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Through Five City Yunus Social Business Week in China

Yunus Centre Press Release (24 July, 2018)

From July 19 to July 24, Grameen China organized Yunus Social Business Week in honor of Nobel Laureate Professor Muhammad Yunus. The week-long event stretched across multiple cities in China, comprising of various sessions with state dignitaries, business leaders, social business activists, leaders of finance and banking, microcredit practitioners, and students in China. In Beijing Prof. Yunus gave the keynote speech on July 19, at the Global Youth Leader Summit organized by Peking University and Hong Kong Polytechnique University in collaboration with the City Government of Beijing where he spoke to 150 youth leaders from 56 countries.

The conference was held at the conference centre of giant steel company Shaogang Group. To honor Professor Yunus Shaogan management arranged a special reception for him attended by the highest executives of the company including Mr. Zhang Gongyan, General Manager, Shaogang Group. Professor Yunus was also received by Mr. Wang Jianzhong, Deputy Director, Organization Department of the Beijing municipal Party Committee who also gave him gifts on behalf of the Party Committee.  

After this he travelled to Peking University campus where he gave a lecture organized by PKU PolyU Social Work Research Centre. It may be mentioned that Professor Yunus was appointed as a Visiting Professor at Peking University ten years back.

During the tour Professor Yunus also met with the senior management of People’s Bank of China which is the central bank of the country managing its monetary policy and regulating financial institutions. The meeting marked the bank's interest in exploring social business and expansion of microcredit nationwide. He was invited to the head office of Asian Financial Cooperation Association, an association of financial institutions around the world, initiated by Government of China as a non-government institution. He was received by Mr. Yang Zaiping, Secretary-general of Asian Financial Cooperation Association. The Secretary General briefed Professor Yunus on the activities of the association. He invited Professor Yunus to be a member of the International Advisory Committee of the Association.

Prof. Yunus delivered the keynote speech at the Beijing Inclusive Finance Forum organized by China Association of Bankers where more than two hundred participants attended the event. He addressed the country’s leading bankers and entrepreneurs calling them towards more socially responsible finance by encouraging financial support provision towards social business in a bid to prevent wealth concentration. Prof. Yunus had lunch with Chairman of China Construction Bank at the head office of the Bank. The Chairman invited Professor Yunus to a joint venture initiative to launch Grameen microcredit in China and help set up social businesses.

China Construction Bank is one of the “big four” largest banks in China, and also one of the largest in the world with operations expanding in several major metropolis of the world like New York, Singapore, Melbourne, Frankfurt, and Johannesburg.

On July 22, Prof. Yunus went to Luoyang, one of the four great ancient capitals of the Chinese empire from where several dynasties ruled the country, which is now a bustling city. He was received by Mayor Liu Wan Kang of Luoyang where the deputy mayor and other senior city government officials were present. Prof. Yunus also attended the launching ceremony of Grameen China Luoyang branch where Bangladeshi Grameen experts are helping set up Grameen microcredit programme. He gave a lecture to an audience of 300 people at the Luoyand Royal Mudu Hotel on the occasion of the signing ceremony between Luoyang Rural Commercial Bank and Grameen China. The two organizations are coming together to alleviate poverty and instill inclusive finance using the Grameen model.

From Luoyang professor Yunus went to Zhengzhao, capital of Henan province, known as the birth place of Chinese civilization.

Prof. Yunus signed a Memorandum of Understanding with Zhengzhou University to set up the Yunus Social Business Centre (YSBC) at Zhengzhou University. It became the 57th university to set up YSBCs across the world in 28 countries, and the 4th in China. Located in the Henan Province of China, Zhengzhou University is a public university catering to over 55,000 undergraduates, 15,000 full-time post-graduates and about 1800 international students from over 116 countries. The YSBC creation at the university will allow the students, faculty members, and researchers to expand academic research, teaching, action research, other workshops and events in social business to find solution to the most pervasive social problems.

In a ceremony attended by over 500 faculty and students Professor Yunus was made an Honorary Professor of the University of Zhengzhou. 

Prof. Yunus later attended the launching ceremony of Shenzhen Inclusive Finance Lab organized in partnership with China Construction Bank. He also held meetings with the senior government officials of Shenzhen which is a major city in Guangdong Province of China to share his ideas on how social business can help in the advancement of the Province in a socially-oriented means instead of only economic. 

At the closing of the Social Business week of China, Prof. Yunus arrived at Chinese University of Hong Kong, on July 23, which had established a Yunus Social Business Centre last year. He addressed the students and faculty of Chinese university of Hong Kong on the threat of wealth concentration and danger of artificial intelligence. 

During his week-long tour of China, Professor Yunus travelled through five cities of China - Beijing, Luoyang, Zhengzhou, Shenzhen and Hong Kong.  He launched the Chinese edition of his book "A World of Three Zeros" during this visit. 

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