Feature: U.S. businesses encouraged to invest in China at promotional event

LOS ANGELES, Oct. 17 (Xinhua) -- A trade promotional event was held here Wednesday to present China's investment opportunities to U.S. businesses, ahead of the 7th China International Import Expo (CIIE) to be held next month in Shanghai.

Titled "2024 Embrace CIIE, Share Shanghai's Opportunities," the event focused on further leveraging the CIIE as a platform for promoting investment in Shanghai and China as a whole.

"China is a market that no American company should miss," Vlady Cornateanu, founder of the Los Angeles-based Sino-America Business Development Company, told a crowd of over 70 people from U.S. and Chinese investment promotion agencies, enterprises, and business associations, among others.

"From an American perspective, I hope to share my successful business experiences in China and Shanghai with more American business leaders," said Cornateanu, whose company co-organized Wednesday's event with the Shanghai Foreign Investment Development Board.

"I hope they, like me, will maintain confidence in the Chinese market and join me in attending the CIIE in Shanghai and the Canton Fair in Guangzhou," said the trade veteran who has over 30 years of experience doing business with China.

Cornateanu noted that Chinese President Xi Jinping sent a congratulatory message to the annual Gala Dinner of the National Committee on U.S.-China Relations (NCUSCR) on Tuesday, and quoted Xi's remarks in the message as saying that China is willing to work with the United States as partners and friends.

"In such a complex environment, many American companies are uncertain about cooperating with China. However, President Xi's letter has shown us China's positive attitude towards U.S.-China cooperation. This is undoubtedly an encouraging signal for companies like ours," he added.

In her speech, Allison Clark, vice president of Business and International Trade Development at the Los Angeles County Economic Development Corporation (LAEDC), emphasized the vast potential for cooperation between Shanghai and Los Angeles.

She highlighted that LAEDC and the Shanghai Foreign Investment Development Board signed a memorandum of understanding in May, and the two sides are working together to strengthen cooperation in fields such as life sciences and healthcare, clean energy, sports and entertainment, and trade and logistics.

Clark said that some major sports events to be held in Los Angeles, including the 2028 Olympics, the 2026 FIFA World Cup, and the 2027 Super Bowl, would create numerous business opportunities, expressing her welcome for the active participation of Chinese enterprises.