Top business leaders discuss growth and investment opportunities in both cities.
HOUSTON – Top business leaders from the United States’ fourth largest city visit Beijing and Shanghai this week to meet with Chinese business and political leaders. Discussions will focus on how to increase trade and investment for all cities now that Air China has launched a non-stop flight from Beijing to Houston.
The Houston delegation includes 14 Houston-area companies, ranging from energy and aviation to real estate and international trade and investments. Neil Bush, Co-Chairman of Beijing-based CIIC and son of former president, George H.W. Bush, is part of the delegation. Houston Airport System Executive Director Mario Diaz also joins the group.
“We are excited to establish this new connection between China and Houston,” said Houston Executive Vice Mayor Andy Icken. “Houston is a world-class city with the most diverse population in our country, so we welcome Chinese investors who seek opportunity and business-friendly policies in the U.S.”
A significant player in the international economy, Houston is home to 94 foreign consulates (including China) and the headquarters of 25 Fortune 500 companies. It also has the world’s largest medical center, Texas Medical Center, and is known as the “Energy Capital of the World” because of its large concentration of oil, gas and renewable energy companies.
“Our economy is diverse and robust, and it matches up well with the types of industries that Chinese entrepreneurs and business people are pursuing,” said Greater Houston Partnership President and CEO Bob Harvey. “Houston is a top U.S. city in several industries including energy, medical, transportation and manufacturing.”
Air China‘s new direct flight began on July 11th, 2013 and is expected to increase trade and investment ties between the two cities.
Already, the Houston region is China’s 10th largest trading partner, while China is the Houston region’s fifth largest. Total annual trade between Houston and China grew 8.3 percent, from $11.9 billion in 2011 to $12.9 billion in 2012. There are many companies headquartered in China with subsidiaries in Houston including three of the Fortune 500 Global oil and gas Chinese companies from Beijing: China Petrochemical Corporation (Sinopec), China National Petroleum Corporation (CNPC), China National Offshore Oil.
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