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2019 China-California Business Forum Focuses on Sub-National Cooperation

2019 China-California Business Forum Focuses on Sub-National Cooperation

California’s trade and investment involvement with Chinese provinces will take the spotlight at the third annual 2019 China-California Business Forum scheduled for June 5th in Los Angeles. An estimated 150 top Chinese business leaders are expected to attend with the goal of developing
business opportunities between California and Chinese business leaders.

“As the Chinese Secretariat of the China Provinces and U.S. California Joint Working Group on Trade and Investment Cooperation, CCCME together the seven member provinces all attach great importance to the China-California Business Forum and will actively participate in it as always. Over the past few years, as it has become an important platform of facilitating more exchanges and cooperation between Chinese and Californian businesses, the Forum has been fully recognized by Chinese enterprises and has become an annual focus of China-U.S. sub-national cooperation,” said Liu Chun, Vice President of CCCME.

The forum will take place in downtown at the Millennium Biltmore Hotel and dedicate a full day of various sessions discussing trade and investment, clean-tech, cross-border e-commerce, advanced manufacturing, and more.

“Sub-national cooperation is the foundation of China-U.S. economic and trade relations. The China-California Business Forum plays an important role in promoting this cooperation. The Forum is a joint effort by both sides. It not only brings business opportunities, but also enhances China-U.S. sub-national exchanges and cooperation. I look forward to welcoming more Chinese and California business leaders at the event,” said Amb. Zhang Ping, Chinese Consul General in Los Angeles.

Despite previous trade tensions between the two economy’s, business executives are displaying optimism for both sides to reach an agreement through bilateral trade discussions. This year’s Business Forum will ultimately support efforts to strengthen ties and develop mutually beneficial business initiatives.

“California was the number one recipient of foreign direct investment from China, totaling more than $16 Billion in 2017. We are also home to a vibrant Chinese American community. This forum will build on our strong business and cultural ties, strengthen our international partnerships, and grow our economy.” Said Lt. Governor Eleni Kounalakis.

A Letter To The Presidents

In a letter addressed to President Donald Trump and Chinese President Xi Jinping, tariffs remained the priority topic for Freedom Partners, American for Prosperity, and The Libre Initiative. The three joined efforts to speak out regarding the trade war.

The letter consisted of a plea from the trio asking that the two reach a compromise and utilize the G20 session as an opportunity to make a change in the current tariff situations and alleviate global tension.

The group noted that both parties seem “open to negotiations to drop tariffs” that will benefit everyone and the upcoming session provides a source of encouragement. The importance of employment opportunities and affordable goods and services were also key points mentioned to back up the plea.

“There is great urgency for the United States and China to come together and reach an agreement to eliminate tariffs and protectionist trade policies,” they wrote. “The continued escalation of tariffs has come at significant cost to the global economy. It has harmed businesses, farmers, consumers, workers, and families worldwide, inflicting higher costs, lost jobs, and uncertainty.”

As of today, there has not been a response reported from either of the presidents but some wonder if they will address this publicly as their global leadership position was called out and challenged. The letter was  summarized with demands to “End the trade war and come to an agreement on free trade to relieve businesses, consumers, workers, and families worldwide from any further collateral damage.”