New York, NY – On August 17th, China General Chamber of Commerce – USA (CGCC) and CGCC Foundation hosted “The Path Forward: In Brand We Trust” in New York. As the second event in 2022 “The Path Forward” series, the event highlighted key findings in Brand and Trust of CGCC’s 2022 Business Survey Report and further explored strategies on building brand trust. About 50 guests from the CGCC community attended the event.
Emceed by Sherry (Yuan) QU, Executive Director of CGCC, the event opened with remarks from CGCC Chairman and President & CEO of Bank of China U.S.A., Wei HU. He expressed the importance of the topic by recognizing that a resonating brand and lasting trust are the strongest insurance against competitive disruptions, the antidote to consumer indifferences, and the best path to continued growth. “While celebrating the optimism and resilience of many Chinese companies, it is crucial to help more to take advantage of their comparative values and innovation capabilities, and to create a brand positioning that is meaningful, different, and salient”, said Chairman Hu.
Wei HU, Chairman of CGCC and President & CEO of Bank of China U.S.A.
Mr. HU’s remarks were followed by a presentation from Abby LI, Director of Corporate Communication and Research at CGCC, where she highlighted the mixed picture of Chinese companies’ slightly recovered performances due to resilience and commitment to business growth, and the mounting pressures bred by the complex U.S. business environment. With 29% of responding companies feeling that they have a weak brand presence in the U.S., the survey shows the companies’ challenges of raising brand awareness, gaining brand trust and engaging social issues, as well as their strategic focus of corporate branding over the long-term in the U.S. market.
Abby LI, Director of Corporate Communication and Research at CGCC
With a focus on branding and communications, the panel discussion was a roaring success with an audience eager to hear from the esteemed speakers: Peter J. Reisman, Co-Chair of CGCC Government and Public Relations Committee and Managing Director and Chief Communications Officer of Bank of China U.S.A.; Dan Hunter, Senior Managing Director at FTI Consulting; and Wally Hsueh, Vice President of International Affairs at FedEx.
(From left to right) Sherry (Yuan) QU, Executive Director of CGCC; Peter J. Reisman, Co-Chair of CGCC Government and Public Relations Committee and Managing Director and Chief Communications Officer of Bank of China U.S.A.; Wally Hsueh, Vice President of International Affairs at FedEx; Dan Hunter, Senior Managing Director at FTI Consulting
The panel delved deeper into brand and trust, one of the survey’s key themes this year. The importance of defining a brand as a company, especially one entering the U.S. market from China, was made explicit by members of the panel. Mr. Reisman touched upon ‘being deliberate’ in creating the reputation that surrounds a brand, specifically in the minds of the company’s stakeholders. “When you have a good story, you have to get out there and tell it.” said Mr. Reisman, emphasizing the importance of being proactive in corporate branding.
The importance of engaging with the local community and getting involved in social issues as a corporation is also becoming increasingly clear, according to the speakers. Mr. Hsueh introduced that FedEx has made a public promise to hit their goal of carbon net zero by 2040, while Bank of China USA is actively involved in community organizations like Big Brothers Big Sisters, where they are mainly focused on teaching financial literacy to underprivileged communities. Mr. Hunter’s parting comments of engagement within the community were therefore especially striking.
CGCC-USA and CGCC Foundation sincerely thank all members and guests for their support of this event.
“The Path Forward” event series are coming to Chicago and Houston soon, please stay tuned for more information.
CLICK HERE to read the full survey report
CLICK HERE to view photos from the event