4 more China deals for California
By Wang Yanlin |
April 13, 2013, Saturday
|
Print Edition
Print Edition
IN another clear demonstration of close business ties between China and the American state of California, four deals worth more than US$200 million were signed in Shanghai yesterday.
In addition, a trade and investment office opened in the city to bolster economic cooperation between the two sides.
The deals - for the establishment of a pharmaceutical production plant, a private equity firm, a zero-liquid-waste discharge project and technology on renewable marine resources, all in California - revealed the potential for high-level cooperation between Chinese companies and firms in the US state.
California Governor Jerry Brown witnessed the signing ceremony yesterday, one day after his meeting with Premier Li Keqiang and other senior Chinese officials in Beijing when a US$1.5 billion investment partnership was announced.
The California-China Office of Trade and Investment, the state's first foreign trade office in a decade, will serve as a hub for California companies interested in entering or expanding in China, as well as for Chinese firms seeking investment opportunities in California.
Brown said California expects to attract a growing share of China's massive foreign investment and bolster its exports to China with the help of the office, which is located in Yangpu District's Knowledge and Innovation Community.
"While the US welcomes Chinese investment, California welcomes Chinese investment even more," Brown said in his brief but eloquent speech. "With the intelligence of people in both places, we can have an exchange of business, art and political thinking to address our mutual problems and contribute to world harmony."
California is a gateway of the US to the Asia-Pacific. It is home to 53 companies in the Fortune Global 500 list and also strong in agricultural products.
To build up a "California brand," Shanghai is preparing for California Week, which is scheduled for September. The event will be a celebration of all things California, from wine and food to culture and other attractions.
Brown, along with his delegation, will meet with Chinese government and business leaders in Shanghai, Nanjing, Guangzhou and Shenzhen until next week.
In addition, a trade and investment office opened in the city to bolster economic cooperation between the two sides.
The deals - for the establishment of a pharmaceutical production plant, a private equity firm, a zero-liquid-waste discharge project and technology on renewable marine resources, all in California - revealed the potential for high-level cooperation between Chinese companies and firms in the US state.
California Governor Jerry Brown witnessed the signing ceremony yesterday, one day after his meeting with Premier Li Keqiang and other senior Chinese officials in Beijing when a US$1.5 billion investment partnership was announced.
The California-China Office of Trade and Investment, the state's first foreign trade office in a decade, will serve as a hub for California companies interested in entering or expanding in China, as well as for Chinese firms seeking investment opportunities in California.
Brown said California expects to attract a growing share of China's massive foreign investment and bolster its exports to China with the help of the office, which is located in Yangpu District's Knowledge and Innovation Community.
"While the US welcomes Chinese investment, California welcomes Chinese investment even more," Brown said in his brief but eloquent speech. "With the intelligence of people in both places, we can have an exchange of business, art and political thinking to address our mutual problems and contribute to world harmony."
California is a gateway of the US to the Asia-Pacific. It is home to 53 companies in the Fortune Global 500 list and also strong in agricultural products.
To build up a "California brand," Shanghai is preparing for California Week, which is scheduled for September. The event will be a celebration of all things California, from wine and food to culture and other attractions.
Brown, along with his delegation, will meet with Chinese government and business leaders in Shanghai, Nanjing, Guangzhou and Shenzhen until next week.
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