Assemblymember Phil Ting and Assemblywoman Quirk-Silva Lead Committee on Economic Investment with China
(SACRAMENTO) – Assemblywoman Sharon Quirk-Silva (D – Orange County), Chair of the Assembly Committee on Jobs, joined with Assemblymember Philip Ting (D – San Francisco), Chair of the Assembly Select Committee on Asia/California Trade and Investment Promotion (ACTIP) convened an informational hearing to examine trade and investment activities between California and the People's Republic of China.
“Today's hearing is the 6th in a series of informational hearings being held by the Assembly Jobs Committee to examine the state's economy; including issues surrounding California competitiveness, upward mobility, entrepreneurship, and the future of work,” said Quirk-Silva. “At a time when the current federal administration has repeatedly referred to ‘unfair trade deals’ and strained California’s economic partnership with China, we wanted to take a level-headed approach to discussions on how to foster mutually beneficial trade and investment strategies. California must maintain worker competitiveness and bolster opportunities for Californian businesses.”
During today’s hearing, members of the committees heard from the Office of the Consul General of the People's Republic of China, as well as the Governor's Office of Business and Economic Development (GoBiz). After their presentations, a panel of private sector business, and economic leaders, shared innovative and high impact initiatives their organizations are undertaking to strengthen trade relationships between China and California.
“China is California’s third largest trading partner after Mexico and Canada and purchases more than $16 billion worth of exports. At a time when Washington D.C. is hurting our trading relationships around the world, the state has to reiterate its strong economic and cultural ties with China,” said Assemblyman Phil Ting (D-San Francisco). “As China’s economy and stature grow, California’s relationship with that country will prove to be even more critical.”
The Assembly Select Committee on Asia/California Trade and Investment Promotion is chaired by Assemblymember Philip Ting and is tasked with identifying ways to encourage overseas companies to expand their next projects, investments, and enterprises in California so that the state’s economy can benefit directly from those jobs and investments.
“I am pleased that Chair Ting, and the Select Committee, are able to join us as we discuss the important role policy makers can play in supporting Californian businesses’ access to markets in China, the increasing Chinese foreign investment in California business and infrastructure, and encouraging foreign-owned firms to expand in one or more California communities,” said Chair Quirk-Silva.
The JEDE Committee is the policy committee within the California State Assembly responsible for reviewing policies and legislation related to small business development, international trade, and other economic development related issues. The committee regularly publishes reports on these areas of interest.
More information about the hearing is available at http://ajed.assembly.ca.gov/ including a full list of those testifying, and background on the hearing.
Contact: Nannette Miranda (916) 319-2019