LOS ANGELES, Calif. /California Newswire/ — In remarks today at a U.S./China economic forum, Calif. Governor Edmund G. Brown Jr. announced his intention to form a China-California Joint Task Force to drive more collaboration, investment and trade between California and China.
“I am creating a task force that will work with Chinese states and the central government. Today is really a milestone in our relationship, and I want to make sure California works with provinces in China to break down barriers and increase trade and investment,” said Governor Brown.
The Governor discussed his goals for California’s relationship with China today in a private meeting with His Excellency, Xi Jinping, the Vice President of China. He also outlined plans for the task force in a letter.
The text of the letter is below:
February 15, 2012
His Excellency Xi Jinping
Vice President of the People’s Republic of China
The Embassy of the People’s Republic of China
3505 International Place
Washington, DC 20008
Dear Mr. Vice President:
In anticipation of welcoming you to California on February 16th, I wanted to let you know that I set up a working group to consider how China and California can better collaborate. Specifically, our working group is looking at new and innovative ways to facilitate greater flows of Chinese foreign direct investment into the State of California and ways to increase export opportunities between China and California.
It is my hope that during your trip to Los Angeles you will not only feel warmly welcomed, but also that we together will be able to seize this special opportunity to begin a productive discussion on how to stimulate substantial new trade opportunities and flows of investment from China into California as a way to better relations and create new industries and jobs.
As the recent Asia Society/Kissinger Institute report “An Open Door: Maximizing the Benefits of Chinese Foreign Direct Investment” documented, investment from China into the United States has increased by some 130% over the past two years. While still at relatively small total aggregate amounts, the report estimates that it will increase dramatically over the next decade. It is believed that one to two trillion U.S. dollars will flow out of China over the next decade in search of higher yield investment prospects abroad. With its dynamic and growing economy, California anticipates being a major player in this historic shift in trade and investment patterns.
As Governor, I would like to personally work with you and relevant agencies in China to facilitate the most constructive collaboration possible. While we are, of course, interested in building a more mutually beneficial relationship between the State of California and China, we are also mindful of the important impact that such a constructive partnership with an iconic state like California might have on U.S.-China relations as a whole. We look upon your trip to Los Angeles as a possibility to accomplish both of these important tasks: stronger economic ties between California and China and better relations between China and the U.S.
I would like to propose that we set up a China-California Joint Task Force to assess opportunities for collaboration on trade and foreign direct investment. I look forward to meeting you in Los Angeles and begin a discussion of mutually beneficial opportunities.
Edmund G. Brown Jr.
Governor of California