King Cheung, Chairman of the Board of Cedar Holdings, visited the headquarters of the World Economic Forum (WEF) in Geneva on August 3rd and held talks with Professor Klaus Schwab, the WEF Founder and Executive Chairman. Both sides discussed fostering cooperation and exchanged views on topics such as the global economic situation, environmental and climate change, technological innovation, and the Guangdong-Hong Kong-Macau Greater Bay Area.

Professro Schwab and Chairman Cheung at the headquarters of WEF

Professor Schwab extended a warm welcome to Chairman Cheung and congratulated Cedar Holdings on being listed on the Fortune Global 500 for four consecutive years. Professor Schwab inquired about Cedar Holdings’ industrial breakthroughs and overseas business development in recent years, and spoke highly of Cedar’s achievements in the face of the COVID-19 pandemic.

Professor Schwab pointed out that the biggest threat to the global economy is the climate crisis, and that COVID-19 has intensified worries. In the post-COVID-19 era, we should advocate a more equitable, inclusive, and sustainable economic development model and strive for the well-being of society as well as a healthy planet. As a platform for international cooperation, the WEF stands ready to work with global stakeholders, represented by Cedar Holdings, to tackle environmental and climate challenges, promote green and low-carbon action, and contribute to sustainable economic growth and natural ecosystem protection.

Chairman Cheung said that Cedar Holdings has maintained steady development in recent years thanks to policy dividends from a new development pattern in China and the sound business environment in Guangzhou and Guangdong Province. In line with overall trends, Cedar Holdings is moving quickly to promote industrial transformation and has made breakthroughs in the fields of global supply chain expansion, technological innovation, and green and low-carbon development. The current pandemic is a severe test for the global economy, bringing into sharp focus the importance of international cooperation and the urgency of green development. Cedar Holdings stands ready to foster cooperation with the WEF, integrate into the global innovation system, and contribute to green, low-carbon and sustainable development.

Cedar Holdings hosted Guangzhou Night at 2019 Summer Davos in Dalian

As a partner of the WEF, Cedar Holdings hosted Guangzhou Night at the 2018 and 2019 Summer Davos and 2020 Winter Davos, demonstrating a new vitality to Guangzhou in the course of globalization. These events left a deep impression on Professor Schwab, who said that he had visited Guangzhou in 1981 and 2016 and was deeply impressed by the rapid economic and social development of Guangzhou as well as the great changes in the cityscape. The speed of Guangzhou’s progress epitomizes economic development in the Guangdong-Hong Kong-Macau Greater Bay Area and even China as a whole.

Chairman Cheung said that, as a Guangzhou-based company, Cedar Holdings has a keen awareness of the new vitality that Guangzhou, an ancient capital of commerce, possesses in the modern era. As one of the core engines for regional development in the Guangdong-Hong Kong-Macau Greater Bay Area, Guangzhou is pooling citywide efforts to promote the advancement of the whole region. A brighter future lies ahead, and Professor Schwab and the WEF were invited to Guangzhou to witness these new changes.

Cedar acquired Stemcor in Guangzhou Night of 2020 Winter Davos

Visiting the headquarters of the World Economic Forum was an important stop in Chairman Cheung’s recent tour of Europe, during which he also visited Cedar Holdings’ business partners in many European countries and held discussions on strengthening cooperation.