2nd CIIE provides platform to build trade ties with China: Senior Director of Bay Area Council Economic Institute

Sean Randolph, Senior Director of the Bay Area Council Economic Institute, says the 2nd CIIE is an important event and a valuable opportunity to build more trade ties with China.（Photo by Xian Jiangnan/People's Daily Online）

The second China International Import Expo is an important event and provides opportunities for US companies to build more trade ties with China, said Sean Randolph, Senior Director of the US-based Bay Area Council Economic Institute.

In an interview with People's Daily Online during the China Inbound-Outbound Forum 2019 held in Beijing last weekend by the Center for China and Globalization, Randolph shared his views on topics including the Greater Bay Area, the Belt and Road Initiative, the second China International Import Expo and China's development.

Compared with these world-level Bay Areas, the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is still a new concept to people outside of China. When asked about the reason why the GBA does not wish to be the next Silicon Valley, instead choosing to develop its own uniqueness, Randolph pointed out that a unique strength of the GBA is that it has so many different assets that it can combine to create a more compelling business environment.

"It is Guangdong province, Hong Kong SAR, Macao SAR, three regions, that form the GBA, so it needs to combine the strengths of each region, like the manufacturing capacity in Dongguan and Guangzhou, financial service expertise and financial markets in Hong Kong, and talents in Shenzhen, which are extremely significant to China and all around the world."

Randolph regarded the GBA as an important part of the BRI. He held that the GBA is an innovation and manufacturing area, which is an integral part of the BRI.

According to Randolph, transparency is essential to effectively organize different regions and countries to overcome institutional barriers of collaboration.

The second China International Import Expo (CIIE) will be held from Tuesday to Sunday in Shanghai, attracting more than 3,000 companies from over 150 countries and regions to attend.

"The expo is important, as it does show that China is serious about addressing the trade imbalance around the globe, and it shows that China is interested in strengthening its consumer economy and importing more, which is a very good thing," said Randolph.

The Bay Area Council (BAC), which produces authoritative analyses on economic policy issues affecting American regions and states, organized a pavilion for the state of California last year and brought a Californian company, the only government organization in the United States to have a physical presence, to Shanghai.

The BAC has a larger group that will exhibit with Californian companies at this year's expo. "We see it as an important event and an important opportunity to build more trade ties with China," Randolph said.

Furthermore, Randolph extended his congratulations to China on the country's significant developments over the last 70 years. He said what impressed him the most is how quickly the quality of life has improved in China.

"There are a lot of achievements seen in the last 70 years. China's economy has matured; the development of those very innovative companies is extremely impressive in the development markets."