Chinese Ambassador to the U.S. Qin Gang answered how U.S. companies can do business in China

“Be optimistic and do some homework,” Chinese Ambassador to the U.S. Qin Gang answered how U.S. companies should do business in China, at the Global Economic Summit in Indiana.

Qin said the impacts of the global pandemic are temporary, but China’s strong market demand remains unchanged. He encouraged U.S. entrepreneurs to look at China’s development plans to find new opportunities in Chinese priority industries.

“Do some homework. They are open and transparent. They are on the Chinese government’s websites and social media. Find out how you can fit yourself in the development of the future of China.” Ambassador Qin said.

He said Indiana is strong in industries such as agriculture, pharmaceutical products and engines, all of which are what China has strong market demands in.

For agriculture, there is a demand to diversify people’s food sources by importing more from other countries as China has recently eliminated extreme poverty, Qin said.

For medical products, personal health is a priority industry for millions of Chinese middle class to live longer and healthier, which demands more health products, Qin explained. He said China is simplifying procedures for foreign pharmaceutical companies.

For engines, Qin said China is producing half of the world’s new energy cars, which needs more engines which are green and with less emissions.

“Companies in the U.S. can just look at China’s blueprint” and find areas where they can invest and profit, Qin said.

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