International Cooperation Forum at 2018 NGA Summer Meeting in New Mexico

Santa Fe, July 19, 2018 – China General Chamber of Commerce – USA (CGCC) and the National Governors Association (NGA) co-hosted a welcoming forum on July 19 in Santa Fe, New Mexico, kicking off the International Cooperation Day of 2018 NGA Summer Meeting. For a second year, the forum brought together top Chinese CEOs and investors, U.S. governors, and over 200 international business executives and state economic development leaders to discuss international cooperation at the sub-national level. Zhang Ping, Consul General from the Consulate General of the People’s Republic of China in Los Angeles, Xu Chen, Chairman of CGCC and President and CEO of Bank of China USA, Utah Governor Gary Herbert, Colorado Governor John Hickenlooper, and senior executives from CGCC member companies Bank of China USA, China Investment Corporation, International Vitamin Corporation and Jushi USA Fiberglass Corporation spoke at the forum, joined by North Dakota Governor Doug Burgum, Arkansas Governor Asa Hutchinson, delegations and representatives from Japan, Kenya, Canada and Mexico.

The forum started with opening remarks by Utah Governor Gary Herbert, who on behalf of National Governors Association warmly welcomed the Chinese delegation of over 30 CEOs coming over from China to attend the Summer Meeting and investigate the U.S. investment environment.

Consul General Zhang Ping delivered the keynote speech at the forum, calling for concerted and joint efforts by China and the US to keep up sub-national cooperation and bring the bilateral trade-economic relationship back to the normal track. “Trade war brings mutual destruction and is in nobody’s interest. We need to promote the awareness of the importance of maintaining a sound China-US relationship. China is not a threat, but a partner of cooperation”, said Consul General Zhang Ping.

In the following panel discussion, “Rebuilding a Silk Road to Economic Development” moderated by Mike Walter, General News Anchor of CGTN-America, Qi Bin, Executive Vice President of China Investment Corporation, elaborated on China’s current stage of development and the engines of China’s economic growth. He affirmed that China’s growth and further open-up will continue to benefit the U.S. companies, investors, and consumers. The other panelist Raymond Qiao, Chief Lending Officer, Managing Director of Bank of China New York branch, shared his years of experience in facilitating Chinese companies regarding investments in the US. Despite the elevated trade tension between Washington DC and Beijing right now, at the state and local level, Qiao said, policymakers still warmly welcome Chinese investments, which are creating jobs, generating economic growth, supporting the local communities for the local people.

As the second keynote speaker in the forum, CGCC Chairman Xu Chen emphasized the interdependence of the U.S. and Chinese economies and shared with the audience some most recent findings of CGCC 2018 Annual Business Survey Report. “The Trump Administration’s tariff policies have not only disrupted the existing world trade order but are also causing serious damage to its own economy. However, we still believe a compromise can be achieved through dialogue and negotiation. CGCC will continue to innovate and build more partnerships between the US and China and create more dialogue to advance compromise amongst policymakers at every level of government”, said Xu Chen.

Following those remarks, the second panel, “U.S.-China Economic Ties, Growth, Strategies, and Investment Opportunities” moderated by Michael Myers, Managing Director of the Rockefeller Foundation, was joined by Governor Gary Herbert and Governor John Hickenlooper, as well as Vice Chairman of CGCC and President and CEO of International Vitamin Corporation Steven Dai and CEO of Jushi USA Fiberglass William Woo. Both governors agree that the trade tension has already brought great uncertainty to businesses and capital investment and hurt the U.S. economy. The marketplace is global by nature. Problems shall be solved through innovation and cooperation rather than protectionism. Both sides shall work together to ensure better communication and try to find mutual acceptable solutions. The Chinese CEOs Steven Dai and William Woo shared their stories of investing and operating in different U.S. states and globally, as well as their business strategies on localization and coping with the recent US-China trade tension.

This forum aimed to encourage mutual understanding between the US and China and emphasize the importance of a robust and cooperative US-China relationship. CGCC sincerely thanks its member companies Bank of China USA, China Investment Corporation, International Vitamin Corporation, Jushi USA Fiberglass Corporation, Anbang International, EY, Minmetals and the NGA team for supporting this event. CGCC will continue to promote state-level communication and cooperation between U.S. and Chinese business communities and to facilitate Chinese companies’ sustainable growth in the US.

About CGCC

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 US. Its membership consists of 1,500 Chinese and US companies, 58 of which are ranked on the 2017 Fortune Global 500. CGCC’s mission is to create value, generate economic growth and enhance cooperation between US and Chinese business communities. As of 2017, CGCC Chinese member companies have cumulatively invested over $120 billion and directly employ more than 200,000 and indirectly support over 1,000,000 people throughout the US.

CGCC is a nationwide organization and includes CGCC-New York (CGCCUSA-HQ), CGCC-Chicago, CGCC-Houston, CGCC-Los Angeles, CGCC-San Francisco, and CGCC-Washington D.C.

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