Deloitte highlights Power of the Digital Economy @Summer Davos

The 12th Annual Meeting of the New Champions (Summer Davos 2018) was held in Tianjin on 18-20 September. On the second evening Deloitte, a strategic partner of the World Economic Forum (WEF), joined China Business News (CBN) as host of the New Champions Entrepreneurs Dinner on 19 September under the guidance of the Tianjin municipal government. Business leaders, representatives from leading organizations and distinguished scholars joined the dinner, exploring The Power of the Digital Economy and sharing their views on its healthy growth.

Vice Mayor Sun Wenkui, Deputy Secretary-General Xu Jun and several heads of Tianjin municipal government departments attended the dinner and met Deloitte leaders. The Vice Mayor thanked Deloitte for its dedicated support to Tianjin's economic growth over the years, remarking on our professional service excellence.

Deloitte China CEO and Head of Delegation Patrick Tsang delivered the welcome address, citing the benefits of a healthy digital economy to smart manufacturing in China and enterprises' digital transformations, as well as reaffirming our commitment to driving technological change across the globe with innovative governance.

"With the launch of 'Digital Difference' this year, Deloitte will improve and demonstrate our differentiated service capabilities by effectively incorporating digital, analytics, cloud, cyber security and regulatory compliance across 10 key areas including digital transformation, fintech, smart cities, future of mobility, artificial intelligence, Industry 4.0 and future of retail," Patrick said.

"We expect to empower enterprises in these areas with new, integrated digital solutions, placing them at the forefront of innovation for a healthy digital economy ecosystem."

The new wave of technological change and industrial reform, coupled with digital transformation driven by big data and AI, is changing peoples' lives as well as business strategies with unprecedented speed, depth and scale. We are now living in the digital economy era. Deloitte Global Chief Innovation Officer Andrew Vaz delivered an engaging speech at the dinner, offering guests his enlightening take on the power of digital. His insights on the approaches organizations can take to stay ahead in the digital economy and become leaders in global industry competition aroused strong interest from the audience.

During the dinner Yang Yanqing, Yicai Newspaper Deputy Editor-in-Chief and Yicai Research Institute Managing Director, shared her fascinating viewpoints on the power of the digital economy and the challenges it brings. Deloitte China Innovation Leader Dora Liu also attended the dinner, exploring the opportunities in the digital future with guests. Closing remarks by Vivian Jiang, Deloitte Asia Pacific Clients & Industries Leader and Deloitte China Vice Chairlady, drew the evening to a successful conclusion.

Themed Shaping Innovative Societies in the Fourth Industrial Revolution, Summer Davos 2018 concluded on 20 September. As a strategic partner of WEF, Deloitte is committed to helping its people and clients prepare for the technological disruption of the Fourth Industrial Revolution. Fortune recently named Deloitte to its “Change the World” list in recognition of the impact we are making in innovation. Deloitte Global just reported aggregate member firm revenue of USD43.2 billion for the fiscal year to 31 May 2018 (FY2018), growth of more than 11% that marks the ninth consecutive year of expansion and evidences our continued leadership in global professional services.

Highlighting the power of the digital economy at Summer Davos 2018, Deloitte showed our commitment to exploring new growth and opportunities amid digital disruption. Our mission is to envision the future of digital transformation and promote healthy growth of the digital economy. This advanced service concept comes from our fundamental purpose—delivering professional services that contribute to building a more equitable, sustainable world.