Trade-investment centers to boost US-China ties
A cluster of global trade and investment centers to be launched in the United States will bring the US and China closer by fostering “great cooperation through great capitalism”, a US corporate executive behind the project said.
Michael Gordon, chairman and CEO of Los Angeles-based USAChina Investments Group, said the company plans to establish five centers in the next two years with China Industrial Cooperative Association, an industrial and economic development organization.
Under the plan, supported by China’s Ministry of Commerce, the first centers would launch in Los Angeles in July. A second would open in San Francisco in the fall. Centers also are planned for New York, Chicago and Houston next year.
USAChina Investments Group is investing about $9 million in each center, Gordon said. The company would generate profit from rental and membership fees and service fees, he said.