In Silicon Valley, SMEs from China's Shandong Province seek opportunities
Representatives of small and medium-sized enterprises (SMEs) from Shandong Province in eastern China are seeking business opportunities in Silicon Valley.
The Chinese entrepreneurs from Shandong SMEs represent major industries in the province, including machinery and electronics, medical processing, food and agricultural products processing, textiles and clothing.
During the 2019 California-Shandong SMEs Business Exchanges and Collaboration Seminar held at Newark city, northern California, Chinese business people met with their American counterparts to help U.S. businesses understand the latest development trends in Shandong Province and explore partnership potential between Shandong and California.
According to the Shandong delegation, the United States was the largest investor in Shandong Province, and the import-export trade volume between the province and the United States stood at 34.5 billion U.S. dollars.
Shandong has 2.69 million SMEs that provide 90 percent new job opportunities for the province and 60 percent of its gross domestic product, according to the Shandong delegation.
In a speech, Marilyn Librers, former mayor of Morgan Hill city at the southern tip of Silicon Valley, hailed the Chinese government for promoting innovation in not only big cities, but also smaller cities and industrial parks with smart and green energy technology for a clean environment.
Librers, who is also president of China Silicon Valley, a non-profit organization dedicated to bolstering closer ties between China and the United States, urged U.S. businesses to invest in China given how the Chinese government is taking steps to make doing business easier for investors and developers.
"I believe now is the time to invest in China, although this is a stressful time right now between our two nations," she said, referring to the current trade frictions that resulted from the U.S. government slapping steep tariffs on hundreds of billions of U.S. dollars on Chinese products.
"We must stay positive and continue to work together ... We must come to a compromise," she said.
Alex Foard, director of global program of the Bay Area Council, a San Francisco-based organization that promotes economic development in the region, said Chinese SMEs can learn expertise from their American peers.
He said the trade frictions between China and the United States has been disruptive and created some barriers for businesses of both countries, but some are still trying to grasp possible opportunities.
"They're betting on the future of a better trade relationship, and they're moving faster," said Foard.
After concluding their tour to the Bay Area, the SME entrepreneurs will visit New York and Connecticut.