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|Governor Quinn Announces Major Trade Partnerships Between Illinois and China|
|News Releases - Business, Economy & Finance|
|Written by Nafia Khan|
|Thursday, 22 September 2011 14:46|
Announces Business and Education Agreements to Further Expand Partnerships, Trade and Investment Between Illinois and China
SHANGHAI, CHINA – September 22, 2011. Continuing his trade mission in China, Governor Pat Quinn today visited Shanghai where he announced major steps to build upon Illinois’ role as a leading competitor in the global marketplace. While in Shanghai the Governor took part in several economic development and education agreements that will help pave the way for continued trade and innovation between Illinois and China.
“I am committed to making sure that Illinois is a top competitor in today’s global marketplace, and our trade and education partnerships with China are a vital part of that.” Governor Quinn said. “The agreements and programs our two regions are announcing today build upon those efforts to expand our economies, while also boosting innovation and growing technologies.”
Among the business agreements Governor Quinn announced today was a $70 million corn products sales agreement between C&D (USA) Inc., an Illinois-based agricultural export company, and Xiamen C&D Inc. Beginning today, C&D (UDA) Inc. will sell 250,000 metric tons of Illinois corn products to China-based Xiamen C&D, Inc. for $70 million.
C&D USA is a subsidiary of Xiamen C&D. This export agreement will further Governor Quinn’s aggressive goal of doubling Illinois exports by 2014. China is Illinois’ third largest export destination, and is among the top five states exporting agricultural products to China. In 2011, Illinois ethanol plants sold 200,000 metric tons of corn products to C&D USA for approximately $45 million. C&D USA plans to purchase 250,000 metric tons of corn products from Illinois ethanol plants in 2012 for an estimated $56 million.
Governor Quinn participated in the signing of agreements to further strengthen the business, educational and cultural relationship between Illinois and China. The agreements include a sister river agreement between the state of Illinois and the Shanghai Water Association. Under the agreement, the association and the state will work together to share policies and innovative ideas to preserve the Illinois and Huangpu Rivers.
The Governor also participated in the signing of a sister city agreement between Morton, Ill. and Tiantai County in Zhejiang Province, which will provide opportunities to promote economic development, trade, education, science and technology, and cultural exchange and tourism between the two cities. Tianti-based Zhejiang Yinlun Machinery Co, previously selected Morton as the location of its first U.S. headquarters.
An additional agreement signed today between Zhejiang Province and Illinois was the 1,000 School Initiative to enhance educational opportunities between the two regions. Under this sister schools’ agreement, the state of Illinois and Zhejiang Province will work together to make sure that students from both areas receive quality educations. The agreement will allow Illinois and Zhejiang Province to partner in training school staff, hosting summer and winter camps for students, and teaching elementary and secondary education students about the history, culture and languages of both parties.
As an economic and business center of China, Shanghai is known for attracting investment from many overseas companies. Its open policy has made it a magnet for foreign investors. Places like ”The Bund” and ”Pudong,” which have evolved rapidly in past few years in Shanghai, have increased the city’s role in
international finance, banking and trade. Shanghai has a strong base in manufacturing and technology. With many technology parks and industrial districts, Shanghai is also the leading industrial base of China.
For updates on Governor Quinn’s trip, visit www.Illinois.gov or follow him on Twitter at @GovernorQuinn. More information about Illinois trade and business opportunities can be found on the Illinois Department of Commerce and Economic Opportunity’s website at www.illinoisbiz.biz.
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