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Chinese business chamber's annual meeting eyes on better bilateral business ties
   2017-01-14 09:32:38    CRIENGLISH.com      Web Editor: Guo Yan

The file photo shows the notes of US dollars and yuan. [Photo: CFP]

The Chinese General Chamber of Commerce in the United States has convened its annual meeting in New York City, with hundreds of business officials from the two countries discussing issues of concern, including bilateral business ties.

 

The impending political transition in the United States has been dominating discussions among those attending the Chinese Chamber's annual general meeting in New York.

While future US trade policies with the incoming Trump administration remain unclear, Chinese business leaders attending the session are still expressing optimism about the US market.

Yuan Ning is the President of China Construction America Incorporated.

"In the aspect of infrastructure, we fully expect this new president will take some major initiatives. We have been here in the US for 31 years. We can say we are rooted in this market. As the new policies are rolled out, we think we'll have more opportunities."

Official figures show Chinese investment in the United States reached a record high of nearly 46 billion US dollars in 2016.

U.S. President-elect Donald Trump, who will take office next week, has expressed his intentions to move manufacturing back into the US to create more jobs.

His nominee for U.S. Secretary of Commerce has also been on-record suggesting a potential retooling of existing trade pacts, as well as imposing heavy taxation on foreign products.

Scott Pattison, executive director of the National Governors Association, says local policies are unlikely to be affected by national strategies, and suggests individual states are likely going to keep welcoming in foreign companies.

"As states, since we are sub-national governments, we obviously are affected by the national government, but we try to also do our own separate economic development activities. So again, governors are traveling to places in China, they're interacting with Chinese companies, and countries and companies across the world."

However, many attending the Chinese Chamber's meeting in New York have been concerned about a possible decline in the political relationship under a Trump government.

Former US Secretary of State Henry Kissinger says he believes the Trump administration still has an opportunity to work closely with China.

"If China and the United States can cooperate, we can build a new world order based on growth and cooperation. And if new administrations end off this, that is legacy that they inherit, but on which they can build with their own imagination and their own dedication."

The year of 2017 will witness the new U.S. president taking office and the Communist Party of China convening its 19th National Congress that will see a major power shift to a new generation of leaders.

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