To help going-global Chinese enterprises better adapt to local U.S. market, Chinese Enterprises Investment and Trade Service Alliance, a non-profitservice group, was launched on Thursday at the Chinese Consulate General in SanFrancisco.
Luo Linquan, Chinese Consul General in San Francisco said in his speech at theinauguration ceremony, “The establishment of the Alliance is an active exploration onimproving Chinese enterprises’ service ability and service innovation on China-USeconomic and trade cooperation.” The members in the Alliance have rich experience intrade and investment. The professional teams, their international vision and networks mayassist the Chinese enterprises, especially medium and small enterprises, with theirdevelopment in the United States.
The idea of establishing a service alliance was suggested by Yang Yihang, the Economic andCommercial Counselor of the Consulate General and was realized by totally 13 US-basedChinese and American enterprises and organizations. Yang told the People’s Daily Onlinethat, the goal of the Alliance is to promote Chinese enterprises’ investment and trade inCalifornia, and to provide a platform for assistance and networking. The Alliance willintegrate government sectors, investment and trade associations, law firms and telemediagroups to provide quality resources for the investors.
The Alliance will conduct workshops for the US-based Chinese enterprises and providelegal and accounting consultation service to reduce the investment risk. It will also help theenterprises to expand their international market.
Natosha Y. Safo, Business Development Manager of the San Francisco City Governmentalso attended the inauguration ceremony. She said in her welcoming speech that “Wewelcome more companies to be part of our ever-growing, diverse and vibrant economy.We look forward to continuing our partnership with everyone here. San Francisco is alwaysopen for business, and we will be walking with China hand in hand every step of the way.”
California Governor’s Office of Business & Economic Development also sent itscongratulatory letter. “ It’s our pleasure and honor to be a member of the Alliance and wewill provide contributing resources to help the enterprises with their investments, licensingand tax preferences to support the Alliance. California Governor’s Office of Business &Economic Development looks forward to its future cooperation with China.
In recent year, the volume of trade and investment between China and the United Stateshave been increasing. In 2015, trade between China and the US reached 558.4 billion yuan($85 billion), growing 0.6 percent year-on-year, according to the data from China’sMinistry of Commerce.
Meanwhile, unlike SOEs being the main investors decade ago, private companies, mediumand small businesses are now taking the lead in investing in the United States. They mayencounter more difficulties in exploring overseas markets due to the lack of knowledge inlocal laws, tax terms, intellectual property rights and others. “Regarding these factor, Thelaunch of the alliance is quite necessary, ” said Yang.
