US companies reap harvest of bilateral cooperation in China
Sino-US economic ties will be strengthened by US President Donald Trump’s three-day visit to China, and cooperation will be deepened via more new deals, US company delegates told the Global Times on Thursday.
“We are grateful to be part of this prestigious trip mission led by Commerce Secretary Wilbur Ross during President Trump’s visit. This trip will help us strengthen existing relationship with our Chinese partners and hopefully make new ones,” Li Zhao, country representative of Stine Seed Co, told the Global Times on Thursday. Stine Seed is the largest independent seed company in the US.
As one of the delegates joining the US trip to China, Zhao said, “Our goal is to provide as many Chinese farmers with high-yielding genetics as possible.”
Paul Doherty, president and CEO of The Digit Group (TDG), a New York-based company focused on smart-city solutions, was also part of the delegation of 29 US company representatives.
Doherty told the Global Times on Wednesday that his company has nurtured relationships and business opportunities in China with leading local companies in areas such as transportation and energy. He said that TDG has agreed on deals worth $4.85 billion with its Chinese partners, and the signing ceremony will take place later this week.
“I’m excited to highlight our expansion in China with some exciting projects, including a 500-acre virtual reality (VR) theme park in Qingdao [East China’s Shandong Province], a deal with China’s leading bus manufacturer Foton, and a joint venture with Gateguard, a Chinese company focused on urban safety and security solutions,” Doherty said.
“Our deals will create tens of thousands of job opportunities in both China and the US. In the VR theme park, we will focus on creating an entire community with different functions, such as an incubator, e-travel and healthcare, ultimately to showcase not just ‘Made in China’ but also ‘Created in China'," Doherty noted.
US executives also expressed their confidence in future cooperation in China. “Like doing business in many other areas around the world, doing business in China will have its unique challenges when operating under a different cultural and legal environment. We are very positive about China and excited to participate in the world’s second-largest seed market,” Zhao said.
Zhao also said that sectors where China is logging behind the US will improve over time.
“Our China business is steadily growing and today we just signed a joint venture agreement witnessed by Vice Premier Wang Yang and other distinguished government officials. We are looking forward to our rapid expansion in China in the coming years,” Zhao added.