Pic1: Zhang Wei visits the Iowa Ministry of Economic Development

Pic2: Zhang Wei attends the reception banquet in Iowa

Pic3: Zhang Wei meets with Iowa Governor Calf

Pic4: Zhang Wei attends the Chinese Enterprise Economic and Trade Fair in Detroit

April 1, CCPIT VP Zhang Wei and his trade delegation visited the Iowa Ministry of Economic Development. The minister welcomed the delegation, hoping Zhang’s visit could further promote both economies. Then a department head introduced the economic environment in Iowa and replied to inquiries raised by the delegation. After the meeting, the delegation paid a visit to another trade association in Iowa. The delegation listened to briefings on renewable energy, future plans and so on. On the afternoon, the delegation visited a well-known local consulting firm FCSTONE and listened to briefings made by officials on risk management.

In the evening, the delegation attended a banquet co-organized by the China Association in Iowa and Iowa Department of Economic Development. Zhang Wei made a speech on China’s economic development situation and the current problems, and commented on the Sino-US trade imbalance and the RMB exchange rate. Zhang pointed out three factors in Sino-US trade imbalance: First, due to the different structures of the two economies, the United States put restrictions on high-tech imports to China; Second, a large part of China’s trade surplus is in fact transferred from other regions; Third, in terms of data analysis, the value-added exports via Hong Kong are included in the Chinese surplus. In spite of the above-mentioned issues, economic and trade cooperation between China and the United States still have bright prospects. Iowa is advanced in agriculture, renewable energy and other areas. It is hoped that more enterprises of both sides can be engaged in bilateral exchanges and cooperation. Some top officials in Iowa also came to this banquet.

April 2, Zhang Wei, called on the Iowa Governor. The governor welcomed the delegation, hoping to strengthen cooperation with China in agriculture, financial and biological energy. Zhang said that this the second visit after last visit, which showed great interest of Chinese enterprises in cooperation with Iowa. Iowa is in a leading position in environmental protection, financial services, etc. The Iowa side was invited to visit China this May.

Later, the delegation called on the Iowa state legislature and Zhang Wei was honored as the honorary senator. Earlier, the delegation was also invited to visit the Iowa ethanol fuel processing plant and inspected the local renewable energy development.
 
April 2, Zhang Wei attended the Chinese Enterprises Economic and Trade Conference in Detroit, co-sponsored by CCPIT and the Detroit Chamber of Commerce. Zhang made a keynote speech at the meeting. Zhang spoke highly of the Sino-US economic and trade cooperation. And he addresses issues such as the Sino-US trade surplus, appreciation of RMB, as well as intellectual property rights. Zhang also proposed active exchanges, strengthening multilateral cooperation, promoting the development of high-tech trade, expanding cooperation in the field of environmental protection and energy conservation. The two sides were engaged in hot discussions over strengthening bilateral cooperation and extensive exchange. After the meeting, CCPIT Wenzhou Branch and the Detroit Chamber of Commerce signed a bilateral memorandum of cooperation. More than 80 people of both sides attended the meeting.
 
During the visit, the delegation made extensive contacts with the US side including government, parliamentarians, and the business community. The delegation introduced to the United States on issues like the trade imbalances, exchange rate reform and the protection of intellectual property rights. The Chinese delegation was supported by the Chinese Embassy in the United States, the Chinese Consulate General in Chicago, making the visit a great success.