header image

[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Inside
Weather


 
Calendar
Today in
S.C.V. History
April 23
1986 - COC board votes to allow Argentine cliff swallows to nest forever on sides of buildings [story]
swallows


brown041213a[Shanghai, China] – Positioning California to attract a growing share of China’s massive foreign investment pool and bolstering California-China trade, Governor Edmund G. Brown Jr., the Bay Area Council and the Governor’s Office of Business and Economic Development (GO-Biz) opened the California-China Office of Trade and Investment Thursday.

“California is the gateway to the Pacific and this office in China will help businesses large and small expand trade and jobs,” said Governor Brown.

The office opening comes on the third full day of Governor Brown’s trade and investment mission to China. It is the state’s first foreign trade office in a decade.

The California-China Office of Trade and Investment will serve as a hub for California companies interested in entering or expanding in China – the world’s second largest economy – and Chinese companies seeking investment opportunities in California – the world’s ninth largest economy by GDP.

The privately-funded office will be staffed and operated by the Bay Area Council, which has deep roots in China. The Council organized the trade and investment mission’s delegation of approximately 90 business, economic development, investment and policy leaders.

brown041213b“The California-China Office of Trade and Investment ushers in an exciting new era of cooperation and partnership between two of the world’s largest economies,” Jim Wunderman, President and CEO of the Bay Area Council, said. “This office will provide California with a valuable and necessary portal for attracting Chinese investment and expanding trade. Some estimates suggest China’s foreign direct investment may reach $2 trillion by 2020 and this trade office says clearly that California is ready to do business, and that we want a big piece of that pie.”

The office opening was made possible in part by AB 2012, authored by Assembly Speaker John A. Pérez (D-Los Angeles) and signed last October by the Governor. This bill allowed GO-Biz to establish a public-private partnership to create state trade and investment offices. The trade office that opened Thursday is the state’s first since 2003.

“California and China have maintained a robust trade and investment relationship but the potential to expand that connectivity is limitless,” said the Governor’s Senior Jobs Advisor Mike Rossi. “This office will focus on creating business-to-business connections between California and China to ensure that the Golden State takes full advantage of every international business opportunity.”

On the heels of the $1.5 billion China-California investment partnership announced Wednesday, four more deals were announced Thursday by the California-China Office of Trade and Investment, including:

• Beijing-based pharmaceutical company JOINN Scientific is investing $50 million to establish a pharmaceutical production plant in cooperation with Staidson Pharmaceuticals, to be located at the former Bayer manufacturing facility in Richmond, California.

• Hongye International of Wuhai, China is investing $100 million of private equity investment into the Arcadia, California-based firm Singpoli Capital to develop green energy, biochemistry, media, high-technology and real estate construction projects in California.

• Sacramento-based McWong International and Emeryville-based New Logic Research Inc. have secured a $20 million contract with Inner Mongolia-based ChinaCoal Mengda New Energy Chemical Company and China National Coal Group for a zero-liquid-waste discharge project.

• Scripps Institution of Oceanography/UC San Diego (UCSD) signed an agreement with Ningbo University that includes: $50-$100 million of Chinese funding for a Scripps/UCSD research center for development of renewable marine resources and technologies at Ningbo University; the formation of $25 million marine innovation and technology fund for commercialization in China of Scripps/UCSD discoveries; and a program to send top Ningbo students for advanced academic work at Scripps/UCSD.

With Thursday’s office opening, Governor Brown is following through on the commitment he made last year to visit China and open a trade and investment office when then-Vice President, and now President of China, Xi Jinping, visited California.

“I want to thank Governor Brown for his leadership in re-establishing California’s official global trade and investment presence,” said U.S. Senator Dianne Feinstein in a videotaped message from Washington, D.C. “And thank you also to the Bay Area Council and the many businesses and economic development organizations that have made this important public-private partnership possible.”

This week and next, the Governor will meet with Chinese government and business leaders and highlight bilateral trade and investment opportunities at events across China, from Beijing and Shanghai to Nanjing, Guangzhou and Shenzhen.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

0 Comments

You can be the first one to leave a comment.

Leave a Comment


Latest Additions to SCVNews.com
1986 - COC board votes to allow Argentine cliff swallows to nest forever on sides of buildings [story]
swallows
As Volunteer Appreciation Week approaches, the County of Los Angeles Department of Animal Care and Control wishes to extend heartfelt gratitude to all its dedicated volunteers who tirelessly contribute to DACC's mission of advancing the well-being of animals and people in the County.
DACC Pays Recognition to Volunteers
The Canyon Country Farmers Market will be celebrating their two-year anniversary Wednesday, April 24.
April 24: Canyon Country Farmer’s Market Celebrates Two-Year Anniversary
The Henry Mayo Newhall Hospital Auxiliary presented a $35,000 check Monday to the Henry Mayo Newhall Hospital Foundation for the foundation’s Patient Tower Capital Campaign.
Henry Mayo Auxiliary Fulfills $600K Patient Tower Pledge
The Acton/Agua Dulce Arts Council has announced a call for entries for "Creature Feature," a juried art exhibition, with a theme of any living creature.
Entries Needed for ‘Creature Feature’ Art Show
The Acton/Agua Dulce Arts Council has announced a call for entries for a juried exhibit open to all photographers, both professional and amateur.
Acton/Agua Dulce Arts Council Announces Call for Photographers
Recently I had the opportunity, along with spcaLA President Madeline Bernstein and Inland Valley Humane Society & SPCA President Nikole Bresciani, to meet with NBC 4 reporter Kathy Vara to discuss the current challenges facing animal sheltering organizations.
Marcia Mayeda | Current Challenges in Animal Sheltering
As city manager for 12 years now and a longtime resident of Santa Clarita, I am always proud to see how our community continues to grow.
Ken Striplin | Visit Skyline Ranch Park – Santa Clarita’s Newest Amenity
The city of Santa Clarita’s Film Office released the list of six productions currently filming in the Santa Clarita Valley for the week of Monday, April 22 - Sunday, April 28.
Filming in Santa Clarita Includes Six Productions
Henry Mayo Newhall Hospital is recognizing its valued volunteers during National Volunteer Week April 21-27.
Henry Mayo Celebrating National Volunteer Week
The regular meeting of the Saugus Union School District Governing Board will take place Tuesday, April 23, with closed session beginning at 5:30 p.m., followed immediately by public session at 6:30 p.m.
April 23: Saugus Union to Discuss 2023/24 Personnel Report
The Santa Clarita Community College District Board of Trustees will hold a self-evaluation workshop Wednesday, April 24, beginning at 2 p.m.
April 24: COC Board of Trustees’ Self-Evaluation Workshop
A Los Angeles County Sheriff's deputy, who was severely injured in October after an explosion and fire at a Pitchess Detention Center mobile shooting range, died Saturday, LASD announced Sunday.
LASD Deputy Dies Months After Pitchess Shooting Range Explosion
1974 - Gov. Ronald Reagan speaks at dedication of COC's first permanent building, the William G. Bonelli Instructional Resource Center [story]
Ronald Reagan
1994 - Sand Canyon homeowner Eddie Murray sets MLB record for switch-hit home runs in games (11 times) [story]
Eddie Murray
1874 - First train out of L.A. to reach new town of San Fernando; Newhall 2 years later [story]
train tunnel
Hello Auto Group has announced its partnership with the Santa Clarita Veteran Services Collaborative for the second annual Military Spouse Appreciation Event. This event, dedicated to honoring military spouses, will take place on Military Spouse Appreciation Day Friday, May 10, from 10 a.m. to 2 p.m. at the Anthony Vince Nail Spa at 24250 Town Center Drive #140, Valencia, CA 91355.
May 10: Second Annual SCV Military Spouse Appreciation Event
The Santa Clarita Artists Association has announced the 2024 scholarship award recipients. These deserving individuals have shown excellence in their high school art education and shared their plans to continue their artistic endeavors.
SCAA Announces 2024 Scholarship Award Honorees
The Valley Industry Association of Santa Clarita is set to ignite innovation and transformation with its VIA Workforce Development Conference 2024 at the Hyatt Regency Valencia on Thursday, May 16. Jorge Marquez, chairman of the Los Angeles County Workforce Development Board, has been added to the list of speakers appearing at the event. He will serve as the opening speaker at the conference.
May 16: VIA Adds County Leader to Workforce Development Speakers List
The city of Santaw Clarita will host the Free To Be Me Festival for its third year at an exciting new location. On Sunday, May 5, from noon to 3 p.m., celebrate Santa Clarita’s special needs communities and their families at West Creek Park, 24247 Village Circle Drive, Valencia, CA 91354.
May 5: ‘Free to Be Me Festival’ at West Creek Park
The Los Angeles County Department of Economic Opportunity and its regional partners have held the first of several upcoming rapid response events to urgently connect soon-to-be laid off local workers, impacted by the recent bankruptcy and closure of dozens of local 99 Cents Only Stores, to critical workforce services.
L.A. County Offers Help for Workers of 99 Cents Only Stores
Youth in Los Angeles County foster care as young as 13 can open their own checking and savings accounts without an adult co-owner through the Youth Access Banking program.
Foster Youth Access Banking Program Available in L.A. County
SCVNews.com