NEW AGREEMENTS TO EXPAND CHINA TRADE OPPORTUNITIES

While the political rhetoric over the United States’ economic relationship with China is heating up ahead of the Presidential election, the Bay Area Council continues to focus on building constructive ties between the two countries that can provide our members, the Bay Area and California greater opportunities for trade and investment. That focus was on full display on Sept. 27 when a first-of-its-kind strategic economic partnership the Bay Area Council forged between the City of Palo Alto and Shanghai’s Yangpu District was formalized at a ceremony with Palo Alto Mayor Yiaway Yeh, Yangpu Vice Mayor Yujian Chen and Bay Area Council President and CEO Jim Wunderman. Mayor Yeh and Vice Mayor Chen signed a memorandum of understanding that provides a framework for bringing Chinese investment to Palo Alto and the surrounding Silicon Valley region through business and development partnerships, education exchanges and other activities. Yangpu is one of China’s hottest and fastest-growing technology and innovation centers and like Palo Alto, with its proximity to Stanford University, is home to some of China’s leading universities and science and research institutes and a growing number of technology start-ups. The Bay Area Council for the past six years has been working closely with Yangpu to grow economic ties between our two regions. Thursday’s event also served as a platform for the Bay Area Council to extend our own memorandum of understanding with Yangpu, where we operate our Shanghai office. To get involved in the Bay Area Council’s China work and other global initiatives, contact Del Christensen.