Hopes pinned on key summit to drive growth of overseas enterprises in China
Members of the American Chamber of Commerce in Shanghai are looking forward to the China-U.S. summit and the APEC Economic Leaders' Meeting because a stable and healthy relationship between the two nations is extremely important for the development of enterprises, especially U.S. companies in China.
"We can develop well in China in the long term only if the two countries have a relatively stable relationship," said Eric Zheng, president of the trade body.
The APEC Economic Leaders' Week has commenced in San Francisco in the United States and runs through Friday.
Zheng said that despite challenges, U.S. companies see China as a very important and strategic market — a market to which they hope to continue having access and in which they want to succeed in the long term. "We are in China for China, and we are not going away."
China remains the world's second-largest economy as the country's GDP surpassed 121 trillion yuan ($17 trillion) in 2022.
Given the colossal size of the Chinese market, even 5 percent growth can re-create another Switzerland in terms of GDP, Zheng said.
"For us, a 121-trillion yuan economy is a huge market that nobody else can replace," he said.
The CIIE offers a great platform for U.S. companies to reach agreements, and more than 200 U.S. enterprises showcased their products at the expo this year, he told China Daily during an interview on the sidelines of the event.
For the first time, the U.S. Department of Agriculture and the American Chamber of Commerce in Shanghai jointly set up the U.S. food and agriculture pavilion at the world's first import-themed national exhibition.
A total of 17 exhibitors showcased their products at the pavilion, including meat, almond, cheese and wine as well as health supplements.
During his visits to U.S. corporations attending the CIIE, Zheng said he received positive feedback and the companies recognized the event as a great platform to showcase their products in the China market.
The American Chamber of Commerce in Shanghai was very pleased to see the active participation of U.S. companies in the CIIE this year, Zheng said.
He added that the trade body will plan details of its participation in the expo next year. "Our ultimate goal is to assist U.S. companies, especially those enterprises that have huge interest in the China market but are not able to come here and take part in the China market."