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Wang Yang:Further Enhance Cooperation Between Chinese Provinces and US States in Economy, Trade and Investment

On November 22, 2015, when attending the 26th session of the China-US Joint Commission on Commerce and Trade (JCCT) in Guangzhou, Vice Premier Wang Yang jointly attended the seminar on Economic and Trade Cooperation between Chinese provinces and US states with Secretary of Commerce Penny Pritzker and Trade Representative Michael Froman of the US.

Wang Yang delivered a speech entitled "Push Giant Ship of China-US Economic and Trade Cooperation to Sail for Long Voyage ". He said that the US merchant ship "Empress of China" created a navigational miracle in 1784, which not only kicked off China-US economic and trade cooperation, but also set up a monument of bilateral cooperation at local level. At present, China and the US have established relations of 43 pairs of sister province-state and 200 pairs of sister cities. 21 Chinese provinces and cities and 6 US states (cities) have established joint working groups on trade and investment cooperation. According to statistics of the US, export of 42 US states to China in the past decade has more than doubled; Chinese enterprises' direct investment in the US in the past 5 years has increased by 7 times to more than 41 billion USD in total, covering 44 US states and creating over 80,000 jobs. Such cooperation not only brings tangible benefits to local places in the two countries, but also builds the edifice of China-US cooperation taller and taller.

Wang Yang expressed that when President Xi Jinping attended in Seattle the China-US Governors Forum during his visit to the US this September, he not only spoke highly of the achievements in bilateral provincial and state cooperation, but also put forward his ardent expectations. Meetings of the two heads of state of China and the US also saw important consensus on strengthening provincial-state cooperation. During this session of the JCCT, the two sides will sign the Memorandum of Understanding on Establishing Working Mechanism in Promoting China-US Local-Level Trade and Economic Cooperation. This is a concrete action to implement the consensus reached by the two heads of state. It is hoped that the two sides will make joint efforts to transform the political will of the two heads of state and the common expectations of enterprises of the two sides to more practical achievements, so as to push China-US local cooperation and economic and trade relations to new highs.

Governor of Arkansas Asa Hutchinson and Mayor of Chicago Rahm Emanuel of the US expressed that at present US-China local cooperation maintains a sound development momentum. Local governments of both the US and China hold a positive attitude towards strengthening mutual investment and trade in fields like infrastructure construction, agriculture and food, and look forward to advancing communication and exchanges in such aspects as education, culture and tourism.

Penny Pritzker and Michael Froman expressed that local cooperation creates newer and broader approaches for bilateral economic and trade relations. The industrial and commercial circles often can put forward constructive advices on economic, trade and investment policies, so governments of the US and China are willing to enhance contacts between governments and business circles. The US and China will accelerate the signing of bilateral investment agreement, so that the industrial and commercial circles and the masses can benefit more from US-China economic, trade and investment relations.

Over 300 people including representatives of provinces, states and cities participating in the province-state economic and trade cooperation mechanism and representatives from industrial and commercial circles of both China and the US attended the activity. The two sides also held in Guangzhou a conference on province-state economic and trade exchanges and enterprises matchmaking.

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