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2005 US-China Entrepreneurs Summit

2005 US-China Entrepreneur Summit, which was jointly organized by US-China Exchange Association (USCEA), City University of New York, US Department of Commerce, US Small Business Administration, US National Association of Export Companies and many other organizations, was held in New York City on December 12, 2005. It is the 5th Annual Conference of USCEA that was held in Greater New York Area since 2001.

2005 US-China Entrepreneur Summit consists of two sessions: Seminar on US Financial Market, and an one-on-one meeting for US and Chinese companies. The seminar was held in the College of Staten Island of City University of New York (CSI/CUNY) in the morning of December 12, 2005. Dr. George Wang, President of USCEA and Finance Professor of CUNY, hosted the event. Adam Friedman, President of Adam Friedman Associates, a well-known investor relation company, Amy McQuade, Vice President of American Stock Exchange, John Amodio, Vice President of Commercial Bank, and Margaret Jones, Marketing Director of Investor Business Group, a Wall Street investment firm participated in the seminar as the key note speakers. They introduced the audiences the US financial markets and the possible ways that the Chinese companies can get financed from US capital market. Their speeches attracted more than 150 attendees including representatives from local US companies, and faculty and students from CSI/CUNY.

The one-on-one meeting was held in the Princeton Club of Manhattan in the afternoon of December 12, 2005. Bill Spitler, Director of US Department of Commerce New York Office, Herbert Austin, Deputy Director of US Small Business Administration New York District, Dick Truitt, Vice President of CUNY/CSI, Barney Lehrer, President of the National Association of Export Companies, Frank Carcia, Vice President of Global Business Roundtable, Myles Matthews, a member of New York District Export Council of US Department of Commerce and the President of Global Trade & Technology Center, and leaders of many other business organizations, along with over 200 executives of US companies from Greater New York Area attended this conference.

About 30 Chinese entrepreneurs from various geographic areas of China participated in this summit. They represented wide range of industries such as textile, shoes, machinery, electronics, electrical equipment, water treatment, food, medicine, Auto parts, education, trade, finance and real estate. During this conference, more than 30 letters of intent on cooperation (LOI), which hold business potential worth over USD $70 million, were signed.

During the event, the preliminary agenda for 2006 US-China Business Matchmaking Conference was also announced. The 2006 event is tentatively scheduled to take place in Shanghai, Chengdu, Huhehaote and Beijing from May 22 to 29, 2006. Similar to the previous years, About 50 to 80 US company executives are expected to participate in this annual conference that is co-organized by USCEA, US Department of Commerce, and Chinese local government. On December 13, the Chinese business delegation was arranged to visit the New York Stock Exchange. The Chinese entrepreneurs were taken to the trading floor to watch, on spot, the operations of the largest US Stock Exchange. In addition, the delegation also visited a Wall Street investment firm, Investor Business Group where they had face-to-face communications with the Wall Street investors regarding financing issues in the US capital market for the Chinese companies.

After the Summit, the Chinese business delegation also visited Philadelphia, Washington, DC and Los Angeles. In Washington, DC and L.A., Alain deSarran, Deputy Director of the East Asia and Pacific Office of US Department of Commerce, and Michael Antonovich, the Senior Administrative Officer in Los Angeles met with the Chinese business delegation, respectively.