BAC HOSTS VINCENT LO TO DISCUSS CHINA’S NEXT FIVE YEAR PLAN

This morning, more than 125 people squeezed together for breakfast with Vincent Lo, architect of the Bay Area Council’s China efforts, and the Chairman of the Shui On Group and the Yangtze Council.  The consummate gentleman was humbled as always, but gave a riveting presentation on what he sees happening in China in the next few years, especially as shaped by the country’s next “Five Year Plan.”  China has weathered the global recession without a hiccup, and its leaders are focused on turning up domestic consumption.  He pointed out that in the United States, “services” account for about 80 percent of the economy and 90 percent of his native Hong Kong’s economy, but in China’s mainland, it’s only 40 percent.  He predicted that industries like healthcare and cloud computing – both focuses of the Bay Area Council – are likely to skyrocket as the service economy ramps up.  Thank you to our breakfast partner, the Asia Society, and to our sponsors who made the breakfast possible:  Lloyd Dean and Catholic Healthcare West;  Victoria Jones and The Clorox Company; Mark Edmunds and Deloitte; Stacy Magill and Ghilotti Construction; and Jeff Heller and Heller Manus Architects.