SHANGHAI, June 24, 2013 /PRNewswire/ -- The American Chamber of Commerce in Shanghai (AmCham Shanghai), in partnership with the Shanghai Foreign Investment Development Board, hosted the 2013 Chinese Foreign Direct Investment (FDI) into the United States Conference on June 21, the first conference of its kind organized by the Chamber. Top executives in investment and leading service providers spoke on key issues impacting Chinese investment in the U.S., including Citigroup, JP Morgan, Bank of American Merrill Lynch China, Wells Fargo, AIG Insurance, APCO Worldwide, Ernest & Young and Deloitte.
Recognizing the rapidly growing interest from Chinese investors and U.S. states and cities in seeking more investment opportunities, AmCham Shanghai organized the conference to address a variety of topics critical to successful investment projects. The full-day conference at the Grand Hyatt Shanghai featured panel discussions on investment opportunities, U.S. regulatory issues, financing, investment target selection and vetting, risk management and cultural issues. More than 60 Chinese companies from Shanghai, Jiangsu and Zhejiang provinces participated.
China is an increasingly important source of FDI into the U.S., as the country continues to integrate into the global economy and the United States embraces increased capital in-flows from China.
Brenda Foster, president of the AmCham Shanghai, said in her remarks, "I can tell you from personal experience that U.S. states and cities are very interested in Chinese FDI to support their local economies. Last year alone, AmCham Shanghai hosted governors from more than a dozen American states who have come to China for that very reason."
The conference also provided an opportunity to communicate a welcoming environment to potential Chinese investors and to discuss what can be done to attract more investment from China.
Robert Griffiths, Consul General of the United States in Shanghai, said in his remarks, "The United States welcomes Chinese investment. Our commitment to increased bi-lateral trade and investment is on display today in our support of this event, which provides valuable opportunities for Chinese investors to engage with state representatives, service providers, and others who can help begin the investment process to the U.S."
AmCham Shanghai supports efforts to drive increased Chinese FDI to the U.S., said Robert Theleen, Chair of AmCham Shanghai and Chairman and CEO of ChinaVest Ltd. "Like investment from other foreign countries, Chinese capital creates new American jobs and maintains existing ones. It increases U.S. exports, provides new sources of capital, offers opportunities to finance needed infrastructure and promotes research and development. By investing and developing their products in the U.S., Chinese companies are able to expand their market penetration and increase brand recognition in the world's largest economy."
As investment opportunities between the U.S. and China continue to increase, AmCham Shanghai launched the Small and Medium Enterprise (SME) Center to facilitate two-way investment. The SME Center virtual portal, an online platform, will be available in July to provide resources for those interested in exploring opportunities to partner with U.S. companies and showcase U.S. investment projects and Chinese government initiatives.
Kenneth Jarrett, Chairman of APCO Worldwide for Greater China, a board member of AmCham Shanghai and incoming president of the Chamber, effective September 1st, said, "The Chamber's SME Center offers assistance to facilitate investment opportunities in the United States and support U.S.-based firms, and those already here in China, that are seeking knowledge, resources and investment capital in China."
Friday's event attracted more than 140 participants, including Chinese investors, business executives and government officials from the U.S. government, the Shanghai Commission of Commerce, the Zhejiang People's Government and the Jiangsu People's Government. In partnership with the Shanghai Commission of Commerce and the United States Consulate General in Shanghai, AmCham Shanghai organized the event with support from the Shanghai Foreign Investment Board, the China Council for the Promotion of International Trade (CCPIT) Jiangsu and the Zhejiang Investment Promotion Center.
About AmCham Shanghai
The American Chamber of Commerce in Shanghai, known as the "Voice of American Business" in China, is the largest and fastest growing American Chamber in the Asia-Pacific region. Founded in 1915, AmCham Shanghai was the third American Chamber established outside the United States. As a non-profit, non-partisan business organization, AmCham Shanghai is committed to the principles of free trade, open markets, private enterprise and the unrestricted flow of information.
Visit www.amcham-shanghai.org for more information about AmCham Shanghai.
SOURCE The American Chamber of Commerce in Shanghai