Business leaders highlight China-US cooperation

Chinese and American business leaders, diplomats and community representatives gathered in Los Angeles on Friday to celebrate the annual conference of the China General Chamber of Commerce Los Angeles, emphasizing the continued importance of bilateral trade and business cooperation between the United States and China.

Speakers at the event underscored the resilience of economic ties between the world's two largest economies and called for continued dialogue, practical cooperation and mutual engagement amid a complex global economic environment.

Guo Shaochun, consul general of China in Los Angeles, shared his perspectives on the evolving landscape of China-US economic relations and China's long-term development outlook.

Despite uncertainties in the global economy, China's economy has demonstrated stability and resilience, Guo said. He noted that China remains one of the key contributors to global growth, accounting for about 30 percent of global economic expansion in recent years.

Looking ahead, Guo said 2026 marks the beginning of China's upcoming national development cycle under the 15th Five-Year Plan (2026-30), which will focus on advancing modernization while maintaining economic stability.

"Over the next five years, China will continue to leverage its advantages as a large-scale market and strengthen self-reliant innovation," Guo told the gathering. "At the same time, China will continue to create and share more development opportunities with the rest of the world."

Guo also highlighted the importance of China-US relations for global economic stability. Referring to recent high-level interactions between leaders of the two countries in 2025, he said economic and trade cooperation continues to serve as the "ballast" of bilateral relations.

"The essence of China-US economic and trade cooperation is very clear — mutual benefit and win-win results driven by the complementary strengths of our two economies," Guo said. "Therefore, we should continue enhancing communication and exchanges to expand cooperation and narrow differences."

He also noted that Chinese enterprises have long played an active role in Southern California's economic development. Companies such as Air China, China Eastern Airlines, China Southern Airlines, Bank of China, Industrial and Commercial Bank of China, CITIC Bank, China Unicom, JD Logistics and BYD have established operations in the region, contributing to job creation and local economic growth.

The recent opening of a flagship store by Chinese sportswear company Anta Sports in Beverly Hills was cited as another example of the vibrant commercial exchange between the two countries.

Guo also announced that the chamber's eighth business forum will take place on May 12, with China's Hainan province serving as guest of honor. The forum will focus on topics including trade facilitation, investment in free trade zones, agriculture and food products, and cooperation in strategic industries.

At the event, Hu Wei, president and CEO of Bank of China USA and chairman of China General Chamber of Commerce USA, highlighted the resilience of Chinese companies operating in the United States.

Hu acknowledged that Chinese investors in the US have faced a range of challenges over the past year, including evolving regulatory environments, geopolitical tensions and shifts in global supply chains.

"The business landscape has not always been easy to navigate," Hu said. "However, despite these challenges, Chinese enterprises have continued to demonstrate resilience and adaptability."

According to Hu, that resilience reflects a long-term commitment to cooperation and a strong belief in the enduring value of economic ties between the US and China.

"Looking ahead, I remain optimistic about the opportunities for cooperation between the two sides," Hu said. "Through continued engagement, mutual respect and practical cooperation, the US-China relationship can remain a powerful force for innovation, growth and global prosperity."

Chang Liu, president and CEO of Cathay Bank, reflected on the bank's long history serving Chinese American communities and supporting economic exchange between the two countries.

Founded in 1962 in Los Angeles' Chinatown with $500,000 in capital to serve Chinese immigrants and small businesses, the bank has grown into a major financial institution with more than $24 billion in assets, operating 62 branches across the United States, as well as a branch in Hong Kong and representative offices in Beijing and Taipei.

Liu said long-standing relationships between communities, businesses and financial institutions have helped sustain economic cooperation despite geopolitical tensions.

"It's really about the two biggest economies in the world cooperating and partnering with each other," Liu said. "Those relationships matter even more amid today's geopolitical frictions."

Innovation and education partnerships were also highlighted as key drivers of long-term economic growth.

Jack Hu, chancellor of University of California, Riverside and a member of the National Academy of Engineering, spoke about the role of universities in fostering technological innovation and industry collaboration.

Hu said partnerships between universities and industry can serve as a powerful "engine" for economic development by transforming academic research into market-ready products.

"Our focus is on creating market-ready products and fostering long-term economic prosperity through academic-industry partnerships," he said. "That includes collaboration with partners around the world, including China."