China's Shenyang city promotes business exchanges with Chicago

10:50, October 28, 2009      

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The municipal government of Shenyang, a city in northeast China, is dedicated to promoting business exchanges with its sister city Chicago, a Shenyang official said in Chicago on Tuesday.

"My visit to Chicago is to enhance business cooperation between Chicago and Shenyang. I met a lot of entrepreneurs and business leaders this time in Chicago and look forward to doing business with them in the future," Yang Yazhou, vice mayor of Shenyang, said during a luncheon hosted by Sidley Austin LLP, a leading law firm in Chicago.

Yang briefed his host on Shenyang's strong economic development over the past year and its strategies to thrive during the global recession.

"Our stimulus plan is to encourage investment in agriculture, industries, infrastructure and education. It has shown positive effects," he said.

"As one of our policies to deal with the global financial crisis, we provide great incentives to help our companies pursue overseas mergers and acquisitions."

When asked why the Chinese government is encouraging Chinese companies' overseas expansion, the vice mayor said, "We need technology to advance our economic development in China. We are especially interested in high and new technologies and also in manufacturing industries."

Bill Spence, co-chairman of Sister Cities China Committee, has been to Shenyang for ten times over the past few years and notice dremarkable changes there.

"Shenyang is Chicago's first sister city in China. Over the last few years, we have had many business and cultural exchanges. There is even a Chicago Garden in Shenyang designed by a famous Chicago architect," he said.

Talking about Shenyang-Chicago business cooperation, Spence proudly pointed to a 70-story high-rise building outside the window, saying the glass wall was actually supplied by a company in Shenyang.

Thomas W. Albrecht, chairman of International Operations Committee at Sidley Austin LLP, told Xinhua: "We would like to join the world in applauding China and Shenyang for its phenomenal economic achievements."

The Shenyang government opened an Economic & Trade Office in Chicago last year. Shenyang, capital of China's northeastern Liaoning province, is the economic, cultural, traffic, financial and trading center in northeast China.

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