Attracting Foreign Direct Investment From China
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In today’s increasingly international economic environment, it is more important than ever to place Rockford on the table in front of large international corporations and investors. Doing so early ensures that the Rockford Area is included when companies begin planning for their global expansion, and does not miss out on opportunities for quality job growth and economic development.
China's Preparedeness for Investment in the United States China will have the largest economy on the planet in 2050. There are over $1.3 Trillion currently locked up in the Chinese economy that the Chinese government is encouraging its people and companies to place back into the United States. China continues to grow in international prominence. Its businesses continue to go global by investing in foreign countries and buying more goods and services from countries like the US. Rockford's infrastructure, manufacturing strength, and proximity to Chicago make it a natural trading partner and investment location for Chinese companies. Presently three of China's largest companies have operations in Rockford. They are Wanxiang, Dalian Machine Tool Group and Shanghai Automotive Industry Corporation.
The RAEDC implements the following strategies to attract investment from China: Growing Relationships with our Sister City, Changzhou In 1999, Rockford began its sister city relationship with the city of Changzhou, China. Since then, the City of Rockford and the RAEDC have been leveraging this relationship and others within the Chinese business community to develop strong economic ties with China. This has led to many opportunities for the Rockford area business community to explore new exporting opportunities and positions the Rockford area as a recipient of Chinese foreign direct investment.
Hosting Chinese Business Delegaions In 2009, the RAEDC hosted 4 delegations from China:
Familiarization Tours The RAEDC conducted several familiarization tours introducing Chicago’s Chinese trade officers to development opportunities in the Rockford area. These long-term relationships are very important when Chinese companies start looking to enter the U.S. market. Familiarization tours are also given to Chinese companies touring the United States for evaluating investment opportunities. In 2009, familiarization tours were given to 6 Chinese companies.
China Impact Missions In September 2008 and 2009, the RAEDC visited China to market the Rockford Region and solicit Foreign Direct Investment. Over the course of the 16 day tour, meetings were held with over 40 contacts, companies, and government officials. The trip served to establish and strengthen relationships with companies headquartered in China. The trip also laid the foundation for designation of the Chicago Rockford International Airport (RFD) as a potential hub for Chinese air cargo airlines.
Maintaining Regular Communication with Chinese Contacts about Investment Opportunities In order to maintain established relationships with Chinese companies and government officials, the RAEDC has developed Global Relations, a newsletter for our Chinese contacts updating them on development opportunities and successes of our region. Sign Up to Receive Global Relations E-Newsletter
Fostering Partnerships Between Local and Chinese Higher Education Rockford College actively partners with Chinese Universities in student exchanges. An increasing number of Chinese students are coming to the Rockford Area to study. Read more about Rockford College's Chinese partnerships
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