An Influential and Successful Trip by China Entrepreneur Club to U.S.

Dec 01, 2011, 08:00 ET from China Entrepreneur Club

BEIJING, Dec. 1, 2011 /PRNewswire-Asia/ -- Over 30 members of the China Entrepreneur Club (CEC), including LIU Chuanzhi (Chairman of Legend Holdings Ltd.), LI Dongsheng (Chairman of TCL Corporation), WU Jianmin and ZHANG Weiying finished a 12-day trip to the U.S. in late November. The visit by renowned Chinese entrepreneurs, economists and diplomats of China was well received in the United States.

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With the theme "The Quest for Innovation, Cooperation and Entrepreneurship", CEC delegation stopped in New York, Philadelphia, Washington D.C., Chicago and Silicon Valley and visited institutions such as the United Nations Headquarters in New York, the Council on Foreign Relations, the Brookings Institute, Eisenhower Fellowships, the Wharton School and Stanford University, as well as enterprises such as Google, Oracle and Facebook. Two business events "the U.S.-China Financial Roundtable Meeting" and "the U.S.-China Business Leaders Summit" were successfully held by CEC in New York.

During the trip, Chinese entrepreneurs met with political and business leaders, such as Secretary-General Ban Ki-moon, the former secretary of state Ms. Madeleine K. Albright, the former secretary of state General Colin L. Powell, CEO and chairman of JPMorgan Chase & Co Mr. Jamie Dimon and founder of Facebook Mr. Mark E. Zuckerberg, and exchanged views on U.S.-China economic and trade relations, the prospects of European and American economies and the investment and innovation environments in the U.S.

On Sino-U.S. economic and trade relations, Madeleine K. Albright said that China is one of the most important trade partners to the United States. Despite the slowing American economy, the U.S. still needs to maintain a stable cooperative relationship and enhance mutual trust with China. Both countries must continue to work together on preventing nuclear proliferation, improving clean energy and monitoring many uncontrollable factors of the global economy. U.S. Secretary of Commerce John E. Bryson hopes to increase direct communications between enterprises in China and the U.S. to stimulate trade for both countries.

CEO and chairman of JPMorgan Chase & Co Jamie Dimon offered his view on the European Debt Crisis. Dimon said that the crisis in Europe would not pose systematic threats to the U.S. financial sector. However, Europe must prevent the debts of Greece - the source of European economic problems - from permeating Spanish and Italian markets. Former U.S. Treasury Secretary and member of the Council of Foreign Relations, Robert E. Rubin, said EU was slow on responding to crisis management and China should step in to intervene if necessary. LIU Chuanzhi responded that the extensive welfare system in Europe is one of the factors causing the decline in the competitiveness of European countries.

Rubin mentioned that though the U.S. economy faces a large challenge at the moment, with abundant capital, rich natural resources and a strong talent pool, the U.S. economy would thrive in the long run. His only worry is that robust politics may influence the economy. Many Chinese entrepreneurs were also optimistic about the prospects of the U.S. economy and believe that American innovation and leadership will continue to have an advantage in the world.

Regarding investment in the U.S., some Chinese entrepreneurs believe the U.S. should not view Chinese investments with political prejudices and should simplify the procedures for those applying work visas. Chinese foreign relations expert WU Jianmin spoke from his own experiences in the U.S. and Europe and said the investment environment in the U.S. is not very friendly to Chinese investors comparing with the Europe. To this remark, Rubin responded that as long as the investments do not pose threats to national security of the U.S., Chinese companies should get the support they need. Secretary of Commerce Bryson also said the U.S. would provide enough development opportunities for Chinese companies and US government were conducting a project called "Select USA" to offer more incentives for foreign investment, so Chinese companies would benefit from it.  

At Silicon Valley, delegation got a first-hand feel for American innovation and the success it brings. Chinese entrepreneurs expressed that innovation in China does not need to imitate the Silicon Valley model. Instead, the pressing issues are to enhance the environment for innovation, adjust policies governing investment and finance, raise incentives for shouldering risks, protect property rights, IPR, in particular, and create an open and accepting social atmosphere.

During the trip, Chinese entrepreneurs presented the development of their own enterprises to illustrate the opportunities in the Chinese market. They all believe that, while Chinese enterprises will expand foreign investments, the great potential in the domestic market still remains to be the foundation for future development.

"This is a large-scale civil diplomatic activity led by civil entrepreneurs for the first time ever since China's Reform and Opening-up. It is an opportunity to present a sample of the 'Chinese Dream' to the world. We hope the leaders of the Chinese market economy would garner greater understanding of and respect for China. This is one significance of this trip to the U.S.," founder and Deputy Executive Chairman of CEC LIU Donghua said.

Editor's note

About China Entrepreneur Club(CEC)

Established in 2006, the China Entrepreneur Club (CEC) is a non-profit organization consisting of a group of the most influential business leaders in China.

CEC members are outstanding and highly-regarded Chinese entrepreneurs who have enjoyed commercial success by abiding the laws of market economy. They are leaders in their respective fields who have set examples for green transformation and application of new business models, and they have unique management strategies, a strong sense of judgment and enjoy sharing their success.

CEC member companies are all dynamic and economically powerful, with annual revenue of 43 CEC member companies totaling more than RMB 1.5 trillion, together accounting for roughly 4% of China's GDP in 2010.

For more detailed information, please visit:

SOURCE China Entrepreneur Club