Bay Area Council - Governor Schwarzenegger
Trade Mission to China |
Shanghai and Hangzhou, China | September 8-13
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 We would like invite you on an important trip to Shanghai and Hangzhou, China with Governor Schwarzenegger, September 8-13. The Bay Area Council has opened our “Bay Area Business Landing Pad” in Shanghai. A major goal is to expand California employment by giving Bay Area and California companies the opportunity, guidance and connections needed to sell their products and services in China. The relatively anemic economic turnaround in California and the rest of the United States has made accessing the China market critical to our economic recovery. This initiative has become a very big deal in both Shanghai and California – due to its potential job creation and ability to strengthen the ties between our two countries – and we are very pleased that the Governor will be helping us and the state with the China relationship.
This trip will be a once-in-a-lifetime experience, meeting with the top government and business leadership of Shanghai, Hangzhou and in some cases the whole of China. This is an opportunity for you and your organization to create new relationships or deepen existing ones with some of the most important decision makers in the fastest growing marketplace on the planet, while helping California during a hard economic time.
Part of our trip will have all of us together, but to extend our reach and maximize the benefit to you, we will also split into subgroups to ensure that you can meet with the top leaders, competitors and potential partners specific to your industry and interests. The Governor will also be bringing three Cabinet Secretaries, which will further extend the potential reach of this delegation in China.
We hope you will join us on this historic trip as we open greater opportunities for trade and investment between California and China in the coming Century of the Pacific.
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Industry Snapshots:
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Healthcare:
- Due to several factors, China’s healthcare sector is expected to outpace all other sectors of the economy in terms of growth with a compound annual growth rate of 18% during 2010-2012.
- Driven by need for massive reform, China’s government is spending $120 billion (US) to modernize the industry, plus simplify regulations, enhance trade relations and attract foreign entities.
- Despite government efforts, approximately 90% of China’s rural residents and 60% of urban residents do not have health insurance, and China is actively try to model a new healthcare system on the U.S. system, and therefore puts a premium on U.S. expertise.
- China recently opened its health insurance industry (health insurance, group insurance and pension insurance) to foreign investment and management and allowed foreign companies to hold up to a 70% stake in hospitals and health clinics.
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Finance:
- In 2009, China set a goal for Shanghai to become the world’s financial center by 2020.
- In 2009, about 1.89 billion bank cards were issued in China. Of these cards, 1.74 billion or 92% were debit cards, while the rest, 150.5 million, were credit cards.
- The People’s Bank of China is China’s central bank, which formulates and implements monetary policy, maintains the banking sector’s payment, clearing and settlement systems, and manages official foreign exchange and gold reserves.
- China’s finance industry is dominated by four state-owned commercial banks: the Bank of China, the China Construction Bank, the Industrial and Commercial Bank of China and the Agricultural Bank of China.
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Wine:
- French, Italian and Australian wines receive the greatest recognition in China.
- Total wine imports in 2008 grew 49% to $380 million.
- Average annual wine consumption per person in China is 0.38 liters vs. a world average of 7.
- The US was China’s 4th largest import source of wine by value in 2008.
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Urban Development:
- In the next 10 years, 400 million people will move from rural areas to the cities of China (the U.S. currently has a population of 309 million).
- Housing prices in China increased 25% in 2009.
- There are approximately 50,000 property developers in China, both big and small.
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Greentech:
- China allocated 38 percent of its massive economic stimulus package towards green technology – the U.S. allocated 12 percent.
- In environmental sustainability the United States is ranked 39th and China is ranked 105th out of the top 146 countries.
- Coal accounts for 70 percent of China’s energy supply, compared to the global average of 28 percent.
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