The China-California Business Forum convened in Los Angeles on Monday, bringing together officials, business organizations, and companies to enhance business ties and trade cooperation between China and California.
In his address, Chinese Consul General in Los Angeles Guo Shaochun highlighted that China is California’s largest trading partner, with the state hosting the highest number of Chinese-invested companies in the United States. “The economic and trade cooperation has facilitated growth in employment and the economy, benefiting the peoples of both China and the United States,” Guo stated.
In 2023, bilateral trade between China and California exceeded $137 billion. Over half of the containers at the Port of Los Angeles are involved in trade with China, and 70 percent of the cargo volume at the Port of Long Beach is China-related, according to Guo.
Guo emphasized that the forum serves as an important platform for deeper communication and broader business opportunities, vitalizing subnational cooperation and promoting the sound, stable, and sustainable development of China-U.S. relations.
California’s Lieutenant Governor Eleni Kounalakis underscored the special relationship between California and China, citing factors such as California’s location on the Pacific Rim, its large Chinese American community, significant trading activities, and student exchanges. “All of these have led to the creation of a longstanding and respectful friendship,” she remarked.
This year’s forum featured a Chinese delegation of over 150 top business leaders and trade officials from dozens of provinces, with Shanghai being the Guest City of Honor. The forum focused on key sectors including clean technologies, e-commerce, agriculture, infrastructure, and innovation.
During the event, a series of memoranda of understanding were signed to boost trade cooperation, including agreements between the World Trade Center Los Angeles and the Shanghai Foreign Investment Development Board, and between San Francisco International Airport and the Shanghai Airport Authority.
The China-California Business Forum is an annual economic and trade event under the China Provinces and U.S. California Joint Working Framework for Trade and Investment Cooperation. Established in 2016, the previous five forums have attracted over 2,100 attendees.
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China-California Business Forum held to boost economic cooperation
cgtn.com
