CGCC Hosts 2017 SelectUSA Reception

On June 20, the China General Chamber of Commerce – U.S.A. (CGCC) held CGCC 2017 SelectUSA Reception in Washington, D.C. Zhu Hong, Minister for Commercial Affairs at Embassy of the People’s Republic of China in the United States of America, Wilbur Ross, United States Secretary of Commerce, Xu Chen, Chairman of CGCC and President and CEO of Bank of China USA, Xiao Yuqiang, Chairman of ICBC US Management Committee and Vice Chairman of CGCC, Thierry Roland, Group General Manager and Global Banking & Markets Americas CEO of HSBC, and Shau Zhang, Market Leader of Americas China Overseas Investment Network of EY gave remarks at the event. More than 500 guests, including CGCC members and partners, the Chinese SelectUSA delegation, and influential business leaders and policy makers from China and the United States attended the event.

Chairman Xu Chen gave the opening remark of the reception, welcoming the Chinese SelectUSA delegation. He hoped that the reception would be a great platform for Chinese investors in U.S. to share their experiences with prospective Chinese investors, and provide an opportunity for both parties to learn and discuss with each other.

Xu Chen Select USA Reception

Minister Zhu Hong expressed confidence towards China-U.S. economic relations in his remark. “The 100-day plan proceeded successfully and reached achievements at its early stage, and it indicates a promising beginning of China-U.S. corporation in the new phase. The upcoming China-U.S. Comprehensive Economic Dialogue will set a new starting point for economic and trade relations of the two countries,” Minister Zhu commented. He said that Chinese companies should be clear-headed, pay more attention on learning and abiding U.S. laws and regulations, develop better understanding and practice on business operation in the U.S. market, and promoting mutual understanding between people of the two countries.

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At end of the reception, a keynote was delivered by Wilbur Ross, United States Secretary of Commerce. He pointed out that President Xi and President Trump’s meeting at Mar-a-Lago laid a new and concrete foundation for China-U.S. relations, and both countries have already reached much progress in many fields of trade issues, including beef trade, electronic payment, biotechnology, finance, etc. “The U.S. government would like to make it clear that Chinese investors will be treated fairly, and with respect in the U.S. market,” said Secretary Ross.

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Remarks were also given on the event by Mr. Xiao Yuqiang, Chairman of ICBC US Management Committee and Vice Chairman of CGCC, Mr. Thierry Roland, Group General Manager and Global Banking & Markets Americas CEO of HSBC, and Ms. Shau Zhang, Market Leader of Americas China Overseas Investment Network of EY.

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This is the CGCC’s third time hosting the SelectUSA Reception for the Chinese delegation to the SelectUSA Investment Summit. The U.S. government initiated the SelectUSA program in 2011, with the aim to boost foreign investment in the U.S. This year’s SelectUSA Investment Summit was held in Washington D.C. from June 18 to 20. It attracted more than 3,000 people from nearly 100 countries around the world.

CGCC highly appreciates the support from Industrial and Commercial Bank of China, China Construction America, Ernst & Young, Fosun Group, GCL New Energy Holdings, HSBC Bank, International Vitamin Corporation and San Sheng Real Estate Group for this event.

About CGCC

Founded in 2005, the China General Chamber of Commerce – U.S.A. (CGCC) is a nonprofit organization representing Chinese enterprises in the United States. Our mission is to promote Chinese investment in the U.S., to support the legal rights and interests of our members, and to enhance cooperation between Chinese and U.S. business communities. The CGCC’s extensive membership includes numerous companies from both China and the United States, including 40 Fortune 500 companies. The CGCC is the foremost representative of Chinese businesses in the United States.

About CGCC Foundation

The CGCC Foundation is an IRS 501(c)(3) charitable organization affiliated with the China General Chamber of Commerce. It dedicates to fulfilling social responsibilities, giving back to local communities, and enhancing mutual understanding between the people of China and the United States.