DC plays role of suitor for potential investors

Max Baucus, US Ambassador to China, makes a keynote speech as Jim Coleman, President and CEO of Prince George's County Economic Development Corporation; and Libby Garvey, chair of the Arlington County Board, look on at a GWCIC reception for the Chinese business delegation in Washington on Sunday. [Photo by Cai Chunying /China Daily]

With more than 150 Chinese delegates set to attend the SelectUSA Summit in Washington this week, there is plenty of opportunity for the US to attract much sought-after Chinese investment.

Max Baucus, US Ambassador to China, was optimistic in his keynote talk about Washington's potential role in the greater scheme of the US-China economic relationship.

"As our countries grow and as we combine in many ways, economically and politically, I think it is very important that SelectUSA is in Washington DC, which symbolizes the strength between our two countries," said Baucus at a reception for more than 100 Chinese delegates at the Phillips Collection in Washington on Sunday.

The reception was held by the Greater Washington China Investment Center (GWCIC).

Bill Black, president of GWCIC, shared a similar sentiment.

"They're the two largest economies, and in some ways mirror images of each other," he said. "We have a tremendous opportunity in Washington for mutual benefit, not to mention the benefits that come in the larger geopolitical realm."

The greater Washington region, in particular, will be playing the role of matchmaker, an often-overlooked region with an abundance of new opportunity.

"When Chinese investors look at the Washington area, they tend to only see a political and government center," said Black. "And when they do that, they may miss some of the real economic opportunities."

At the reception packed with businessmen from real estate to manufacturing, as well as local government officials, Charlie Yao, CEO of Yuhuang Chemical Inc, saw the event as an opportunity to learn from other companies' successes and failures in investing in the US.

"Really I think this is a good platform for us to get to know people and to be known," said Yao. "Continuing to network is important, but talking to people, and picking up the lessons they've learned is also important."