BANK OF CHINA U.S.A. SUPPORTS THE SIGNING CEREMONY OF THE MOU BETWEEN SHANGHAI GENERAL CHAMBER OF COMMERCE AND CHINA GENERAL CHAMBER OF COMMERCE-USA

On May 20, BOC U.S.A hosted the signing ceremony of the MOU between Shanghai General Chamber of Commerce and the China General Chamber of Commerce-USA (CGCC-USA). Attendees and speakers included Hu Wei, CEO & President of the Bank of China U.S.A. and Chairman of the CGCC USA; Wang Jianming, Vice Chairman of Shanghai General Chamber of Commerce; Zhu Wenkui, Vice President of Fosun International Limited; Yang Chunfei, President of China Eastern Airline-U.S.; Ye Chun, President of China Citic Bank Los Angeles; Dong Jun, President of Shanghai International Holding Corp. (America); and Zhang Jun, attorney. Over 60 representatives from U.S. businesses, trade associations, and investment promotion agencies attended the event. The ceremony was moderated by Li Peng, Branch Manager of Bank of China Los Angeles.

Hu Wei underscored that Bank of China reopened its New York branch in 1981 and opened its Los Angeles branch in 1988. Bank of China has made significant contributions to trade and investments between Shanghai and Los Angeles. CGCC shares a similar vision. As the largest nonprofit organization representing Chinese enterprises in the United States, CGCC plays a crucial role in strengthening bilateral trade relations, promoting mutual investment, and deepening understanding between the two countries. 

Wang Jianming highlighted in his speech that private sector in Shanghai has rich innovation capabilities. Enterprises base in Shanghai have global visions. With the accomplishments of the Belt and Road Initiative, and the establishment of “Silk Road” e-commerce pilot zone, these enterprises will promote innovations and high-quality development. The Shanghai General Chamber of Commerce continues build relationships with enterprises and provide services to them. 

Some representatives participating in the signing ceremony shared their insights into the achievements made since the establishment of diplomatic ties between China and U.S. The two heads of state held a historic meeting in San Francisco last November, where they outlined the "San Francisco Vision" for the future, charting the course and adding impetus to bilateral relations. The entire signing ceremony received warm responses from attendees. They commented that the signing ceremony is a good practice for connecting enterprises of the two countries, promoting dialogue and sharing insights to achieve win-win cooperation. 

The Shanghai General Chamber of Commerce delegation expressed gratitude to BOC U.S.A for its support, and underscored BOC’s comprehensive banking services provided to American companies. Bank of China and CGCC USA will continue to support financial, economic and trade exchanges between Shanghai and the U.S., promoting the sound and sustainable development of China-U.S. relations.