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The COVID-19 Private Sector Group (CPSG) Renamed

In the spring of 2020, the unexpected COVID-19 caused a significant impact on our business and life. Joining hands with other parties, PwC set up the COVID-19 Private Sector Group (CPSG) in the face of the outbreak, bringing and working together with global responsible organisations to tackle the unprecedented challenges brought on by the outbreak and to rebuild in the later stages of the pandemic. Since the establishment of the CPSG, 8 conferences have been held to address the impact of the pandemic on the macro economy, corporate strategy reshaping and transformation. The CPSG also combines the strength and expertise of its members sharing best practices on assisting small and medium enterprises, and providing recommendations on how the government can promote economic development after the crisis.

The Chinese government's effort to balance pandemic containment and economic and social development is producing effects - the pandemic is under control in China, and the Chinese economy and society have been back on the right track. However, the disease is still raging elsewhere. And compounded by ever-changing macroeconomic policies of various governments and unclear international trade relations, the world is in a state of great uncertainty. In the future, uncertainty may evolve into a new normal.

"How to achieve growth in an uncertain environment" has become another challenging task for enterprises to tackle. Amid a variety of external and internal uncertainties, many enterprises find it difficult to make decisions. As in such a rapidly changing era all laws and conventions may be broken. All "the impossible" may be made possible under the new normal, and it is extremely difficult to accurately predict future development trends.

Therefore, in order to service its members and support the small and medium-sized enterprises to a larger extent, and considering the latest developments, we propose to officially rename the CPSG as PwC China Corporate Contingency Response Center. Its purposes will remain unchanged, i.e., making a concerted effort to explore how to deal with the uncertainty, quickly develop new strategies, build the core competitiveness and adapt to the rapidly changing market environment, so as to grow with more value added. With a view to “building trust in society and solving important problems”, PwC will continue to serve the PwC China Corporate Contingency Response Center via the Secretariat. Meanwhile, we hope you can continue to support the development of this center, and recommend and attract more enterprises and experts to join us, in a bid to jointly build a better future.