On June 29, 2017, the China General Chamber of Commerce-Chicago held their annual Gala at the Sheraton Grand Chicago. One of the most important events for U.S.-China business relations, the Gala, under the theme, “New Era – Opportunities & Challenges in U.S.-China Economic Cooperation,” focused on how to help improve trade ties and boost cooperation by promoting U.S. export to China, boosting trade cooperation and attracting Chinese investments into the U.S. Midwest region. World Business Chicago was a partner of the event.

During the event, a Governor-CEO roundtable took place. Below is a recap:

• The economic relationship between the U.S. and China should be mutually beneficial. The cooperation of the two largest economies in the world will benefit local communities, our two nations, and to help advance global economic development.

• The U.S. and China are at a defining juncture—complex but with boundless future economic opportunity. To achieve mutual benefits, we must commit to deeper interaction, respect, and embrace compromise where needed.

• The U.S. and China partnership incorporates understanding, cooperation, pragmatism and intention—to achieve real outcomes for our respective economies and communities.

• The following actions were recommended:
  • Establish an exporting council for U.S. companies to work most effectively with China.
  • Utilize existing communications platforms for open and direct dialogue to address and resolve concerns and issues, such as streamlining onerous regulation, and encouraging integrated work teams between and among Chinese state, provincial, and municipal governments as well as U.S. federal, state, and municipal trade and investment policies to leverage and engage existing business groups such as chambers, industry organizations, and other avenues.
  • Embrace technologies to promote e-commerce between and among small businesses and reduce barriers to entry for countries.