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China General Chamber of Commerce – U.S.A. Hosts China-U.S. Economic, Finance and Investment Dialogue & 2014 Annual Gala
Top Tier American and Chinese Business Leaders and Officials Join CGCC to Celebrate Continued Growth of Chinese Investment in the United States
Washington, D.C. - On Thursday, October 9th, 2014, China General Chamber of Commerce – U.S.A. (CGCC)—the largest nonprofit organization representing Chinese enterprises in the United State—hosted the China-U.S. Economic, Finance and Investment Dialogue & CGCC 2014 Annual Gala at the Four Seasons Hotel.
The event was opened by CGCC Chairman and China Construction America President Ning Yuan, and attended by some of the most prominent business leaders and policy makers, including Chinese Ambassador to the U.S. Cui Tiankai, Chinese Vice Minister of Finance Zhu Guangyao, Chairman of the Senate Foreign Relations Committee Senator Robert Menendez, U.S. Under Secretary of Commerce Stefan Selig, the 108th Mayor of New York City Michael Bloomberg, and Bank of China Chairman Tian Guoli.
Ambassador Cui and Mr. Bloomberg delivered opening remarks at the gala. Mr. Bloomberg said: "This is an exciting time for Chinese and American businesses. We are different countries, with different histories, and different cultures, but we share the same ultimate goal: social progress through economic growth. The U.S.-China relationship holds unlimited potential, and the key to fulfilling that potential is collaboration, which brings about innovation and in turn, more opportunities for collaboration."
As China’s economy seeks new growth opportunities, its businesses are placing more emphasis on global investment and innovation. The transition away from manufacturing and export has enabled China to become a major global investor. Over the past several years, Chinese investment in the U.S. has grown to unprecedented levels. Chinese companies invested approximately $14 billion last year, up by 600% from 2005, bringing Chinese foreign direct investment stock in the U.S. to $40 billion. “Chinese interest in U.S. assets, tangible and intangible, will remain strong as a result of a more liberal policy environment for Chinese outbound investors and a positive outlook for the U.S. economy. The number of Americans employed by Chinese-owned companies has risen in tandem with China’s investment growth in the U.S. Chinese companies come to the U.S. for the same commercial reasons: its good business environment, advanced regulatory regime, creative workforce, innovative technologies, and strong brands. We look forward to partnering with U.S. companies to realize mutually beneficial cooperation for all stakeholders,” said Mr. Yuan.
Several awards were given out during the event. The International Leadership Award was given to Managing Partner of Ernst & Young Americas Stephen Howe, Chairman of WH Group Wan Long, Mayor of Jersey City Steven Fulop, and CEO of Related Companies Jeff Blau. The Outstanding Member of the Year Award was given to Agricultural Bank of China, Sinopec Corporation, Baosteel America Inc., China Unicom Americas, China Center New York, and Waitex.
Founded in 2005, China General Chamber of Commerce – U.S.A. promotes Chinese investment in the U.S., supports the legal rights and interests of members, and enhances cooperation between Chinese and U.S. business communities. The Gala was an annual event celebrating another year of economic success and growth between the two countries.
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Media Contact:
Ms. Yuan Qu
Tel: 201-876-2788
Email: yuan.qu@cgccusa.org