CCG conducted China-US investment forum successfully at Capitol Hill
Date：2014-3-13 18:10:00 Author：ifeng
China-US investment forum hosted by Center for China and Globalization, China Society and US-China business council has been conducted successfully at Hart Building, Capitol Hill, Washington, DC on Oct. 5th and 6th. About 150 entrepreneurs, politicians, scholars and lawyers from China and US have attended the forum and discussed Chinese investment in US.
Suzanne Reynolds, President of Reynolds Co. and Board Member of China Society, has hold the opening ceremony. Yeqing Li, President of China Society, Erin Ennis, Vice President of US-China Business Council, and Director General of Center for China & Globalization have given welcome remarks at the opening ceremony.
The representatives have discussed the significance, obstacles, effect and prospect of Chinese investment in US through such sessions as “The Potential of Chinese Investment and the Obstacles” “The US Welcomes Chinese Investment” “Opportunities for Chinese Direct Investment in the US” “M&A vs. Greenfield & Lessons to be Learned” “How to Overcome Legal, Cultural and Labor Barriers”. Rick Lasen, House Member, Erin Ennis, Vice President of US-China Business Council, Aaron S. Brickman, Deputy Executive Director of US Department of Commerce Select USA, Shaogang Zhang, Minister Counselor of Economic and Commercial Affairs at the Chinese Embassy, Lixin Cheng, President and CEO of ZTE North America, Yijun Tan, CEO of China Telecom (America) have given speeches and joined the dialogue.
Experts considered that with the continued development of Chinese economy, Chinese enterprises are becoming more able and willing to participate in international investment and cooperation. As the biggest economy in the world, US are a great attraction to Chinese capital.
Shaogang Zhang, Minister Counselor of Economic and Commercial Affairs at the Chinese Embassy pointed out that in recent years, Chinese investment in US has increased dramatically and the potential was large. According to the statistics of Chinese Department of Commerce, direct Chinese investment in US has reached 1.3 billion dollars in 2010, which has grown by 44% compared with last year. But meanwhile, he pointed, that Chinese investment in US still faces many challenges. US government should strengthen their public services to appeal foreign investment, and the supervision should be more transparent. Besides, American politicians are likely to politicize Chinese investment issues, and there are still visa difficulties. All of these will hinder Chinese investment in US.
Aaron S. Brickman, Deputy Executive Director of Select USA, which is newly set up by the US Department of Commerce to attract foreign investment, thought that Obama government has explicit policy to welcome foreign investment, and they are optimistic about the prospect of Chinese investment, and are willing to strengthen bilateral cooperation. He also commended that this forum was the best among all similar investment activities in US.
Many American counterparts at the forum also said that they welcome Chinese enterprises to invest in US, strengthen collaboration, and they will provide more conveniences in terms of public services.
Director General of CCG has given a special lunch lecture on the channels and models of Chinese investment in US. He reckoned that Chinese economy benefited from globalization, and internalization is a must for Chinese enterprises to get further development. The US Senate is discussing RMB exchange rate now, and many members attribute the high unemployment in US to RMB exchange rate, while ignoring the tax revenue and employment brought by Chinese investment. China and US should turn their attention to investment issues.
On the morning of Oct. 6th, Chinese entrepreneurs and scholars have conducted round-table discussions with Congressmen and Senators. In the afternoon, they then visited US Department of Commerce, Word Bank and other organizations, communicating face to face with officials in investment departments.
Chinese entrepreneurs and scholars expressed their concerns and obstacles they encountered to the American policy-makers, and put forward suggestions. Members of House and staff made explanations and pragmatic communications. The Congressman Rick Lasen and Senator Hatch welcomed Chinese investment in US, and explained their concern in investing state-owned enterprises.
This forum is the first non-official communicating activity that brings entrepreneurs, scholars and politicians from China and US together, and aims to help Chinese enterprises and investors fully know American investment environment, facilitate the improvement of investment environment in US for Chinese enterprises, promote economic and trade cooperation, and realize bilateral development.
As Chinese enterprises are getting more competitive, they are engaged more in international investment collaboration. As the biggest economy of the world, US greatly attract Chinese capital in the post-crisis era. For the first time, President Obama has issued Presidential Decree to set up Select USA in Department of Commerce to specially appeal foreign investment. Vice president Biden has stressed that they welcome Chinese investment in Beijing not long ago. Many state and local governments are appealing Chinese investment positively, and the investment environment has never been so favorable as now. Although US has mature investment environment, Chinese enterprises are faced with legal, cultural, security, technological and labor problems, which contains potential risks, as can be seen from the fact that almost half of 500 listed Chinese companies in US over the past year are neglected. However, both opportunities and challenges exist. Chinese enterprises should lean the advanced technology and managerial experience from US, while US also needs cardiac from Chinese capital to help its recovery.
During this forum, American Senate was discussing RMB exchange rate. This activity shows exactly the importance of Chinese investment towards US to American mainstream society, turns the attention of the congress from exchange rate to the more important China-US investment issue, and gives the Chinese entrepreneurs the opportunity to communicate and interact with congressmen face to face.
The forum has received wide attention from American mainstream society and other media. Xinhua News Agency, People’s Daily, China Daily, Phoenix TV and other media all conduct wide report.