China 19th ICIF | Digital Economy Summit Held At ICIF’s CGGE Subvenue

Mr. Anthony Neoh (second from left), Mr. Raymond Neoh (third from left) and Mr. Huang Xiaodong (right) participating in the roundtable dialogue

CG Global Entertainment Ltd. (CGGE) (Stock Code: 08271.HK) was established in 2000 by the brothers Anthony Neoh and Raymond Neoh. On the afternoon of June 7, the Digital Economy Summit organized by the 19th China (Shenzhen) International Cultural Industries Fair’s CGGE subvenue was held at the CGGE Building in Shenzhen. The forum was jointly organized by CGGE, Krystal Institute, Animation Global Magazine and International Digital Culture and Technology Alliance. Together with other distinguished guests, the Neoh brothers engaged in fruitful discussion on the topic of “Digital Economy.” The aim was to discuss the development trend of the digital economy from various dimensions, explore the future strategies of digital economy development, and inject strong momentum into the construction of digital China and digital economy development.

Mr. Wang Hongpeng, Managing Director of CGGE, said that in the development of the digital economy, key digital technology innovation is the driving force, while industrial digitalization and digital industrialization are the twin wings that enable the digital economy to take off. In the face of diverse industries and demands, providing customized and operable solutions tailored to industry characteristics is the key to industrial digitalization. As an advocate of digital solutions, CGGE is committed to building an ecosystem platform for digital asset and asset securitization through digital twinning and bidirectional empowerment of digital IP and regional economy, to promote the digitalization and digital industrialization of industries.

Mr. Anthony Neoh, Council Member of The Chinese University of Hong Kong, Vice Chairman of Shenzhen International Arbitration Institute, former Chairman of Hong Kong Securities and Futures Commission, former Chief Advisor of China Securities Regulatory Commission, and practicing Senior Counsel in Hong Kong, delivered a keynote speech on “Establishing a Sound Regulatory Framework to Lead the Development of the Digital Economy”. Mr. Neoh elaborated on the new paths, new industry patterns and new models of China’s digital economy from various perspectives, including policies and regulations, security awareness and technological innovation. He stated that in the era of digitalization, only by taking national strategy as guidance, industrial policy as direction, and technological innovation as the driving force, can we avoid being in a passive situation in the wave of digitalization. He believes that in the era of Industry 5.0, five elements present in every past industrial revolution are still there: innovation subverting Industry 4.5, commercialization, industrialization, globalization, and hegemony.

Mr. Raymond Neoh, Chairman of the International Digital Culture and Technology Alliance and President of Krystal Institute, gave a speech on the topic of “Independent Innovation of Underlying Technology: The Power to Drive China’s Digital Economy”. He believes that digital underlying technology is key to the development of the digital economy. Independent development of underlying technology can provide technical security and control, reduce dependence on external technology, and thus protect the information security and core interests of the country and enterprises. He introduced that Krystal Institute has taken “empower the people, provide upward mobility, and bridge the global digital divide” as its mission and goal. Through digital industry training, development of independent tools and core technology and other means, it aims to cultivate high-quality and multi-skilled talents for China’s digital economy development, drive the digitalization and digital industrialization of traditional industries, and further promote the development of the digital economy.

Mr. Huang Xiaodong, director of Guangdong News Media’s Virtual Simulation Laboratory, gave a speech on “Development and practice of digital-real integration – Metaverse methods, technologies and pathways for the digital economy”. He stated that the development of the digital economy is in a phase of rapid growth. By developing industries related to the metaverse, promoting technological integration, and promoting deep integration between the digital economy and the real economy, it is possible to effectively empower the real economy to comprehensively upgrade and further promote the high-quality development of the digital economy. He elaborated four major points: virtualization is the dream and pursuit of human beings; the virtual world can produce not only material products but also spiritual ones; the metaverse is neither a tool nor a technology, but a virtual universe: it is a world of equality, a digital kingdom, a world of digital twin technology, and an editable world; we may not see the real metaverse in our lifetime, but we have already ‘seen’ it, and admired its scenery on the way.

In the roundtable dialogue session, Mr. Anthony Neoh, Mr. Raymond Neoh and Mr. Huang Xiaodong shared their views and opinions on two major topics, namely, “Industrial Reform and Model Innovation in the Context of the Digital Economy” and “Implementation Pathways of Digital Industrialization and Industrial Digitalization” respectively, chatting about the new opportunities of digital economy development and making feasible suggestions on the challenges faced by China’s digital economy development.

At the summit, there were also signing ceremonies for two memorandums of understanding (MOUs): one between CGGE and Krystal Institute for school-enterprise cooperation, and the other between the College of Continuing Education-Shenzhen University and Krystal Institute for strategic cooperation. The two cooperation agreements aim to focus on industry-university-research collaboration in the context of the digital economy era, collaborate to cultivate digital talent, promote the development of industry, education, and scientific research, and inject new vitality into the prosperity of the digital economy. (Reporter / Photographer: Huang Fengming)

　GDC signing a contract with Krystal Institute

　College of Continuing Education-Shenzhen University signing a contract with Krystal Institute