June 08, 2023
Kevin Xu Attended the 2023 China-California Economic and Trade Forum
The 2023 China-California Economic and Trade Forum (hereinafter referred to as the "Forum") was held in Los Angeles on May 22. This forum is the first forum held after the Covid-19, and the Chinese delegation, composed of over 150 top business leaders and trade officials from seven provinces, attended the forum. Jiangsu Province was the guest province for this year. Consul General Guo Shaochun, Consulate General of the People's Republic of China in Los Angeles (Ambassador-level), Jim Wunderman, Chairman and CEO of the Bay Area Council, Liu Chun, Vice President of China Chamber of Commerce for Import and Export of Machinery and Electronic Products, Emily Desai, Deputy Director of International Affairs and Trade at GO-Biz, Brian Peck, Chairman of the Los Angeles Regional Export Council (LARExC), Fang Wei, Vice Governor of Jiangsu Province, and Eleni Kounalakis, Lieutenant Governor of California, attended the forum. Kevin Xu, Chairman of Board of Directors of MEBO Group, Executive Director of the Bay Area Council, and Co-Chair of the International Committee, was invited to attend the forum and delivered speech.
After the outbreak of the Covid-19, how to withstand the impact and adjust the development path has become an important topic for regional economic development. In this forum, Kevin Xu used California's "Biotech Valley" as an example to express his views on how to build a more resilient regional economy from the perspective of biopharmaceutical development. In the sub-forum on bilateral direct investment opportunities, Xu stated, "From the perspective of biopharmaceutical development, regional economic resilience is crucial and can be considered as an inherent characteristic of a region. It is a key attribute for long-term and sustained improvement of the economic system. Local resource integration, circular economic circulation, and upstream and downstream linkages are effective ways to ensure regional ecological and economic resilience, especially in the face of various unexpected events. These factors can bring more opportunities and development potential."
Resilience refers to the ability of a system to maintain stability and recover its original state after being subjected to external shocks. In recent years, the concept of resilience has received significant attention in the field of economics. The biopharmaceutical industry provides a good example of how to enhance resilience, as demonstrated by California's Biotech Valley. A well-designed regional industrial structure can effectively diversify risks, allowing such regions to exhibit better resilience when facing shocks. Xu proposed the concept of the Biotech Valley in California in 2016 and collaborated with the U.S. Department of Commerce, the California state government, the Los Angeles County government, and the Los Angeles city government to create the first life science incubator on the West Coast. This ecosystem connects surrounding research institutions, hospitals, and biopharmaceutical companies, forming a self-sufficient "industry, academia, research, and application" ecosystem where resources can be allocated efficiently to yield optimal outcomes. This life science economic corridor, like a railway, links all the biological science economies and institutions from east to west, making the regional economic belt more resilient.
During the forum, participating delegates and industry experts also held discussions on topics such as cross-border e-commerce, cooperation on innovation, bilateral investment, and how to seize cooperation opportunities between China and California.
The China-California Economic and Trade Forum is an annual trade promotion event. It aims to promote and highlight trade and investment cooperation between California and provinces in China, encouraging business leaders from California and China to explore and develop business opportunities. During the past four years, it has attracted 1,600 participants from California and China.
California is an important participant and beneficiary of the China-U.S. economic and trade relationship. It maintains close and deep cooperation with China in areas such as trade, investment, tourism, and education, achieving significant results. The forum was hosted by the Consulate General of the People's Republic of China in Los Angeles, co-organized by the China Chamber of Commerce for Import and Export of Machinery and Electronic Products and the Bay Area Council in California.