The Goldman Sachs Group and China Investment Corporation hosted the US – China Business Summit, convening senior business leaders and government officials from China and the US to discuss opportunities to build and strengthen commercial and investment ties between the two countries. Discussions centered on how increased and reciprocal trade and investment relations between the two countries can help businesses grow, find new markets and create jobs. The Summit was held in Chicago on April 17-18, 2018.
The agenda included sessions with key leaders in business and government, including:
- Henry M. Paulson, Jr., Chairman of the Paulson Institute; Former U.S. Secretary of Treasury,
- Cui Tiankai, Chinese Ambassador the U.S.,
- Yin Yong, Vice Mayor, City of Beijing,
- Penny Pritzker, Former U.S. Secretary of Commerce,
- Matt Bevin, Governor, State of Kentucky,
- Scott Walker, Governor, State of Wisconsin,
- Jiang Zengwei, Chairman of China Council for the Promotion of International Trade and Former China Vice Minister of Commerce, and
- Wang Xinzhe, Chief Economist, China Ministry of Industry and Information Technology.
Over 100 C-suite executives of US and Chinese companies attended, including Aptar’s CEO, Stephan Tanda. The executives represented a cross-section of the economy with a concentration on industrial, manufacturing, consumer, healthcare and services sectors, with the aim of identifying or expanding commercial connections between the US and China.
“The summit served as a powerful reminder about the evolution of the Chinese economy at a breathtaking pace. In 2018, already 400 million middle class consumers are driving retail sales that are surpassing US retail sales in absolute terms. Entrepreneurship, innovation and intense competition are the driving force everywhere. I was also deeply impressed with the intense interest and rapidly increasing investment of Chinese companies in the US heartland. The universal truth is whether it is Chinese companies investing in the US, or US companies investing in China, success requires top local talent, a deep understanding of local consumers and markets, and an ability to leverage your home country strength into new, innovative products that can win. Despite the headlines, Chinese-US business relationships are flourishing more than ever,” said Tanda.