Beijing, August 30, 2010: As Chinese companies seek growth opportunities in the United States of America, they often face multiple challenges - imposed by cultural and linguistic barriers - to finding the most effective way of establishing and growing their businesses.

Even though “all roads lead to Rome,” some are easier than others. To help Chinese companies cut down the learning curve in a new market and achieve their business goals more quickly, China Center New York LLC, in collaboration with New York City Economic Development Corporation (NYCEDC), Deloitte, and other professional service providers that are focused on China market, today launched “ZHIDAO USA” (The Smart Way into USA).

“ZHIDAO USA” is a series of programs designed to equip Chinese business leaders with the necessary knowledge and resources to expand their businesses in America. The program is focused on global development strategies that will provide the business leaders with sensible and sustainable approaches to doing business in the Unites States, and New York City, in particular.

ZHIDAO series include a number of custom-made programs of real-time business transaction simulations, lab experience, and close-up tours of the current investment environment.

Xue Ya, president of China Center, said: “while it is true that there are many ways to open up market in the United States, unfortunately, many companies spend too much money and time on unnecessary steps, making their investment journey much longer and more painful than it needs to be. ZHIDAO USA will help Chinese companies get onto the express lane.”

Chairman of China Center Mr. Fenglun, speaking from his own investment experience in New York advised his fellow Chinese entrepreneurs that ZHIDAO USA can be a very useful tool for their overseas expansion. Out of the ZHIDAO USA series, the China to NYC program, sponsored by New York City’s Economic Development Corporation, and the China-US Transaction Lab created in collaboration with Deloitte’s Chinese Service Group, are the most hand-on and direct programs established to assist Chinese entrepreneurs with their US expansions.

• China to NYC: Part of NYCEDC’s World to NYC initiative, China to NYC promotes trade and investment between New York and select cities throughout China by hosting business delegations of China-based companies and helping them to expand to New York City. China Center has partnered with NYCEDC to bring Chinese companies to New York City to explore the rich business resources available in the city.

World to NYC aims to increase New York City’s connections to the global economy by hosting business delegations of companies with high-potential to locate in New York City from cities and regions around the world. The week-long program will ensure that the selected companies acquire the knowledge and connections necessary to enter the competitive New York City market.

The inaugural China to NYC visit in December 2010 will coincide with the inaugural NYCEO Conference that will bring together CEOs from many of the City’s most prominent industries, including: fashion, green technology, financial services, bioscience, and media and technology.

Over five days, NYCEDC will host a full program of events specifically designed to create new business opportunities through direct interaction with New York City’s business community, including leaders from the media and technology, fashion, green technology, bioscience, and financial services industries. Program events will include business receptions, business district tours, workshops, networking, and targeted meetings based on the needs of each delegate. Three China to NYC tours will be held, beginning with the first, in December 2010.

The tours target Chinese businesses that
• have passed the start-up phase,
• are considering setting up offices in the U.S. within 6 to 18 months of NYC visit,
• are in the preferred industries including financial services, media & technology, green & emerging technology, bioscience, fashion, real estate.

“Reducing the barriers to entry for international businesses looking to locate in New York City is critical to maintaining our role as a global leader for the 21st Century,” said NYCEDC President Seth W. Pinsky. “China to NYC provides an important forum for Chinese businesses to interact with key stakeholders and learn how to position themselves in the New York City market.”

• China-US Transaction Lab: This cross-border M&A simulation exercise for Chinese CEOs is designed to heighten CEOs’ awareness of the increased level of complexity of cross-border transactions and elevate their ability to successfully execute a transaction in the U.S.  Designed by Deloitte’s Chinese Services Group and transaction specialists, the China-U.S. Transaction Lab focuses on the importance of a structured M&A process - including putting the right team in place to execute the deal, asking the right questions, assessing the risks, setting priorities and making the key strategic & tactical decisions required to prepare for a more culturally-informed negotiation; as well as learning how to take advantage of U.S. stereotypes of Chinese negotiators. 

The 8-hour intensive lab experience takes participants through critical steps in forming an initial offer (Letter of Intent) with live negotiation exercises, and tools that can help CEOs make successful deals in the U.S. 
 
Clarence Kwan, head of Deloitte’s Chinese Service Group and the firm’s national managing partner said: “It is a great momentum for Chinese companies coming to the US market for mergers and acquisitions, and their interest seems to be very strong.” However, there are also strong indications that there is a lack of confidence on the part of Chinese companies to cash in on deals. “There are many bumps on the road to M&As;, it is essential for Chinese CEOs to have mastery of technical and strategic skills to make their deals successful,” said Kwan who has 32 years of advisory experience in M&As;.

Starting from September 2010, there will be 9 sessions of China-US Transaction Lab in New York and in other cities in China.

The China Center is the only company focused on serving as a “gateway of choice” for Chinese companies entering the U.S., as well as American businesses seeking new market opportunities in China. It provides elite, exclusive and exchange programs for a seamless multinational overseas expansion process.

China Center is the only company equipped to provide state-of-the-art facilities and unparallel “soft power” services. By facilitating business exchanges on both sides, China Center seeks to support and advance a positive relationship between China and the United States. It aims to be an unequivocal center of Chinese corporate and cultural life in New York City.

ZHIDAO USA partners include China Entrepreneurs Forum, and Fortune Character as leading media partner, TripTM Global Theme Travel Club as the exclusive travel service partner.

Contact: Grace Jiang: 86.1350.163.6025
gracejiangwenyi@chinacenter.com

For more information, please visit: www.chinacenter.com