Eyeing US Midwest, Chinese state-owned firms seek new business amid tense ties
- From agriculture to high-speed trains, stakeholders in a better US-China relationship are being their own ‘ambassadors’ rather than just sitting on the sidelines
Two major state-owned companies in China are scoping out new business opportunities with the US Midwest but have concerns about political relations between the economic powers, according to the chair of a Chinese chamber of commerce.
Cofco Group, a Beijing-based food processor and shipper, wants to engage more with US agriculture but “hopes the geopolitical environment will be easier”, said Ni Pin, chair of the China General Chamber of Commerce chapter in Chicago.
He said the food processor has explored stepping up shipments of food from the US through its international network of ports.
And CRRC Corp, a train-car maker headquartered in Beijing, “would love to expand its footprint” in the US, where it already does work in Chicago and Boston, Ni told the Post. Its American subsidiary, CRRC Sifang Rolling Stock, opened a Chicago base six years ago.
“The USA has been talking about high-speed trains, and we wanted to attract their facility here,” Ni said. However, he said, the firm is wary about existing US congressional bills, though has not said which ones.
A delegation of the 200-member chamber met representatives from both of the state-owned companies in June, during a weeklong trip to China, Ni said.
