Permanent Vice Chairman of CCIEE Meets with the Vice President of General Electric Co.

On the morning of July 2, 2010, Zheng Xinli, Permanent Vice Chairman of CCIEE met with Karan Bhatia, Vice President of General Electric Co. (GE) at the Diaoyutai State Guesthouse. Also at the meeting were Chen Ranfeng, Vice President of GE (China), Niu Tiehang, Senior Research Fellow of CCIEE.

Mr. Zheng introduced the main functions and research works of CCIEE and its past events such as the Global Think Tank Summit and International Cooperative Conference on Green Economy and Climate Change.  

Mr. Bahtia spoke highly of CCIEE’s contribution to the cooperation among global think tanks, and exchanged views with Mr. Zheng regarding globalization, international trading system, trade protectionism and other issues. Mr. Zheng said that globalization has brought benefits to both China and the US, while global financial crisis has brought challenges to globalization. Trade protectionism damages not only the interest of exporting countries, but also importing countries. As large trading countries, China and the US should make joint efforts to promote globalization, reinforce the international trading system as well as advance trade liberalization.

Nonetheless, Mr. Bahtia also expressed concern of the US business community over China’s procurement subsidy policy which was designed to encourage enterprises’ independent innovation. In response, Mr. Zheng said that the US has great advantage in R& D in manufacturing industry and China’s market presents huge market potential. For the US, there are more opportunities than challenges in China. He suggested that GE should strengthen cooperation with large Chinese enterprises in the fields of civil aviation technology and financial investment.

The two sides also exchanged views on issues like transforming China’s economic development mode, boosting domestic consumption, improving social security system, reform of SOEs and so forth.