CGCC hosts the 2019 SelectUSA Reception
On June 10th, China General Chamber of Commerce-USA(CGCC) hosted the 2019 SelectUSA Reception in Washington DC. Karen Dunn Kelley, Deputy Secretary of the United States Department of Commerce, Zhu Hong, Minister for Commercial Affairs of the Chinese Embassy to the United States, Terry Branstad, United States Ambassador to China, Larry Hogan, Governor of Maryland, and Xu Chen, Chairman of CGCC and President and CEO of Bank of China USA, gave remarks at the event. About 400 guests attended the reception, including CGCC members, business executives, and government officials from China and the U.S. as well as members of the Chinese Delegation to the SelectUSA Investment Summit.
Xu Chen, Chairman of CGCC and President and CEO of Bank of China USA gave opening remarks at the reception. During his remarks, Xu expressed that the investment of Chinese companies in the U.S. has become an indispensable part of bilateral relations and continues to greatly benefit both countries. Xu highlighted this reality by explaining that CGCC member companies have invested a total of over 120 billion dollars in the U.S., directly creating over 200,000 local jobs and indirectly supporting 1 million job opportunities for Americans.
During her keynote remarks, Karen Dunn Kelley, Deputy Secretary of the U.S. Department of Commerce noted that Chinese affiliated companies’ increased expansion and exporting of goods around the globe is a positive trend that can help to address the bilateral trade deficit between the two countries. Kelly spoke highly of the support and benefits Chinese investments give to local communities and businesses across America. She expressed confidence in both nations reaching a consensus that will benefit both countries and foster mutual economic growth.
Terry Branstad, U.S. Ambassador to China also gave remarks at the event, warmly welcoming over 90 members from the Chinese Delegation. In his speech, Branstad expressed that the economic development organizations of the U.S. government and American businesses are pleased to cooperate with prospective Chinese investors and provide strong support to Chinese affiliated companies in the U.S.
Representing the National Governors Association (NGA), Governor Larry Hogan of Maryland showed his appreciation to members of the Chinese Delegation in attendance. He pointed out that it is normal for China and U.S., the top two economic entities, to face challenges in their bilateral trade relations. He expressed that state governments across the U.S. will positively cooperate with Chinese ambassadors and work to continue to maintain long-term cooperation relations with Chinese affiliated companies in U.S.
Zhu Hong, Minister for Commercial Affairs of the Chinese Embassy to the U.S. closed the reception by emphasizing the important role of Chinese enterprises’ investments in the U.S., particularly in the advancing of social and economic development in both countries. Reflecting on the 40th anniversary of diplomatic relations between China and the U.S., Zhu highlighted the growth of the bilateral relationship, and the establishing of trade and economic relations based on mutual benefits and success. He encouraged that every business representative attending the reception should bring “the positive energy” to resolve the challenges within the relationship.
President Obama initiated the SelectUSA program in 2011 to boost foreign investment in the U.S. This is the fifth time that CGCC hosted the SelectUSA Reception for the Chinese Delegation to the SelectUSA Investment Summit with the aim to connect U.S.-China business communities and to promote sustainable growth of Chinese investment in the United States.
Click here to view photos from the event.
Founded in 2005, the China General Chamber of Commerce – USA (“CGCC”) has been recognized as the largest and most influential non-profit organization representing Chinese enterprises in the U.S. Its membership consists of more than 1,500 Chinese and U.S. companies, 54 of which are ranked on the 2018 Fortune Global 500. CGCC’s mission is to create value, generate economic growth, and enhance cooperation between the U.S. and Chinese business communities. CGCC conducts extensive research and provides a broad range of programs, services, and resources to its members and key stakeholders in an effort to foster the mutual understanding, trust, and engagement between China and the U.S. As of 2018, CGCC’s Chinese member companies have cumulatively invested over $120 billion, employ more than 200,000 people, and support over one million jobs throughout the United States.
CGCC is a national organization and includes CGCC-New York (CGCCUSA-HQ), CGCC-Chicago, CGCC-Houston, CGCC-Los Angeles, CGCC-San Francisco and CGCC-Washington D.C.
About CGCC Foundation
Established in 2014, CGCC Foundation is a 501(c)(3) tax-exempt organization. The mission of CGCC Foundation is to deepen mutual understanding and cooperation between the United States and China through research, public charity and engagement in economic, cultural and social exchanges.