Posted by: Carly Schroer
Events part of ten-day economic development trip to Asia
SHANGHAI, CHINA — Tennessee Gov. Bill Haslam and Economic and Community Development Commissioner Randy Boyd today attended meetings in Shanghai, China including a visit with Shanghai Mayor Xiong Yang as part of an economic development trip to Asia focused on increasing foreign direct investment opportunities in Tennessee.
During the meeting, Gov. Haslam and Mayor Yang discussed the business climates of Shanghai and Tennessee, growing partnerships, and the similarities and differences between the two locations.
“Tennessee and Shanghai share mutual strengths in advanced manufacturing, health care, aerospace and agriculture,” Haslam said. “We are building and enhancing the partnership between our governments to help Tennessee successfully grow in each of these sectors. I look forward to promoting job creation and economic development through this collaboration as we continue our work to make Tennessee the No. 1 location in the Southeast for high quality jobs.”
During the trip to Shanghai, TNECD and the Shanghai Department of Commerce hosted an investment seminar, which was attended by more than 20 Chinese companies. Gov. Haslam discussed the advantages of doing business in Tennessee to an audience of high-level leadership executives who either have existing operations in Tennessee or are considering establishing operations in the state.
“Tennessee is home to over 20 China-based establishments employing more than 2,000 Tennesseans, and through our interactions with the companies here today, we hope to build upon that number,” Boyd said. “The partnerships we have created while on this trip present a promising future for Team Tennessee, and I’m eager to see this progress in the time ahead.”
Also while in Shanghai, Gov. Haslam and Commissioner Boyd attended the Shanghai Automotive Industry Corporation (SAIC) dinner. President of SAIC Motor Chen Zhixin and Chen Hong, chairman of SAIC Motor, were also in attendance.
SAIC Motor Corporation Limited (informally SAIC, formerly Shanghai Automotive Industry Corporation) is a Chinese state-owned automotive design and manufacturing company headquartered in Shanghai, China with multinational operations. SAIC also has multiple production facilities in China, and branches in the US, Europe, Japan and Korea.
Shanghai is the largest city in China by population with more than 24 million residents. An important economic, financial, trade and shipping center in China, Shanghai’s gross domestic product (GDP) exceeded 2.35 trillion yuan ($384 billion) in 2014.
In addition to its financial industry, Shanghai is known for making advancements in several notable sectors including computer information, logistics, chemicals, electronics, textiles, health care, equipment manufacturing, automotive and steel technologies.
TNECD will continue to provide updates throughout the trip on Facebook at facebook.com/tnecd and Twitter at @tnecd.
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Team Tennessee, the department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Tennessee is the only three-time winner of “State of the Year” for economic development by Business Facilities magazine. Find us on the web: tnecd.com. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.