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News Room

Utah Exceeds Expectations on China Trade Mission

September 18 2014 - 9:44 am

News Release
For Immediate Release

September 18, 2014

Contact:
Michael Sullivan, GOED Communications Director
801-538-8811
mgsullivan@utah.gov

Utah Exceeds Expectations on China Trade Mission 
Utah business executives and government leaders find success at major networking event

Salt Lake City, UTAH — Promotional material for Utah flew off the display table at a reception this week in JuWangFu, China, after showing a video featuring Utah’s Mighty Five® national parks and following high level business meetings held during the day with members of the Utah trade mission delegation in the country.

The business meetings held with Chinese business leaders and investor groups during daytime meetings initiated possible new business for delegation members. The private reception at the end of the day was part of Utah’s trade mission to China where business executives and government officials met with even more Chinese representatives from many major Chinese companies to form personal relationships that are key to productive business relations in China. These meetings created a bright future for Utah businesses looking to expand to China and for Chinese companies looking to invest in Utah.

The Utah delegation met with investor groups which included China Renaissance Capital Investment Ltd., Huatai Financial Holdings Ltd., WTOP.com and Haier, the major Chinese appliance manufacturer which already has some operations in South Carolina. Discussions with these groups focused on the possibilities to develop platforms for investment into emerging research and technologies in Utah that could be leveraged in China.

Companies in the Utah delegation that support the direct selling nutraceutical industry such as SupraNaturals, Mineral Resources International and Albion Minerals, all made strong contacts with Chinese companies that facilitate and support that industry. These connections should prove to be effective contacts for business expansion in the future.

Individuals also expressed a specific interest in Utah’s energy sector, and government officials advised these individuals on the regulations and restrictions to foreign investors in U.S. companies and technologies.

China is a rapidly growing market for visitors to the United State and, to capitalize on this trend, the Utah Office of Tourism will be executing a sales mission to China September 19-25 and is actively working with Chinese tour operators and online tour agencies to increase awareness of Utah’s year-round tourist attractions .

Companies who wish to export to China can learn more about doing business in China and other countries at the Utah Global Forum, presented by Governor Gary R. Herbert, September 24 in the Salt Palace, Grand Ballroom. Business leaders who have found success in China will speak to forum attendees, as well as executives from businesses who have found success in the Middle East, Europe and Mexico. Information will also be available on how to get involved in future trade missions. For more information and to register to attend the event, visit utahglobalforum.com.

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Brett Heimburger, director of International Trade and Diplomacy at the Governor’s Office of Economic Development, and Cynthia Chen, the China trade representative, speak at a reception in JuWangFu, China. Heimburger and Chen, along with the Utah delegation, met with various business leaders throughout the reception, building key connections for future expansion of Utah businesses.

 
The Utah trade mission delegation attended a reception in JuWangFu, China this week as part of the Utah trade mission. Government leaders and business executives fostered business relationship growth between Utah and China, enabling increased Utah-China trade.

About the Utah Governor’s Office of Economic Development (GOED)
Web: business.utah.gov

The Governor’s Office of Economic Development (GOED) charter is based on Governor Gary Herbert’s commitment to economic development statewide. Utah’s economic development vision is that Utah will lead the nation as the best performing economy and be recognized as a premier global business destination. The mandate for this office is to provide rich business resources for the creation, growth and recruitment of companies to Utah and to increase tourism and film production in the state. GOED accomplishes this mission through the administration of programs that are based around targeted industries or “economic clusters” that demonstrate the best potential for development. GOED utilizes state resources and private sector contracts to fulfill its mission. For more information please contact:  Michael Sullivan, 801-538-8811 or mgsullivan@utah.gov.