Exclusive interview: the Expo highlights the great attraction of the Chinese market to American enterprises-- an interview with Xu Chen, president of the US General Merchants of China
New YORK, 13 Nov (Xinhua) an exclusive interview: the Expo highlights the great attraction of the Chinese market to US enterprises-- an interview with Xu Chen, president of the US General Merchants of China
Xinhua News Agency reporter Liu Yanan
Xu Chen, president of the US General Merchants of China and president of the US region of the Bank of China, said in an exclusive interview with Xinhua on the 13th that at the second session of China International Import Expo, which had just ended, US exhibitors had a wide range of industries and a large degree of investment. This reflects the great attraction of the Chinese market to US companies.
Xu Chen said: it is understood that this year, US enterprises have actively participated in the exhibition, and the number of exhibitors has significantly increased over last year, including Qualcomm, Boeing, General Electric, Cargill, Johnson, and many other US Fortune 500 enterprises or industry leaders participated in the Expo.
Xu Chen said: "I have communicated with many US entrepreneurs attending the meeting, and I can feel that even though there are some frictions in bilateral trade between China and the United States at present, they cannot stop the importance and enthusiasm of US enterprises towards the Chinese market."
He said that today's world is a "buyer's world", competition is unprecedented fierce, who can understand, meet, surpass or even create demand, who can seize the opportunity for future development. After decades of rapid development, China has undoubtedly developed into a buyer's market of great value. In the future, China's high-quality development and consumption upgrading will bring a higher level of demand and greater market space to the world.
The economies of China and the United States are highly complementary. China is both a "world factory" and a "global market." there is a great market demand for energy, minerals, soybeans and other commodities. Education, culture, sports and other services account for nearly 50% of the consumption, and these are the resources and industrial advantages that the United States has.
Xu Chen believes that profits from the Chinese market have become an important source of huge R & D investment for US high-tech companies. In the field of trade in services, many American enterprises have made huge gains in the Chinese market. With the further transformation, upgrading and opening up of China's economy, there is great potential for trade in services, and there is still more room for development in the future.
Financial cooperation between China and the United States is also developing rapidly. In addition to banking, securities, insurance and other traditional financial fields, China and the United States have broad room for cooperation in asset management, equity investment, futures, funds, consulting services and other fields.