Chun Yuan Chiang: Global Supply Chain Reconstruction, Digital Standards, and Trust Rebuilding
May 26 , 2024
The 10th China and Globalization Forum, hosted by the Center for China and Globalization (CCG) and co-organized by the China-US Exchange Foundation (CUSEF) with the support of the Academy of Contemporary China and World Studies (ACCWS), was held in Beijing on May 25-26, 2024. Chun Yuan Chiang, Vice-Chair & Deputy Secretary-General of the CCG Hong Kong Council and Founder of IHDpay Group, attended the forum and shared insights at a closed-door roundtable meeting on “Navigating Geopolitical Uncertainty: Business strategies for global trade reconfiguration”
Chun Yuan Chiang began by highlighting the contemporary challenges faced by global supply chains, particularly the trends of decoupling and risk reduction, along with the surging emphasis on security matters, which have become core issues on the global stage.
Reflecting on the historical journey of digital transformation that began with the inception of the internet in 1972, Chiang acknowledged the deep-rooted need for trust as a foundational element. He advocated for the meticulous nurturing of mutual trust and the strategic utilization of technological advancements to revitalize global supply chains, ensuring their continued quality and sustainability. “In agreement with experts from Japan, Singapore, Hong Kong, and Beijing, we must collaborate, innovate, and build a sense of security and confidence among all stakeholders, which will ultimately lead to a better quality of life for everyone,” he emphasized. He also underscored the importance of establishing universal standards, particularly in addressing security issues, which are often subject to oversimplification and misuse.
Expanding on the theme of digital commerce, Chiang spoke of the imperative of redefining digital standards and cybersecurity protocols, which also encompasses new green ecological movements that have emerged as a consequence of global climate change. Additionally, he addressed the intricate challenges posed by the non-face-to-face financial and payment systems, such as money laundering, a phenomenon that has gained significant prominence as a transnational issue. In this context, Chiang introduced IHDpay Group, a company he founded, which adopts an innovative use of AI digital identification technology to drive the integration of payment systems and establish a robust network of trust among multiple parties. The group is actively engaged in facilitating the advancement of reliable global digital supply chains in the context of ongoing digitalization and trade facilitation efforts.
In closing, Chiang once again emphasized the importance of trust in global economic growth and future development, noting that trust is a key part of human interaction and that mutual trust among nations is an integral element of a healthy global society. It is only with a foundation of shared trust that we can successfully revitalize global supply chains and effectively address the uncertainties of the future.
