Mr Barry Cheung Shares Insights on the Impact of Population Growth on Global Consumer Market with HKUST President at UC RUSAL President's Forum

2012-11-02

The Hong Kong University of Science and Technology (HKUST) and UC RUSAL, the world's largest aluminum producer, hosted the UC RUSAL President's Forum today (2 November), during which Mr Barry Cheung, Chairman of the Hong Kong Mercantile Exchange and Independent Non-Executive Director of UC RUSAL, spoke on ‘8.5 Billion Global Consumers by 2030: Opportunity or Looming Disaster' to an enthusiastic audience.

At the Forum and subsequent dialogue with HKUST President Tony F Chan, Mr Cheung elaborated on how global consumer trends will be affected by global population growth, with the number of global consumers expected to hit 8.5 billion by 2030. Mr Barry Cheung said, "2030 is not far away. In the run-up to a new world of 8.5 billion people, the potential opportunities are enormous. Yet the pressures on our resources are ominous. As global citizens, we all have a duty to reduce our personal carbon footprint, and do more with less. But for a challenge this big, Government, Industry and the University must come together in partnership to create a better future for ourselves and our future generations."

Prof Tony F Chan said that it is the mission of HKUST to spearhead socioeconomic development through contributing to frontier research, nurturing top talents and championing entrepreneurship. In response to society's needs, HKUST has been establishing closer ties with industry with a view to driving local, national and global development. HKUST shares the same vision and is joining hands with UC RUSAL to host the President's Forum, which offers a unique platform for the world's business and community leaders and eminent scholars to exchange views on far-reaching issues. Mr Cheung has enlightened the audience with his in-depth analysis of the vastly changing global consumer market.

Mr Barry Cheung has been on UC RUSAL's Board as an Independent Non-Executive Director since January 2010. Currently he is a non-official member of Hong Kong's Executive Council, he is also Chairman of the Hong Kong Mercantile Exchange, the Urban Renewal Authority, the Standing Committee on Disciplined Services Salaries and Conditions of Service, and Alternate Chairman of the Pay Trend Survey Committee. In addition to the above, Mr Cheung also sits on a number of government committees as a member of the Standing Commission on Civil Service Salaries and Conditions of Service, the Honors Committee, and the Long Term Housing Strategy Steering Committee.

From 1987 to 1994, Mr Cheung worked at McKinsey and Company in Los Angeles and Hong Kong, during which he advised major financial institutions in the United States and Asia, and was seconded for a year to the Hong Kong Government's Central Policy Unit as a full-time member. He received a Bachelor of Science degree with first-class honors in Mathematics and Computer Science from the University of Sussex and an MBA from Harvard Business School.

The UC RUSAL President's Forum

The UC RUSAL President's Forum is organized under the auspices of the HKUST Institute for Advanced Study and is held biannually in Hong Kong. Prestigious scholars and scientists as well as successful business leaders and entrepreneurs are invited to share with the audience their views on varied topics including the latest trends in science and technology and its relationship with and impact on humankind, knowledge transfer, entrepreneurship, innovation and creativity. Speakers also engage in a dialogue with the HKUST President. Previous Forum speakers include UC RUSAL CEO Mr Oleg Deripaska, Nobel Laureate in Economic Sciences Prof. Christopher Pissarides, Chairman of Goldman Sachs Asset Management Dr Jim O'Neill and Chairman of Esquel Group Ms Marjorie Yang.

About RUSAL

UC RUSAL (www.rusal.com) is the world's largest producer of aluminium, in 2011 accounting for approximately 9% of global production of both aluminium and alumina respectively. UC RUSAL employs about 72,000 people in 19 countries, across 5 continents. UC RUSAL markets and sells its products primarily in the European, Japanese, Korean, Chinese, South East Asian and North American markets. UC RUSAL's ordinary shares are listed on The Stock Exchange of Hong Kong Limited (Stock code: 486), global depositary shares representing UC RUSAL's ordinary shares are listed on the professional compartment of Euronext Paris (RUSAL for Reg S GDSs and RUAL for Rule 144A GDSs), and Russian depositary receipts that are issued on common shares of the Company are listed on Moscow Exchange (RUALR/RUALRS).

About the Hong Kong University of Science and Technology

The Hong Kong University of Science and Technology (HKUST) (www.ust.hk) is a top-ranked international research university excelling in science, technology and business as well as humanities and social science. Internationally renowned for its academic rigor and accomplishments, the University promotes interdisciplinary studies and provides holistic education, nurturing well-rounded graduates with a strong entrepreneurial spirit, innovative thinking and relevant skills to thrive in a knowledge economy. As an international university with strong ties to global thought leaders, HKUST has wide-ranging connections with Mainland China while aspiring to be a global premier knowledge hub and a center of research breakthroughs. HKUST was ranked Asia's number one for the second year in a row in 2012. It was placed third for the world's under-50 universities in 2012. The Kellogg-HKUST Executive MBA (EMBA) program, for the fourth straight year, topped the Financial Times EMBA global rankings.

For media enquiries, please feel free to contact :

Mavis Wong

Tel: 2358 6306

Email: maviswong@ust.hk

 
Mr Barry Cheung analyzing the global consumer market trend with growing population.
Mr Barry Cheung analyzing the global consumer market trend with growing population.
Mr Barry Cheung (left) and Prof Tony F Chan discussing how to tackle the global market challenges.
Mr Barry Cheung (left) and Prof Tony F Chan discussing how to tackle the global market challenges.
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