Life of Guangzhou - "Cross-investment For Global Benefit": AmCham Strengthens Cooperation With South China

With the upsurge in the Chinese economy, China is now an outward investor with great potential, not just a global manufacturing center. Continuously rising house prices, hot market shares and the rapidly increasing numbers of companies listed overseas all signify that China is a gold mine.

AmCham has rolled out a series of plans to strengthen cooperation between U.S. and China. The American Chamber of Commerce in South China (AmCham) discussed with the press its plan of action for the remainder of 2007 to stimulate positive, environmentally sustainable growth and bilateral success in the economies of both the United States and China On Aug. 14th, 2007.

Mr. Harley Seyedin, President of AmCham South China addresses the meeting.

Mr. Robert Goldberg, Consul General of U.S. Consulate in Guangzhou gives a speech at the meeting.

For the second half of this year, AmCham has devised a program of events under the theme of "Cross-investment for Global Benefit" including bringing more than 100 U.S. business leaders to the annual "China International Fair for Investment and Trade", co-organizing the first-ever "American Pavilion" at the "China High-Tech Fair" held in Shenzhen, and other high-level communication and exchange events. "We will focus on import and introducing more U.S.-made commodities to China," President of AmCham South China, Mr. Harley Seyedin said.

The meeting attracts great attention from the media.

When asked about comments on Chinese government's recent efforts to balance trade by raising interest rates and decreasing export rebates, Mr. Seyedin said that, he believed that the best way to keep healthy trade is to open trade to the market and customers. He also shared AmCham's survey results in this regard. According to statistics, most U.S. businessmen and women gave positive evaluations to Chinese government's policies; however, the survey also shows that their biggest concern about doing business with China is changes in regulations. "Chinese government should make more efforts to make the legislative process more transparent to the public. The newly issued China's Labor Contract Law sets a good example in this respect," Mr. Seyedin said.

As to the possible channels and procedures of investing in U.S., Mr. Seyedin told the successful story of Vtech Co. located in Dongguan, Guangdong. The company produces the parts for its products in China and then assembles the products themselves in Texas, U.S. In this way, all the products can be labeled as "Made in America" saving money for the company when they sell them in the free trade zone in North America.

Leaders attending the meeting

At the press meeting, IPR infringement problems were also mentioned by U.S. business representatives. More measurements from Chinese government to crack down on IPR violations are expected.

The series of events held by AmCham will begin at the end of August and last until November. For more information on these activities, please pay close attention to our follow-up reports.

For the detailed plans, please click here.

(Reported and Photographed by Helena Zhang and Alan Devey).