New Partners Help State Expand Trade and Investment Efforts in China
The Governor’s Office of Business and Economic Development (GO-Biz) today announced the launch of the GO-Biz California-China Trade Network, a new multi-organizational partnership to help bolster and expand the state’s trade and investment efforts in China.
“Trade and investment between California and China is critical to the success of both our economies and the GO-Biz California-China Trade Network allows the state to provide more resources to businesses seeking assistance,” said GO-Biz Director Panorea Avdis. “GO-Biz is leveraging existing regional resources under the state banner and expanding on our ongoing efforts in China.”
In 2013, Governor Brown opened the California-China Trade Office in Shanghai during a trade mission to China. GO-Biz partnered with the Bay Area Council (BAC), a non-profit entity, to operate and manage the office with a mission to facilitate trade and investment opportunities between California and China. Under the new partnership, the Los Angeles Regional Economic Development Corporation (LAEDC), California Asian Pacific Chamber of Commerce and the City of Sacramento will join the BAC to expand California’s presence in China to other cities and provide a broader representation of regions. Each of the additional partners has an existing presence in China which will unite under a single State of California logo that signifies participating members.
“Partnering with Gov. Brown and GO-Biz on the historic opening of California’s China trade office was a signature achievement for the Bay Area Council,” said Jim Wunderman, President and CEO of the Bay Area Council. “We’re extremely excited to see the seeds of that work grow into a larger network of opportunity for more and more companies and organizations across this great state. It represents a natural progression in California’s continuing work to tap the vast potential of increased bilateral trade and investment with China.”
Since the opening, the trade office has helped California businesses access trade and investment opportunities in China and promoted California businesses in major metropolitan areas of China such as Shanghai and Beijing. The office has also helped attract Chinese investment into California and facilitated inbound Chinese delegations travelling to California.
In 2015, the trade office assisted and supported ten visiting trade delegations from China including from Jiangsu, Heilongjiang, Shanghai, Shandong, and a delegation from our Trade and Investment Memorandum of Understanding (MOU) partner provinces led by China’s Ministry of Commerce (MOFCOM). The office participated in the US Department of Commerce’s Select USA investment promotion roadshow in China which took place in Hong Kong, Shenzen, Dongguan, Guangzhou, Shanghai, Shenyang, and Dalian. Staff from the office also participated in nine trade promotion events in both China and California, including events in Shanghai, Orange County, San Francisco and Davis. A summary of the Trade Office activities is provided in the annual report.
The GO-Biz California-China Trade Network partners will meet in May as part of International Trade Week to discuss roles and responsibilities.
Stephen Cheung, President, World Trade Center Los Angeles
“The World Trade Center Los Angeles is delighted to partner with GO-Biz’s China Trade Network representing the Los Angeles region. This partnership will help California and L.A. continue to attract investment and trade from business partners in China, and will bring prosperity to our region through increased economic opportunities. This partnership is directly in line with WTCLA’s SELECT LA Investment Summit on June 17, 2016, where hundreds of foreign investors will learn about investment opportunities in the L.A. region and be matched with local businesses and investment opportunities.”