To explore the opportunities and challenges for the development of China and America’s economy, trade and investment, and improve the investment environment for Chinese companies, as China’s leading independent think tank, the team of Center for China and Globalization (CCG) organized a roundtable discussion surrounding ‘the bilateral investment of China and America: opportunities and challenges’ at Capitol Hill.
This marks the second time since 2011 for which CCG organized a roundtable discussion on China and America’s trade and economy. To date, CCG is the only think tank from China that has organized such discussions in the capital of the U.S. Over 60 entrepreneurs, experts and political leaders joined in the discussion, including John Dickson, the President of World Trade and Development Group, Zhao Zhenge, the Representative at China Council for the Promotion of International Trade in America, David Wyche, the senior official of Asia Energy, Department of Energy of America, Alexander Hammer, the senior economist and trade commissioner of International Trade Commission of America, Dr. Wang Huiyao, the President of CCG, Yu Weiping, the Vice President of CRRC Corporation Limited, Liu Haiqiang, the senior Vice President of China Unicom in America, William Plummer, the Vice President of Huawei in America, Wang Tianyi, the President of CIIC, Pan Jiang, the First Secretary at Embassy of China in the United States, and Li Yeqing, the Chairman of China Society.
The event was essential to the future relations of China and America. On the one hand, the bilateral direct investment of China and America attained its historical apex in 2016 and the investment of China in America reached 46 billion USD. Furthermore, the meeting between President Xi and President Trump at Mar-a – Lago brought some positive news to discussions surrounding China-U.S. relations. However, on the other hand, the recent fluctuation in the economic and trade relations of the two countries have caused worries to the American government. Currently, the business communities across the Pacific are worried that the trade war between the two countries will obstruct the normal exchange of goods.
The symposium started with Dr. Wang Huiyao’s speech on ‘The Opportunities and Challenges for the Economy, Trade and Investment of China and America’. As an expert from a leading think tank in China, he elaborated the three potential areas of cooperation between China and America. Firstly, China and America should cooperate more on infrastructure construction. China has accumulated much experience in building infrastructure. As America has a huge demand for improved infrastructure, it can be the core area of the two countries’ cooperation. Secondly, the trade deficit between the two countries has been undermining the two countries’ relations. However, the American government fails to realize that its trade surplus brought about by the two countries’ cultural exchange. Every year, more Chinese people study in and visit America than American people’s visit to China. The unbalanced flow of population has created for America numerous revenues. Third, China and America should coordinate more in global governance. America is welcomed to join in the ‘Belt & Road’ Initiatives and Asian Infrastructure Investment Bank. Additionally, China and America can make joint efforts in establishing FTAAP and bringing prosperity to the Asia-Pacific area.
In the following roundtable discussion, the representatives from CRRC Corporation Limited, China Unicom, Huawei, China Council for the Promotion of International Trade, Harvard, Earnest-Young and etc. offered their insight into the chances and challenges for China and America’s trade and investment. They stressed the importance of the cooperation of the two economies and they wished the American government could loosen its investigation into Chinese companies’ investment. Both American and Chinese representatives recognized the impacts of think tanks, companies and policy makers on the investment, economic and trade cooperation between the two countries. Overall, these discussions contributed to the incoming meeting between President Xi and President Trump in November.
The guests who attended the discussion included John Dickson, the President of World Trade and Development Group, Zhao Zhenge, the Representative at China Council for the Promotion of International Trade in America, David Wyche, the senior official of Asia Energy, Department of Energy of America, Alexander Hammer, the senior economist and trade commissioner of International Trade Commission of America, Dr. Wang Huiyao, the President of CCG, Yu Weiping, the Vice President of CRRC Corporation Limited Liu Haiqiang, the senior Vice President of China Unicom in America, William Plummer, the Vice President of Huawei in America, Wang Tianyi, the President of CIIC, Pan Jiang, the First Secretary at Embassy of China in the United States, Li Yeqing, the Chairman of China Society, Zhang Ruijun, the Head of Office of Huawei in America, Ma Qing, the China Chief Economist of International Institute of Finance, Cai Qian, the founder of Voko, Chen Bing, the CEO of The Pacific Institute, Cui Qiao, the Founder of Demo China, Elliot Feldman, the partner of Baker & Hostetler, Jorge Guajardo, the President of McLarty Associates, Ping He, the President of IFCE, Julia Liu, the Vice President of China Society, Marc A. Ross, the Founder and President of Caracal Global Communication Company, and Michael Marshall, the Honorary Editor of UPI.
CCG’s week-long journey to America began on Sep 29 and it will last until Oct 4. During the journey, the team of CCG visited Council on Foreign Relations, Asia Society, National Committee on United States-China Relations and Committee of 100 in New York. In Washington D.C, CCG also plans to organize several symposiums with many world-class think tanks in the U.S., which includes Asia Society Policy Study Institute, AEI, the Heritage Foundation, Center for American Progress, American Migration Policy Institute, Brookings Institute, CSIS, Wilson Center Kissinger Institute on China, and PIIE.
As a leading independent think tank from China, CCG’s visit has facilitated and materialized the cultural exchange and cooperation between China and America. The CCG team includes the following participants: Wang Huiyao, the President of CCG, Miao Lu, the Secretary-General of CCG, Li Weifeng, the Executive Secretary-General of CCG, Tang Beijie, the Deputy Secretary-General, Xiao Huilin, the Senior Researcher of CCG, Wang Zhi, the Non-Resident Senior Fellow of CCG, and Li Yeqing, the Non-Resident Senior Fellow.
This meeting was held in the meeting room of the Council on Foreign Relations of the Senate at Capitol Hill, Washington D.C. As a leading international think tank, CCG provides advice for the Chinese government and companies and offers help to the globalization of Chinese enterprises. As an international think tank, CCG publishes annually ‘Report on Chinese Enterprises Globalization’, ‘Annual Report on Chinese Students Studying Abroad’, ‘International Migration of China’ and etc. CCG has been influencing policy-making and public opinions by its research results, publications and bluebooks. CCG is dedicated to organizing overseas high-level activities and developing ‘track-II’ diplomacy.
The participation of Chinese enterprises in the development of the Belt and Road Initiative involves successive echelons of participation, and private enterprises are increasingly involved in the initiative, the Report on Chinese Enterprises Globalization indicates.
CCG’s Blue book Report on Chinese Enterprises Globalization (2017) was published by the Social Sciences Academic Press in Beijingon Nov. 8, 2017. Deputy Editor in Chief of Social Sciences Academic Press Cai Jihui and CCG President Dr. Wang Huiyao jointly presented the report.
The Center for China and Globalization (CCG) launched its Hong Kong Council on Nov. 12, 2017. Mr. Leung Chun-ying, the vice chairman of the CPPCC and former Chief Executive of the Hong Kong SAR, addressed the ceremony. Tung Chee-hwa, the vice Chairman of the CPPCC and the first Chief Executive of the Hong Kong SAR, sent a letter to congratulate the event.