CGCC’s 2020
Annual Business Survey spotlights a path forward for Chinese Enterprises in the
U.S.
On September 9th, 2020, China General Chamber
of Commerce – USA (CGCC) hosted “Decoding the New Normal in U.S.-China
Relations: What Lies Ahead for Chinese Companies and What Are the Best
Practices?” webinar as part of its 2020 “The Path Forward” event series. Over 220 guests, including executives and
representatives from CGCC member companies, government, and non-profit
organizations, joined the insightful conversation.
As the second event in “The Path Forward”
series, the webinar highlighted key findings of CGCC’s 2020 Annual
Business Survey Reportand
further explored the prospects of U.S.-China relations and their impacts on
trade, investment, and business operations between the two countries.
Xu Chen, Chairman of CGCC and President &
CEO of Bank of China USA, delivered the welcoming remarks. “In a year marked by
uncertainty and tumult, our survey demonstrates how much we value our
relationships with the American consumers, labor force, and communities,” said
Mr. Xu. He also highlighted that “It is our hope that we can weather this storm
together, seek compromise, promote mutual respect, and build a brighter future
as we climb our way out of this tragic pandemic and economic collapse.”
Following Mr. Xu’s opening remarks,
distinguished guest speakers including Former U.S. Ambassador to China and
former U.S. Senator from Montana Max Baucus, University Professor and Director
of the Center for Sustainable Development at Columbia University and President
of UN Sustainable Development Solutions Network Jeffrey Sachs, Partner of
Mercury Washington D.C. and Former Communications Director for President Donald
J. Trump’s Transition Team Bryan Lanza, and PwC Intelligence - China Analysis
Leader, PwC US, Craig Stronberg came together for an exciting panel discussion.
Peter Reisman, Co-Chair of the CGCC Government and Public Relations Committee,
and Managing Director at Bank of China USA moderated the event.
The panelists provided their unique
perspectives on current tensions in the U.S.-China relationship and the future
of the bilateral relationship. Ambassador Max Baucus believes that the tension
between the two countries “will not last too long, because we need each other.”
He also called for "more efforts to get engaged for a longer-term
relationship with China." Professor Jeffrey Sachs also advised American
policymakers to “try to stabilize the relationship of the two giants and two
superpowers,” emphasizing that “This [U.S. China relationship] is an
extraordinary relationship and it's extraordinarily important for the world to
take seriously.”
Regarding advice for Chinese companies
investing in the U.S., Bryan Lanza predicts that if President Trump is
re-elected, there will be a “more aggressive posture” towards Chinese
companies. He also advised Chinese tech companies to weigh the risk of entering
the U.S. market. Craig Stronberg suggested Chinese investors think from the
perspective of a U.S. regulator. "Regardless of what's happening at the
policy level, when it comes to the business communities from these economies,
they do want to be in one of the others' marketplaces, and they do have a
voice," Stronberg said.
CGCC and CGCC Foundation extends great appreciation to all the panelists and participants who made the event a success.
CLICK HERE to read press coverage of the event