The first Thought Leadership Event, co-hosted by the Bank of China and the University of Nottingham Ningbo China (UNNC), was successfully held on 2 December at the University's Library.

The goal of the Thought Leadership Event is to leverage the Bank of China's industry experience and UNNC's research and teaching strengths. By inviting renowned experts and professionals from both domestic and international circles to participate in regularly hosted forums, workshops and consultations, the Event aims to strengthen the interaction between government, universities, and businesses, to improve operational efficiency and promote high-quality local economic development.

Mr Thomas Murphy, UNNC's Chief Financial and Planning Officer, stated that this new collaboration between the Bank of China and UNNC is intended to create an intellectual link, "closely gathering government officials, corporate executives and academic experts together to foster interdisciplinary encounters and dialogue, and to inspire thoughts and exploration on regional economic development."

Ms Xiuli Dai, leader of Bank of China's Ningbo branch, also expressed her expectations for the Thought Leadership Event: "Today's event is a wonderful start, and I hope through a series of forum activities, we can enhance communication and sharing, and foster friendship and cooperation between the University, banks and enterprises, to further the development of Ningbo."

At the first Thought Leadership Event, the well-known economist Professor Lu Shi provided an in-depth analysis of the current macroeconomic situation in China, offering substantive strategies and suggestions for future business development.

Professor Lu Shi's lecture discussed the history of China's economic cycles through a clear and straightforward analysis of China's ten-year economic cycle experiences.

Corporate representatives and students in attendance were eager to ask Professor Shi questions on topics such as post-millennial education and career prospects and the future of the medical device industry. Even after the event concluded, Professor Shi was still surrounded by a crowd eager to engage in this valuable exchange.

Sijia Le, a freshman in International Business at UNNC, said after the lecture, "Through Professor Shi's engaging presentation, I learned for the first time that economic fluctuations have a cyclical nature. It made me realise that in addition to business models and formulas, there exists a more macroscopic and somewhat inescapable cyclical pattern that applies not only to China's economy but also worldwide. Also, Professor Shi's description of derived content in this economic society, such as elderly care, allows me to better understand the direction of the country's economic development from the perspective of economics. These were unexpected insights for me."

Shidi Wu, also a freshman in International Business, commented, "Professor Shi's lecture was profound and I have learned a lot about future business development, including how to better plan for a company's growth. This knowledge can also be applied to my future career choices."

To promote direct dialogue between academia and the business community, the first Thought Leadership Event not only offered public lectures but also a closed-door workshop specifically for business professionals. Assistant Professor Jiarui Zhang from Nottingham University Business School China (NUBS China) analysed the current economic development of Ningbo, presenting data on Ningbo's economic investment proportions over recent years in a visually impactful manner.

At the workshop, Ms Xiuli Dai of Bank of China Ningbo branch and Associate Professor Yuxin Zhang of NUBS China shared their insights on current economic circumstances and provided suggestions to Ningbo enterprises about their future development.

Additionally, Professor Shi compared Ningbo's industrial structure from a historical perspective and concluded that for Ningbo's economic development, relying solely on investment and population growth is insubstantial. The core of entrepreneurship, which is indeed innovation, is essential.

In the final Q&A session, corporate representatives raised many practical questions about their enterprises' development in the current economic climate and received patient explanations from the professors. The participants unanimously expressed that the event genuinely integrated academic theory with business practice and provided many feasible ideas and approaches for the future high-quality and sustainable development of enterprises.