More financial relief may finally be within reach for organizations suffering from the economic impact of the COVID-19 pandemic. The Consolidated Appropriations Act (CAA) of 2021, signed into law December 27, 2020, created a third round of funding for the Paycheck Protection Program (PPP). With $284 billion made available, the newly secured funds come with relaxed guidelines that make it easier for smaller businesses and previously excluded individuals to obtain a PPP loan. In addition, organizations that received funding in the first or second round of the PPP may now be eligible to secure a follow-up loan.

As we previously wrote in our OFAC 2020 Year in Review, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) saw a drop in enforcement activity in 2020, likely due to the massive year it had in 2019 and delays due to the coronavirus pandemic.

On February 18, 2021 – CGCC member Morvillo Abramowitz Grand Iason & Anello PC announced that Karen King will be joining the firm this month as a partner. Karen, who specializes in complex commercial litigation and regulatory matters, joins the firm from Paul, Weiss, Rifkind, Wharton & Garrison LLP.

In too many ways to count, 2020 was an extraordinary year. As we move into 2021 with optimism for an end to the pandemic and better days ahead, we understand that the activity last year of the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) may not be the first thing on your mind.

The COVID-19 vaccine breakthroughs in late 2020 brought hope that the pandemic’s end could be in sight, but a return to normalcy will require widespread inoculation, raising an urgent question: Should employers mandate COVID-19 vaccinations for their workers?

NEW YORK, NY- On Wednesday, January 8th, 2020, China General Chamber of Commerce – USA (CGCC) and CGCC Foundation, the largest non-profit organization representing Chinese investment in the United States, hosted the 2020 Lunar New Year Gala & 15th Anniversary Celebration at the New York Hilton Midtown in Manhattan.

NEW YORK – On November 21st, 2019, CGCC’s 15th Anniversary Photo Contest successfully came to a close. Organized by China General Chamber of Commerce-USA (CGCC) and CGCC Foundation, CGCC’s 15th Anniversary Photo Contest aimed to highlight the success and impact of Chinese investment and cooperation across America and the collaboration and friendship between Chinese businesses in the U.S. and their local American partners and communities.

On October 10th, China General Chamber of Commerce-USA (CGCC), CGCC Foundation and CGCC-Los Angeles hosted the “Chinese Investment in the U.S.: The Path Forward” in Los Angeles. About 150 guests from CGCC member companies, government officials, think tanks, and other organizations attended the event.

On September 17th, Xiao Yuqiang, CGCC Vice-chairman, Chairman of the US Management Committee of ICBC; Vivek K. Sarin, Interim Secretary of the Kentucky Cabinet for Economic Development and Jeff Liu, CGCC Board Director, President and CEO of Fuyao Group North America participated in a panel discussion focusing on Chinese Investment in the U.S. at the Vision China Forum: “China-US Relations: 40 Years and Beyond” held at the Asia Society in New York.

On September 17th, China General Chamber of Commerce – USA (CGCC) hosted a discussion of the documentary film, “American Factory,” which tells the story of the establishment of Fuyao Glass America’s auto glass factory in Moraine, Ohio. Held at the CGCC New York office, Jeff Liu, CGCC Board Director and President and CEO of Fuyao Group North America discussed the documentary and shared his experiences with other CGCC members and the media.