Business professionals, students and professors gathered at the Anderson School of Management on Thursday and Friday to discuss the expanding economic relationship between the United States and China.
The annual Wilbur K. Woo Greater China Business Conference was hosted for the first time by the Anderson School in conjunction with the Greater China Business Association, a student group within the Anderson School. Since 2001, the conference had been held by the UCLA International Institute.
More than 200 attendees participated in the sold-out conference, which included panel discussions focusing on four key economic topics: the presence of the American sports industry in China, investments in venture capital and private equity, real estate, and media and technology.
Speakers included many major Chinese and American entrepreneurs, including several UCLA graduates.
“There’s a lot of opportunity in China. … It’s a wide-open market with very few limitations,” said Chris Renner, president of Helios China, a sports marketing consulting agency based in Beijing.
Renner received his MBA from the Anderson School in 1991 and credits the school for placing him in a job with a sports marketing firm straight after graduation.
Sam Sun, vice president of business education of the Greater China Business Association and conference coordinator, said China’s economic development continues to be noticed by business leaders.
“You cannot ignore (China) even if you try,” he said. “We must take a proactive approach to (its growth).”
Sun introduced Friday’s keynote speaker, Leo Abruzzese, the financial service director and editorial director of North America for the Economist Intelligence Unit.
Abruzzese made a five-year forecast on China’s impact on the global economy and how the country’s fast-paced economy will continue to grow.
Laurie Dowling, executive director of the Executive Education Programs at the Anderson School, said UCLA’s significant history with China has made it an appropriate location to host the conference.
“People from China have been a part of UCLA for as long as UCLA has been here,” she said.
Like China, Los Angeles is experiencing strong growth in four key areas, which suggests a parallel between the two, Dowling said.
With the changes in China’s economy, Renner said many universities are adapting their business programs to follow along and he believes UCLA’s business school should have a more noticeable presence in the country.
“UCLA has a low profile in China versus Harvard and Yale,” he said.
Sun said his organization offers many programs for business students interested in China, including a nine-day spring break trip and networking events.
While a majority of conference attendees were scholars and members of the business community, students from UCLA, USC, UC Irvine and Pepperdine were also in attendance, Sun said.
Students participated in a career panel and a networking session.
“It helped students understand what a China-related career is and how to get involved,” Sun said.
Organizers said the conference was unique among other business conferences focusing on China.
“The conference is jointly designed by the business school and students,” Sun said. “It’s hands-on-oriented, versus macro- or research-oriented.”
Another unique aspect of the conference is its inclusiveness of all parts of China, including Hong Kong and Taiwan, Dowling added.
While the political conditions in China were not a focus, Dowling said discussions included how social life is affected by the rapidly changing economy.
“Several speakers have said how the economic growth is changing the social fabric of the country,” she said, pointing out the development of China’s middle class.
She said it was important to notice China’s evolution into a major economic capital.
“In 2039, China will be the world’s largest economy,” she said. “It is incumbent on everyone to have an understanding of it.”
The conference is named after its founding donator, Wilbur K. Woo, vice chairman emeritus of Cathay General Bancorp and a UCLA alumnus.