CGCC Successfully Hosts 9th 2024 SelectUSA Reception in Washington, D.C.
Washington, D.C. – On Monday, June 24th, 2024, China General Chamber of Commerce-USA and CGCC Foundation hosted their 9th SelectUSA Reception at the Omni Shoreham Hotel in Washington, D.C.
The annual event gathered over 300 members of the U.S.-China business communities, including CGCC member companies, members of the Chinese delegation to the SelectUSA Investment Summit, and representatives from different U.S. state economic development organizations to underscore the importance of bilateral business cooperation, investment, and provide a platform for people-to-people exchange.
Emceed by Peter Reisman, Co-Chair of the CGCC GR-PR Committee, Managing Director & Chief Communications Officer of Bank of China U.S.A., the event began with welcome remarks from CGCC Chairman and President and CEO of Bank of China U.S.A., Mr. Wei HU.
“As we navigate a complex global landscape coupled with volatility in the marketplace, the importance of U.S.-China economic cooperation cannot be overstated….By fostering mutual trust, respecting each other’s core interests, and exploring new avenues of collaboration, we can build a future that benefits not only our nations but also the broader global community,” said Mr. HU.
Mr. HU’s remarks were followed by a keynote speech from Minister Quan JING, Deputy Chief of Mission & Minister at the Embassy of the People’s Republic of China to the United States of America, where he shared his perspectives on the current bilateral relationship: “China and the United States account for one-third of the world’s economy, one-quarter of the world’s population, and one-fifth of the world’s trade, and confrontation would not benefit either side.”
Minister JING called on organizations from all walks of life to “use stories and practical actions to enhance mutual trust in exchanges and cooperation between China and the United States.”
In his special remarks, Everett Wakai, Minister Counselor for Commercial Affairs at the U.S. Embassy in Beijing, emphasized the importance of cooperation among all stakeholders: “You know, trade and investment is what I’d say is a team sport… That means that all of you in this room need to participate…That means government and non-government people and organizations working together to strengthen our commercial ties and improve and deepen our trade and investment activities.”
Marisa Lago, Under Secretary of Commerce for International Trade at the U.S. Department of Commerce, closed the event program: “While this week’s Summit [SelectUSA Summit] is focused on foreign direct investment in the United States, it bears underscoring that the vast trade and investment relationship between the United States and China benefits both of our countries’ economies, businesses and citizens.”
“With an extensive consumer market, a thriving innovation economy, strong intellectual property protections, and deep and liquid capital markets, the United States continues to be ranked as the world’s top destination for foreign direct investment. And you — the members of this large delegation of Chinese companies who are here tonight — are solid evidence of the continuing, significant interest in further investment,” said Ms. Lago.
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About CGCC
Founded in 2005, the China General Chamber of Commerce – U.S.A. (CGCC) has been recognized as the largest and most influential non-profit organization representing Chinese enterprises in the U.S. As an independent, non-partisan, non-governmental chamber of commerce, CGCC provides a broad range of programs, services, and resources to over a thousand multinational members across the U.S., with a mission to create value, generate economic growth, and enhance cooperation between the U.S. and Chinese business communities.
About CGCC Foundation
Established in 2014, CGCC Foundation is a 501(c)(3) tax-exempt organization. The mission of CGCC Foundation is to deepen mutual understanding and cooperation between the United States and China through research, public charity and engagement in economic, cultural and social exchanges.