CDF Voice｜BCG’s Hans-Paul Bürkner: China has shown the world what it has achieved through determination, innovation, and cooperation

The “CDF Voice” column aims to bring together business leaders and convey the voices of the forum delegates.

Since its launch in 2000, CDF have upheld its mandate of “Engaging with the world for common prosperity”.

At present, the economic recovery is still fragile, and the impact of the COVID-19 and geopolitical crisis is continuing. Although China’s economic recovery is improving, lackluster demand, slow recovery in labor market and global supply chain adjustments and other pressures are still present.

The world is experiencing unprecedented change, how do foreign enterprises in China view China's development? How can foreign enterprises grasp the opportunities and challenges in the Chinese market? What insights do they have about China's future economic recovery and social development?

As the 2023 annual meeting of the China Development Forum is about to be held, the "CDF Voice" column invites representatives of global enterprises to discuss the above topics.

The guest of CDF Voice today is Hans-Paul Bürkner, Global Chair Emeritus of BCG.

Hello, I am Hans-Paul Bürkner, Managing Director and Global Chair Emeritus of the Boston Consulting Group. I would like to express my gratitude for being invited to this year's China Development Forum.

As we all know, the past year has been a challenging one, as China has been grappling with the impact of the Covid-19 pandemic. However, despite the adversity, China has displayed remarkable resilience, and has shown the world what can be achieved through determination, innovation, and collaboration. And China will remain a key growth driver of global economy.

China's vast market and ongoing economic reforms will keep providing ample opportunities for foreign and domestic companies alike. This year, BCG celebrates more than 30 years of operation in China. As the first leading consulting firm licensed to be present in China, BCG has brought to life innovative, transformational ideas with a lasting impact on our clients and partner ecosystems and we are committed to making greater impact over the next 30 years in China.

As China’s economy becomes more innovative, talent-intensive, consumption-driven and green, four powerful forces have emerged that are profoundly shaping our path forward.

The first is sustainability, which entails pursuing a high-quality development model and a greener, more balanced, and more resilient economy. China is shifting its growth model from “speed” to “quality”. As a consultancy, we remain deeply committed to supporting sustainable and inclusive economic growth. While there is no shortage of ambition to succeed, business leaders must connect their sustainability ambitions to drivers of business, value and competitive advantage.

The second is digitalization. The pandemic has necessitated the exploration of new ways to interact with clients and internally. The emergence of new business needs has also driven us to seek new forms of delivery and solutions. We are thus broadening our digital strategy, investing in digital teams, and promoting new innovations. We launched BCG X last year, a hybrid tech build & design unit that brings together nearly 3,000 technologists, builders, and designers.

The third is talent development. The demographic development in the Western world and also in East Asia and China require all of us to give more attention to recruiting, retaining and developing talent at all levels. BCG is supporting many institutions and companies to up their game and improve their employee value proposition.

The fourth is supply chain optimization. As customer needs change, as labor, land and capital costs increase and as the risks of disruptions multiply, all companies must re-evaluate their global, regional and local supply chains continuously and make adjustments wherever and whenever needed.

At BCG, we believe that globalization will continue, but the flow of products and services, labor and capital flows will undergo massive changes. The future presents many opportunities to maximize value generation for all our clients. Working together, we can move in a new direction and deliver on our shared goal of achieving a better, more sustainable, and more digital future for all.

Meanwhile, this is also the right time to be in the strategic consulting business. Business leaders in all industries now need support to address the complex issues in sustainable development, digital transformation, talent development and supply chain optimization. These all are our priorities and growth opportunities – turbocharging BCG’s deep industry and functional expertise. In partnering with our clients, we help them to launch their next big bets and seize the opportunities in China.

As BCG’s purpose goes: Unlocking the potential of those who advance the world.

As an important platform for building consensus and cultivating collaborations, the CDF will be a timely event for the Chinese and global business communities to find common ground. I wish the CDF 2023 every success, and everyone a prosperous year ahead.

Thank you very much and I look forward to seeing you all at 2023 China Development Forum.