The China-California Business Forum was held in Los Angeles on Monday, bringing together officials, business organizations and companies with the goal of expanding business ties and trade cooperation.
Addressing the event, Chinese Consul General in Los Angeles Guo Shaochun said China is California’s largest trading partner and California has the largest presence of Chinese-invested companies among all states in the United States. The economic and trade cooperation has facilitated growth in employment and economy, benefiting the peoples of both China and the United States.
In 2023, China was California’s top trading partner with two-way trade amounting to over $137 billion. More than half of the containers entering and leaving the Port of Los Angeles are for trade with China, and 70 percent of the cargo volume at the Port of Long Beach is China-related, according to Guo.
Calling the China-California Business Forum an important platform for deeper communication and broader business opportunities, Guo said the forum will vitalize subnational cooperation and promote the sound, stable and sustainable development of China-U.S. relations.
Lieutenant Governor of California Eleni Kounalakis said the relationship between California and China is special, citing California’s location on the Pacific Rim, large Chinese American community, significant trading activities and student exchanges.
“All of those have led to the creation of longstanding and respectful friendship,” she said.
This year’s forum featured a Chinese delegation consisting of over 150 top business leaders and trade officials from dozens of provinces. Shanghai was the Guest City of Honor this year.
The forum focused on a number of important sectors, including clean technologies, e-commerce, agriculture, infrastructure and innovation.
A series of memoranda of understanding were signed during the event to boost trade cooperation between China and California, including one between World Trade Center Los Angeles and Shanghai Foreign Investment Development Board, and another between San Francisco International Airport and Shanghai Airport Authority.
The China-California Business Forum is an annual economic and trade event under the China Provinces and U.S. California Joint Working Framework for Trade and Investment cooperation. The event was founded to boost pragmatic cooperation in trade and investment between California and related provinces and cities in China.
Starting from 2016, the previous five forums have drawn in over 2,100 attendees.
