BANK OF CHINA ACTIVELY SUPPORTS THE 2024 CHINA-CALIFORNIA BUSINESS FORUM

The 2024 China-California Business Forum was held at the Millennium Biltmore Hotel in Los Angeles on May 20. This year, Shanghai is the Guest City of Honor. Shanghai Mayor Gong Zheng delivered the keynote address for the forum. Other speakers included Guo Shaochun, Chinese Consul General in Los Angeles; Hu Wei, CEO & President of the Bank of China U.S.A. and Chairman of the China General Chamber of Commerce U.S.A. (CGCC USA); Eleni Kounalakis, Lieutenant Governor of California; Judy Chu, U.S. Congresswoman; and Karen Bass, Mayor of Los Angeles. 

In his speech, Mayor Gong Zheng outlined the 'five centers' initiative and the current economic development of Shanghai. He highlighted projects such as the Plug and Play China Yangtze River Delta Headquarters, Tesla Gigafactory Shanghai, Port of Shanghai – Port of Los Angeles transpacific green shipping corridor, and Shanghai Disney Resort. He expressed a desire to further deepen cooperation in a bid of achieve high-level, win-win cooperation.

Chinese Consul General Guo Shaochun stated the forum will vitalize subnational cooperation and promote sound, stable and sustainable development of China-U.S. relations, particularly in the fields of investment and trade. He noted that bilateral economic and trade cooperation has facilitated growth in employment and the economy, benefiting the people of both China and the U.S.       

Hu Wei, CEO & President of the Bank of China U.S.A and Chairman of CGCC USA, emphasized that Bank of China is honored to continue the supporting this significant collaboration platform. He hopes the collaboration will continue to build bridges and work towards a prosperous and sustainable future. He highlighted three key areas that underscore the importance of this unique collaboration: economic synergy, technological innovation, and sustainable development.

Plenary panels and fireside chats on bilateral FDI opportunities, state-province level investment opportunities, exhibition and tourism cooperation, and US-China cleantech cooperation were hosted. Many participating companies and organizations presented booths at the forum venue.

The China-California Business Forum is an annual economic and trade event under the China Provinces and U.S. California Joint Working Framework for Trade and Investment cooperation. Since its inception in 2016, the forum has welcomed thousands of guests from academia, business and government from China and the U.S. Participants have engaged in professional discussions on topics including clean tech, e-commerce, agriculture and innovation cooperation. This year's forum featured topics including FDI, tourism, and cleantech. A series of MOUs were signed during the event to boost trade cooperation between China and California. China Import and Export Fair promotion conference was also hosted. The forum attracted over 500 attendees.
As the most globalized Chinese bank with specialization in foreign exchange and foreign trade, Bank of China is honored to be the special sponsor of this forum. It has provided key supports for the forum’s preparations and onsite event service. Our global reach and international service system allow us to enhance efficiencies while facilitating cooperation, trust, and exchange between U.S. and Chinese clients, domestically and around the world.