The “China (Chongqing)-US Investment and Trade Virtual Fair”, was successfully held virtually in Chongqing, New York, and Washington DC on March 18, 2021. The meeting was jointly conducted by Chongqing Municipal Commission of Commerce, China Council for the Promotion of International Trade Representative Office in the United States, China Construction Bank (“CCB”) New York Branch and Chongqing Branch. The meeting invited the Chairman of the American Chamber of Commerce in South China, General Manager of International Business, the General manager of International Business Department of CCB Head Office, Heads of CCB’s New York Branch and Chongqing Branch, executives of Sino-US sustainable energy and manufacturing companies, executives of US and Chinese enterprises, industry policy experts, etc.
Zhang Zhikui, Director of the Chongqing Municipal Commission of Commerce, opened his speech by identifying that Chongqing is an important strategic platform for the development of the western China, which has been a unique pioneer in “ opening up” China and important in the national regional development. “The United States has always been Chongqing’s most important trading partner and source of foreign investment. The city welcomes American investors to continue to transact businesses and invest in construction projects here, so as to share the great development opportunities in Chongqing. The government will effectively safeguard the legitimate rights and interests of foreign enterprises, continue to provide accurate and high-quality services, and work in close cooperation with all parties to achieve win-win results”.
Mr. Zhao Zhenge, Chief Representative of the China Council for the Promotion of International Trade in the United States, presented that China provides a huge market and attracting business opportunities for foreign entrepreneurs including the United States. The China Council for the Promotion of International Trade is ready and willing to work closely with the business communities of the two countries to actively build more pragmatic economic and trade exchange platforms, promote exchanges between China and the United States, and facilitate the businesses of the two countries in new energy, automobiles and accessories, and agricultural food, etc.
Dr. Harley Seyedin, Chairman of the American Chamber of Commerce in South China, introduced the “2021 China Business Environment White Paper” which was recently released by his organization. According to the report, while China’s economy, like the rest of the major global economies, faced some challenges in 2020, foreign investors continue to be optimistic about the Chinese market. The vast majority of the Chambers companies indicated that the overall return on investment in China in 2020 was positive, and significantly higher than the overall return on investment globally. Dr. Harley believes that only by deepening mutually beneficial discussions and establishing trade and cooperation relations can we achieve a win-win future for the Sino-US economy.
Sun Jianbo, General Manager of the International Business Department of CCB, emphasized the bank has always and will continue to be committed to providing professional financial services for Sino-US trade and investment, and promoting mutually beneficial cooperation between companies in both China and US. Since its establishment in 2009, CCB New York branch has actively engaged partnering with local companies in the US market leveraging the CCB’s global network to provide customers with diversified and efficient financial products and services, successfully accomplishing its role as the US bridge and conduit in promoting Sino-US’s economic and trade cooperation. The primary objective of our “Virtual Fair” is to provide a platform to facilitate expansion of cross-border investment and trade through virtual display, virtual deal matching and virtual negotiation.
At the end of 2019, in response to the pain points of information asymmetry and high transaction costs in cross-border transaction scenarios, CCB innovatively launched the “CCB Match Plus”, which is a cross-border intelligent digital matching platform globally with application of big data, artificial intelligence, cloud computing and other financial technologies. Leveraging CCB Group’s advantages in global presence and full licenses, the platform offers comprehensive financial service solutions to its clients globally. In just one year, the number registered users of “CCB Match Plus” platform has reached 60,000, which represent extensive connections with domestic and international business associations, governments, as well as investment and trade promotion agencies. There are more than 1,500 Chongqing enterprises have registered in CCB’s platforms. The platform also has embedded links in Chongqing’s “Single Window for International Trade” to facilitate “one-stop service” to enterprises.
CCB’s responded to the new way to execute business in 2020 by integrating the “digital exhibition” service scenarios to help companies build digital exhibition halls and provide online support such as live broadcast, remote promotion, and video conferences. Since May last year, more than 60 cross-border virtual exhibition have been held for more than 6,000 companies across 28 countries and regions, all of which were welcomed by local enterprises, business associations and government agencies. This “Virtual Fair” held on CCB’s virtual platform will contribute to facilitate both Chinese and American companies to further expand the market and business opportunities. The “Virtual Fair” lasted for two days, and invited more than 70 Chinese and American companies including US Fortune 500 companies and high-end individual customers. The exhibition focused on five major industries including automobile and motorcycle, medical and chemical industry, new energy, financial institutions, and study abroad and tourism, with more than 10 online meetings arranged. The response to the event has been extremely positive as participants expressed their appreciation to CCB and interests in Chongqing’s location and opening advantages, which would help to open up market channels in not only the western region but the entire Chinese economy, and actively seek opportunities in trade import and export, investment promotion, and technical cooperation.