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.