U.S. Investment Immigration focus on U.S. Finance and Economics news: California Governor Jerry Brown began leading a 75-member trade delegation to China on the 8th. "Chinese consumers have hundreds of billions of dollars in savings, and I want to persuade at least some of them to buy California goods or invest in California," Reuters quoted Brown as saying before his departure on the 6th. The local California newspaper, The Sacramento Bee, reported on its front page on the 7th that in 1977, during his first term as governor, Brown visited Japan and made a "side trip" to China, adding that "now, he is willing to devote more time to China." The article stated that each accompanying business leader had to pay a $10,000 "membership fee" to meet with high-level Chinese officials, enter the Chinese market, and attract Chinese capital. During the 7-day trip, Brown and his delegation will visit Beijing, Shanghai, Nanjing, Guangzhou, Shenzhen, and other cities.
The Sacramento Bee reported that preparations for Brown's visit began more than a year ago. In February 2012, Brown worked to ensure that then-Chinese Vice President and current President Xi Jinping included a stop in California during his U.S. visit, and held talks with Chinese leaders. On January 24 of this year, while delivering his State of the State address in the California capital of Sacramento, Brown announced he would lead a trade delegation to China this spring to revitalize California's economy. "China has $400 billion to $500 billion in capital to invest overseas, and I think California can get a piece of that," The Washington Times quoted Brown as saying on the 7th, adding that he would be actively promoting California's wine and technology during his trip to China.
Reuters reported that Brown will announce the reopening of California's trade office in Shanghai, which will be operated by a business organization with an annual investment of $1 million. In the 1990s, California opened trade offices in many countries around the world, including in Beijing, Shanghai, and Hong Kong. Following the bursting of the dot-com bubble at the beginning of this century, California fell into a budget crisis from which it has yet to fully recover. In 2003, then-Governor Davis announced the closure of most overseas trade offices. The Washington Times noted that if it were an independent country, California's economy would rank ninth in the world, and China is California's third-largest trading partner. However, in competing with other U.S. states for the Chinese market, California has found itself lagging behind, as other states have continuously expanded their presence in China. The article quoted U.S. business authorities as saying that California's closure of its trade office in China in 2003 was "penny-wise and pound-foolish," adding, "You can't just say you welcome Chinese investment; you have to send a real message that you are ready." The Sacramento Bee reported that in 2012, trade in goods between California and China reached $14 billion. According to statistics, from 2000 to 2011, California attracted a total of $1.3 billion in Chinese investment, a figure expected to reach $10 billion to $60 billion by 2020.
It is reported that Brown, like former California Governor Arnold Schwarzenegger, has a keen interest in China's high-speed rail. According to the plan, Brown will ride the Beijing-Shanghai high-speed railway, accompanied by officials including California High-Speed Rail Authority Chairman Dan Richard. In an interview, Brown highly praised China's approach to advancing high-speed rail projects and expressed his welcome for Chinese investment in California's infrastructure. However, due to the many legal and environmental issues facing high-speed rail construction in the U.S., there are still many variables regarding whether Chinese high-speed rail can enter California. This month, Republican governors from states such as Iowa, Virginia, and Wisconsin will also visit China to discuss trade cooperation with Chinese provincial governors.
