CONTENTS

01
PUBLISHER: CEIBSPRODUCER: Wang HongEDITOR-IN-CHIEF: Nanyin Fay
CONSULTANT: Du QianEDITORS: Michael Thede, Darren Yue, Effy He,
Thalia Jiang, Cameron Wilson, Hana Zhang,
Bessie Qian, Esther Tian, and Yiwan Wang
REVISIONS: Si Qi (Chinese)
ART EDITORS: Mickey Zhou and Saya Wang @Snap Printing
CONTACT US:WEBSITE: www.ceibs.edu
TEL: +86-21-28905494
CHINA EUROPE INTERNATIONAL
BUSINESS SCHOOLSHANGHAI CAMPUS
699 Hongfeng Road, Pudong
Shanghai 201206, P.R.C.
Tel: +86-21-28905890
BEIJING CAMPUS
Building 20, Zhongguancun Software Park
8 Dongbeiwang West Road, Haidian District
Beijing,100193, China
Tel: +86-10-82966600
SHENZHEN CAMPUS
Suite 10A, Taihua Wutong Industrial Park
Gushu Development Zone
Shenzhen, 518126, P.R.C.
Tel: +86-755-36995111
ZURICH CAMPUS
Zurich Institute of Business Education
Hirsackerstrasse 46
P.O. Box, CH-8810
Horgen, Switzerland
Tel: +41 44 728 99 44
ACCRA CAMPUS
5 Monrovia Road
East Legon
Accra, Ghana
Tel: +233 544 315 238

FROM THE PRESIDENT
02

Wang Hong: Building on two decades of achievements to set sail on a new voyage

COVER STORY
04

Celebrating 20 Years: CEIBS Shenzhen and the Greater Bay Area

06

CEIBS Shenzhen Campus Milestones: A 20-Year Journey

10

Shenzhen forum explores innovation and talent development in Greater Bay Area

12

Twenty years on: CEIBS Shenzhen sets out on a new journey14

Hobbs Liu: Dedication to entrepreneurship for 20 years

17

Brian Kong: A two-decade trek as the first staff at CEIBS Shenzhen Campus

CEIBS KNOWLEDGE
20

Katherine Xin: Getting the service-profit chain up and running in the Greater Bay Area

23

Zhao Xiande: Opportunities and Challenges for Southern China’s Greater Bay Area

26

Shameen Prashantham: Shenzhen: Fostering entrepreneurial, collaborative and global innovation

28

Daniel Han Ming Chng & Byron Lee: What makes social enterprises successful? A view from Southern China

FEATURED NEWS32

CEIBS Europe Forums make offline return with dual-venue stops linking Paris, Brussels and Shanghai

34

Prof. Dominique Turpin Appointed New CEIBS President (European)

35

Meet Our New Faculty

36

Faculty Appointments

37

Faculty Awards and Honours

38

CEIBS Faculty in the MediaCEIBS STORIES
40

A foreigner's guide to working at WeChat

43

e-Banking in China’s Greater Bay Area with GEMBA 2021’s David Zuo

46

Thirty years of venture capital adventures in Shenzhen

48

Delivering success as a global freight giant

ALUMNI NEWS50

Alumni reunite at CEIBS Shanghai Campus

52

CEIBS European alumni reunion serves up life-long memories

53

CEIBS ESG Forum 2022 zeros in on sustainable consumption

54

Alumni representatives meet in Shanghai to discuss social responsibility, ESG and more

56

ESG awareness gets a boost as CAIC kicks off sustainability lunch series

57

Thirteen CEIBS alumni-led companies make 2022 Fortune Global 500 list

61

CEIBS honours alumni companies, classes and individuals for major donations

62

CAMPUSES AROUND THE WORLD

64

BRIEFING

OnlinePublished by CEIBS. The authors' views expressedin this publication do not necessarily reflect the viewsof our editors or of CEIBS.
Copyright 2022 © by CEIBS. All rights reserved.

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FROM THE PRESIDENTFROM THE PRESIDENT

02

03

Building on two decades of achievements to
set sail on a new voyage

Committed to delivering a combination of ‘China Depth’ and‘Global Breadth’ in both teaching and research, CEIBS has
five campuses around the world in Shanghai, Beijing, Shenzhen, Accra and Zurich. Our esteemed faculty team of 120
members provide a rich source of international experience inprofessional management and practices. As a result, we remained in the top tier of business schools and have topped Elsevier’s list of Highly-Cited Chinese Researchers in Business
Management for two consecutive years.

CEIBS President
Wang Honghis year marks the 28th anniversary of CEIBS
and the 20th anniversary of the CEIBS Shenzhen
Campus. Impressed by the economic dynamismof South China and passion of local entrepreneurs, we set up a liaison office with only two or
three employees in Shenzhen in 2002. Since then, CEIBS hasembarked on a new Southern journey driven by our motto of‘Conscientiousness, Innovation and Excellence.’
Today, CEIBS Shenzhen has grown from a small regional
office into an influential organisation with a broad alumni
network in South China, all thanks to the concerted efforts ofeveryone in our school’s community. On this occasion, I would
like to extend my best regards to you all.
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Our Global EMBA programme has been ranked #2 by the
Financial Times for the third year in a row, while our MBA
programme has remained #1 in Asia for six consecutive years.
Led by CEIBS, the Global Platform of China Cases has compiled more than 2,000 China-themed cases, laying a solid
foundation for contributing China-specific insights to global
management knowledge. We have also launched four signature interdisciplinary research areas – China and the World,
ESG, Digital Age Management and Service Excellence – and
CEIBS is now regarded as an authority in interpreting China’s
business in a global context.
Our alumni are amongst our most valuable assets, and we now
boast the largest and most influential alumni network of any
business school in the Chinese mainland. To date, CEIBS has
more than 26,000 alumni from more than 90 countries andregions around the world, and has provided a broad range ofprogrammes for more than 200,000 executives in China andabroad.
Since its inception 20 years ago, our Shenzhen campus has
served as home to nearly 40 classes. It has also hosted the
EMBA Shenzhen Class since 2005 and the AMP Shenzhen

Class since 2017. CEIBS Shenzhen now has over 3,000 alumni
in South China from industries such as information technology, smart manufacturing, new energy, and financial investment, who are not only helping to drive the sustained development of the Chinese and global economies, but who are also
championing social responsibility in business.
CEIBS Shenzhen has also helped companies such as Ping An
Insurance, Procter & Gamble, Tencent, Vivo, and EVE Energy
develop their talent pools and improve their management capabilities by providing in-house training courses. It is fair to saythat CEIBS has made a considerable contribution to nurturingbusiness leaders and promoting economic innovation and development.
In 2021, we mapped a fresh course in the form of a new FiveYear Strategic Development Plan (2021-2025), focusing oneight strategic initiatives, including to serve China’s regional
development strategies. Through its three campuses in Shanghai, Beijing and Shenzhen, CEIBS will align itself with thedevelopment strategies of the Yangtze River Delta, BeijingTianjin-Hebei and Guangdong-Hong Kong-Macao Greater Bay
Areas.
As the first special economic zone in China, Shenzhen has
served as a window to China’s reform and opening-up. Inspired by the slogans of ‘time is money’ and ‘efficiency isa lifeline,’ Shenzhen has transformed rapidly from a small
fishing village into the ‘Silicon Valley of China,’ and is now
a major engine for the development of the Guangdong-Hong
Kong-Macao Greater Bay Area. This area aims compete globally with other innovative regions, such as the New York Metropolitan Area, San Francisco Bay Area and Tokyo Bay Area.

A more developed regional economy requires a world-classbusiness school. CEIBS Shenzhen is borne of a new mission
to cultivate high-calibre entrepreneurs and senior managers for
growing enterprises in one of China’s major centres of innovation and entrepreneurship. In taking on this mission, we willcontinue to empower business managers in the Greater Bay
Area through high-quality management education, signatureforums and events, and exclusive alumni services, thereby promoting talent training and economic development.
Notably, CEIBS has recently signed a strategic cooperationagreement with the Qianhai Shenzhen-Hong Kong Modern
Service Industry Cooperation Zone to further cooperation
with Qianhai in talent and professional training. We will also
provide entrepreneurship platforms for young people from
Hong Kong and Macao, with the hope to form a new patternof innovative cooperation amongst government, industry, academia and research. Finally, CEIBS Shenzhen Campus will
relocate to Qianhai in order to leverage the district’s many advantages.
In the years ahead, CEIBS will continue to align with China’s
national strategies, give play to our role as a think tank while
pooling our strengths in teaching and research, and strive to
become the first choice for entrepreneurs in South China. We
sincerely hope that with the concerted efforts of everyone in
the CEIBS community, our Shenzhen campus will usher in amore brilliant future!

CEIBS President
Wang Hong
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04

Celebrating 20 Years:
CEIBS Shenzhen and theGreater Bay Area05

I

n 2002, CEIBS began its journey in South China, setting up a small

liaison office in Shenzhen. Over the past 20 years, this office hasdeveloped into an influential facility occupying more than 3,000
square meters area. With more than 40 classes and over 3,000

alumni, the CEIBS Shenzhen Campus plays a crucial role in promoting
economic development and talent cultivation in the region.

The development of the Guangdong-Hong Kong-Macao Greater Bay Area
– as known as the Greater Bay Area (GBA) – officially became part ofChina’s national strategy in 2017. It aims to compete globally with innovative regions such as the New York Metropolitan Area, San Francisco Bay
Area and Tokyo Bay Area.

By combining our strengths in teaching and research, CEIBS Shenzhen

strives to be the first choice in management education for regional entrepreneurs and to contribute to the economic development of the GBA. In

the future, our campus will relocate to Qianhai in order to leverage the district’s many advantages.

Here, we also take a look at how we got started in South China, what thejourney has been like so far and where the path ahead is leading.

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07

CEIBS Shenzhen
Campus Milestones:
A 20-Year Journey

Foreword

Just as our students have opted
for CEIBS for its commitment to conscientiousness, wehave expanded into the cityof Shenzhen for its dedication to innovation. On July 18,
2002, CEIBS set up a liaison
office in Shenzhen, with theaim of tapping into the management education market inSouth China. In spite of office relocations and personnel
changes over the course of
the past 20 years, we remain
devoted to forging close ties
with our alumni and customers
in South China and to serving
the regional economy. Inspiredby CEIBS’ motto of “Conscientiousness, Innovation andExcellence,” the following
chronicle of events is in honorof our alumni, colleagues andfriends who have significantly
contributed to development of
the Shenzhen Campus over the
past two decades. Let us staytrue to our original aspirationand move forward together inpursuit of excellence!

2007
2011
2006
2005
2004
2002
The CEIBS Shenzhen
Liaison Office started
off as a 90-square-meter
office in Block A of theInternational Chamber ofCommerce Tower.
We offered an array of
Executive Education(EDP) programmes,and signed cooperationagreements with Ping An
Insurance, NetEase andother leading companies.
Since then, we havetaken root in South China
to help local enterprises
thrive amidst challenges.

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We moved our officefrom the International
Chamber of Commerce
Tower to Han Tang
Building in the Overseas
Chinese Town.
The CEIBS Shenzhen
Alumni Chapter, Guangzhou Alumni Chapter,and Hong Kong & Macao
Alumni Chapter were
established.

The CEIBS Shenzhen
Liaison Office was
upgraded into the CEIBS
Shenzhen Representative
Office.
We opened the first
EMBA Shenzhen classat the Novotel Bauhinia
Shenzhen in the Overseas
Chinese Town.

We moved ouroffice into a larger
unit in Han Tang
Building.
We opened thesecond EMBA
Shenzhen class.

The first CEIBS Annual Gathering(South China) was held at the Marco
Polo Shenzhen.
Initiated and organized by the CEIBS
Shenzhen Representative Office, the
CEIBS HR Management Practice Alliance was established to bring together
HR directors from leading companies
in South China.

2008
The CEIBS Hunan
Alumni Chapter,
Fujian Alumni
Chapter and Guizhou
Alumni Chapter were
established.

2009
2010
We relocated our office
to Rongchao Business Center, where the
CEIBS Shenzhen Teaching Center was founded
to integrate administrative and teaching activities.
Since 2009, we haveenrolled two EMBA
Shenzhen classes annually.

The CEIBS
Guangxi Alumni
Chapter andYunnan Alumni
Chapter were
established.

Co-organized by CEIBS andChengwei Capital, the CEIBSChengwei Innovation China Summit 2011 was hosted in Shenzhen.
Then-CEIBS Board Director Yan
Junqi delivered a speech.
We launched the Boyue Forum,
where eminent scholars delivered
lectures on humanities and social
sciences to provide our alumni witha rich learning experience.
The CEIBS Zhuhai-ZhongshanJiangmen Alumni Chapter was
established.

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08

09
2019
2017

2012
The Innovation China Summit
2012 was held at the Grand
Hyatt Shenzhen. Then-CEIBS
President (European) and
Chengwei Ventures Chair
Professor of Entrepreneurship
Pedro Nueno, then-CEIBS
President and Professor ofManagement Zhu Xiaoming,and then-CEIBS Baosteel
Chair Professor of Economics Wu Jinglian, attended theforum and delivered speeches.
A folk concert in celebration of
the 10th anniversary of CEIBS
Shenzhen Campus was also
held.

2014
The official CEIBS South
China WeChat account was
launched to provide firsthand information to ouralumni, students and customers in South China.
An award for the “Best
Referrers of CEIBS South
China” was created in honorof alumni and students who
actively referred EMBA applicants to CEIBS Shenzhen
Campus.

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The relocation of the CEIBS Shenzhen
Teaching Center to Wutong Island
marked the official founding of CEIBS
Shenzhen Campus. We also hosted thefirst CEIBS Shenzhen Annual Forum.

2015

The first CEIBS Advanced Management
Programme (AMP) Shenzhen class waslaunched.

2015 marked the 10th anniversary of the EMBA Shenzhen
class. As of 2015, we hadenrolled more than 1,000
students in 17 classes.
The first edition of the “Lightof Professionals” Learning
Alliance was held at Rongchao
Business Center to provide
CEIBS South China alumni
with continuous learning.

2016
The 10th CEIBSSouth China Annual
Gathering was heldat the InterContinental Shenzhen.

An award for the “Best CEIBS Shenzhen EMBA Class” was created and an
appreciation course was offered to thewinning class.
The number of CEIBS alumni in South
China topped 3,000.

2018

In celebration of the 25th anniversary of CEIBS, Shenzhen
Campus kicked off a wide range of activities, including atalk show and a concert.
2019 marked the 5th anniversary of the “CEIBS South
China Best Referrers” campaign. As of 2019, the number ofreferrers had topped 400. 2019 also marked the 3rd anniversary of the “Best CEIBS Shenzhen EMBA Class” award.
For the first time, CEIBS Shenzhen Campus incorporated
the Real Situation Learning Method™ (RSLM) in South
China – a combination of classroom teaching with company
visits where students could engage directly with industry
experts.

2020
In response to the COVID-19 pandemic, CEIBS
Shenzhen Campus rolled out a range of online
events to provide a learning platform for tens of
thousands of entrepreneurs and senior executives
in South China.

We opened the first CEIBS
Shenzhen EMBA Boot
Camp.

2020 marked the 15th anniversary of the CEIBSEMBA Shenzhen class. As of 2020, we had enrolled more than 1,500 students in 27 classes.

We opened the first COP
Class (Capital Operations
for Business Growth: A
CEO Perspective) initiatedand co-developed by theShenzhen Campus.

Shenzhen Campus also delivered an array ofcourses on humanities and the history of humancivilization to alumni.

To facilitate digital transformation, the Executive
Education (EE) Department launched a programme
about Corporate Digital Transformation.

2021
The first CEIBS EMBA salon
on industry discussion was
hosted at the Shenzhen Campus.
The “Light of Professionals”
was upgraded to “company visit+ industry salon.”
The CEIBS Zhuhai-ZhongshanJiangmen Alumni Chapter was
renamed the CEIBS ZhuhaiMacao Alumni Chapter, while
the CEIBS Hong Kong-Macao
Alumni Chapter was renamed
the CEIBS Hong Kong Alumni
Chapter.

2022
As of spring 2022, CEIBS Shenzhen Campus had welcomed 30
EMBA classes.
2022 marked the 5th anniversaryof the CEIBS General Manager
Programme (AMP) Shenzhen
class. So far, more than 300
students have been enrolled.
2022 also marked the 20th anniversary of the CEIBS Shenzhen
campus.

We officially launched the CEIBS South China
WeChat Channel.

The CEIBS Management Forumand the first Global
Supply Chain Summit took place inShenzhen.

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11

Shenzhen forum explores
innovation and talentdevelopment in Greater Bay AreaThe CEIBS Innovation Forum

Prof. Wang’s message was echoed byProfessor of Operations and Supply

Xin then introduced the overall trend

The event also featured a round table

ing Centre of ICBC Shenzhen Branch,

Shenzhen in November withKe, who underlined the importance ofDean (Shenzhen Campus) Zhao Xi-

service sector, respectively.

views on talent development strategies inShenzhen and the Association of Char-2022 series kicked off ina focus on economic andtalent development in Guangdong-Hong
Kong-Macao Greater Bay Area.

Shenzhen Qianhai representative Liang

CEIBS’ talent and intellectual support indriving the development of the region’s
modern service industry.

In her opening speech, CEIBS President“We hope to work with CEIBS in invest-

namism and enthusiasm of entrepreneurs

exchange, as well as education and train-

Wang Hong noted that the economic dyin South China is what lured the school

to set up a liaison office in Shenzhen 20
years ago. Since then, CEIBS Shenzhen

has grown from a small regional officement, talent introduction, international

Chain Management and Associateande stated that the academic advan-of China’s economy, and the country’s

tages of CEIBS and business resources

Data from the National Bureau ofenterprise innovation and contributeservice sector accounted for 52.2% ofof Qianhai can go hand in hand to fuelto the development of the Greater Bay
Area.

ing in the future,” she explained.

CEIBS Adjunct Professor of Econom-

Also speaking at the event, CEIBS

Professor of Management Katherine

ics and Finance Sheng Songcheng andStatistics shows that, in 2018, China’s

its GDP, making it the main driver of
economic growth in China. That said,

there is still much room for improve-

ment, as the number is negligible compared with the world’s top 15 economies, Prof. Xin pointed out.

discussion where participants shareda globally competitive landscape. Prof.
Xin concluded that, to retain talent, com-Shanghai Chamber of Commerce intered Certified Accountants (ACCA).

panies should first and foremost cultivate

Launched in 2015, the CEIBS Innovation

talent to grow. Moreover, they also need

the latest in management expertise, con-an inclusive and respectful culture forto help build platforms for talent to fulfill
their dreams.

The forum was organised by CEIBS

Forum series is aimed at disseminating
tributing to China’s regional economic development, and empowering the school’s
alumni in upholding social responsibility.

and co-organised by the Private Bank-

into an influential organisation for educational management in South China, allthanks to the dedication and support ofthe school’s staff and alumni in the region.

“CEIBS recently signed a strategic coop-eration agreement with Qianhai administration to provide talent and professional

training, as well as entrepreneurship platforms for young people from Hong Kongand Macao,” Prof. Wang added.

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13

Twenty years on:
CEIBS Shenzhen sets out on
a new journey
In 2002, with campuses in Shanghai and
Beijing, CEIBS cast its eyes on South
China. Equipped with a dynamic market
and many private enterprises, the region
quickly became a land of promise.

01

Sowing a seed
CEIBS Vice President and Co-Dean
Zhang Weijiong joined the school in 1997
as the first Director of the EMBA Programme. He quickly realised that there
was a promising market for management
education in Shenzhen.
“Shenzhen was a window to China’sreform and opening up drive, and it had
given birth to a large number of private
businesses with a thirst for systematic management knowledge,” Prof. Zhang says.
“In this sense, we made the right choice totarget the management education market
in Shenzhen at the time,” he adds.
Following many company visits and detheLINK Volume 2, 2022

velopment efforts, the CEIBS Shenzhen
Liaison Office was founded in July 2002
in the International Chamber of Commerce Tower. Starting from this lessthan-100-square-meter office, the school
embarked on a new Southern journey.

02

Blazing a trail“While CEIBS was blazing a trail inmanagement education in South China,
it was not well recognized by many people,” CEIBS Assistant President, Directorof ARD and Chief Representative of theShenzhen Campus Hobbs Liu recalls. “Assuch, we had to initiate many ‘firsts’ andcreate a management education market
by educating our clients.”
By the end of 2004, however, CEIBS had
gained market presence in Shenzhen.
“The Executive Education (EE) programme laid a solid foundation for the
opening of the inaugural EMBA Shenzhen Class. Many of the first EMBA applicants also attended the EE programme,
and spoke highly of CEIBS’ quality andteaching,” Hobbs says.

education in South China.
“The programme includes cross-cultural
exchange, multinational management, as
well as ways to motivate, delegate powerand supervise, which are very helpful inrunning businesses,” Shenzhen Ellassay
Fashion Company Chairman and CEIBSEMBA alum Xia Guoxin says.

04

Finding the right place andexpanding continuously
A high proportion of CEIBS Shenzhen
students are those who have worked
their way up through private enterprises.
Many came to CEIBS, not just to earnmore money, but to explore the directionof their lives and their place in the Chinese economy.
As its operations expanded, the CEIBS
Shenzhen Office was relocated to Wutong
Island in October 2017, marking its official
upgrade to the Shenzhen Campus.

05

A promising future
The CEIBS Shenzhen Campus has explored and cultivated the South China market for 20 years. It now houses 40 classes
with over 3,000 alumni from South China.
“As part of the Greater Bay Area, Shenzhen has grasped the opportunity for rapid
development, and our Shenzhen Campus
can draw from the upward momentum of
the city’s development,” CEIBS President
Wang Hong says.
“I hope CEIBS Shenzhen Campus will be
as bold and daring as the city, and makeremarkable achievements by pursing
excellence with boundless energy, enthusiasm and entrepreneurial spirit,” Prof.
Wang adds.
Building on the solid foundation laid overthe past 20 years, CEIBS Shenzhen looks
forward to a more ambitious future andwill strive to follow the road ahead.

CEIBS Professor of Management and now Associate Dean (Europe) Katherine Xin gives a keynote speech in
Shenzhen in July 2002

03

CEIBS opens first EMBA
Shenzhen ClassCEIBS opened the first EMBA Shenzhen Class in 2005. The successful
launch of marked a milestone in theschool’s effort to promote management
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15

Dedication toentrepreneurshipfor 20 years

gurated our new facilities.
In the early years of CEIBS Shenzhen,

In 2009, we relocated to the Rongchao

up faculty and delivering course mate-square meters, the new location allowed

took charge of visiting clients, picking

telemarketing and customer service andserved as office administartor. In order

to expand our client base, we opened

short training courses about Human
Resources Management and Finance for
Non-Financial Managers.

By the end of 2004, we also began toprepare for the first EMBA Shenzhen

Class. However, due to our limited facil-

CEIBS Assistant President, Shenzhen Campus Chief Repre-

Hotel.

we had only two employees. Brian Kongrials, while Lin Ni was reponsible for

Hobbs Liu

were delivered at the Novotel Bauhinia

ities, the first EMBA Shenzhen Classes

Business Centre. With an area of 1,800
us to integrate both office and teaching functions. at the same time, we expanded two offer two EMBA Shenzhen
Classes per year.

In celebration of CEIBS Shenzhen’s
10th anniversary in 2012, the school

hosted a series of activities, including a
concert and annual gathering. Our Shen-zhen team also grew even bigger, andmany of them are still with us today.
By the end of 2017, we moved to a new

Our alumni are themost important partof our community.
It is their constantsupport in referring
applicants, providing case studies forfaculty research,and making donations that has propelled the development of Shenzhen
Campus during thepast two decades.

sentative and Alumni & Development Office DirectorC

EIBS Shenzhen started ininnovation and entrepreneurship.

I was responsible for selling courses toDistrict, where we set up a

I first lived and worked in Shenzhen

in Guangdong. In 2000, when the EE

years on, our new campus, coveringdeveloped a deep affection for the city.

2002 in the city’s Futian
small liason office. Twenty

over 3,000 square meters on Wutong
Island in Bao’an District, is home tonearly 60 staff members, and has takenroot in one of China’s major centres of

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in 1993 and 1994, during which time I
Later, in 1997, I joined CEIBS as a classcoordinator for the EMBA programme.

In 1999, I was reassigned to the Executive Education (EE) programme, where

private startups and foreign companies

Then CEIBS Vice Presidents Zhang Guohua(left) and Alfredo Pastor (right) pose at thelaunching ceremony of Shenzhen Liaison Officein 2002

programme looked to expand domesti-cally, school leadership proposed to set

up a liaison office in Shenzhen. Twoyears later, this proposal became a real-

ity when then-CEIBS Vice Presidents
Zhang Guohua and Alfredo Pastor inau-

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17

A two-decade trek as
the first staff at CEIBS
Shenzhen CampusBrian Kong joined CEIBS

tap into the management education mar-when the then-90-square-

Brian has witnessed every step of theShenzhen Campus in 2002

metre office was about toket. As the campus’ first staff member,journey in South China.

Brian Kong
Operations Director of

CEIBS Shenzhen Campus

facility on Wutong Island and officially

Campus boasted over 30 classes andof our community. It is their constantalso opened the first AMP Programme

To better serve our alumni and build

ing case studies for faculty research,

became CEIBS Shenzhen Campus. We
Shenzhen Class that same year.

Looking back, the progress we havemade can be attributed to experience ac-

cumulated over the years in Shenzhen
and to the development of the Greater

Bay Area. As of 2020, CEIBS Shenzhen

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more than 3,000 alumni in South China.
a lifetime learning platform, we also

launched an alumni humanities class –the first of its kind at CEIBS – as well

as a series of courses on the history ofhuman cilvilisation.

Our alumni are the most important part

support in referring applicants, provid-

and making donations that has propelled
the development of Shenzhen Campus

01

Feeling the pulse of the times

during the past two decades. On behalf

Brian came to Shenzhen in 1994 and“The whole point of the no-minimum

It was in this seemingly-cruel context

express our heartfelt gratitude to all oursalesman. His base salary was cut

make orders and to prove that we could

tem and distinctive personal style.

of CEIBS Shenzhen, I would like toalumni who have cared and supported
the development of CEIBS!

joined a company as an advertising
down every quarter until it reachedzero after one year.

pay scheme was to motivate staff tolive on a commission,” he says.

that Brian developed his own sales sys-

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02

19

04

Encountering CEIBS

Launching high-quality forums

Brian was attracted to CEIBS in 2000

the school was going to open an office

Brian stood out from more than 20 ap-

Two years of EMBA study have al-

his attention. Brian later learned from awith a marketing background. Withas the first staff at Shenzhen Campus.

derstand the needs of alumni andwhen an EMBA recruitment ad caught

friend (a CEIBS MBA 1998 alum) thatin Shenzhen and was looking for staff
rich experience in sales management,

plicants. Soon after, he joined CEIBS

lowed Brian not only to better un-

students, but also to meet their needsfrom a school perspective.

“We have to value the course ex-perience of our students,” he says.
“We also need to know how to build

03[CEIBS] into a lifelong and diverse
learning platform.”

CEIBS Shenzhen Campus initiated two
signature branding events in 2011 and2015, respectively; one focusing on art,
literature, history and philosophy, andthe other revolving around industry and“CEIBS is a high-end brand, and its
identity means that it must follow a‘less but better’ path. We need to be
devoted to every product we make.

The blind pursuit of quantity will only
result in a failure to produce quality
products,” he continues.

management insights.

Devoted to business

While Executive Education (EE) sales

been Brian’s focus. In 2005, CEIBS

it easier for them to recommend or

ing with corporate HR directors, Brianfirst cohort of EMBAs. Soon, the Shen-“EMBA alumni are also the largest

staff spend much of their time dealfound that it was not easy to make appointments with these people. However,it also made him wonder if it would bepossible to set up a platform to bring

HR directors together. In 2007, the HR

Shenzhen Campus opened its door to its
zhen team were receiving applications

from executives at organisations suchas ICBC, China Merchants Bank andChina National Aviation.

Management Practice Alliance was

In order to find out what it was really likeand provide them with valuable insights

a student in the EMBA Class of 2006.

launched to bring HR heads together
and an opportunity for learning.

Driving business growth has always
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to be a CEIBS student, Brian enrolled as“It was good for business development,
and the interaction with students madesend people over to study,” he explains.
alumni group at CEIBS, and I wanted

to get first-hand information about what
they really needed.”“Many directors at CEIBS have en-rolled in the EMBA programme, but

05

Looking to a brighter future

few joined for admissions purpose like

From a small office to larger, modern

gotten its foot off the ground back then,versed a road not easily taken. Now

me. The Shenzhen Campus had justand we needed to put more efforts into
recruiting students,” he continues.

facilities, CEIBS Shenzhen has traOperations Director of CEIBS Shen-zhen Campus, Brian believes that thecampus is faced with many development opportunities.

education in the Greater Bay Area andforge ahead,” Brian concludes.

“We should take on a sense of mission

and responsibility to plant management
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21

Getting the service-profit
chain up and running in
the Greater Bay Area
Katherine Xin
CEIBS Professor of Operations and Supply Chain
Management and Associate Dean (Shenzhen Campus)

I

For companies to pursue good service quality, employees must have good capabilities,
be satisfied with their job and be loyal to thecompany.

n 2021, the Chinese government released a

In my view, service excellence will be the next

who are aware and willing can provide service

the efficiency of our staff management systems?

new plan for the Qianhai Shenzhen-Hongdevelopment engine for Chinese companies. Be-

excellence.

How can we enhance employee willingness andKong Modern Service Industry Coopera-

fore we can provide service excellence, however,tion Zone which made developing South

we first need to define it. And, second, we need

There are four important features of the service in-

how can we educate our clients about what is

to build a service-profit chain.

dustry which pose challenges to management. First,

reasonable service?

China’s modern service industry a priority. By
2025, Qianhai is projected to boast more than 300

capabilities to provide service excellence? And,

production and consumption of services happen

global service providers, with an added value ofMany companies claim they provide services

simultaneously; secondly, service cannot be saved

over 100 billion RMB. In the process, it will help

free of charge and create added value for con-and vanishes once the need is gone; thirdly, service

build the service industry in the Guangdong-Hongsumers. Typically, consumers are willing to pay

is invisible and consumers often have different

Kong-Macao Greater Bay Area and become one

for services as long as we know their needs andfeelings about the same service; and, lastly, differ-

The first link of the service-profit chain is theof the most important production-related service

design and provide them accordingly. At theent customers have different demands for services.

internal operational strategy and service delivery

industry centres in Asia.

same time, culture should be the fertile soil from

Moreover, since needs are highly personalised, op-

system. At the core of this chain lies the service

which to cultivate service excellence. The hospi-

erations, marketing and human resources must all

providers – our employees. For companies to

At 53% of the country’s GDP, China’s service

tality industry, for example, may believe service

learn to deal with clients.

pursue good service quality, employees must

industry is becoming a major driver for econom-

should be heart-warming and make consumers

ic growth. Nevertheless, China’s service industry

feel at home. Meanwhile, the high-end manufac-

So, we need to pay attention to a few key el-

still comprises the lowest proportion of total

turing industry may believe that it is more im-

ements: In which service aspects do we have

GDP when compared with the 15 biggest econ-

portant to respond quickly and deliver products

unique competitive advantages? How can makeThe second link is service philosophy. This em-

omies in the world. Therefore, China’s service

on time. Either way, only those companies which

our service generate profit, instead of only being

bodied in the process of providing the service.

industry still has a lot of room to grow.

have the capabilities and which employ staff

added value for clients? How can we improve

Our philosophy also defines our value proposi-

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How to build
the service-profit chain

have good capabilities, be satisfied with their job
and be loyal to the company.

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23

clients, then we may need ask if it really createsvalue and whether or not we should reallocate
resources to focus on more important areas. Only
those attributes which clients value and which
we can work well on make up our core com-

Opportunities andChallenges forSouthern China’s
Greater Bay Area

petitive advantages. We must adopt our clients’perspective to discover these advantages (insteadof simply benchmarking ourselves against peer
companies).
Second, the service-profit chain is dynamic.

Zhao Xiande
CEIBS Professor of Operations and Supply Chain Management
and Associate Dean (Shenzhen Campus)

Client demands change and we need to innovate
services. Employees also change. Their abilities,
satisfaction and loyalty vary at different stages.
There is also what we refer to as a ‘satisfaction
mirror.’ When employee satisfaction is high,clients experience this. If we allow employees to

The third link is the external client market. How

Last but not least, the service-profit chain has acan we satisfy our clients so as to increase theirleverage effect. The value a service creates forT

Covering 56,000 square kilometres, the 80

and modern services to better serve the GBA,

loyalty (and increase our profitability)?

clients depends on the results we deliver, themillion-resident region produced more thanwhile stepping up technology innovation toquality of the process, the price, and the cost of

11 trillion RMB in economic output in 2020.

industrialise academic achievements.

Finally, how can we make these links work

the service. If we can improve results and theSince the return of Hong Kong and Macao tosmoothly and set the service-profit chain to run

quality of the process, while lowering costs, theChina, collaboration between the three regions

Macao is dominated by tourism and leisure.

efficiently? First, assuming we have limited

value created for the client will increase, creating

has been deepened, leading to increased eco-

Similar to Hong Kong, its relatively singu-

a kind of cycle.

nomic prowess and greater competitiveness.

lar economic structure coupled with small

make up for failures in service, they will be more
inclined to listen to client complaints; and clition (i.e. what the clients need and we are goodents, in turn, will be more willing to let us knowat).

where we need to improve.

resources, providing service becomes a process

he Guangdong-Hong Kong-Macao

fers from sluggish economic and social devel-

Greater Bay Area, as known as

opment due to difficulties in commercializing

the Greater Bay Area (GBA), is aacademic achievements and a lack of industri-world class urban agglomeration

al resources. Therefore, it should give play towith the strongest market vitality in China.

its advantages in finance, shipping, logistics

geographical area has led to slow growth.

of trade-offs. If we are not delivering on service

TheLINK Volume 2, 2022

attributes which are important for our clients,

In a nutshell, service excellence is a profit strat-

we need to invest resources to improve theseegy that can lead to new services and more cli-areas. If we fail in an area that clients do not careents. Reducing client loss can prevent price com-about, it should be considered optional and wepetition and create more premium space. Service

may reduce our investment or simply ignore it. If

excellence is never easy and requires attention to

we deliver in an area that is not important to our

detail and a consistent attitude.

Major business layouts of thethree regions
Hong Kong focuses on finance, shipping,logistics and modern services. While home to
many world-class universities, however, it suf-

Therefore, the government’s decision to allow Macao and Guangdong to jointly govern
the 106-square-kilometer Hengqin Island
has provided needed land to help Macao diversify its economy and achieve sustainable
development. Macao should focus on further
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exploring diversifying economic structures in
Hengqin.
Meanwhile, Guangdong’s nine major cities
have large economic volume, and are well-positioned to support emerging industries, advanced manufacturing and modern services.
For Guangdong, the next step should be topromote its emerging industries, step up innovation and coordinate more development withother two regions.

How can the three regions complement each other?

25

The role of new infrastructure
construction in developing
the GBA
From the perspective of supply chains, new infrastructure plays a critical role in the upgrade
and transformation of the industrial and supply
chains in the GBA in the following three ways:
Firstly, to fill in the gap of China’s industrial
and supply chains. Take chips, for example.
Currently, China is dependent on overseas supplies which can easily be restrained. The technological innovation and industrial transformation of the GBA can propel the research and

The GBA can achieve greater coordination indevelopment of China’s chip industry by lev-

a number of ways. First, promoting the con-eraging Hong Kong’s advantages in innovation

struction of the Guangzhou-Shenzhen-Hongand talent, as well as chip design enterprises

Kong-Macao Science and Technology Inno-such as Huawei and Hisilicon in Shenzhen.

vation Corridor to facilitate cross-border ex-

Secondly, to enhance the effective coordina-

Thirdly, to promote the national ‘dual car-change; second, strengthening capital market

tion of the GBA’s industrial and supply chainsbon’ goals. Taking charging stations of new

interconnection and further improving offshore

to improve the global competitiveness of prod-

energy vehicles as an example, at present, weand onshore markets; third, advancing judicial

ucts and services. The key is to integrate thestill have a large number of public charging

coordination mechanisms for intellectual prop-

supply chain mindset into the planning and de-stations, with the vehicle-pile ratio dropping

erty rights; fourth, boosting the coordinatedvelopment process of new infrastructure. For

to 2.9:1. However, in practice, you will finddevelopment of shipping and aviation indus-

example, while digitally upgrading industrialthat many public charging stations are slow toparks, it is also necessary to plan and coor-

charge and some are even broken. Therefore,

dinate industrial and supply chains between

in the future, the GBA can tap into building

different parks so as to create a sound ecology

high-powered, fast-charging stations and ex-that integrates industry and finance. In the pro-ploring new types of infrastructure such as

cess of building intelligent logistics hubs (suchbattery swapping stations to assist the EV

as airports, ports and distribution centres), we

transformation.

tries between the four places; fifth, fosteringcloser cooperation in the cultural and creativity industries.
Meanwhile, more consideration should also
be given to the roles of Qianhai and Henqin tocombine institutional innovation and industry
development.

For Guangdong, the next
step should be to promote
its emerging industries, step
up innovation and coordinate
more development with Hong
Kong and Macao.

should also emphasis the digital networks ofdifferent supply chains, making sure they are
manageable to help clients optimise the logistics supply chain based on data analysis.

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27

Shenzhen: Fostering
entrepreneurial,
collaborative andglobal innovation

lished a joint initiative to leverage the creative

as my research on corporate-startup partnering inenergy of entrepreneurs from both regions.

China unfolded, many examples I came acrossinvolved startups from Shenzhen.

That said, the impressive accomplishments ofShenzhen startups reflects not only policy but

As I document in my book Gorillas can Dance,

also the people in the ecosystem. Most noticea-

this was true in the case Walmart China’s startup

ble to me in Shenzhen was how young the city

partner programme, Omega 8. One exemplar

felt, especially the vibrancy of its shopping malls

Walmart partner was an AI startup from Shen-and eating places that were filled with energetic

zhen. An alum of the Microsoft accelerator

people. It is a city that has clearly attracted con-programme, this startup’s technology helped

Shameen Prashantham

siderable talent. Eddie Xi, a CEIBS GEMBA

the retail giant address pain points in customer

CEIBS Associate Dean (MBA) and Professor ofInternational Business and Strategy

alum who runs the China offices of British head-experience. I am given to understand that thishunter Hamlyn Williams tells me, “Shenzhen

multinational even found ways to leverage thattalents are the most vibrant, energetic and hungry

startup’s technology in some of its US stores.

– very similar to Japan 20 years ago… I havehelped some alumni find key people for theirPartnerships like this reflect three importantcompanies.”

mindsets: entrepreneurial, collaborative andglobal. These mindsets remain incredibly rele-

I

Furthermore, Shenzhen offers immense possi-

vant especially in terms of fostering cross-borderbilities to try out things at a rapid pace. Saimen

partnerships that promote sustainability out-n recent years there has been rising in-tech startup ecosystems in the world, especially

CEO Carl Breau, a Shanghai-based Canadian

comes such as combatting climate change. And

terest in the contribution that startups

in relation to hardware”. Three factors seem toentrepreneur (and a CEIBS MBA Learning Men-

the Shenzhen ecosystem – like its other dynamic

make in providing goods and services,

have driven this: policy, people and possibilities

tor), established operations in Shenzhen for thiscounterparts in China and other emerging mar-promoting innovation and generating em-

created by a unique ecosystem.

very reason. He says, “In our area of manufactur-

kets – remains an important location where suching of electromagnetic products, where the parts

collaborations can be fostered.

ployment. Even a startup slowdown in fundingaround the world doesn’t discredit the positive

In terms of policy, government officials them-in new designs keep on increasing in number andimpact that entrepreneurial ventures can have,

selves have been entrepreneurial. As China’s

complexity, I think what makes Shenzhen uniquealthough it does (and should) make investors andfirst Special Economic Zone (SEZ), Shenzhen

is the ‘completeness’ of its supply chain. A typ-entrepreneurs more discerning. A noteworthy as-

had latitude to experiment – something which

ical robot and controller can easily have more

pect of the rise of startups is that this tends to belocal the government leveraged. In the classic

than 5,000 components, coming from hundreds

concentrated in certain subnational locales such“catch up” mode of emerging markets, Shenzhen

of different suppliers. Shenzhen is probably theas Silicon Valley. And Shenzhen.

companies have been able to leverage their en-

only place in the world where you can find al-

vironment to make the transition from executors

most all of these parts within a single city.”

My interactions with entrepreneurs, managers

to designers, with a strong focus on areas likeand colleagues in Shenzhen reveal a widely

robotics, drones and the Internet of Things. As

For me as a researcher, a fascinating outcome ofshared belief that the city is built on entrepre-

a result, there has been considerable overseas

Shenzhen’s policies, people and possibilities isneurship. Wei Zhou, CEO of XNode, a Shang-interest in this innovative milieu. Given mya fourth P: partnering. Locations like Shenzhen

hai-headquartered innovation consultancy, tells

strong connections to Scotland, I was especiallyare rife with collaboration amongst firms withme he opened an office in Shenzhen because

intrigued to learn that during pre-COVID times,

complementary skills, including large corpora-the city “is one of the most vibrant and active

Edinburgh, a twin city of Shenzhen, had estab-tions and startups. It is therefore no surprise thatTheLINK Volume 2, 2022

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29

What makes social enterprises
successful? A view fromSouthern China

T

Daniel Han Ming Chng

Byron LeeCEIBS Associate Professor of

CEIBS Associate

Strategy and Entrepreneurship

Professor of Management

he pursuit of profit and redressing

the Chinese government remains committed to

2 cities, where most SE activity occurs – haveCao, himself a father of a son with a mild intel-

social problems, at first glance maketackling social problems directly, there is room

allowed word to spread quickly about the social

lectual disability, was determined to help redressuneasy bedfellows. However, forfor social enterprises to contribute solutions.

mission and contributions of SEs. At the same

this imbalance. Inspired by other successful

time, China’s increasingly influential Generation

Xihaner-focused SEs, Cao banded together withthey are two halves of a workable whole thatsuccessful social enterprises (SEs)
Specifically, with China’s rapid economic de-

Z is more likely than previous generations tonine other Xihaner parents to launch the Shen-embodies the effective management of the para-velopment there remains a legacy of social

spend on products and services delivered by SEszhen Xihaner Car Wash Centre in 2015.

doxical tensions between commercial profit andchallenges such as rural poverty and elderly

because of their clearly defined social missions

social purpose.

healthcare. While these problems are sizeable

that benefit society.

and are being tackled by government policy, theOne of the most critical and pressing problems in

response from the private sector in the form ofsociety is the yawning chasm that exists in mostsocial enterprises is also important.

Through the creation of a special training programme, Cao and his partners developed a sus-

Xihaner Car Wash – An example
from Shenzhencountries in the form of large and complex so-

tainable business model staffed by 16 Xihaner
employees. After a careful assessment of theirabilities, employees were formed into teams incial problems that are left underattended. These

Most Chinese SEs are younger, smaller ventures.

In 2017, the China Disabled Persons’ Federation

a way that ensured each team could collectively

range from poverty to poor healthcare access toJust over half were founded after 2015, and only

reported that there were over 10 million Xihaners

perform the task of washing an entire car.

exclusion from formal education. An institution-around 7% are more than 10 years old. Most

– people who live with intellectual disabilities

al solution may lie in the form of SEs.

have less than 10 employees, and only 6.4% staff– in China. While specialised care is available

In its first year of operations, Xihaner Car

over 100 people. Furthermore, SEs are also a

in China for Xihaners, not everyone has imme-

Wash handled 12,000 cars, generating profits

nascent business trend in terms of their financial

diate access to the institutions designed for thiswhile paying all of its Xihaner employees (andmaturity; only 23.8% of China’s SEs maintainpurpose. With problems ranging from lack of

their mentors) industry-competitive salaries.

profitability, and around half haven’t yet reachedawareness and on-hand support to outright social

As well as providing its staff with marketa-

break-even.

stigma, in 2018 only around 10% of China’s Xi-

ble skills and real-life work experience, thehaners were gainfully employed.

car wash gave them a sense of daily purpose,

Why is China such a fertile groundfor social enterprises?
China enjoys some of the highest economic
growth rates in the world. Its economic reforms
have raised millions out of poverty while creat-

However, high levels of digital literacy among

ing a wealthy and expanding middle class. While

Chinese consumers – particularly in Tier 1 andTheLINK Volume 2, 2022

greater confidence, and meaningful interaction
The founder and CEO of Xihaner Car Wash, Junwith customers.
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月捐计划

爱中欧 筑未来First, when considering the advantages of start-

Giving for a Better CEIBS

ing an SE, it is not enough to simply criticise theinadequacies of existing solutions, rejecting themout of hand. Instead, effective SEs carefully andrationally consider prevailing conditions, weighthe pros and cons of existing solutions, and thenlook for ways to introduce their products/services in ways that benefit everyone. Essentially, SEs
don’t have to reinvent the wheel; they simply
have to recognise the underlying causes of theirSince its founding, Cao has supported the rep-targeted social problem and seek to engage all

lication of the Xihaner Car Wash Centre to 30

the relevant stakeholders in a coordinated, col-locations throughout China, with more centres

laborative way.

under construction.
Second, SEs that employ clear, unambiguous

What makes social enterprises
successful?

Little drops of water make the mighty ocean
Join hearts and hands to build a shared future

guidelines that protect their social and commercial goals are in a much better position to succeed. This entails setting up clear guidelines that

Developing, launching and maintaining an SE

stop them from participating in activities that can

is no easy task, even in China, where conditions

hinder their social value or make them financial-are supportive of SE activities.

ly insolvent.

A recent CEIBS study of SEs in China (including

It is clear that addressing societal ills represents

the one above) demonstrated that successful SEs

an underserved market, but the rise of SEs in

are most often those that can ‘walk on the edge’

China provides a different logic that may helpof simultaneously being socially driven and busi-

contribute to a solution. China’s credentials forness savvy. While SEs don’t necessarily have tofostering community-grown enterprises, com-be innovative to succeed, they do need to garner

bined with its large, receptive, and digitally lit-

strong community support and adopt a businesserate consumer audience, means that individualmodel that is both comprehensive and inclusive

SEs – such as Xihaner Car Wash in Shenzhen– strategically embedding both their commercial– can be sustainable and replicated at scale tobusiness logic with their social purpose. They domake positive contributions to social problems

so through several strategic actions.

that we all care about.

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涓涓细流 以汇江海
寸寸丹心 同筑未来每月一捐Give monthly

支持中欧可持续发展Join us to support CEIBSFEATURED NEWSFEATURED NEWS32

33

“This is an urgent topic that the world needs toIn this context, the CEIBS Insights Paris Forum

address to ensure the future of the planet. It is

was held at dual venues in Paris and Shanghai in

not only important for us, but for our children

September, exploring major changes in the Chi-and their children,” he said.

nese economy in the post-COVID era.

Finally, in wrapping up the event, CEIBS Presi-

In his opening address, Former Prime Minister

dent Wang Hong said, “We know that this is anof France and CEIBS Distinguished Professor

CEIBS Europe Forums

This was the message delivered at the CEIBS

uphill battle for everyone; however, we see huge

Jean-Pierre Raffarin noted that competition and

Insights Brussels Forum in September on thepotential for future collaboration and we mustcooperation go hand in hand.

make offline return with dualvenue stops linking Paris,
Brussels and Shanghai

theme of China-Europe Cooperation on Decar-

have a long-term horizon and be able to workbonization. The event took place at dual venues

together at the government level as well as the“Dialogue and economic cooperation are vitalin Brussels and Shanghai.

business level to achieve the dual carbon goals.”

in today’s polarized world to have a balanced
global governance,” he said, adding that, “TheDuring the event, Interim Charge D’affaires ofthe Mission of the People’s Republic of China to
the EU Wang Hongjian emphasized the impor-

Brussels: China-EU cooperation on
decarbonization possible despite
differences

Paris: Dialogue and economic
cooperation vital to seeking
common groundmore we cooperate, the more likely conflict willdiminish.”
These words were echoed by Chinese ambassa-

tance of China-EU green cooperation.
Faced with a complex global landscape anddor to France Lu Shaye, who stated that major“One of the biggest lessons we can take fromgrowing instability, frontier technology andeconomies should work together to overcome
difficulties.

nearly 50 years of China-EU relations is that al-

green transformation have become both eco-

In the face of climate change, achieving net zerothough we may have different systems, this does

nomic growth points and battlefronts around thecarbon emissions and a green economic recovery

not prevent us from finding common ground,” heworld. At the same time, a healthy global eco-

“We should embrace economic integration, nothave become key post-pandemic issues. Goingsaid.

nomic recovery which answers the challenges

isolation; advocate openness and not be closed

green has become a new growth area and pointof climate change will require international dia-

off; pursue mutual benefit instead of exclusive-of competition, but can also serve as an oppor-

Former WTO Director-General and CEIBS Dis-

logue and cooperation.

ness; and seek stability and be against volatility,”tunity for international cooperation in building atinguished Professor Pascal Lamy also statedbetter world for all.

during the event that despite differences, China
and the EU share many major commonalities.

Mr. Lu said.
In closing the event, Consulate General ofFrance in Shanghai Pierre Moussy stressed that

“Decarbonization has become, and will remain

while economic growth has faded, restoring nor-for the times to come, the overarching main

mal trade and investment is important to healthyendeavour of humanity given the catastrophic

development.

impact of climate change. [...] The EU and China
have to succeed, for themselves and also for the“There are many examples of cooperation

rest of the world,” he said.

between China and France, such as offshorewind, batteries, energy, and green finance,” he

TheLINK Volume 2, 2022

CEIBS President (European) Dominique Turpin

explained. “We should support and further coop-then offered some brief words on the forum anderate to ensure fair market access and a balanced

the importance of its timing.

technological partnership.”

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Meet Our New Faculty
The CEIBS faculty team continued to expand in the second half of 2022. Read on to find out more
about the newest members of our faculty team!

Dr. Hu Kejia
Dr. Hu Kejia is an Associate Professor of Operations Management at CEIBS.

Prof. Dominique Turpin
Appointed New CEIBS
President (European)Prior to joining CEIBS, she was a Brownlee O. Currey Jr. Dean’s Faculty Fellow
and Assistant Professor at Vanderbilt University’s Owen Graduate School ofManagement. With a focus on unlocking business value from data, her expertiselies in service operations, artificial intelligence, and business analytics. She has
worked with industrial partners, including L’Oreal, Marriott, Dell, Alibaba andVanderbilt University Medical Center, with research published in journals such
as Manufacturing & Service Operations Management, Production and Operations Management, Applied Energy, and Energy Policy.

At the beginning of September, CEIBS wel-strategy. He is a board member of the EFMD

comed Professor of Marketing Dominiqueand sits on the International Advisory Board

Turpin as its new President (European). Prof.

of prestigious institutions such as the Stock-

Turpin replaced out-going President (European)holm School of Economics (SSE) and Waseda

Dr. Nana Yaa A. Gyamfi is a Lecturer of Management at CEIBS. Prior to becom-

Dipak Jain, who completed his term of officeBusiness School in Japan. He has also been

ing a lecturer, she was a Research Associate and Human Resource Liaison atearlier this year.

a member of the CEIBS Academic Council

CEIBS. Dr. Gyamfi’s research interests concentrate mostly on cultural identity,

since the school’s establishment.

identity theory, identity resources, multinational work contexts, and emerging

Born in 1957, Prof. Turpin holds a Ph.D. in

Dr. Nana Yaa A. Gyamfi

markets. She was a nominee for the FIU/AIB Best Theory Paper Award at the

Economics from Sophia University in Japan,

Prof. Turpin has extensive connections with the2021 Academy of International Business Conference and won an Emerald Literati

and a Masters from ESSCA in France. Between

corporate world and is currently active in con-Award for Outstanding Author Contribution in 2020.

2010 and 2016, he served as the President andsulting companies in sectors such as fast-mov-

Dean of IMD, where he had been a long-serv-

ing consumer goods, manufacturing and on-line

ing member of the school’s faculty. For his

education.

outstanding accomplishments in executive
education, he has also been awarded life-long

During his predecessor Prof. Dipak Jain’s

membership to the International Academy oftenure, CEIBS made remarkable progress by

Management.

becoming a top-tier business school in the international rankings. Prof. Jain made outstand-Prof. Turpin is well recognized for his exper-

ing contributions to the internationalization andtise in brand management, customer centric-

global branding of the school as well as to its

ity, marketing strategy and Asian businesscurricular development in emerging subjects.

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Faculty Appointments

Faculty Awards and Honours

A number of our professors were named to important new positionsin the second half of 2022! Read on to find out more about some ofour recent faculty appointments.

CEIBS faculty went above and beyond in the areas of teaching and research in the second halfof 2022. Take a look below to get a glimpse into some of the honours and achievements theyreceived in the second half of the year!

CEIBS President Wang Hong recognised for contributions to cruise industry

Professor Cheng Lin appointed Department
Chair (Finance and Accounting)

CEIBS President and Professor of Management Wang Hong was elected as theVice Chairman of the 3rd China Cruise Development Expert Committee at the
15th China Cruise Shipping Conference (CCS15). She also received a Special

Professor of Accounting Cheng Lin was appointed as the Department Chair (Finance andAccounting) effective from July 1. Prof. Cheng’s research focuses on corporate disclo-

Achievement Award at the 7th Asia Cruise Contribution Awards organised by
ACLN (Asia Cruise Leaders Network) in Korea.

sure, debt contracting, labour economics and auditing. His papers have been published in
top-tier academic journals, including The Accounting Review, Contemporary Accounting
Research, and Journal of Accounting and Economics. He has been invited to present his
research at institutions in Asia and around the world, including the National Universityof Singapore, University of Toronto and New York University. Prof. Cheng has extensive
teaching experience and he has taught at the undergraduate, graduate, and doctoral level.

Prof. Cheng Lin honoured as outstanding reviewer by premier research
journalProfessor of Accounting Cheng Lin was honoured as an outstanding reviewer
as part of the reviewer recognition programme for Contemporary Accounting
Research (CAR). In addition to serving as a member of the Editorial Board for
CAR, he is also an ad hoc reviewer for The Accounting Review, Review of Accounting Studies, Management Science, and Review of Financial Studies.

Professor David Erkens named Director ofService Excellence Research Area
Professor of Accounting David Hendrik Erkens was appointed as the Director ofProf. Huang Sheng co-authored paper wins big at annual forum

Service Excellence Research Area as of July 1. His research focuses on the design,

Associate Professor of Finance Huang Sheng was honoured as the Winner of

implementation, and use of control systems (particularly compensation arrangements),
boards of directors and operational controls. Prof. Erkens’ papers have been publishedin leading academic journals, including Journal of Accounting Research, The Accounting Review and more. His research has also been featured in media outlets such as
Agenda, CFO Magazine and The Economist, and his work has informed policy-makers
at organisations such as the European Commission.

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the Excellent Paper Award at the Third Annual Summit of Digital Finance Open
Research Platform (2021-2022) for a co-authored paper entitled BigTech, Gender, and Environmental Behaviour with Shaoyan Jiang and Qigui Liu. He has
previously won awards for his outstanding performance in research and teaching,such as the Best Paper Award at the Seventh Annual Conference on Asia-PacificFinancial Markets (CAFM) and the 2021 CEIBS Research Excellence Award.

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CEIBS Faculty in the Media

October 1

The second half of 2022 was a busy time for CEIBS faculty in the media. From the impact of the pandemic and the role of international business schools to China-Europe cooperation on environmental
protection and China’s aging population, read on for some of the key insights they have shared over the
past six months.

— CEIBS Professor of Management Zhao Hao | Harvard Business Review(Chinese Edition)

October 3
July 7“When making important decisions, you need to think about your company’s
development stage and the size of the business. Companies that purely rely onmarketing will not stand the test of the time. It is the product and service qualitythat have the final say. Moreover, you also need to have a clear understanding of
the market’s needs instead of making groundless assumptions.”— CEIBS Professor of Finance and Accounting Zhao Xinge | Bloomberg
Businessweek (Chinese Edition)

July 9“The COVID-19 pandemic and working from home have changed the way people
work. While introverted entrepreneurs have adapted more quickly, extroverts areforced to work alone in a quiet environment. The experience may allow people ofdifferent personalities to get over prejudices and learn to appreciate each other’s
traits and needs to seek better collaboration.”“China relies on implicit regulations to encourage innovation while containing
its potential risks. Firms doing business in China must embrace the nature of its
regulatory culture.”— CEIBS Associate Professor of Finance Viktar Fedaseyeu | The Diplomat

October 11“There is no shortage of money for consumption or investment. Nor is there a lackof desire to consume.”“Although modern Chinese companies have not overturned basic Western theories
of management, they have accumulated rich experience in emerging industries suchas the internet and AI. The combination of this experience with classic theories in
the form of case studies is a reinvention and innovation of management thinking.
— CEIBS President and Professor of Management Wang Hong | Forbes China— CEIBS Professor of Economics Zhu Tian | O Globo

October 13
July 20“Overemphasis on one sector, lack of human capital and lower productivity arethree main reasons for some of the provinces being trapped.”— CEIBS Professor of Economics Bala Ramasamy | South China Morning Post

“The metaverse is not only about the emergence, development, and application ofsimulation technologies, but also empowering the internet with the characteristics
of a digital society in the real sense; that is to say, a persistent and immersivesocial and economic system. In other words, the metaverse is essentially the digital
representation of various social formations.”— CEIBS Assistant Professor of Management Yang Wei | National Business Daily

September 8“China has the capacity for leadership in envisioning radical, world-changing
economic ideas based on cooperation and mutual benefits.”

October 13— CEIBS Distinguished Professor Dominique de Villepin | South China
Morning Post

September 29“Understanding paternalistic leadership not only helps executives to navigate
international business but also helps them to develop their own management
abilities.”— CEIBS Assistant Professor of Organisational Behaviour Michelle Zheng |Financial Times“I’m convinced that China should be able to become a world leader in addressing
the aging problem. We’re also exploring some policies and measures, such as
postponing the retirement age, improving the country’s pension security systemand building lifetime learning systems. With these policies combined, we can better
deal with the aging population.”— CEIBS President Emeritus Dipak Jain | Business Management Review

December 30“Everything we do on campus, and off campus, is designed to bring our students
deeper into China and more connected globally.”— CEIBS Professor of Strategy Shameen Prashantham | FindMBA

September 29“Domestic demand [for degree programmes] has been very strong. The only issue
is the delivery. With current controls, it’s very uncertain.”— CEIBS Vice President and Dean Ding Yuan | Financial Times

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I think it’s important to embrace the uniqueness you have as an international
talent at a Chinese company.

“That year the competition was sponsored by
WeChat. There was a competition to decide
which team of students would have the privilege of working with the sponsors to organise
the event. My team won, and it quickly became
apparent that WeChat was eager to use the competition as a platform to build international relationships,” Kevin recalls.

A foreigner’s guide to working
at WeChat
By James Kent

K

evin Shimota landed his dream
job after graduating from the
CEIBS MBA programme.

In his own words, he went frombeing “a lowly supply chain coordinator at
Boeing in the US” to working with the likes of
P&G’s CEO, Burberry’s CTO and the ‘Fatherof WeChat’ Allen Zhang at Tencent’s offices inSouthern China.
Following a four-year stint heading up We-

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Chat’s global marketing and partnership efforts(a role which involved, amongst other things,
creating what was possibly the biggest QR codeever), the MBA 2016 alum penned a book about
his experience entitled, The First Superapp: Inside China’s WeChat and the New Digital Revolution.
While it has taken him both far and wide,
Kevin’s involvement with Tencent (and WeChat)
all began with an MBA student-led businesscase competition called INNOVATEChina.

To promote INNOVATEChina, Kevin and the
WeChat team took a trip to the US to encourage MBAs from other top schools to enter thecompetition. The collaboration soon turned intoa summer internship, and eventually an offer torelocate full-time to Guangzhou.
As one of the first foreigners ever to work for theubiquitous Chinese platform, Kevin says his experience necessitated both a personal balancing
act, as well as a great deal of introspection.

to work on a unique campaign to attract visitors
to the world’s tallest building. When Emaar – thereal estate company behind the Burj Khalifa in
Dubai – recognised that 600,000 Chinese tourists
were visiting the tower each year, they wanted tooffer something special.
“They wanted more engagement, so we cameup with the idea of a mini-programme for
Chinese visitors. It offered them easy accessto purchase tickets for nearby attractions andMandarin-language audio guides. As part of thelaunch, a video was displayed on the building’s
33,000-square-metre LED screens, closing withpossibly the world’s largest call to action – a QR
code to open the mini-programme,” Kevin recalls.

“I think it’s important to embrace the uniquenessyou have as an international talent at a Chinesecompany. I don’t think you need to become Chinese, and you also don’t need to reject Chinese
culture, but rather discover what you think as
an individual is right and wrong. Be honest andopen in your communication,” he says.

For many, WeChat is today nearly synonymouswith the phrase ‘superapp’ (a term first coinedby Blackberry founder Mike Lazaridis in 2010
to describe an app that would offer a ‘seamless,integrated, contextualised and efficient’ experience). But, while the ‘Swiss army knife of apps’
continues to enjoy its incredible utility and popularity in China, Kevin says he doesn’t see the riseof a non-Chinese superapp as a given any timesoon.

Kevin’s time at the app also allowed him to growhis international network, including the chance“If we are talking about the first superapp born
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The next superapp will be a totally new platform that canstart off with the same platform strategy and friendly user
experience, anchored around a central service of chat or
ecommerce, or organising people’s lives.

ple or Google are in the driver’s seat. They havelarge ecosystems, they have payments, they havesoftware, and they have great user experience.
They are perfectly positioned,” he says.

a consultant, author and co-host of his own Asia
tech podcast, Kevin says the time he spent studying as an MBA at CEIBS has continued to play
an integral part in his career wherever he goes.

“However, Apple and Google are already operating systems. A superapp is an app that sits on topof those operating systems. It seems a bit weird
for them to have the operating system and thendevelop an app which functions like an operating
system to sit on top,” he explains.

“For me, I wanted a career in China. So, CEIBS
was a no brainer, given the strength of the brandand its alums working across all the major verticals. Now, I’m in Sydney, but still working ina role related to China. I continue to leverage
the school’s name and reputation as I connect
with those involved in China-related business allaround the world, accessing, for want of a betterphrase, a super network.”

In addition to potentially ruining the neutrality of
their ecosystems, Kevin adds that he believes big
tech companies like Apple, Google and others
are too attached to their current business modelsof advertising revenues and selling hardware to
make a serious foray into the world superapps.

e-Banking in
China’s Greater
Bay Area with
GEMBA 2021’s
David Zuo
By Effy He

A“Instead, I think the next superapp will be a
totally new platform that can start off with thesame platform strategy and friendly user experience, anchored around a central service of chator e-commerce, or organising people’s lives, andthen slowly adding on more functionality. In
short, iterating towards superapp status will be
crucial for its success,” he says.

ccording to ePayLinks CEO ande-banking specialist David Zuo(GEMBA 2021), entrepreneurshipis not just about enthusiasm or a
dream, it is also about understanding local culture, the industry/market you’re walking into andallocating resources.

acquired a technical background. After studying
computer sciences and working as a softwaredeveloper in Canada, he developed an interest in
finance which ultimately led him to the banking
sector. David then spent five years with ATB
Financial, a well-recognized Canadian financial
institution as a system analyst.

Despite now being based overseas, working as

Prior to getting into the payment business, DavidA strong desire to do something new, however,

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led him on a winding entrepreneurial journey
through mobile gaming, coffee and e-commerce.
During his time as an entrepreneur, he saw many
people succeed in starting their own businesses,
but he also saw many fail.
“When we talk about entrepreneurship, it’s notjust about enthusiasm and dream – you also needto understand culture and the status quo of theindustry/market you’re walking into. You alsoneed to utilise and integrate resources, includinginterpersonal relations, financial resources, andteams,” David explains.

Doing business in one ofChina’s most dynamic regions

provider, providing domestic and cross-border
payment solutions for Chinese and international
companies.

Originally from China’s Hubei province, David eventually returned to China and settled in
Guangzhou almost ten years ago. Since then, he
has experienced first-hand the attraction of the
Guangdong-Hong Kong-Macao Greater Bay
Area as a hot spot for business and investment.

“In the next three to four years, e-banking will
be required more than ever, as clients will be ingreater need of more solutions, especially those
providing better transaction charges, lower interest charges, and more streamlined procedures,”he says.

“The favourable policies of the local government
provides businesses with more freedom to innovate, and substantially encourages companies toexpand in the region,” David says.

Although Chinese digital payment platforms
such as WeChat and Alipay have made paymenteasier and more convenient for individuals,
transactions amongst businesses are more complicated.

The region’s numerous ports also facilitate thefree flow of goods and services, which requirecross-border payments and transactions, he adds.

The future prospects of e-banking
David joined ePayLinks as CEO in 2022, overseeing the company’s strategic planning andoperations. Established in 1999, ePayLinks is athird-party retail and internet payment service
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“The business needs for e-banking are all there –it is all about what we can do,” David says.
In addition, David foresees a promising futurefor digital currencies in business.
“We can see it over the last century – the US
dollar became dominant, but as [...] more companies do business with China, the RMB willcatch up and be as popular in the future […]. In
old days, we used cash and traditional tools suchas bank cards and cheques for payments, but inthe future, the digital RMB will be even more
popular.”“As the top business school in Asia, there wasno reason for me not to join. The programme
has provided me an opportunity to share ideas
and experience with people from different industries,” he says.

Going for CEIBS Global EMBA –A pursuit of diversity and global
connection“The experience so far has been amazing. Prior
to enrolling at CEIBS, most people I dealt with
were my clients or people from the same industry. But now I’m working with classmates fromall walks of life with different understandingsof the same topics,” David explains, adding thatdiversity not only helps people understand eachother, but also helps companies understand theirclients.

Looking to map the next move in his professional career path, David sought out a platform
which would allow him to connect with otherlike-minded people. In the end, he joined the
CEIBS Global EMBA programme to expand his
network and get global exposure.

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Thirty years of venture capitaladventures in Shenzhen

make medicine participatory and individualized
in the future.

Seeking a win-win path
In 2016, Share Capital supported CEIBS in establishing the CEIBS Alumni Smart Healthcare
Startup Club.
“We come from CEIBS, and have benefited fromCEIBS. We are a CEIBS alumni enterprise,”
Huang says, adding that the CEIBS experiencehas enabled him to obtain cutting-edge knowledge and develop his career.
In return, Share Capital has donated more than 15
million RMB to CEIBS to support the school’steaching, research and program development.

By Esther Tianrom national ministries and commissions to SOEs and foreign companies,
Shenzhen Share Capital Co-founder
Huang Fanzhi (CEIBS MBA 2003)
has experienced many career ups and downs – orwhat he calls “walking down the ‘pyramid’ stepby step” – during the past 30 years. Since launching Shenzhen Share Capital in 2011, Huang has
witnessed the rise and fall of the venture capitalindustry in China, while steering a local firm on
the way to success.

From accounting to business
Fund raising and startups and venture capitalmanagement – those are the key words he uses
to sum up his working day. “It’s my best state
and what I’ve been looking for over the years, I’mvery happy with it”, Huang says.
In 1989, Huang graduated in accounting and was
assigned to China’s Ministry of Machinery and
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Electronics. However, the prudence and persistence required to be an accountant proved far from
Huang’s character. “I’m a risk taker. I don’t want tostick to the rules nor be bound by rules,” he says.
In 1992, Huang left the ministry and subsequently took up senior finance positions at an SOE,
Philips and Walmart China. Despite excelingin his various roles, he eventually sought out anew path. After a stint managing investments for
Mindray Medicine Founder Xu Hang (EMBA
2022), Huang co-founded Shenzhen Share Capital together with other two CEIBS alumni.

Diving deep into
venture capital
When Share Capital was founded, China’s venture
capital industry was in full swing. During its firstsix years, the firm focused on emerging industries,
but lost ground in capital scale and size comparedwith other competitors. As the competition be-came more homogeneous, Huang’s team realisedthat it was impossible to excel in all areas, andshifted investment strategy from industry breadth
to professional depth. In 2013, Share Capital identified healthcare as a core field of investment.

Adapting to future trends
in healthcare
Despite an abundance of healthcare investment
opportunities, Huang says he believes it is necessary to look to the future, have an overall graspof the industry and focus on more niche investments. While many investors have adopted an“import substitution” strategy, Share Capital has
opted to focus on new frontiers, innovation andthe future.
In 2014, Share Medicine reoriented its investment strategy with a focus on precision medicine – an area Huang says he believes will
make diseases predictable and preventable, andLoneliness and optimism
Capital investment focuses on early stages ofdevelopment. At this point, it is hard to make decisions based purely on reason, as the investmentlayout is not very clear. As such, Huang says, excessively rational people are not suitable for early-stage investment. At the same time, he adds,
it is necessary to have clear investment logic
and a strategy based on insights into the future,a holistic view and an in-depth understanding ofsegmented areas.
Finally, Huang says he believes that an outstanding
investor must have acumen and insight into thedevelopment of their focus industry. He/she must
be equipped with strong communication skills
and sound logical judgement, be able to cope withloneliness and not rush to success. Ultimately, he/she has to make the value stand the test of time andkeep digging while others are harvesting.
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abroad, while covering customs clearance andairport transportation costs on their behalf. In
2022, Wang also donated 15 million RMB to
CEIBS to support the Gotofreight.com chaired
professorship.

Delivering success as a global
freight giant
By Fanghong He
or Gotofreight Founder Wang Chaojun (EMBA 2017), life is all about
making choices –and choices arewhat have made him who he is today.
Wang believes that companies should not only
make rules, but also stimulate human nature. Since
launching his logistics company (later rebranded as
Gotofreight) in 2002, he has invested in the development of his workers, even as it has grown from a
few dozen to a few thousand employees.
After going strong as a secondary freight forwarder in its first five years, however, Gotofreight
experienced a major downturn and found itself
facing financial trouble, as well as a dilemma
about whether to transform its business.
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Wang subsequently led the company’s turnaround from a secondary freight forwarder toa primary one, while many of its competitors
failed to make the leap. His perseverance hashelped Gotofreight develop in spite of hard times
and embrace exponential growth.

From resistance to falling in love
According to Wang, for an enterprise to maintainits competitive edge, its helmsman must never lose
his/her way. Moreover, he says, continuous learning is key to finding one’s direction.
“The knowledge of the past is not enough; if
we want to go further in the future, we must nothave a short board,” he says.

Prior to joining CEIBS, Wang resisted the ideaof spending two years at business school. However, at the urging of his brother (who is also an
EMBA alum), he finally decided to enrol at theschool’s Shenzhen campus.
“Studying at CEIBS is not about how muchknowledge I’ve gained, but about mastering logic,” Wang reflects, adding that his initial resistance to school almost cost him a big opportunity
to grow his business systematically.
He also says that studying alongside his peers at
CEIBS has made he realise that there is always
someone who is better than him. As a result, he
tried to stay humble and cast aside his former“boss mentality.”

Helping others to benefit oneself
Unfortunately, COVID-19 has hurt many industries in China, and the logistics industry is no
exception.
“Instead of being consumed by the pandemic, weshould use our available resources to do something meaningful; even if our enterprise fails, wewould still go out with a bang,” Wang once told
his brother.
During the pandemic, Gotofreight helped thosein need seek pandemic prevention supplies from

There is notemplate forthe future.
As global
e-commerce
and logistics
develops,
the market
will call forcompaniesthat canbetter meetcustomers'
needs.

“This limited amount of money is still withinreach of our business, and we donated to CEIBS
to provide more research funding for professors
so that they can disseminate knowledge to students, who in turn can create greater value forsociety,” Wang says.

From outperforming competitors toleading industry development
Wang says he believes that enterprises shouldtake social responsibilities in four ways: first,
by creating value for shareholders; second, by
creating tax revenue and employment; third, by
creating a platform for employees to develop
their careers; and finally, by innovating to promote sustainable development and striving to be
an industry leader.
Though the future is unclear, Wang has sketchedout a vision for Gotofreight, with an aim to
improve the efficiency of the logistics industry,
reduce circulation costs and create greater value
for customers and society through innovation.
“I opened up my horizons during my studies at
CEIBS and developed the idea of turning ourbusiness into a public company,” he says.
“There is no template for the future. As global
e-commerce and logistics develops, the market
will call for companies that can better meet customers’ needs. Filling the market gap is whatsets Gotofreight apart from other companies,” heconcludes.
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Alumni reunite at
CEIBS ShanghaiCampusN

early 300 CEIBS alumni returned to ShanghaiCampus in November for a much-anticipatedreunion gala. The event served as an opportu-

02

nity to renew friendships, gain new insights and appreciate classic art.
In her welcome speech, CEIBS President Wang HongAn awards ceremony to honour alumni

Limits about the experiences of fivestated that CEIBS is committed to upholding social re-donors was also held during the event.

CEIBS runners in the harsh Gobi de-sponsibility and sustainable development.

Twenty-three individuals and groups

sert and how pushing their physicalwere awarded the titles of Outstanding

and psychological limits have helped“We encourage and support our alumni to engage in

CEIBS Partner and Generous CEIBS

hone their leadership skills.

public welfare activities, and strive to build CEIBS into

Partner for their generous donations.

a well-respected business school,” she said.

As of October 31, nearly 36,000 in-“Leadership is an important behav-

dividuals had made donations, withioural skill that incorporates integri-

182 classes making a total of 198 do-ty, authenticity and grit,” Professor

nations and 42 alumni organisationsof Management Katherine Xin said,

making 79 donations.

while noting that CEIBS was the01

first business school in China to take
Alumni were also treated to a special

leadership from classroom to Gobi

concert featuring a series of masterfuldesert.

renditions of classical songs aimed atunveiling the beauty of change across“I hope that through leadership devel-

the four seasons.

opment, entrepreneurs will stay true tothemselves in the face of difficulties

Finally, the reunion featured the re-and challenges,” she concluded.

lease of a short film entitled Beyond

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CEIBS European alumni reunion
serves up life-long memories

CEIBS ESG Forum 2022 zeros inon sustainable consumptionAs the climate crisis and other global challenges comes to a head, solutions areneeded now... and they need to work on a
grand scale.

For the first time in three years, the CEIBS
European Alumni Reunion took place at our
Zurich campus in September. The event wasan opportunity for alumni to socialize, network andsharpen their skills together with their fellow peers.
“The impact of a business school is decided by asymbiosis of its alumni and its faculty [...] and CEIBS
alumni are actively engaged in all areas of society andmake continuous contributions to the development ofChina and the world,” CEIBS Zurich Campus CEO
Dr. Robert Straw said during his opening speech.
The reunion welcomed alumni from all over the globe
and was also a chance to reconnect with old friends
and make new ones.
“Seeing our alumni gathering at the Zurich campus andwitnessing the social power of the CEIBS alumni community as well as their knowledge exchange has beenvery energizing and inspiring,” said CEIBS Alumni &Partnership Manager for Europe Georgina Childs.

Many of the items on the event agenda were bothfamiliar and fresh, including social gatherings andlearnings with CEIBS Professors Katherine Xin, Jeff
Sampler, Gianfranco Siciliano and Wang Renxuan.
Representatives from organizations such as Bordier &Cie Banquiers Privés, Daimler AG, Ringier, Dow, Societe Generale, Swiss Re and Women in Sustainable
Finance (WISF) also contributed to the sessions.

Against this backdrop, CEIBS held its annual
ESG Forum in October. The event looked at ESG
through the lens of sustainable consumption – a
crucial measure of how fast and to what extent we
can adapt our way of living to a globally sustainable future.

The reunion featured workshops on topics such as
Web3, women on boards, sustainability and leading high-performance teams, as well as health andwell-being. It also included an early morning lakesidewalk and a special dinner in the heart of Zurich.

Opening the event, CEIBS Associate Dean
and Global EMBA Programme Director Bala
Ramasamy highlighted the essential nature of ESG
as a means of thinking, planning, building and preparing for the future.

“I’m impressed by the strength of the CEIBS alumni
community across the world. I’ve moved to multiple
countries and continents now and I’ve always beenable to tap into the alumni network for new opportunities or to get perspectives from other alumni,”
CEIBS MBA 2016 alum Rohan K. said, reflecting on
the time at the reunion.

“From the ongoing war in Ukraine to the global energy crisis, the inflation crisis, crises of every sort
are impacting economic stability. [Nevertheless,]
we must always maintain a long-term mentality.
Data shows that companies can achieve better longterm performance when they genuinely address theinterests of their employees, customers and otherstakeholders,” he said.

ESG is a mindset, not a gimmick

CEIBS President Wang Hong and CEIBS President(European) Dominique Turpin also shared some
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words on the role of the school in promoting ESG.
“ESG is not a slogan, it requires profound changes
in philosophy and subsequent action. These cannot
be achieved overnight. Similarly, they cannot be
achieved without all elements of an organisation
contributing their views and perceptions,” Prof.
Wang said.
“CEIBS can play three roles in supporting ESG
worldwide: By conducting meaningful ESG research for the wider academic community, communicating our findings effectively while monitoring
reactions to it, and, ultimately, influencing businessleaders to adopt ESG as a fundamental businessmindset,” Prof. Turpin added.

CEIBS ESG white paper released
The forum also served as the launch for the latest
CEIBS ESG white paper, compiled by Professorof Marketing and Director of the CEIBS ESG
Research Area Wang Yajin together with 30 other
CEIBS faculty.
“Too often, companies see ESG and survival as
contradictory. Our ongoing goal is to uncover effective, innovative ways to make business sustainable, rather than viewing ESG as a cost. This [report]
is the first step in showing all enterprises that thesetwo concepts can co-exist,” Prof. Wang said.
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Alumni representatives
meet in Shanghai to discusssocial responsibility, ESG
and morethat the forum is aimed at encouraging
CEIBS alumni to fulfil corporate social
responsibilities and help advance green
and sustainable development in China.

C

EIBS and the CEIBS Alumni Association (CAA) hosted the fourth CEIBS
Alumni Social Responsibility Annual
Conference and ESG Forum 2022 in Shanghai
in September.
During the event, CEIBS President Wang
Hong noted that while ESG is a global inter-

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est, adapting green and low-carbon initiatives
into business operations is vital for China’s
economic development. CEIBS President (European) Dominique Turpin added that ESG isa topic of common concern for both China andthe EU.
CAA President Zhao Lijun then explained

In addition, the Chinese version of the2022 CEIBS ESG White Paper was
released during the event. The reportfocused on China’s carbon neutrality
efforts, current practices of CEIBS
alumni companies, faculty research andmore.
The CEIBS Alumni Association 2022
Alumni Representatives Meeting also
took place in Shanghai in September,
attracting representatives from over
100 alumni organisations across China.

Zhao Lijun then outlined the association’s efforts in organizational development, social responsibility and alumni
services, as well as some key tasks for
its next stage of development.
The event also featured a donation cer-emony to honour Wang Chaofeng (EMBA13SH4), Gong Huimin (AMP09)
and 20 alumni organisations for theircontributions to CEIBS in 2022. Moreover, forty-two alumni organisations
were also awarded as outstanding
alumni organisations of the year.

Prof. Wang Hong shared some of theschool’s latest development plans andalumni efforts during the event, while
Prof. Turpin gave a speech in which
he emphasised the importance of thealumni community to the school.

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ESG awareness gets aboost as CAIC kicks off
sustainability lunch seriesT

he 2022 CEIBS ESG Forum in October
was the ideal opportunity for the CEIBS
Alumni International Chapter (CAIC) tobring together alumni working on Environment,
Social and Governance (ESG) for the first in a
new sustainability lunch series. The event, organised by the CAIC’s Sustainability Taskforce,welcomed Global EMBA, FMBA, HEMBA andMBA alums.
“The fact that we had attendees from so manydifferent programmes shows the breadth ofinterest in ESG amongst current students and
CEIBS alumni,” says CAIC Sustainability Officer Chris Dunn (Global EMBA 2020).
A wide range of industry sectors – including automotive, financial, healthcare, hospitality andmore – were represented at the event and discussion ranged from environmental assessment
methodologies for green buildings in China tocarbon emissions when shipping between China
and Europe and the respective roles of governments, businesses and individuals in adopting
ESG practices.
Several attendees have taken on ESG-related
responsibilities in their respective firms in recent years. All agreed that executives with ESG
experience are in high-demand, while acknowledging that most are adept in one or two out of
the three ESG components.

“Our chapter places great importance on sustainability as a key pillar of the responsible
leadership our school stands for,” says CAIC
President Cedric Devroye (Global EMBA
2015), adding that, “In Chris, our dedicated task
force has found an exemplary leader and expert
in this ever-evolving field.”
In addition to the lunch series, the CAIC’s
Sustainability Taskforce recently hosted a UN
Climate Change Conference (COP27) debrief
webinar and led a visit to the Carbon Neutrality
Expo in Shanghai.
As the only English-speaking chapter in China,
the CAIC serves as a platform for CEIBS alumni of all backgrounds to share knowledge andmake new connections.
Alumni and students can join the CAIC or the
Sustainability Taskforce by reaching out to
CAIC Secretary General Tina Walendy (Africa EMBA 2015) on WeChat at tinawalendy.

Thirteen CEIBS alumni-led companies
make 2022 Fortune Global 500 list

Thirteen CEIBS alum-led companies havemade the newly-released 2022 Fortune
Global 500 list, with eight moving up the
ranking compared with last year.
In terms of country of origin, China as a wholeonce again topped the list with 145 companies,
followed by the United States with 124.
With the world economy working to recoverfrom the COVID-19 pandemic, the combined
revenue of the world’s top 500 companies hit$37.8 trillion, up a whopping 19.2% from theprevious year (the largest ever growth rate in thelist’s history).
Listed Chinese business contributed 31% of thetotal revenue of Fortune 500 companies, surpassing US firms for the first time, with an average
profit of around $4.1 billion (USD).
Walmart, the largest retailer in the US, topped
the list for the ninth consecutive year. Chinese
energy giants State Grid, China National Petroleum, and Sinopec rounded out the top five. In
addition, 44 companies made their debut or rejoined the list this year, 14 of which were from
China.
Fourteen CEIBS alumni currently serve as Chairman of the Board, Vice Chairman, or Presidentsof listed companies.

“Our sustainability WeChat group has almost
200 members from our international community with a range of ESG-related expertise. It’s afantastic resource to draw on and seek advice,”
Chris adds.
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Oliver Rui

Yang Wei

CEIBS Professor of Financeand Accounting

CEIBS Assistant Professor ofManagement

Chinese private companies delivered a strong performance, SOEs
need to sharpen their competitiveedgeThis year’s Fortune 500 list featured five property developers – all from China, but three fewer
than in 2021. Despite a rise in their averagerevenue, these developers saw their average profit drop to $2.87 billion, a sign of thegloomy climate in China’s real estate market.
Six internet companies made it onto the list —US firms Amazon, Alphabet, and Meta, andChinese platforms JD.com, Alibaba Group, andTencent Holdings. These three Chinese giants
reached their highest rankings ever.
Pharmaceutical companies have emerged asstrong performers because of the pandemic. Of
the four Chinese pharma companies on the list,
China Resources was the highest-ranking firm(70), while Sinopharm cracked the top 100 (80)for the first time since after having been featured
on the list for ten straight years. It is clear that
COVID-19 vaccine business strongly boosted
Sinopharm’s performance.
A report from China National Biotec Group(CNBG), Sinopharm’s subsidiary, revealed that
CNBG vaccines have been approved for registration or emergency use by 117 countries, regions,and international organisations worldwide. Morethan 2.7 billion doses of CNBG vaccines havebeen supplied for domestic and overseas use,
generating $12.16 billion in profits. The othertwo pharma companies that made this year’s
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list were Shanghai Pharmaceuticals (430) andGuangzhou Pharmaceutical (467).
The banking sector contributed 31 entrants tothe list, 10 of which were from China, equalling the mark set in 2021. Among them, only
China Construction Bank and the Agricultural Bank of China rose by one spot from 2021,
while the rest fell.
It is also noteworthy that the private Chinesecompanies delivered an impressive performance. Compared to the 86 Chinese Stateowned enterprises (SOEs) on the list, which saw
average returns on sales of 4.3%, returns on total
assets of 0.95% and returns on net assets of 7.8%,
their 50 private counterparts averaged returnsof 7.2%, 1.7% and 12.7%, respectively. These
private companies clearly outperformed theSOEs and boasted higher profitability. Therefore, Chinese SOEs need to improve their competitiveness in the future.

Resilience against changes:
Tech giants well-prepared forfurther growth
The 2022 Fortune Global 500 list has seen asteady increase in both the number and revenue
share of Chinese companies on the list. Given
the ongoing pandemic and growing uncertainties
surrounding the global economic and politicallandscape, this achievement reflects the enhanced strength of Chinese companies as wellas the huge potential and resilience of China’s
economy.
Solid growth of both emerging andtraditional companies favourable policies
helped businesses build competitive
advantages
Internet giants such as JD, Alibaba, Tencent, andXiaomi moved up in the ranking and all recorded
over 20% revenue growth year on year. Xiaomi’srevenue, in particular, surged by a remarkable
42.8%. This shows the growing strength andexpanding market of China’s high-tech sector.
Leading companies’ devotion to building techcapabilities and making strategic plans over theyears have begun to pay off. It enables themto develop more efficient business models andsecure stable sources of profits despite today’s
economic uncertainties, so as to become morecompetitive in the global market.
What is more encouraging is the increase in
number and ranking of Chinese traditional
companies on the list, thanks to their digital transformation. Midea’s revenue grew by

28.6% and it moved up 43 places on the list compared with the previous year. Haier Smart Homeand Gree Electric also reported double-digit
revenue growth at 16% and 19%, respectively.
Intense competition and pressure for higher profitability have prompted traditional businesses toembrace digital transformation and break awayfrom path dependence in organisational operations. They have kept investing in technology
and talent to press forward with digital transformation, whilst exploring new growth drivers
by adapting to new market trends and consumer
needs. The stellar performance of these leading
players have demonstrated the progress and huge
potential of digital transformation in China’s traditional industries.
This year’s list also shows that China’s favourable policies for supporting new energy
and relevant technologies have helped private
automakers transform their business models and grow more competitive. For example,
Geely rose ten spots in the ranking from 2021
and BYD made its debut on this year’s list. Suchachievements can be attributed to the country’s
policy support as China strives to cut emissions
and achieve carbon neutrality, as well as the
improved technologies and industry chains forautonomous driving and new energy vehicles.
Risks go hand in hand with uncertainties,
companies need to juggle businessprofitability and social responsibility
It is noteworthy that the Fortune 500 list also
reveals some potential risks and challenges for
Chinese companies as they move forward.
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CEIBS honours alumni
companies, classes andindividuals for major donationsFirst, while leading tech companies maintained
high revenue growth, their profitability varied
greatly. Though JD’s investment in logistics andoperations systems has laid a solid foundation
for building competitive advantages, it also intensified the pressure on its short-term earnings.
Uncertainties created by the changing global
landscape also pose a grim challenge to thedevelopment of Chinese tech companies, evidenced by the decline of Huawei’s revenue on
the list, and Alibaba being at risk of delistingfrom US exchanges. These issues sound an alarmfor other Chinese tech companies, whose business expansion and fundraising abroad may be
curbed, challenging their profitability and revenue growth.
Second, some top 500 companies have yet tofigure out how to maintain growth and market
opportunities driven by the pandemic. Thanks
to rising demand for shipping containers spurredby the pandemic, China’s state-owned company
COSCO saw its revenue increase over 75%, andprofit raise by over 300%, helping it to the 104
spot on the list. Chinese pharmaceutical R&D
companies also fared well in this year’s ranking
due to growing demand for vaccines. How theyretain and leverage such growth points will be
critical for these companies in the post-pandemic
era.

profits and fulfilling social responsibilities. Economic uncertainties and rising costs of market
expansion have made it harder for companies
to make profits. Some have downsized to cut
costs and boost business efficiency, fuelling
unemployment and risking breeding social tension and discontent.
To navigate this challenge, companies needto optimise their organisational structure,build sound incentive mechanisms, maintain ahealthy corporate culture, improve operating
efficiency, and make rational use of labour
resources to seek new growth points. These are
all key to building sustainable competitive edges
and contributing to social development amidst
growing uncertainties and risks.

CEIBS honoured numerous alumni companies, classes and individuals for their contributions to theschool in 2022.

In September, 20 alumni companies and individuals were recognized in September as part ofthe school’s annual alumni representative meeting. Shenzhen Best Services donated 15 million
RMB to CEIBS Education Foundation to set
up the Gotofreight chaired professorship, while
Elite Capital donated 5 million RMB to support
alumni activities.

A donation ceremony to support the school’ssmart healthcare development efforts was also
held in Shanghai campus in August. Shenzhen
Share Capital donated 3 million RMB to support the Smart Healthcare Startup Programme.
Meanwhile, Peninsula Medicine donated500,000 RMB to advance the CEIBS ResearchCentre for Smart Healthcare.

EMBA 2019 Class 5 also gathered at Shanghai Campus for a special donation ceremony in August.
The class has pledged donate to the CEIBS Education Foundation for five consecutive years to
support the school’s development.

Last but not the least, the recurrence of the pandemic and changing market needs have exposedcompanies to the dual challenge of growing
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Highlightsfrom Our Five
Campuses
Around the
World

63
New institute to contribute to national social security
and aging financeA new research institute on social security and aging finance wasinaugurated at CEIBS Shanghai campus in August as part of theschool’s efforts to contribute to the pressing social challenges
brought on by China’s aging population. Directed by CEIBS
President Wang Hong, the institute will bring together insightsfrom industrial experts, policymakers, international think tanks,
universities, and entrepreneurs to build a network and an exchange
platform for social security research between China and the rest of
the world.

CEIBS Shenzhen Campus hosts first-ever EMBA orientation event
CEIBS Shenzhen Campus hosted its first-ever
EMBA orientation in August, with 66 newstudents from Shenzhen Class 1 of EMBA
2022 gathering to embark on their new
learning journey. From check-in and photoshooting to team building and IT operations,the memorable event marks an innovative
breakthrough for the Shenzhen Campus, andwas well received by new students.

SHANGHAI CAMPUS
BEIJING CAMPUS

CEIBS alumni explore high-performanceteams at European workshop series

SHENZHEN CAMPUS

CEIBS hosted a five-stop series of workshops for Europe-

ZURICH CAMPUS

based alumni in 2022 on the theme of Building andLeading High-Performance Teams and Cultures. The

ACCRA CAMPUS

events, which were amongst the first to be held offline
around Europe since the beginning of the COVID-19
pandemic, attracted more than 70 participants and visited
Barcelona, Milan, London and Paris, in addition to aworkshop at the school’s campus on the shores of Lake
Zurich.

CEIBS Insights Beijing Forum explores industrial reconstruction under the ‘dual carbon’ targets
The second edition of the CEIBS Insights Beijing

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CEIBS Accra Campus joins partnership to
support local SMEs

Forum was held in July, with speakers from politics,

In a bid to create some 50,000 jobs in Ghana throughbusiness and academia gathering to discuss re-

skills development and access to finance, ABSA andengineering industrial advantages under China’s

MasterCard Foundation partnered to form the Youngcarbon peaking and carbon neutrality strategy.

Africa Works (YAWs) project in 2020. CEIBS Africa

CEIBS President Wang Hong, Vice Chairman

joined the partnership as an academic partner in late-2021,of the China Development Research Foundation

and as of November 2022 more than 800 business owners

Liu Shijin, and Former WTO Director General

have benefitted from the programme. With some 5,000

and CEIBS Distinguished Professor Pascal Lamy

SMEs ultimately expected to participate, the programmedelivered keynote speeches. The event also featured

focuses on entrepreneurship and organizational, financial,

two round-table discussions where panellists sharedand behavioural change to help participants become

industry trends and corporate practices on the topic.

investor-ready by 2025.

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CEIBS Briefing

Greater resilience needed to thrive in an
unpredictable future
EQUIS reaccreditation reaffirms CEIBS’internationalisation efforts, commitment
to excellence
CEIBS successfully renewed its EQUIS accreditation
for the next five years in July. The EQUIS label wasawarded to CEIBS by the EFMD in recognition of its
commitment to excellence and continuous improvement
as an international business school.

In an increasingly volatile world deluged by uncertainty, resilience is the new growth strategy, former
HP Global Futurist and Rouge Waves author Jonathan Brill told an audience during a webinar in
September. The event, part of the CEIBS Professors
on the Future Outlook series, featured a fireside chatbetween Mr. Brill and CEIBS Professor of Management
Practice in Strategy Jeffery Sampler exploring how cancompanies prepare for future unknowns and survive (andthrive) amidst radical upheaval.

New institute to contribute to nationalsocial security and aging finance

CEIBS steps up cooperation with Harvard
and Ivey case libraries

A new research institute on social security and aging
finance was inaugurated at CEIBS Shanghai campus in
August as part of the school’s efforts to contribute to thepressing social challenges brought on by China’s aging
population. Directed by CEIBS President Wang Hong,the institute will bring together insights from industrial
experts, policymakers, international think tanks, universities, and entrepreneurs to build a network and an
exchange platform for social security research between
China and the rest of the world.

In September, Professor of Accounting and Director of
the CEIBS Case Centre Chen Shimin visited both Harvard Business Publishing Education in the US and Ivey
Publishing in Canada. The visits produced consensus on
stepping up cooperation in a number of ways, including
the creation of an “express channel” for the inclusion of
selected ChinaCases.Org cases in the Ivey Publishinglibrary and the acceptance of non-CEIBS cases submitted
by ChinaCases.Org for review by the Harvard case libraryfor the first time.

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CEIBS MBA 2022 graduate employment
rate hits 93.8%

CEIBS claims #2 spot in FT global EMBA
ranking for third consecutive year

Despite complexities in the job market arising from the pandemic, the 2022 employment rate maintained the high bar set
in recent years, following 91.4% in 2020 and 95.5% in 2021.
Technology, financial services and healthcare maintained
their places as the top three industries, attracting nearly 70%of this year’s CEIBS MBA graduates. Backed by extensive
resources, a rigorous curriculum to hone leadership potential
and a powerful alumni network, 75.8% of graduates were also
successful in switching careers.

CEIBS once again claimed the #2 spot in the Financial
Times’ global ranking of Executive MBA programmesfor 2022 in October. The announcement marked the third
consecutive year CEIBS has landed in the #2 position.
The school’s Global EMBA (GEMBA) programme is
now the top-ranked single-school EMBA programmein the world. CEIBS also remained #1 in Asia in the FT’s
MBA ranking earlier this year.

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CEIBS forum explores female leadershipin VUCA times

Building organisational resilience key tothrive in VUCA world

The Women in Leadership Forum 2022 was held at
CEIBS Shanghai Campus in November, bringing together a host of inspirational speakers from various industries to share experiences and discuss female leadershipin the VUCA (Volatility, Uncertainty, Complexity andAmbiguity) era. Co-organised by the Global EMBA and
Executive Education programmes, the event aimed toencourage women to give full play to their leadershipskills and exercise a strong mind.

Building organisational resilience is key to thriving in a
VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) world, according to views shared by CEIBS faculty during the Pudong International Talent Hub Forumco-organised by Shanghai’s Pudong District government
and CEIBS in early December. The annual forum brought
together experts, scholars, business leaders and humanresource executives from leading companies to exchange
views on the latest talent strategies and trends related tointernational talent development in Pudong.

Shenzhen forum explores innovation andtalent development in Greater Bay Area

Roundtable marks 15th anniversary of
CEIBS Lujiazui International Institute of
Finance

The CEIBS Innovation Forum 2022 series kicked off in
Shenzhen in mid-November with a focus on economic
and talent development in Guangdong-Hong Kong-Macao Greater Bay Area. Lured by the economic dynamismand enthusiasm of entrepreneurs in South China, CEIBS
Shenzhen has grown from a small regional office into an
influential organisation for educational management overthe past 20 years.

CEIBS Lujiazui International Institute of Finance (CLIIF),
a platform for academic exchange initiated by CEIBS andShanghai Lujiazui Group, celebrated its 15th anniversary
in December with a special roundtable meeting at CEIBS
Shanghai Campus. Attended by academics and businessleaders, the event also inaugurated a new academic exchange platform CLF50 aimed at facilitating greater transformation of Shanghai into an international financial centre.

Sci-tech innovation drives the building ofa healthy China

CEIBS Professor Dipak Jain honoured
with Shanghai Magnolia Silver Award

Innovation in science and technology will drive thebuilding of a healthy China, according to views sharedby academics, experts, government officials and businessleaders during the second CEIBS Health Policy Roundtable held in early-December. Co-organized by the CEIBS
Healthcare Sector Research Centre and Bayer HealthCare,the event focused on the role of science and technology inboosting the development of the health industry.

CEIBS President Emeritus and Distinguished Professorof Marketing Dipak Jain was awarded the Shanghai Magnolia Silver Award by the Shanghai Municipal People’s
Government in December, becoming the seventh CEIBS
representative to receive the honour. Initiated in 1989, theprestigious award, which is named after Shanghai’s official
flower, is given annually to foreign nationals in recognitionof their outstanding contributions to social, economic, andforeign exchanges and cooperation in the city.

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