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China US Economic Technology Summit Kicks Off in Silicon Valley

By Li Mu (People's Daily Online)

14:20, October 30, 2012

The 2012 China US Economic and Technology Forum kicked off at San Jose City Hall on Oct. 26. More than 200 guests took part in this event.

The summit, held by China Enterprise Association (CEA), was the first of its kind that involved Sino-US senior government officials, business leaders, experts and scholars, entrepreneurs and investors.

The one-day summit discussed and analyzed economic outlook of China and America, legal and finance considerations in investment planning in United States, the trends of the mobile and cloud computing in the business world, as well as development and investment opportunities in bio tech. It also provided business information of angel funds and business cooperation.

Silicon Valley is the largest IT industry and biotechnology R&D center in America. It attracts more than 75 percent of venture capital from Wall Street and is also the dreaming cradle of global startups. Data from Asia Society shows that the total amount of direct investment from China to U.S. reached $ 11.6 billion between 2003 and 2010.

"Silicon Valley owns top talents from all over the world, and attracts Chinese enterprises as well. This summit is committed to helping Chinese enterprises to further develop and get access to capital and market in America," said Ben Chen, the president of CEA, at the opening ceremony.

More than 25 panelists, including Xiang Xia, the Economic and Commercial Counselor of China's Consulate General in San Francisco; Bruce Pickering, the Executive Director of Asia Society's Northern California Center; Karl Kou, the vice President Solutions Sales and Marketing of Huawei; Jeanette Garretty, the Senior Vice President of the Greater Bay market of Wells Fargo Private Bank, discussed hot topics in areas of the competition and cooperation of China and the United States in the process of high-tech development, China's cross-border financial and technical services, legal barriers of Chinese enterprises coming to the U.S. and mobile technology and cloud computing in the field of business development.

"China's capital is eager to connect Silicon Valley's advanced technology and experience with the Chinese market and human resources to create a next great company in the field of high-tech innovation and biochemical pharmacy," said Del Christensen, the chief of global business development for the Bay Area Council,

Vivian Wang, a partner from Deloitte Tax LLP, said: "The relationship between China and the United State is the most important bilateral relations in the world. This is why Deloitte behind great organizations like CEA. …... It’s a great honor for Deloitte Chinese Services Group to sponsor this event."

Established in 1997 as a non-profit organization, China Enterprise Association has grown rapidly. It represents Chinese corporations who have investments and business in California. It has more than 80 Chinese member companies in America from diverse industry backgrounds, including telecom, hi-tech, finance and investments, clean and bio tech and travels. Over 10 of its members belong to Global 500 Companies.

Gao Zhansheng, the Consulate General of China in San Francisco and Chuck Reed, the Mayor of San Jose, sent welcome letters and offered their congratulations to the event.

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