STORY: U.S. businesses eye more opportunities in China's biz hub Shanghai
SHOOTING TIME: May 23, 2024
DATELINE: May 25, 2024
LENGTH: 00:02:19
LOCATION: NEW YORK, U.S.
CATEGORY: ECONOMY

SHOTLIST:
1. various of promotional event
2. SOUNDBITE 1 (Chinese): GONG ZHENG, Shanghai Mayor
3. SOUNDBITE 2 (English): CRAIG ALLEN, President of the U.S.-China Business Council
4. SOUNDBITE 3 (English): STEPHEN ORLINS, President of the National Committee of U.S.-China Relations
5. SOUNDBITE 4 (English): JOSEPH BRANCATO, Chairman of executive committee of Gensler

STORYLINE:

China's business hub Shanghai held a promotion event here Thursday, which drew great attention and interest from investors in the United States.
   
The event has gathered around 150 attendees, including high-ranking officials, bankers, entrepreneurs from Shanghai, and scores of business leaders of international companies from the United States.
   
Shanghai has been one of the first choices for world businesses to invest in China and build global industry chains, said Shanghai Mayor Gong Zheng in a keynote speech.
   
SOUNDBITE 1 (Chinese): GONG ZHENG, Shanghai Mayor
"Shanghai has been one of the first choices for world businesses to invest in China and build global industry chains. Nearly one third of the top 500 enterprises in the world have regional headquarters in Shanghai as the city has trade ties with 205 countries or regions."

In 2023, over 6,000 new foreign-invested enterprises were established in the city with the amount of foreign direct investment received throughout the year totaling 24.08 billion U.S. dollars. At the end of 2023, the city has attracted over 950 regional headquarters of multinational companies and 550 foreign-funded research and development centers, according to an official bulletin.

Shanghai is speeding up the process of building itself into an international center of economy, finance, trade, shipping, and technological innovation, fostering new productivity boosters, and forging ahead with high-level reform and opening-up, said Gong.

The face-to-face meeting was warmly welcomed and drew positive responses from officials, businessmen, and local people.

SOUNDBITE 2 (English): CRAIG ALLEN, President of the U.S.-China Business Council
"The USCBC has been committed to forging a mutually beneficial U.S.-China relationship through our offices in Washington D.C., Beijing, and Shanghai. And Shanghai is the window through which our companies take the pulse of China.
We welcome Shanghai's commitment to opening up through leveraging pilots within and beyond free trade zones, and to facilitating policy breakthroughs and providing a level playing field for U.S. companies, including our members."

SOUNDBITE 3 (English): STEPHEN ORLINS, President of the National Committee of U.S.-China Relations"We're committed to building bridges between the peoples of our two countries. American investment builds bridges, like no other activity. I'm fond of saying that trade is like dating, but investment is marriage. You've got to work to make it work."

SOUNDBITE 4 (English): JOSEPH BRANCATO, Chairman of executive committee of Gensler"We are optimistic about the Chinese market sectors, including health, education, senior living, and urban regeneration. Our aspirations in Shanghai are to create designs that reflect Chinese culture and values, as well as being an integral part of that community. We look forward to participating in Shanghai's bright future, building on innovation, strengthening our relationships and developing new relationships to bring people together through the power of design."

Several invitees jointly held a launching ceremony at the meeting for Shanghai Summer International Consumption Season 2024, which will run from the first weekend in July to the second weekend in October.

Xinhua News Agency correspondents reporting from New York, U.S.
(XHTV)