SME Cooperation Forum

Promote China-US Trade and Economic Cooperation

Vice Minister of Commerce Wang Chao headed a Chinese government economic and trade delegation on a visit to States of California and Illinois of U.S. from July 22-26, and did trade promotion with a China trade and investment promotion group of Chinese enterprises. During the visit, Wang Chao attended and addressed with Gavin Newsom, Lieutenant Governor of California, and Mark Angelson, Deputy Mayor of Chicago, China-U.S. Provinces and States Seminar on Economic and Trade Cooperation in San Francisco and Chicago respectively.

The Seminar held in San Francisco was co-sponsored by Chinese Ministry of Commerce and California government and San Francisco government. Wang said at the Seminar that trade and economic relations are the foundation stone and positive force for China-U.S. relations, and Province-State trade and economic cooperation is an important part in China-U.S. economic and trade cooperation, to which the Chinese government attaches great importance. California ranks first in the States of U.S. in terms of economy, and enjoys exceptional advantages for cooperating with China. China will join force with the State of California and set up a “Joint Working Group on Investment and Trade Cooperation between Chinese Provinces and U.S. California State”, which will promote the bilateral cooperation in infrastructure, new energy, biomedicine and agriculture and enhance the cooperation level.

Newsom said that California-China relations enjoy a long history, and especially trade and economic relations are close. California has the advantage of universities and talents. In recent years, California has been deepening trade and economic relations with China. And he hoped the two sides can up-grade cooperation through this Seminar.

At the Seminar co-sponsored by MOFCOM and Chicago government, Wang said that, Chicago is the third largest city of the U.S, and the important transportation hub and manufacturing center. Chicago government has put forward an infrastructure plan of “Building a New Chicago”, and welcomes Chinese enterprises to take part in. One major task of Chinese delegation this time is to discuss specific cooperation matters with the U.S. concerning Chinese enterprises taking part in Chicago infrastructure construction. He hoped this Seminar will promote cooperation between China and Illinois and Chicago and bring substantial benefits for the peoples of the two countries.

Angelson said that Chicago attaches great importance to developing trade and economic relations with China. The exchanges and two-way visits are increasing, which have helped enterprises of the two countries to deepen understanding and expand cooperation, and made contribution for the economic and social development of the two sides. The Chicago government will continue, through more innovative means, to pay efforts to provide more convenience for Chinese enterprises and further expand cooperation with China.

Representatives of the two governments and business attended seminars held in San Francisco and Chicago, exchanged views on investment environment and investment projects, entrepreneurs from the two countries also held business match meetings.

At the seminar held in San Francisco, the Investment Promotion Bureau of MOFCOM and the San Francisco Center for Economic Development signed MOU on cooperation in two-way investment promotion, and enterprises signed five contracts on China’s purchase from the USA , with a contract value of US$ 260 million. China Chamber of Commerce for Import and Export of Machinery and Electronic Products and the Investment Promotion Bureau of MOFCOM signed respectively with World Business Chicago MOU on two-way investment promotion cooperation at the seminar in Chicago.

Wang Chao met respectively with Gavin Newsom, Lieutenant Governor of California, Fiona Ma, California’s Assembly Speaker pro Tempore, and Ed Lee, San Francisco Mayor, during his visit to California, and held talks with the governors of the State of California on establishing the Joint Working Group for Trade and Investment Cooperation between Provinces of China and the State of California, and held a symposium with representatives from the California Association of Chinese-funded Enterprises. Wang Chao also met respectively with the Governor of Illinois Quinn, Chicago Mayor Emanuel, and former Chicago Mayor Daley during his visit in State of Illinois.

The delegation was in three groups, with more than 80 entrepreneurs and over 40 enterprises from industrial organizations and local commerce departments, covering such industries as energy, infrastructure construction, banking, machinery, agricultural products, real estate, education, environmental protection, chemical, electronics and consultation services.