineseinvestmentrecentlyfromChinesebanksandthegamechangingWuxiinvestment.Ireland’srealopportunityforgrowthisnow–forChinesecompanieslookingforEuropeanaccess,theUKisnolongerfirstchoice,givenBrexitinstability–Irelandhasmuchtoofferasasafeharborlocation.TheFinancialServicesclusterinIreland,positionedasagatewaytoEurope,isagreatplatformonwhichtobuildasproofofconceptforfutureChineseInvestors.IrelandalsohasworldclassR&D–thisisakeystrengthtoattractincreasedlevelsofChineseFDI,underpinningthepartnershipswithChinesecompanies.Buildingforthefuture,keystakeholdersinIrelandarecomingtogethertobuildaframeworktodrivemutualvalue:akeyexampleistheCyberIrelandsecuritytalentcluster,basedinCITwhichbringstogetherindustry,government,academicandplace.Thiswillbereplicatedinotherindustries.ThereissignificantcrossoverinkeyareasforChinaandIrelandtobuildpartnershipsincluding:

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Automation,FinancialServices,Robotics&AdvancedManufacturingThesuccessoftheclustermodelisprovedbythegamechangingWuxiinvestment.Wuxiwillinvest€325millionbuildingthefactoryofthefutureinDundalkwhichwillbethefirstWuximanufacturingfacilityoutsideofChina,alandmarkfortheIrishbiopharmasector.TalentisakeyfactorindecisionmakingforChineseinvestors–theskillspipelinemustmeettheneedsoffutureinvestors,highlightingthekeyroleofthirdlevelinstitutions.Corkhasaproventrackrecordinthisregard.TalentisthebiggestnaturalresourceIrelandhas–wehaveayoungpopulation–forthosecomingtostudyandworkinIrelandfromChina,Irelandisagoodplacetobuildagreatcareer,safeenvironment,withemploymentopportunitiesbymultinationalcompanieswithaglobalfootprint.Mr.FuAiming,Director,ForeignAffairsOffice,Minhang,ShanghaigaveanexcellentpresentationonBuildingaHiTechIntelligentManufacturingBelt&PlanninginChinaandplanninga“FutureAITown”.ExpertPanelonCompaniesScalingintoChinaandAsiaChairDrOrlaFlynn,VicePresidentofExternalRelationsCIT,acknowledgedthatMr.FuAiming’spresentationcreatedaninspiringvisionforfutureopportunitiesforworldclasstech-ledIrishbusinesses.KeyFindingsIrishexportgrowthtoChinaisbeingdrivenbyinnovativesoftware,servicesandtech.ToscaleupinChinabusinessesneedtobeChinaready–understandingyoucan’troleoutagenericmarketingplanforChina.StateagenciesandexperteventsfromAsiaMattersarehighlyvaluable.BuildingrelationshipsoftrustwiththerightpartnersinChinawillhelpwinbusinessinthelongtermStrategicrealismisrequiredtoentertheChinesemarket.ThescaleinChinaisenormous(260millioninEasternChinaalone),bestpracticeistoselect3citiesandunderstandnicheopportunity.Chineselanguagecompetencyisnecessary–alongwithculturalunderstandingforexamplecommunicatingthroughWeChatgiveneaseofuseforChinesepartners.Speedmatters–thespeedofchangeinChinaisrapidandopportunitiesneedtobeseizedquickly.ConsumertrustneedstobeprotectedbykeepingcontrolofbusinessinterestsinChinaandensuringdistributionchannelsarerobust.UnderstandofEcommercedevelopmentinChinaisvital–Chinaisnow15yearsaheadofUS&UKWhichcreatesopportunitiesforWesterncompanieswhotakeadvantageofthis.TheChinesehaveembracedtechnology&Innovationtoanextraordinarylevelyetstillvaluepersonalrelationships–puttingthetwotogetherisvital.3rdleveleducationopportunitythereare700,000Chinesestudentsseekingtostudyinternationally–postBrexitIrelandishighlyattractivelocation.StreamliningthevisaprocesswillmakeiteasierforChinesepeopletoselectandcometoIrelandimprovingourlocationcompetitiveness–therearestillstructuralissuesregardinglongertermvisaswhichneedsacollectiveapproachtosolve.TheTeamIrelandapproachworks,bringingtogetherDFAT,EI,IDA,BordBia,TourismIrelandandorganisationssuchasAsiaMattersworkingtogetherforthegreatergood.TheSummitconcludedwithapresentationfromMr.ZhouMinwei,ChairmanofWuxiMunicipalCommitteeCPPCConopportunitiestopartnerwithWuxi,theNationalIoTBaseforChinaForMembershipqueries,pleasecontact: ForPartnershipqueries,pleasecontact: MartinMurray SamanthaHobbsExecutiveDirector [email protected] [email protected]

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ProgrammeThe5thAsiaMattersBusinessSummitCorkChinaIrelandTechnologyandInnovationSummitDay1CorkInstituteofTechnologyThursday23May2019

08.30 Registration&Networking09.15 WelcomeRemarks&ChinaContext

AlanDukes,ChairmanAsiaMattersWelcomeRemarks&IrelandContextBobSavage,ChairmanCIT&VPDellEMCCentresofExcellenceEMEA

09.30 PartneringwithChina-KeyaddressbyMr.SongJingwu,VicePresident,TheChinesePeople'sAssociationforFriendshipwithForeignCountries

withresponsefromAnnDoherty,ChiefExecutive,CorkCityCouncil10.00 ExpertPanelonChineseCompaniesExpandingintoIrelandandEurope ChairedbyMartinMurray,ExecutiveDirectorAsiaMatters RobertPasleyCTOWavteqFDIIntelligence DenisCollins,CEOSmarterDynamixandChairmanRegional DevelopmentCommittee-BoardDirectorIDAIreland GeneRussell,DirectorofEngineering,WuXiBiologic LornaConn,ChiefFinancialOfficer,CPLResourcesplc. BarrieO’Connell,PartnerKPMG11.15 Coffeebreak11.45 SouthShanghai-BuildingaHiTechIntelligentManufacturingBelt&Planning “FutureAITown“Mr.FuAiming,Director,ForeignAffairsOffice,Minhang,Shanghai 12.00 ExpertPanelonCompaniesScalingintoChinaandAsia ChairedbyDr.OrlaFlynn,VicePresidentforExternalAffairsCIT ThereseHealy,ConsulGeneralofIrelandinShanghai

StephenMellor,CTOIndustrialInternetConsortiumUSA MartinCorkery,RegionalDirector,EnterpriseIreland 13.00 WorkingwithWuxi,NationalIoTbaseforChina Mr.ZhouMinwei,ChairmanofWuxiMunicipalCommitteeCPPCC

ClosingremarksAlanDukes,ChairmanAsiaMatters+networkinglunch