Bank of China USA actively supported the 136th Canton Fair New York promotion conference successfully held

On the afternoon of May 22, the 136th Canton Fair New York promotion conference was held at the Bank of China New York Branch. Mr. Huang Ping, Consul General of the Consulate General of China in New York, Mr. Chu Shijia, Chairman of the Board and President of China Foreign Trade Centre Group Ltd, Mr. Hu Wei, Chairman of China General Chamber of Commerce USA and President of Bank of China USA, Abraham Merchant, the President of Merchants Hospitality, Kevin Kuehl, the senior vice president of Big Lots, and Kate Sullivan, the executive director of Greater Columbus Chinese Chamber of Commerce, attended and addressed at the event. Over 120 people, including heads of US enterprises, business associations, trade and investment promotion agencies, and media representatives, attended the event.

Mr. Huang Ping, stated that since the establishment of US-China diplomatic ties 45 years ago, the economic and trade exchanges between the two countries have shown that their common interests far outweigh their differences. He emphasized that the economic and trade cooperation between the two countries is highly complementary. China's GDP growth rate reached 5.2% last year and 5.3% for the first quarter of this year. The long-term positive trend of the Chinese economy remains unchanged. The Canton Fair promoted imports and exports, which fully demonstrates China's determination to open up its market. He expressed hope that more and more American enterprises will continue to use the Canton Fair as a platform to establish good relations with Chinese enterprises, enjoy the Chinese market, and achieve mutual benefit and win-win results.

Mr. Hu Wei, said the Canton Fair has witnessed China's economic development and its process of opening up. Since the very first Canton Fair in 1957, Bank of China has supported the fair for more than 60 years by hosting promotional events and providing on-site financing services to participating customers’ companies. President Hu expressed hope that Chinese and American enterprises will make full use of the Canton Fair to seek cooperation opportunities and maximize win-win outcomes. He reaffirmed that Bank of China will continue to provide professional, efficient, and high-quality financial services for the American exhibitors. He continued by confirming that the bank will leverage its international network and the linkage between domestic and overseas branches to facilitate Sino-US economic and trade exchanges.

Mr. Chu Shijia, introduced the Canton Fair, held in Guangzhou every spring and autumn, and highlighted its history and achievements. Over the past 67 years, the Canton Fair has upheld its principal of "Canton Fair, Global Share," growing from strength to strength. Known as "China's No.1 Fair", the Canton Fair not only allows global consumers to benefit from Chinese manufacturing but also provides an efficient platform for products from other countries to enter the Chinese market and reach global audiences. Mr. Chu expressed hope that American enterprises will actively participate in the Canton Fair, use its extensive platform to expand market for American products, and promote bilateral economic and trade development.

Abraham Merchant, Kate Sullivan, and other American enterprise representatives shared the positive impacts the Canton Fair has had on their companies development.

The fair was organized by China Foreign Trade Center, supported by Bank of China USA and China General Chamber of Commerce USA. As the only financial institution to serve the Canton Fair for over 60 years, Bank of China leverages its global operation to provide comprehensive financial services, such as cross-border investment and financing, RMB clearing, and settlement for import and export trade, helping Chinese brands expand internationally. The Bank of China USA actively participated in the promotion activities of Canton Fair in the United States, inviting local businesses to join the promotion event fostering multilateral trade exchanges.