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Tuesday June 23, CGCC New York Chapter hosted the second Luncheon series of 2015 at 28 Liberty in New York City. This event featured two distinguished speakers–Mr. Xinjun Liang, co-founder and vice chairman/CEO of Fosun Group, and Mr. Kenneth Langone, founder and CEO of Invemed Associates and Co-founder of Home Depot. Ms. Yi Liu, Commercial Counselor of Consulate General of PRC in New York, and Mr. Chen Xu, Chairman of CGCC, President and CEO of Bank of China USA, and more than 20 CGCC members joint this event.
Mr. Chen Xu opened the luncheon, welcoming the all the honorable speakers and guests in the room. Then, Mr. Liang and Mr. Langone shared their points of view on the trend of China-U.S. economic relations, as well as new business opportunities that are mutually beneficial to both business communities. After the remarkable speeches, several rounds of interactive Q&A were held. Members asked interesting questions, and speakers gave in-depth answers. Ms. Liu concluded the luncheon.
Mr. Liang introduced that Fuson Group has currently invested 5.2 billion US dollars spanning 18 projects in the US, including sectors such as finance, real estate, health, and venture capital innovation. He shared his experience on how to find the low risk, high growth, and high return opportunities combining Chinese and U.S. markets together. Mr. Liang also expressed his expectation for both governments to sign the Bilateral Investment Treaties that can potentially ease many business and investment operations in both countries.
Mr. Langone echoed much with Mr. Liang’s point of view, assuring that it is critical for U.S. to maintain strong and solid relation with China. Increasing business cooperation between both sides can bring benefits and growth to all. He also stressed the importance of shared knowledge between two. He expects there would be more cooperation in education, research, and innovation in the near future.
More issues were discussed over the Q&A sessions including China’s current economic reform and transition, foreign trade, and foreign direct investment.
At the conclusion, Ms. Liu added her insight of Chinese investment outlook in the U.S. In addition to State-owned Enterprises (SOE), there are many Small and Medium-sized Enterprises (SME) and private companies investing in the U.S. While most of them have gradually established, some are still struggling and learning. She really appreciates the well reception and support from the local business communities and partners such as Mr. Langone. As the Strategic and Economic Dialogue happening in Washington D.C. on the same day, she expects favorable agreement will be reached by both governments this time, which could result in providing more agreeable investment conditions.