Real Estate Seminar with Jones Lang LaSalle

Real Estate Seminar with Jones Lang LaSalle Like the spring weather in New York, the U.S. economy is recovering gradually from the impact of the financial crisis. Especially the recovery in the real estate market has drawn attention of Chinese investors. In the very time, CGCC organized a seminar, with real estate broker firm Jones…

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SinoChem Signs $1.7 Billion Horizontal Wolfcamp Shale Transaction Agreement

SinoChem Signs $1.7 Billion Horizontal Wolfcamp Shale Transaction Agreement With Pioneer Natural Resources January 30, 2013 — Sinochem Group signed a definitive agreement with Pioneer Natural Resources Company whereby Sinochem Petroleum USA LLC, a wholly-owned subsidiary of Sinochem Group, will purchase a 40% undivided interest in approximately 207,000 net oil and natural gas leasehold acres…

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CGCC Successfully Co-hosts 2013 Spring Festival Gala

CGCC Successfully Co-hosts 2013 Spring Festival Gala January 28, 2013 — Collaborating hosted by China General Chamber of Commerce – USA (CGCC), ICN TV Network, Beauty Media Inc.,  and The People’s Daily Media Advertising Co., Ltd., “Happy Chinese New Year • ICN 2013 TV Spring Festival Gala” was successfully presented on January 26th, at Pasadena…

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State Grid to Boost Overseas Investment

State Grid to Boost Overseas Investment State Grid Corporation of China, the world’s largest State-owned utility, plans to invest $30 to$50 billion in overseas assets until 2020. Liu Zhenya, general manager of the State-owned power grid, said that by 2020 the company’soverseas assets will increase to 10 percent of the total from the current 2…

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Bank of China Opens Branch in Chicago

Bank of China Opens Branch in Chicago   Bank of China Ltd plans to open for business in Chicago later this month, bringing the number of US branches to four for the major State-controlled lender, which is expanding its international footprint. “The well-appointed, best-staffed new branch with its premium location is expected to be up…

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Cosco’s US Job-Creation Story

Cosco’s US Job-Creation Story BEIJING/BOSTON, the United States: It is a windy day with rain showers. The Port of Boston is busy as usual, with towering cranes plucking containers from a giant vessel. But over a decade ago, the port was confronted with a crisis of existence, with thousands of jobs at risk. Things took a turn when a Chinese shipping company came to the rescue. COSCO, “helped the city’s languishing port become thriving again,” recalled Gene Hartigan, the adviser of COSCO over the past ten years and witnessed COSCO’s operation at the port, which brought well-paid jobs to Boston, US state of Massachusetts for dock workers and others who had kids to support and mortgages to pay. In recognition of the Chinese firm’s contribution to the local economy, the International Longshoremen’s Association, the leading union of maritime workers in North America, in March awarded Chinese Premier Wen Jiabao “Best Friend of the American Worker” at an event to mark the 10th anniversary of the partnership between the US port and COSCO. Timely rescue In the first two years of this new millennium, the Port of Boston’s container cargo business was at a “low point” in its history, said David Mackey, CEO of the Massachusetts Port Authority (Massport). It had been a difficult time for Massport and the port, before the win-win collaboration with COSCO was inked, Mackey said. The Chinese shipping firm started its direct cargo route to Boston on March 21, 2002, six months after the Sept 11 attacks. Today, the Port of Boston remains a vital transportation and economic resource for New England since Boston’s founding in 1630. When Wei Jiafu, COSCO’s Chairman, came to Boston in March 2002, “it was a real high point of our history,” Mackey noted.     The arrival of Chinese shipping company helped preserve and create thousands of jobs over the last decade. The port’s overall activity currently supports 34,000 jobs and contributes more than $2 billion annually to the local, regional and national economies, said Deborah Hadden, Massport’s Current Port Director. Volume on the COSCO service has surged from 40 ship visits and 23,401 TEUs (17,000containers) in 2002 to 76 ship visits and 122,882 TEUs (70,000 containers) in 2011, according to Hadden. The total cargo volume of COSCO and its partners now account for about half of the annual cargo volume at the Conley Container Terminal of Port of Boston, the New England’s maritime hub. Boston, the largest…

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International Vitamin Corporation Awarded for Contribution to NJ

International Vitamin Corporation Awarded for Contribution to NJ     On October 16th, the International Vitamin Corporation (IVC), one of CGCC’s members, received the Award of Excellence from New Jersey Business and Industry Association (NJBIA) for its contribution to the economy growth in the Garden State. The Secretary General, Mr. Richard Huang, attended the awards presenting…

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