On the morning of April 1, the US-China Automotive Investment Seminar, jointly organized by the Department of Trade and Investment Promotion of China Council for the Promotion of International Trade (hereinafter referred to as CCPIT) and the Commercial Office of the Embassy of the United States of America in the People’s Republic of China was held in Hangzhou.

This is the first exchange event held among the Chinese and American industrial and commercial communities at a time when Sino-US relations are ushering in a new chapter. Zhang Shenfeng, Vice Chairman of the CCPIT, and James R. Heller, Consul General at the U.S Consulate General in Shanghai, attended the seminar and delivered speeches. Nearly 150 representatives from Ford, UL, Automobility, NIO, Great Wall Motor, BYD, Geely and other Chinese and American auto industry organizations and enterprises participated in the seminar, and discussed topics such as the outlook of the Chinese and American auto markets, the future development of energy application in the auto industry, the future of the auto industry, etc. Representatives in China from six U.S. states including South Carolina, Indiana, North Carolina and California introduced the business environment and relevant projects.

Zhang Shenfeng noted that in today’s world, Sino-US relations are one of the most important bilateral relations. As the world’s top two economies, Sino-US economic and trade cooperation now enjoys a mutually beneficial relationship with a highly complementary structure and deep integration of interests. As the participants, promoters, and beneficiaries of the economic and trade cooperation between the two countries, the industrial and commercial communities are the most involved and the most entitled to talk about the nature of Sino-US economic and trade relations: mutual benefits and win-win results, the extensive common interests, as well as huge potential for cooperation between the two countries. The surveys conducted by the U.S. Chamber of Commerce, the U.S.-China Business Council, and the American Chamber of Commerce in China (AmCham China) indicate that foreign companies in China are bullish on China’s future economic growth and are willing to continue to have their companies base in China while opposing to the economic decoupling of the two countries, which bodes well for the mutually beneficial relationship, growth momentum and promising future of the bilateral economic and trade cooperation. Under the new circumstances, Chinese and American companies will be able to cooperate in more areas with greater potential and more opportunities, and a fair, open, non-discriminatory, stable and predictable business environment is integral to company, investment growth, and the reshaping of confidence. China welcomes companies from all countries, including America, to invest and start businesses in China, while offering a more favorable business environment. Meanwhile, the industrial and commercial communities also look forward to continued and concerted efforts from China and the U.S. to create a favorable atmosphere, more convenience, and a good environment for the practical cooperation between the industrial and commercial communities of the two countries.

Consul General James R. Heller pointed out that, no relationship is more important than that between the United States and China when it comes to global stability and prosperity, which can be maintained through industrial and commercial exchange and cooperation. Moreover, with its dynamic culture of innovation and highly efficient labor resources, the United States is one of the most attractive auto markets worldwide. Companies of all sizes, from start-ups to multinationals, are able to find the ideas, resources and markets they need in the United States to remain globally competitive in the auto industry. The United States welcomes investment from China and hopes that this event can provide information, help the business community make investment decisions as a bridge for US-China economic and trade cooperation.

Xu Haidong, deputy chief engineer and director of the Industrial Research Department of the China Association of Automobile Manufacturers, emphasized that the excellent cooperation between Chinese and American auto companies allows the two sides to leverage their respective advantages for win-win scenarios. The United States boasts a great innovation environment and advantages in core technologies. Chinese companies seek to invest in the United States, participate in its innovative activities, and integrate into its economy. In this connection, the United States has to provide a more stable, fair, reasonable, and transparent policy and business environment, and eliminate the punitive tariffs against China to build and restore confidence for Chinese investors. China also would like to see U.S. auto companies participate in the advancement of China’s auto industry for cooperation that delivers benefits to both sides.

Bill Russo, Chairman of the Automobile Association of AmCham Shanghai and CEO of AutoMobility, mentioned that digital disruption has created a brand new business model for mobility, and China will make great achievements in the field of automatic driving and mobility.

Shen Feng, executive vice president of NIO, shared his view on the development of China’s electric vehicle industry, stressing that smart electric vehicles point to the future of the automotive industry.

Representatives from East West Bank (China) Co., Ltd. and WilmerHale introduced the investment and financing solutions for Chinese auto companies in the United States, as well as the laws and regulations for the investment in renewable energy and electric vehicles in the United States respectively.

Participating companies deemed this seminar a fruitful and rewarding event as it has built a pragmatic platform for the industrial and business communities of the two countries to discuss the prospects of the auto industry, take a look into the future of new energy applications, and promote cooperation that brings mutual benefits and win-win results. The seminar is conducive to closer communication and exchanges between the industrial and business circles of China and the United States, and serves to cement Sino-US economic and trade cooperation as an anchor and facilitator of bilateral ties.

This seminar marks the first event in 2021 of U.S.-China Commercial Match-Making Program (CMP Project) jointly launched by CCPIT and the U.S. Department of Commerce. The CMP project aims to strengthen exchanges and cooperation between Chinese and American companies, increase China’s imports from the United States, and motivate Chinese companies to invest in the United States. Over the past 16 years, 22 local project offices have jointly helped American companies find their Chinese partners for more than 600 times, organized nearly a hundred events, and served over 2,000 Chinese and American companies. The project was well received by the governments and companies of the two countries.