March 1, 2004
INFORMATION: John McElwain or John Green, (661) 362-3494 or 3684
Conference to Share Tips on Trading with China
College of the Canyons will present a special conference in April that promises to remove the veil of secrecy surrounding doing business with China, a country with nearly 1.3 billion people and a trillion-dollar economy.
“Exploring Business with China: Risks & Opportunities” is an all-day conference that will be held at the Hyatt Valencia’s Santa Clarita Conference Center on April 21. Industry and trade officials from the U.S. and China will come together to brief participants on many aspects of trade between the two countries, including:
- Securing suppliers of materials and components;
- Advantages and risks in setting up operations;
- Market for U.S. goods, tools and machinery;
- Exporting finished products and agriculture.
As a bonus, participants may attend a reception following the event and speak directly with Chinese government officials involved with trade and investments.
“Every business and industry leader who wants to expand their market in a dramatic way should make it a priority to attend this event,” said Dena Maloney, the college’s dean of economic development. “Although the information to be shared will be extremely valuable, I can’t stress enough the importance of the business contacts and relationships that can be developed through this event.
“It will undoubtedly be one of Southern California’s most exciting business conferences.”
Reservations may be made by calling (661) 259-3874. More information is available on-line at http://www.canyons.edu/offices/cact/china.htm. The conference is sponsored by the college’s Center for Applied Competitive Technologies in conjunction with the Economic Development Division.
With the highest foreign direct investment in the world, the People’s Republic of China is fast becoming a focal point for businesses and industries seeking to expand their markets and bolster their bottom lines. The country’s GDP (gross domestic product) was estimated to be close to $6 trillion in 2002.
While China’s political controls remain tight, economic controls have become more and more relaxed in recent years. The government has gradually introduced market-oriented reforms and decentralized economic decision-making over the past 25 years.
In 1978 China’s leadership began moving the economy from a sluggish, Soviet-style central economy to a more market-oriented system in which the economic influence of non-state organizations and individual citizens has been steadily increasing, according to the U.S. government. The country switched to a system of household and village responsibility in agriculture instead of collectivization, increased the authority of local officials and plant managers in industry, permitted a wide variety of small-scale enterprises in services and light manufacturing, and opened the economy to increased foreign trade and investment.
The result has been a quadrupling of the GDP since 1978. In 2003 China stood as the second-largest economy in the world after the United States, according to the CIA World Fact Book. Agriculture and industry have posted major gains, and the country has benefited from a huge expansion in internet use. Foreign investment remains a strong element in China's remarkable economic growth.
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