World Trade Center Utah (WTC Utah) is leveraging its network and resources to organize three key events for the Zions Bank State of Utah Trade Mission to Hong Kong and South China: a manufacturing site visit, an executive discussion and a site visit to CBRE.
“The goal of these events is to help the Utah delegation make connections and learn what it takes to do business in China and Hong Kong,” said Derek B. Miller, president and CEO of World Trade Center Utah. “Trade missions give companies the knowledge and confidence to take their products and services to regions that may have seemed unfamiliar or impenetrable before.”
The second of the three events, the executive discussion, just concluded in China today. The Utah delegation was addressed by U.S. executives who are members of the Young Presidents’ Organization (YPO). These individuals talked about their experiences expanding into Chinese markets and the importance of managing opportunities and risks. Utah’s own Randy Shumway, president of Cicero Group, also addressed the group.
The executive discussion was hosted by the Guangzhou division of the China Poly Group Corporation. The China Poly Group is a large central state-owned enterprise. Through its subsidiaries, it engages in the businesses of trading, real estate, security, culture and arts, mineral resources and explosives.
All three events WTC Utah organized share a common theme—education through the experiences of others. On Wednesday the delegation will visit CBRE, a global leader in real estate services. The delegation will visit the company’s Asia Pacific headquarters in Hong Kong. The CBRE office in Salt Lake City, Utah helped arrange the site visit.
The site visit to CBRE will focus on the commercial real estate market in Hong Kong and China, which will help companies that are considering purchasing warehouses, building sites or other office facilities in these areas. Hong Kong is the natural entry point for many western markets, so the visit will be particularly beneficial for companies looking to get their feet wet conducting business in Asian locations.
“One of the most important things a trade mission can do is open doors for Utah companies,” said Val Hale, executive director of the Governor’s Office of Economic Development. “The companies can then work from there and make significant contributions to the state’s overall global growth. Events like these celebrate that growth and serve as a catalyst for future economic expansion.”
Proper education is key for Utah companies looking to do business in China, which is why it is one of the main focuses of the trade mission.
The trade mission is led by Zions Bank and supported by World Trade Center Utah, the Governor’s Office of Economic Development, U.S. Commercial Service and Sundance Institute. In attendance on the trade mission are 60 Utah business and community leaders, including Governor Gary R. Herbert.