Beijing's Fortune Forum

Consensus at governmental level, and by Beijing's financial/economic media, is that organizers of the 2005 FORTUNE Global Forum, to be held in the Chinese capital from May 16-18, have done the city proud in mounting the best-timed, and arguably best-ever, get-together of about 300 chief executives and more than 200 other business dignitaries from around the world. Over the three days, delegates will be given a keynote welcoming speech by Chinese President Hu Jintao and, subsequently, addresses by some of their international business contemporaries. Major speakers from the academic and publishing worlds will also take the rostrum.  

This is the ninth FORTUNE Global Forum, a series mounted in intermittent years and which began in Singapore in 1995. China is the only country to have staged it three times, previous occasions being Shanghai in 1999 and the Hong Kong Special Administrative Region in 2001. True to its philosophy of nothing being too good for all visitors, be they ordinary tourists or august business people and other VIPs, Beijing has gone to meticulous lengths at every level in organizing its first forum. Special attention has been paid to the comfort, convenience and security of delegates and their spouses, the latter being hosted under a special sightseeing-shopping program of their own (see Beijing This Month magazine, April 2005) while their partners get on with the more serious business of wrapping their considerable minds around major economic and other issues. In this context, Beijing more than meets all FORTUNE forum criteria that a host city should, at base, be among the world's most creative and dynamic, if not necessarily ultra-rich. One need only contemplate the capital's burgeoning development, its winning of the right to stage the 2008 Olympic Games, and the general bounce born of pride in citizens' steps. Beijing is a city on the move, light years removed from any other time in its 800-year history as the country's capital.

Robert Bierman, executive director and president of Fortune's conference division said: "As we were going through the short-listing process [to decide the venue for the 2005 forum] we found that many parties in our company had a lot of things going on in China. Five years after Shanghai, it's an even bigger story for us. It is still about China as a marketplace, and since it's been five years now, it's time to take another look at them."

He said he was "in awe" of Beijing's efforts to modernize, while at the same time preserving its ancient landmarks and sense of history and culture.

First Gala Dinner in History at Temple of Heaven

The FORTUNE Global Forum has been oriented as a platform for communication between CEOs from the world's leading enterprises. Its opening ceremony has always attracted most attention from the business world, so the choice of the right venue is always given the most careful consideration by forum organizers. The spectacular, centuries-old Temple of Heaven, used by Ming and Qing dynasty emperors to perform rites for the entire nation, has been chosen for the Beijing opening and where President Hu will deliver his speech on the evening of May 16.

The care taken in planning for the big day is reflected in the fact that one of the groups responsible for the ceremony actually moved its office into the temple. Earlier, also as part of forum preparation, Beijing Municipal Government had divided more than 30 municipal institutions into groups, each of which was charged with a specific task that had to be completed as quickly as possible.

Wang Hui, director of the municipality's information office, noted that representatives of FORTUNE magazine were so moved by the grandeur of the temple's Hall of Prayers for Good Harvest that they immediately requested that it be where the opening ceremony takes place.

The Temple of Heaven, an architectural cultural relic which enjoys State-level protection, is so highly valued that "fire" in any form within its walls is totally prohibited. Hence dishes served at the opening ceremony's dinner will be cold, having earlier been cooked elsewhere by more than 100 chefs. Meanwhile, to ensure that the dinner takes place without a hitch, food experts and the organizing groups have rehearsed the dinner and themselves sampled individual dishes. On the big night, some 400 waiters and supervisors will serve the delegates and other guests.

The dinner venue, the Hall of Prayers for Good Harvest which has an area of almost 40,000 square metres, has never before been used for such a celebration, let alone a location for dinner. May 16 will thus be a gala occasion par excellence, with guests delighting in the traditional Chinese architecture, furnishings and artefacts which surround them.

Few among them, if any, will ever forget this "first" of all firsts in Chinese history, an occasion which pays them all a tremendous compliment in underlining their welcome. Their evening will be the more memorable because they will also enjoy Chinese music and the unique skills of traditional performers.

Strong Turnout of Chinese Delegates

At a press conference to report on the progress of forum preparation, Mike Federle, group publisher of FORTUNE/FORTUNE Small Business, said: "At present more than 500 business elites have confirmed their attendance at the Beijing forum, including over 300 from overseas and around 200 from China. Fifty-nine of the  total are among FORTUNE's 2004 Global 500 companies. Of the 14 Chinese companies listed on Global 500, 10 have said they will be present at the event."

At an earlier press conference, the State Council Information Office announced that President Hu Jintao will present the opening ceremony. Lecturers at the forum proper will include Ma Kai, Minister of State Development and Reform Commission of the People's Republic of China; Bo Xilai, Minister of Commerce; Wang Xudong, Minister of Information Industry; Xu Guanhua, Minister of Science and Technology; Zhou Xiaochuan, Governor of the People's Bank of China; and Zhao Qizheng, Director of the State Council Information Office.

Federle noted that the mix of such high-ranking officials from China's central government and CEOs of top-level trans-national enterprises, were a key element in achieving the goal that the FORTUNE Global Forum will "organize in-depth discussion on the development of China and other Asian regions, and [identify] opportunities they can offer to trans-national enterprises."

Jaime FlorCruz, chief representative of the Beijing forum, confirmed the presence of other lecturers at the event. They include renowned economic critic Hernando De Soto; Ermenegildo Zegna, CEO, Ermenegildo Zegna Group; John B. Menzer, president and CEO, Wal-Mart International; Charles Prince, CEO, Citigroup; Edward Breen, chairman & CEO, Tyco International; Nandan M. Nilekani, CEO, president and managing director, Infosys Technologies Ltd; Rick Wagoner, chairman and CEO, General Motors; Ed Zander, chairman and CEO, Motorola; and Louis C. Camilleri, chairman and CEO, Altria Group Inc.

The 200-plus domestic forum attendees will include Yang Yuanqing, vice-chairman, president and CEO, Lenovo Group; Yang Mianmian, president. Haier Group; and Hu Maoyuan, president, Shanghai Automotive Industry Corp (Group). Each of the trhee will also address the forum.

Cultural Guardian of Round-table Discussions …

The forum will also encapsulate two round-table meetings on the themes of culture and sports. Xing Zhudi, marketing director of China Guardian Auctions Company Ltd., has announced that her company will offer appropriate decorations for the cultural discussions, to be held at Beijing International Club. The sports roundtable will be at the St.Regis Hotel.

Guardian Auctions' decorations will mainly constitute paintings which reflect the "new image" of Chinese contemporary art which emerged during the early years of the country's opening-up, works which depict "young and new" styles. Up to 10 pictures will be displayed, including oil and gouache renditions. Also on view, acting as foils, will be a collection of sculptures.