US businesses forge link with China on climate

The emerging consensus in the fields of artificial intelligence and climate change between China and the United States is expected to create more opportunities in sustainable and green development for Chinese American-owned businesses in California.

In a written speech delivered at the APEC CEO Summit on Thursday, Chinese President Xi Jinping said that China is committed to applying the new development philosophy with a focus on achieving innovative, coordinated, green and open development for all, and it is pursuing high-quality development and high value-added and green economic growth.

He also said that China will expedite its efforts to modernize the industrial system, provide better institutional safeguards to enable business entities of all types to share in the gains of development, and foster new drivers of growth and create more room for development.

Dai Fan, the director of California-China Climate Institute, is a supporter of the collaborative efforts between China and the US.

"Climate has been one of the opening windows we see opportunities at the bright side in the industry, for example, (in) renewable development in batteries and solar industry, there are tons of opportunities for business," she said.

Fan noted that Chinese President Xi said that half of the solar panel installed capacity is in China and half of the new energy vehicles are driven in China. She added that California was working toward a similar goal of green and sustainable development.

"It is very exciting how China is doing at a very big scale. I think on the other side across the Pacific, you see California," she said.

Matt Mahan, the mayor of San Jose City, said the city was seeking more business opportunities with Chinese enterprises. This interest aligns with the efforts of major technology companies such as Google and Meta.

The tech giants, renowned for their development in AI technology and based in Silicon Valley, are increasingly focusing on environmental, social, and corporate governance.

"The Chinese community in San Jose is a very important part of our community, and especially (an) important part of our innovation economy," Mahan told China Daily. "We can have incredible economic and cultural exchange, and it can be a win-win for both societies."

Larry Li, managing partner of Amino Capital, has been focusing on environmental and sustainability investment with Asian American start-ups in the US.

Li told China Daily: "Environmental issues are a common concern for humanity and represent a shared goal for China and the US. My view is that cooperation between countries and between companies is similar, embodying both competition and cooperation.

"However, the environment is our common home, and we all breathe the same air. Therefore, I hope that China and the US can strike the right balance between competition and cooperation."

Huican Zhu, Amino Capital's managing partner and the first Senior Chinese Engineer at Google, pioneered the Google AI image search. "For us Chinese Americans, we certainly hope to see closer cooperation between the two sides in the fields of technology and the environment, which would provide us with more opportunities," Zhu said.

"We have always known that China has many strengths in various production technologies. If there is an opportunity to better combine these with some of the American technologies, especially in the field of AI, it would be very beneficial for us."