[Xinhua News] Exclusive Interview: Dr. Winner Xing, President of Worldway, Analyzes the 520 Bridge Project

  Host: Hello everyone, today we are honored to invite Dr. Winner Xing, President of Worldway Group, to share the latest information regarding the 520 Bridge Project. Now, let’s have Dr. Winner Xing greet our online audience.

  Dr. Winner Xing: Hello everyone.
 

  Host: As a leading team in investment immigration, Worldway has launched numerous EB-5 investment immigration projects in the United States, with many successfully approved. Why is the approval of the 520 Bridge Project considered significant?

  Dr. Winner Xing: The 520 Bridge Project is a very special project, marking a milestone in the history of EB-5 in the United States. When we promoted this project three years ago, we stated that it would usher in a new era of investment immigration in the United States. This project is the first in history to obtain family green cards through the purchase of marketable bonds issued by state governments in the United States, which has never been done before. As we all know, the EB-5 visa for investment immigration in the United States, established by the EB-5 Act in 1996, stipulates that a certain amount of investment in specific projects can lead to immigration status for the entire family. This type of investment is active, requiring investment in specific economic entities, and must create ten job opportunities. However, past investments such as deposits or purchasing government bonds were considered passive investments and could not lead to immigration status.
 

  When Worldway launched the opportunity to obtain green cards through purchasing state government bonds nationwide, it sparked significant controversy. However, this project is indeed very secure, and subscriptions were completed nationwide, although the entire approval process took a long three years. When this project was approved, it demonstrated that the U.S. Citizenship and Immigration Services recognized this method of bond investment, as it fundamentally complies with the EB-5 Act, causing a significant stir. In the past, we had many projects approved, with twelve projects last year alone, and no one ever sent us congratulations because approval was considered normal. However, the approval of the 520 Bridge Project has attracted numerous congratulatory messages from the U.S. immigration community and our counterparts in China.
 

  From the development of EB-5 approvals, it can be seen that initially, all investments had to be equity investments, and one had to be a shareholder to obtain a U.S. green card. After 2003, the renowned U.S. attorney Ronald Klasko argued that lending to businesses also complies with the EB-5 Act, and after intense debate, his opinion was adopted. Since then, over 90% of projects have been funded through loans. The significance of the approval of the 520 Bridge Project is that it introduces a form of bond investment, categorizing investment methods in the history of EB-5 into three types: equity investment, debt investment, and bond investment, making its significance extraordinary.
 

  Host: During the waiting period for the approval of the 520 Bridge Project, did Worldway ever feel uncertain? What actions were taken for the investors?

  Dr. Winner Xing: At Worldway, we did not waver during the approval process of this project. We firmly believed that this project would be approved. However, as a Chinese immigration company, we are not the U.S. Citizenship and Immigration Services and do not have the authority to approve or decide. Therefore, until it was approved, we had to be mentally prepared for the possibility of rejection. Thus, we could not claim that a project would be 100% approved; we could only say that we did not see any reasons for rejection. At that time, the U.S. Citizenship and Immigration Services sent a request for additional evidence, summarizing two points: first, that this project was guaranteed by the state government, making it a risk-free project, which does not comply with the EB-5 immigration law; second, that the documents made a commitment regarding I-829, which immigration law does not allow. Regarding the first point about risk, we believe that although the state government provided a guarantee, the state government is the borrower, and providing a guarantee to investors is a normal business practice. The immigration services cannot question this just because the state government provided a guarantee. The state government has an AA+ credit rating, so compared to AAA, there is still some risk, approximately a few ten-thousandths of a percent. The immigration law does not specify the level of risk; as long as there is risk, it complies with the EB-5 Act. Our lawyers prepared 1,000 pages of documentation to demonstrate that this project is indeed risky, which was ultimately accepted by the immigration services. For the second issue, we discussed with our lawyers not to debate with the immigration services but to rewrite the documents, removing any potentially questionable commitment language regarding I-829, and then resubmitted the new documents to the immigration services. The immigration services granted a pre-approval for I-924, and we explained to the investors and resubmitted the documents, obtaining approval in just nine months.
 

  Over the past three years, we have worked with our clients to trust the lawyers and the immigration services. The immigration services' review process is publicly accessible, and the progress can be tracked through the document file number. Here, we would like to express our gratitude to the investors. Although they faced significant confusion, they remained loyal to us over the past three years, weathering the ups and downs together. Therefore, today’s success is also the success of the investors, and I would like to take this opportunity to thank our clients and their families.
 

  Host: Thank you, Dr. Winner Xing. The approval of the 520 Bridge Project can be considered a milestone event in EB-5 immigration. Recently, the Pennsylvania Turnpike project, exclusively represented by Worldway, is another government financing project. Could you please tell us about the advantages of this project?

  Dr. Winner Xing: The important future investment direction is to choose government projects, characterized by government ownership, government investment, government management, government operation, government borrowing, and government repayment. The Pennsylvania Turnpike project is a purely government project, with the investment entity being the Pennsylvania Turnpike Commission, which has an A+ credit rating, borrowing and repaying through the Turnpike Commission. U.S. law is strict; every investment by the U.S. government undergoes scrutiny by Congress and opposition parties, making it the least likely to encounter problems from a business perspective. The Pennsylvania Turnpike project has already received pre-approval from the U.S. Citizenship and Immigration Services, and under this premise, we are promoting it in China. There is no possibility of this project being denied by the U.S. Citizenship and Immigration Services, and choosing such a project is a responsible act towards investors, which is why it has been well received since its launch. On November 8th and 9th, U.S. Congress members and the Chairman of the Pennsylvania Turnpike Commission will personally come to Beijing and Shanghai to explain and promote this project. I believe it will attract more investors' attention.
 

  Host: Thank you, Dr. Winner Xing, for your detailed analysis, and also thank you to the online audience for your support. I hope Dr. Winner Xing's analysis of the 520 Bridge Project will assist investors. If anyone has more questions regarding investment immigration applications, please feel free to call Worldway Group at: 400-138-2929.