How to effectively implement the dual circulation strategy in the turbulent international environment? Professor Bao Yongjian from Fudan University School of Management proposed the "industrial club strategy”, which means to build an alliance and in so doing create a stable microclimate in a hostile global environment.
Professor Bao advised Chinese companies to seek to form 4 types of industrial clubs:
1. Club based on raw material resources like rare earth and lithium.
2. Technical cooperation club. For example, global collaboration has been essential for the vaccine of coronavirus to be developed so quickly.
3. Common market club. When all the industrial exhibitions in Europe were canceled in 2020, the sub-conferences of Hannover Messe in China "Chengdu International Industry Fair" and "South China Industry Fair" were held as planned, which helped maintain the business connections between Chinese and European companies during an unprecedented crisis.
4. Club of shared values. Chinese companies share the same vision on climate, education, poverty reduction, etc. with their international partners. We can start from here to coordinate club goods.
