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.