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Prominent Members of the U.S.-China Business Community Discuss How to Benefit the Local Economy and Environment by Investing in Sustainability
Sustainability has become an imperative - for companies, and for the planet. A decade ago, reducing environmental impacts was merely a “nice to have'' for organizations. Now leaders face ever-increasing pressure to act decisively on environmental issues. It’s a necessity as well as a genuine and enormous business opportunity.
Encouraged by the positive momentum for benefiting both the economy and the environment, from May 5th to May 6th, 2022, China General Chamber of Commerce - USA (CGCC) led a delegation of member companies to visit Sun Fiber in Richburg, South Carolina, a leading manufacturing company that recycles plastic bottles into polyester staple fibers. The visit kicked off the CGCC 2022 Member Company Visits series which aims to engage members of the U.S.-China business community with game-changing organizations and their pioneering practices.
Jointly organized by CGCC and Sun Fiber, the visit featured a business forum highlighting the power of sustainability endeavors to create business opportunities and unleash strategic benefits for local economies. About 100 distinguished guests from across the U.S. joined the event both in-person and virtually, including members of the local government, businesses, and media.
Suosheng Li, Vice-Chair of CGCC and General Manager of China Construction Bank New York, highlighted that “promoting the idea of how sustainable strategies advance the economic, social and environmental ‘Triple Bottom Line’ would help businesses better understand the benefits of sustainability initiatives”. Wei Hu, President and CEO of Bank of China U.S.A. thoroughly introduced BOCUSA's strategic emphasis on the ESG efforts and its strong commitment to the green finance transformation.
With sustainability values on the one hand, Chinese companies have heavily invested in South Carolina across industries and created enormous jobs and opportunities for the local economy. South Carolina Governor Henry McMasters joined the forum virtually and warmly welcomed the CGCC delegation to the beautiful and prosperous state. Harry Lightsey, Secretary of Commerce of South Carolina, reiterated that with China as the third largest trade partner of SC, the relationship between China and the state is deep and rich. Following their remarks, Robert Long, Director of Chester County Economic Development, provided an informative introduction of the county as a primary FDI destination in South Carolina.
The forum also touched upon the topics of Recycling and the Application Market in the sustainability industry. Speakers included Alasdair Carmichael, Program Director of NAPCOR; Mary McClellan, Executive Director of Carolina Recycling Association; Anna DeLage, Recycling Market Development of SC Department of Commerce; Robert Taylor, COO of Stein Fiber LTD, and Charles Thompson, President of Arden Companies.
As the co-host and feature company of this trip, Sun Fiber sets a great example for Chinese private companies in achieving a balance between economic and social benefits. It also brings synergies to U.S.-China business cooperation. Ya Sun, President and CEO of Sun Fiber, has believed in this noble cause since day one. Her story of Sun Fiber in the U.S. dates back to 2012 when a team of four overcame tremendous challenges for the initial greenfield investment. After ten years of exploration, the company has grown to become a leading manufacturer with over 220 employees and two production facilities. Driven by the vision to help ease the urgent environmental pressures, Sun Fiber takes a holistic perspective on sustainability, examining the way products are transported, packaged, handled, used, and what happens to them at the end of life. The company strives to promote sustainable ideas along its value chain while achieving considerable economic success.
The company has also been a dedicated supporter of the local community over the years. Spearheaded by Ms. Sun, the company donated a Chinese library to the East Point Academy, a local charter school with a mission of merging cultures, inspiring minds, and expanding horizons.
With a mission to create value, generate economic growth, and enhance collaboration between the business communities, CGCC will continue to serve with determination and creativity towards strengthening the cooperation between the U.S. and China on tackling important issues such as climate change and transitioning toward green renewable energy.