A boost for bilateral business at Calif. Forum

Chinese and American officials highlighted the success and importance of cross-border cooperation on Wednesday at an annual event aimed at promoting dialogue and bilateral trade between China and California.

More than 500 government and business representatives, including around 160 Chinese delegates, gathered for the fourth installament of the China-California Business Forum, an event hosted by the Chinese Consulate General in Los Angeles to promote subnational level opportunities in multiple sectors — from clean energy to advanced manufacturing.

"I feel great as I landed in Los Angeles. It is much more agreeable here. You have good temperatures and a great atmosphere for business cooperation. However, the story in Washington DC is quite different, the temperature goes up to like 90 degrees Fahrenheit," said Zhu Hong, minister for commercial affairs at the Chinese embassy in the United States.

China is California's largest trading partner, Zhu noted. Exports to China support 153,000 jobs for Californians.

Addressing the current trade tensions, Zhu said talks have not broken down between the two largest economies in the world, but differences do exist.

"However severe the situation goes, China will not close its door; it will only open it even wider, and cooperation is the only right choice for both of us," he added.

California Lieutenant Governor Eleni Kounalakis, another guest speaker at the event, said two-way trade with China is crucial to the economy of California.

"Although California does not set trade policies, we have more to gain or lose than any other states," she said.

China has more foreign direct investment in California than in any other state in the US. Thirty-seven percent of imports coming into the twin ports of Los Angeles and Long Beach are from China, and 9 percent of US exports that move through the ports go to China.

In addition, California has six tourism offices in China, the most in any country. The state also invests $10 million every year in advertising to welcome Chinese guests, Kounalakis said.

"There are certainly some challenges right now in the trade relationship between the US and China, and again, although the power to regulate trade rests with the federal government, California will continue to work and develop relationships and programs to promote trade and investment with China," she said.

She highlighted the progress in the cooperation between China and California in combating climate change.

Representatives from eight provinces and municipalities from China — Guangdong, Jiangsu, Shandong, Hubei, Sichuan, Inner Mongolia, Shanghai and Chongqing — attended the conference.

Ouyang Weimin, the vice-governor of Guangdong province, the guest province of honor at the conference, said Guangdong has enjoyed a close economic relationship with California.

He said Guangdong is pushing ahead with the construction of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), an initiative announced by the Chinese government in 2017 that aims to transform the region.

"We believe that the implementation of the Greater Bay Area Strategy will bring historic new opportunities for a new era of cooperation between Guangdong and California," he said.

Chinese Consul General in Los Angeles Zhang Ping encouraged people to take a long-term approach and look beyond the present trade friction.

"We always believe that friendship and cooperation is the driving force of China-US relations. No matter how many differences we may have, there still exists a wide range of common interests between China and US," he said.

"We need reason, and not rhetoric. We need cooperation and not confrontation to resolve our differences," said Brian Peck, chair of the Los Angeles Regional Export Council.