California Investment Summit Targets Chinese Foreign Direct Investment
Sacramento, Calif. - On the heels of Governor Brown's highly successful trip to China, the Governor's Office of Business and Economic Development (GO-Biz), in partnership with the California-China Trade Network, hosted the first ever Select California Investment Summit in Sacramento to connect Chinese investors with California economic development and business leaders looking to bring projects to their regions. California economic development and business representatives pitched their regions and projects as destinations for new foreign direct investment to a group of 22 Chinese investors focused on clean tech, water innovation, sustainable development, zero emission vehicles, and more.
"Chinese investors are looking to California for new opportunities and GO-Biz is actively working to connect them with regional business leaders that want to attract new sustainable development projects to their areas," said Awinash Bawle, GO-Biz Deputy Director for International Affairs and Business Development. "This summit is a continuation of the Governor's efforts in China and further proof that California is a world leader in the cultivation of clean technology projects that help address climate change, decarbonize our economy, and accelerate the move towards a zero emission vehicle future."
The Select California Summit was held at the Leland Stanford Mansion in Sacramento, CA and featured 14 business groups including Bay Area Council, California Asian Pacific Chamber of Commerce, City of Sacramento, Fresno Economic Development Corporation, UC Merced, Shasta Economic Development Corporation and a cohort of zero emission vehicle companies. Throughout the day, each pitched their regions, potential projects, locations and investment opportunities to a delegation of 22 Chinese investors looking to California as their priority market.
"As the nation's second largest exporter our state continues to benefit greatly from a robust trade agenda. Select CA helps to drive opportunities for trade and investment with California," added Bawle.
Fan Dai, the Special Advisor to the Governor on China, presented on outcomes from the Governor's trip to China including the establishment of a California-Beijing Clean Tech Innovation Center, which will work hand-in-hand with the GO-Biz Innovation Hub program to promote clean tech innovation and business development.
Moreover, Visit California hosted an authentic Chinese culinary experience and showcased California's unique lifestyle--a key determinant in a business's decision of where to invest.
"Between 2000 and 2016, California secured 415 investment deals valued at $25.5 billion from mainland China investors, much of which went into renewable energy and other sustainability projects," said Jason Law, GO-Biz Special Advisor for Foreign Investment and Affairs. "Attracting inbound international investment is a key driver of California's economic growth and success. 631,500 workers in California are employed as a result of global investment."
The Chinese delegation will travel to Southern California to participate in the second portion of our Select California investment efforts. They will be hosted by our California-China Trade Office Network Partner, the Los Angeles World Trade Center of the Economic Development Corporation, for a series of meetings showcasing additional projects and destinations for new foreign direct investment.
Next week, GO-Biz will lead a state-wide delegation of ten local and regional economic development organizations from across California to the SelectUSA Investment Summit in Washington D.C. The annual summit was originally established by President Obama in 2011 to connect state leaders with foreign investment opportunities. This year's summit features more than 2,500 participants from over 70 international markets. GO-Biz will host a state pavilion to promote individual local assets and highlight the resources and reasons why California is the number one destination for foreign direct investment.
About the Governor's Office of Business and Economic Development (GO-Biz)
GO-Biz serves as California's single point of contact for economic development and job creation efforts. GO-Biz offers a range of services to business owners including: attraction, retention and expansion services, site selection, permit streamlining, clearing of regulatory hurdles, small business assistance, international trade development, assistance with state government, and much more.
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