April 2015

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President of California Center Margaret Wong shared her experience about the Presidential Trade Mission on U.S. Department Commerce website: China’s Long-Term Play

 

The following blog was first posted on the U.S. Department Commerce website. The original link is http://www.commerce.gov/news/blog/2015/04/chinas-long-term-play

China’s Long-Term Play

April 20th, 2015 – Guest blog post by Margaret Wong, President and CEO of California Center (Golden California Inc.) and  McWong Environmental Technology

McWong Environmental Technology President & CEO Margaret Wong joins Commerce Secretary Pritzker, Ambassador Baucus, Deputy Energy Secretary Sherwood-Randall and other officials on 24-American company delegation to China

Californai Center and McWong Environmental Technology President & CEO Margaret Wong joins Commerce Secretary Pritzker, Ambassador Baucus, Deputy Energy Secretary Sherwood-Randall and other officials on 24-American company delegation to China

As a participant of a special 24-American company delegation to China, led by U.S. Secretary of Commerce Penny Pritzker and U.S. Department of Energy Deputy Secretary Dr. Elizabeth Sherwood-Randall, I came prepared to share with U.S. and China leaders about the latest in U.S. capabilities and the business opportunities for U.S. environmental and energy efficient technology and services to be utilized in China. In particular those technologies related to clean water, smart cities and the latest wastewater treatment techniques – with a highlight on unique solutions we use to treat specific contents of wastewater, by using mainly membrane and thermal technology in the zero liquid discharge processes. Thanks to U.S. leadership like that of Secretary Pritzker and Deputy Secretary Dr. Sherwood-Randall, there has been a very positive top-down approach to help build public-private partnership allowing businesses like ours to create bottom-up solutions that have been warmly received. Not only have I found a warm welcome by the numerous leaders we have met with along the way, but I have found a common thread that speaks to the larger picture, which is the deep interest to create better and improved methods for smart and sustainable growth in China.

A lot has been made about recent reports indicating a slow-down in China’s economy, noting a reduction from 10 percent annual average GDP gains from 1980 to 2012 to the latest numbers Wednesday, indicating that China’s first-quarter gross domestic product grew 7 percent, the slowest pace since the 2009 global recession. However, very little is being discussed about what I call “China’s long-term play,” to turn China’s economy into a more sustainable one. A recent Bloomberg article also illustrates this point by noting that at the same time that many are noting a reduction in GDP gains, they are failing to point out the “scent of fast money hovering over Shanghai, Shenzhen and Hong Kong, where stock markets are enjoying explosive rallies. The Shanghai Composite Index is up 94 percent over the last 12 months and some $4 trillion has been added to the total market value — now $7.3 trillion — of companies listed on domestic exchanges over the past year.”

The article goes on to point out that the services sector for the first time accounted for more than half, at 51.6 percent, of GDP in the first quarter and that consumption growth was also solid. These factors cannot be ignored. It is clear from our meetings with key government representatives, that China is focused on creating new and innovative solutions to not only sustain economic goals but also to improve living conditions and build more environmentally sound/efficient long-term investments into their cities. The U.S. has a unique opportunity to step up in these areas and assist China in meeting these admirable goals.

However, such investment in creating sound and sustainable growth will not come without some growing pains. My personal experiences and discussions during this trade mission lend credence to the notion that China is committed to the long haul. McWong Environmental Technology will do all it can to create sound clean energy solutions to assist in those efforts, to improve the overall quality of life in China – which in turn has global benefits for us all in terms of economic stability and improved health!

 

Margaret Wong, President of California Center and McWong Environmental Technology, joins for Special Presidential Trade Mission to China – Attends meeting with Chinese Premier Li Keqiang

April 13th, 2015 

Chinese Premier Li Keqiang met with a U.S. presidential trade mission in Beijing on April 13, 2015 , urging stronger cooperation with the United States in clean energy, environmental protection and other areas.

US Commerce Secretary Penny Pritzker (L) and Chinese Premier Li Keqiang ( R)

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The delegation, consisting of 24 U.S. business leaders in the clean technology field, is the first-ever presidential trade mission sent to China by the Obama administration. Margaret Wong , President of California Center and McWong Environmental Technology (MET), an environmental engineering company headquartered in Sacramento with offices in Shanghai and Beijing, joined the mission with the other 23 U.S. business leaders. During the trade mission MET will be sharing with U.S. and China leaders its strong presence in China and the business opportunities for US environmental and energy efficient technology and services in particularly related to clean water, smart cities and the latest waste water treatment technologies that the U.S. can offer. “We are very proud to be the only Sacramento area company(MET) selected to join this group of world-class innovation leaders from the United States, all working for the common cause of decreasing harmful pollutants of water and air creating increased economic opportunity globally,” said Margaret Wong, President and CEO of MET.

Penny Pritzker-U.S Commerce  Secretary (R1); Margaret Wong-President of California Center (R2)

Penny Pritzker-U.S Commerce Secretary (R1); Margaret Wong-President of California Center (R2)

“China is accelerating a new type of ‘people-oriented’ urbanization plan, which offers a huge market for the advanced technology and management experience of the United States,” Li told the delegation led by U.S. Secretary of Commerce Penny Pritzker. Pritzker told Li that the mission shows how important the U.S. government considers its trade ties with China.

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Li urged combining U.S. technology, regulation and experience with competitive Chinese equipment and industries to jointly explore third markets. “This will help boost balanced growth of our two-way trade,” he added. Li said China is willing to enhance strategic trust and substantial cooperation with the United States, properly manage differences and jointly cope with regional and global challenges. Calling trade ties a “ballast” in China-U.S. ties, Li said the two economies are highly compatible, and both countries enjoy huge cooperation prospects in such areas as infrastructure, energy, information and environmental protection.

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Premier Li called on both sides to facilitate negotiations on a bilateral investment treaty (BIT) to reach a “high-level and balanced” agreement at an early date. China’s reform and opening-up policy and its commitment to World Trade Organization regulations will remain unchanged, he said. “China will continue to open wider to the world and will have a more transparent and predictable market,” said the premier. He welcomed companies from various countries to enter the Chinese market and enjoy fair play. Li pledged to treat Chinese and foreign companies equally and better protect intellectual property rights. The Chinese premier called on the U.S. side to ease high-tech exports to China and take effective measures to make Chinese investment in the United States more convenient.

Margaret Wong joined US Presidential Trade Mission

Pritzker told Li the U.S. side is ready to boost cooperation with China in areas such as clean technology, energy conservation and environmental protection. She welcomed U.S.-China joint cooperation in developing third markets, and welcomed more Chinese companies to invest in the United States. The United States will elevate BIT negotiations with China in a constructive manner in an effort to reach a list acceptable to both as soon as possible, Pritzker said.

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Weekly US-China News-Issue: April 14th, 2015

Policy

China Takes Another Step in Improving Rule of Law – Caixin

China Limits Neighbors’ Visits to Hong Kong After Smuggling Complaints – The New York Times

Market

China’s March exports shrink 15 percent year-on-year in shock fall – Reuters 

China Growth Last Quarter Seen Worst Since Global Recession – Bloomberg

Why Luxury Brands’ China Price Cuts Won’t Hurt Overseas Sales? – JingDaily

Trade Groups Try to Stem New Chinese Bank-Tech Rules – The Wall Street Journal

Economists React: China’s Consumer Prices Rise Slightly in March – The Wall Street Journal

KFC Owner Sows Upscale Seeds In Search Of China Rebirth – Forbes

Hank Paulson: Economic challenges, China — and the birds – USA Today

After U.S. chip block, China’s plan for 100 petaflop supercomputer may get delayed – Computerworld

Internet

‘Great Cannon of China’ turns internet users into weapon of cyberwar – The Guardian 

China Threatens Sina Corp. Over Insufficient Censorship – The Wall Street Journal

Ecommerce/Technology

E-Commerce Firms, Investors Take Note as China’s Shoppers Look Overseas – Caixin

29-Year-Old Zhang Lianglun Tailors Online Mall Beibei For China’s Young Mothers – Forbes

Time Still Not Ripe for Apple Pay to Enter China Market – Caixin

China’s Tencent Hits $200 Billion Market Cap for First Time – NDTV

WOWO Becoming China’s First O2O IPO Following Its Successful Initial Public Offering on NASDAQ – iResearch

Banking

China Moves to Strengthen Control Over Its Policy Banks – The Wall Street Journal

China Merchants Bank Soars Most in 6 Years on Incentive Plan – Bloomberg

Ping An Launches Subsidiary to Handle New Form of Net Investing – Caixin

Alibaba Unit to Set up Internet Bank in June – Mobile World Live

Real Estate/Investment

What’s Behind China Life Insurers Buying Up American Real Estate? – Forbes

A $250,000 Tour With One Aim: Get Chinese to Buy a Home – Bloomberg

Chinese Investors Bet on U.S. Apartment Development – National Real Estate Investor

Feng shui finds more fans in US real estate – ChinaDaily

The questions Chinese real estate buyers ask – Overseas Property Professional

The Reasons Why China Buys U.S. Treasury Bonds – Investopedia 

Agriculture

California Wines Fuel $1.49 Billion in U.S. Wine Exports in 2014 – PRNewswire

Hoping to woo China with white wine – The Press Democrat

Positive outlook for the California dried plum industry – Western Farm Press

As U.S. Grown Cranberries Gain Recognition in China, Seeing “Red” is a Good Thing – PRWEB

China Business Insight

 How to Build a Social Brand in China – Thoughtful China (Video)