Highlights: China

Where We Are Now:

• The Virginia Economic Development Partnership has signed a memorandum of understanding with the Investment Promotion Agency of the Ministry of Commerce of the People’s Republic of China with the goal of increasing economic development.
• In the past 10 years, China has jumped from Virginia's 16th largest export destination to its third largest.
• Virginia has insufficient resources devoted to promoting trade and investment with Chinese companies.

Where We Can Be:

• China is ranked as Virginia’s No. 1 export destination.
• Well-staffed offices in China provide useful information on Virginia products and companies, acquisition opportunities, investment incentives, workforce availability, and more.
• Virginia is the No. 1 choice for Chinese companies who are looking to do business in North America.

2008 Initiatives:

• Add Virginia representatives in mainland China that can work closely with business and government leaders to deliver new opportunities for trade and investment.
• Provide Chinese-language marketing materials to promote the Commonwealth of Virginia as a business location.

View the three-page 2007 VITAL task force report on this topic or a compilation of all the 2007 VITAL report task forces recommendations.