BiMBA held the third session of regional alumni meeting in January 2011 at the conference hall on the second floor of China Life Insurance Center located at Beijing Financial Street. The area gathers over 530 prestigious companies and institutions, including the head offices of nine national commercial banks, 58 enterprises subordinated directly to CPC Central Committee, 19 listed companies, head offices of four leading communication enterprises, 38 departments and financial regulatory organizations of central government, as well as a large amount of upstream and downstream companies engaged in finance and telecommunications. Lots of BiMBA graduates work in the area and the activity attracts much attentions and high attendance. The participants include US Dean John Yang of BiMBA, Professor Huang Yiping of National School of Development (NSD) at Peking University, teachers from BiMBA offices of career development, alumni affairs, recruitment, and public relations, as well as more than 70 BiMBA graduates and students.
Director Liu Changyan from Alumni Affairs and Career Development announced the coordinators in the area and they are Sun Baodong (MBA part-time Class 2000), Xia Ying (MBA part-time Class 2001), Li Jingrong (BMA full-time Class 2005), Jing Tian (EMBA Class 2007), and Mei Dewen (EMBA Class 2010).
Dean John Yang said BiMBA would celebrate its 12th anniversary this year and the excellent graduates wouldn’t be forgotten. He wished that BiMBA would grow along with its graduates so as to obtain more achievements in future. The participants of the activity are from Class 1998 through 2010 and the purpose to launch the platform is to promote exchanges and communications among graduates. Dr. Yang also took the chance to emphasize three teaching focuses of BiMBA, to produce elites with international visions, to cultivate leadership and qualified leaders with judgment, and to be enterprising, innovative, and independent. He pointed out that the world became increasingly complicated and those failing in seeing the bigger picture would be incapable of grasping any opportunities. Current economy features uncertainty and information diversity, which makes it critical to get correct information and to make correct decisions. National School of Development engaged in the studies of national economy serves as an important resource and support to BiMBA and the professors from the NSD will share their cutting-edge findings and thoughts more often in future.
Another distinguished guests participating in the event was Professor Huang Yiping from National School of Development at Peking University. He used to take the posts of Managing Director at Citigroup (2000-2009), manager of Asia-Pacific Economic and Market Analysis Division, and chief economist. Returning from 2010 China-US Economic Forum, Professor Huang shared with the participants the latest news and the discussions between NSD professors and US politicians and economists as well as his understandings of current macro-economy in China.
Professor Huang mentioned that a regular agenda at every morning meeting of investment bank is three-minute summary of new changes occurred to the world economy. So he wanted to brief to the participants about the national economic growth in China. Going through two rounds of Sino-US economic dialogue, he had the feeling that US economy would be fine in a long run in spite of many short-term problems. He talked about two main issues of unemployment and debt and said, according to the analysis of labor market and investment, although it seemed impossible to solve the unemployment in near future, yet US labor market kept improving. In terms of investment, apart from real estate, the situation is improving. As for how to solve the debt issue, he admitted that this was a big problem and couldn’t see any quick solution.
Professor Huang said that the US faced two big problems of finance and innovation. In the sector of finance, the usual practice is that the US is in charge of allocating resources but it’s uncertain whether the practice can go on. As for innovation, this is where the leading strength of the US lies. With the cutting-edge technologies, the US has always been the driving force in the field. But in past two decades, the leading strength has gradually failed when its distance with Japan and India keeps shrinking.
Professor also mentioned that he was greatly impressed by the attitude of US officials, who pay special attention to Chinese economy. First of all, they believed that Chinese government overacted about the exchange rate of Chinese yuan and they said this was wrong. Secondly, they emphasized the issue of intellectual property protection. They said American businessmen had always supported the economic cooperation between two countries but this was not the case right now, for they started to complain Chinese policies on independent innovation, which greatly affected American intellectual property right. These are the main economic conflicts between the two countries right now and in next few years.
Before concluding his speech, Professor Huang said that inflation had always been a problem for China and the rapid growth would inevitably bring along a series of problems. When the supply and demand of CPI changes, currency lies at the root and that’s why the government will continuously make adjustment to its monetary policies. The good situation is that the inflation holds its rein in the middle of the year and the economic growth slows down. The bad one is that inflation continues and the government introduced more policies and administrative methods, which will add more pressure on capital during the second half of the year. He said the three main tasks this year were securing growth, adjusting structure, and guarding against inflation.
In his concluding speech, Dr. John Yang proposed a unique pattern for BiMBA alumni activities in future, that is, to combine regional activities with those categorized by trades and interests. He also promised that BiMBA would offer more supports to regular gatherings of graduates and urged the participants to make contributions to alumni activities. After all, to create a social network and to facilitate communications among graduates is the common wish of all.