On Thursday night, June 4th, China General Chamber of Commerce—U.S.A. (CGCC) successfully held a reception at Chadbourne & Parke LLP to welcome the first 50 participants of the "Global Leadership Training Program” organized by China's National Development and Reform Commission International Cooperation Center and Yale University School of Management. Mr. Chen Xu, Chairman of CGCC、President & CEO of Bank of China U.S.A, Ms. Zhen Tao, Executive Director of the Globalization Institute of National Development and Reform Commission International Cooperation Center, George E. Pataki, Former Governor of New York State, and CGCC members totaled with more than 120 guests attended the event.
Chairman Xu mentioned in the opening remark that trades between China and the U.S. is increasing day by day. Currently, China is the second largest trading partner, third largest exporting market and the largest source of imports of the U.S. According to the statistics from the Ministry of Commerce of China, in 2014, 1176 new US-funded enterprises were established in China, which accounts for 10.8% increase from last year. US investment to China was $ 2.67 billion, ranking sixth among FDIs to China. Meanwhile, non-financial direct investment from Mainland China to the U.S. reached $ 5.2 billion, which increased 27% from last year. By the end of 2014, total direct investment from China to the U.S. exceeded 38.5 billion US dollars. The United States has become China's third-largest destination for foreign direct investment.
Director Tao introduced that participants of the "Global Leadership Training Program" are outstanding entrepreneurs from all over China, mostly in water treatment, environmental protection, electric power and traditional manufacturing industry. The delegation had just visited the Federal Ministry of Commerce, the New York Stock Exchange, Goldman Sachs and other financial institutions and enterprises. After the trip in New York, the delegation will visit Yale University to take a short-term training program.
Former GovernorGeorge Pataki gave a warm welcome to the delegation. He said that the sponsor of the reception, Chadbourne & Parke LLP, is known for its legal services in energy, infrastructure investments and others. It started providing services for Chinese customers since the 1970s, which mainly involved in finance legal services such as international trade and corporate mergers. Chadbourne & Parke LLP employs professional lawyers speaking fluent Chinese and is looking forward to serving more Chinese enterprises in the future.
