Trade-in­vest­ment cen­ters to boost US-China ties

China Daily (Canada) - - NEWSCAPSULE -

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.

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