On March 11, China’s Two Session 2021 was concluded.

King Cheung, Chairman of the Board of Cedar Holdings and a member of CPPCC National Committee, fulfilled his duty during China's annual parliamentary meetings by making suggestions on key national strategies, which attracts attention from several media like People's Daily, Xinhua News Agency, CCTV, Economic Daily, Nanfang Daily, Guangzhou Daily, just to name a few.

Suggestion 1: to facilitate dual circulation

2021 is the year when China's 14th Five-Year Plan was tabled to the legislature and marks the start of a new journey of socialist modernization.  As emphasized by China'sPesident Xi, it is a priority of China at the moment and in the near future to come up with new development philosophies based on a new development stage, put them into practice, build a new development pattern and strive for high quality development.

What could be done in supply chain and industrial chain to help the construction of a new development pattern? King Cheung suggested deepening the coordination between overseas supply chain and domestic industrial chain, which is paramount to dual circulation strategy implementation of China. He also suggested removing barriers for cross-border resource flow and trade; having a thorough understanding of overseas supply chain; supporting relevant enterprises to expand their overseas businesses; raising the voice of leading Chinese companies in the global supply chain system.

Suggestion 2: to improve technological innovation of the Greater Bay Area

How does Guangdong identify its position in the construction of the new development pattern? Li Xi, Communist Party Secretary of Guangdong, proposed creating demonstration areas compliant with relevant rules, establishing new advantages in international cooperation and competition, as well as implementing the national development strategy designed for Greater Bay Area with efforts of the whole province.

King Cheung also came up with several approaches which were reported by People's Daily and Economic Daily. He believes that incorporating the Greater Bay Area to the global innovation system and striving for self-reliance on technology through opening-up and cooperation could not be more important. In terms of specific measures, he suggested breaking the limits of admistrative regions division system, building an open and innovative demonstration zone of a high standard, and allowing resources to flow freely among 9 provincial cities and 2 special administrative regions in the Greater Bay Area. He also suggested encouraging innovative companies to take the initiative in international technology cooperation, which could enhance their innovation capability. Another advice is to boost in-depth cooperation in innovation activities between Guangdong and Hainan,   so that an international innovation resources cluster will take shape.

Suggestion 3: to drive rural revitalization campaign

As the key to China's efforts concerning agriculture, rural areas and farmers in the New Era, how should rural revitalization be put in place? Solutions proposed by King Cheung are as follows: to remove difficulties for private enterprise to participate in the rural revitalization campaign; to build an effective motivation mechanism for private companies to participate; to give all-dimensional support to private companies and farmers; to make private companies the driver and leader in the campaign.

Suggestion 4: to innovate in supply chain financial services

For the very first time, the report on the work of the government 2021 proposed developing new models for providing supply chain financial services and promised to take a variety of measures to see that micro and small enterprises have easier access to financing. According to King Cheung, developing supply chain financial services with technological innovation will help resolve the financing difficulty of micro and small enterprises. He also suggested accelerating efforts to put in place policies, intended to encourage supply chain financial development, which is expected to be platform-based, digitalized and block chain powered.