China's Trading Megacity Outlines Ambitious Agenda for Shared Sino-U.S. Economic Prosperity

WASHINGTON, March 14, 2017 /PRNewswire-USNewswire/ -- Vice Mayor Cai Chaolin of the City of Guangzhou—China's trading and manufacturing capital with annual GDP of USD 290 billion—today convened more than 100 leaders from top American companies, trade organizations and policymakers, to outline an agenda for continued economic vitality between the United States and China. The event featured executives from U.S.-based Fortune 500 companies, who discussed the forces shaping the next generation of globalization, trade and innovation, and prospects for the largest bilateral trade relationship in the world.

"As the commercial relationship between the US and China moves into uncharted territory – the private sector and cities, such as Guangzhou, are increasingly vital to strengthening economic ties and promoting co-investment," said Vice Mayor Cai. "Guangzhou is the Asia-Pacific base for many of the world's most innovative and fastest growing companies, benefiting from our world-class transportation links into China and the region. Guangzhou-based companies invested more than USD 5.3 billion internationally in 2016, and nearly half of all Fortune 500 companies have operations in the city. Guangzhou continues to attract the world's best, brightest and boldest," he added. 

Guangzhou's GDP is equal to that of Miami-Fort Lauderdale and Missouri. It sits at the center of East-West and North-South trade, serving as a gateway to and from China. For more than 2,000 years, Guangzhou—also known as Canton—has been a major hub connecting China to the world. Imports to China through Guangzhou exceeded USD 52 billion in 2015, and the city facilitated nearly USD 7 billion of foreign investment into China in 2016. Today it has emerged as leading global consumer market, with more than USD 119 billion in annual consumer spending. 

The panel, themed "Strengthening U.S.-Sino Commercial Ties in a Dynamic Global Context," was moderated by Nina Easton, co-chair of the Fortune Global Forum, which Guangzhou will host in December 2017. The discussion featured U.S. representatives from the private and public sector, including:

• Karan Bhatia, Vice President for Global Government Affairs, General Electric
• Audrae Erickson, Vice President for Government Affairs, Mead Johnson
• Tim Fenton, VP, Global Government Relations, Thermo Fisher Scientific
• Henry Levine, Senior Advisor, Albright Stonebridge Group and former Deputy Assistant Secretary for Asia, US Department of Commerce

"As global trade faces major new challenges, multinational companies and progressive cities are stepping forward. As countless companies and executives can attest, American businesses, consumers and workers benefit from the kind of open trade environment promoted by cities like Guangzhou, which has long been at the cutting edge of globalization and innovation," said Easton.

This panel discussion is an agenda-setting event on the road to the Fortune Global Forum, which will be hosted by Guangzhou from December 6 to 8, 2017. It will be the fifth Fortune Global Forum to be held in China.

Contact: Sutton Resler
(571) 236-4966

SOURCE City of Guangzhou