Chinese and US Businesses Will Be Given Full Opportunities to Select Each Other
--Charge d'Affaires Wu Xi Delivered Keynote Speech at the "Select USA" Reception


On June 21, 2016, the Chinese Embassy and China General Chamber of Commerce - U.S.A. (CGCC) hosted the “Select USA” Reception. DCM, Charge d’Affaires Madam Wu Xi attended the reception and delivered a keynote speech. 450 guests from government and businesses of both China and the U.S. attended the reception, including CGCC Chairman Mr. Xu Chen and CGCC members, Chinese entrepreneurs participating the SelectUSA Summit, U.S. Ambassador to China Max Baucus, U.S. Deputy Secretary of Commerce Bruce Andrews, Lieutenant Governor of New York Kathy Hochul, and Chairman and CEO of the American Council of Life Insurers (ACLI) Dirk Kempthorne.

Madam Wu Xi first welcomed all the Chinese entrepreneurs who attended the SelectUSA Investment Summit, and expressed her gratitude for the US federal and local governments for their efforts in connecting businesses and investors between China and the United States. She spoke highly of the important role CGCC played in promoting China-US economic and trade cooperation as well as their efforts in making tonight’s event a great success.


Madam Wu Xi said that economic and trade cooperation has been the bedrock and booster in China-US relationship. Fifteen years ago, China became a member of the World Trade Organization. Thus, China-US economic and trade cooperation has entered a fast track. Today, the bulk of it is shifting from just trade to trade and investment. Two-way investment has become a new and important area of growth. In 2015, the total stock of two-way investment between China and the U.S. reached a record high of USD 150 billion. China’s investment to the U.S. is growing fast. According to CGCC, in 2015 alone, Chinese businesses invested USD 8.39 billion in the U.S., up by 60.1% compared with the year before. Chinese businesses not only gained good profits, but also made positive contribution to local employment and community building. In the mean time, China stays an important investment destination for businesses around the world. In 2015, China attracted USD 126.2 billion foreign investment, up by 6.4% year-on-year. China is now comprehensively deepening reform and will further improve the investment environment for foreign investors, and we look forward to more success stories of foreign businesses in China.


Madam Wu Xi said that a high-level investment treaty between China and the U.S. will bring an effective legal framework and strong impetus to two-way investment between the two countries. At the opening ceremony of the Eighth Round of the China-US Strategic and Economic Dialogue, President Xi Jinping said: It is important that we do our best to conclude a mutually-beneficial bilateral investment treaty at the earliest possible date. Last week, a new round of negotiation was held in Washington D.C.. The two sides exchanged negative list offer for the third time, which is another major step forward. The Chinese government encourages more Chinese businesses to “select USA”, and warmly welcomes more US businesses to “select China”. Chinese and US businesses will be given full opportunities to select each other, as China and the U.S. are both wonderful investment destinations. Closer and mutually-beneficial cooperation between Chinese and US businesses will continue to extend and deepen the relationship between our two countries. The Chinese Embassy in the U.S. will, as always, give strong support and assistance to Chinese and US businesses as they invest and develop in the other end of the Pacific.


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