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Chinese Deputy Consul General Ren Faqiang Attends the One Belt, One Road, One World Seminar Held by University of San Francisco

On Feb 8, 2017, Deputy Consul General Ren Faqiang attended the “One Belt, One Road, One World: What’s in it for U.S. Businesses?” Seminar held by Univeristy of San Francisco. As one of the panelists, he answered questions from the moderator and audiences. Amb. Charles Freeman Jr., the former Assistant Secretary of Defense and former United States Ambassador to Saudi Arabia, Sergey Petrov, Consul General of the Russian Federation to San Francisco were also present as panelists.

Deputy Consul General Ren (left) answered questions

Amb. Charles Freeman Jr. pointed out during his speech that, OBOR is not only the greatest and transformative infrastructure projects in history, but also the biggest emerging business cooperation platform. U.S. Government and companies should not be absent from it, otherwise decades of huge business opportunites would be missed. Sergey Petrov introduced updated information about Eurasian Economic Union and expressed that good communication is in between Russia and China to seek better cooperation on OBOR.

Deputy Consul General Ren introduced solid outcomes and ongoing projects under “the Belt and Road Initiative” (OBOR) since it was proposed by President Xi Jinping three years ago. Many western companies, including U.S. Companies have participated in it. He said, according to estimation by Justin Yifu Lin, former vice-president of World Bank, every $1 increase in infrastructure investment in developing economies can raise their imports by $0.7, half of which comes from developed countries. Ren recommended U.S. companies in finance, high tech, high-end manufacturing and services industries, such as telecommunication, computing technology, consulting, designing, legal and accounting services, to seek for opportunities under OBOR.

Deputy Consul General Ren (middle), Amb. Charles Freeman Jr. (third from the right) and Sergey Petrov (second from the right) with organizers of USF

Xiaohua Yang, Professor and Director of China Business Studies Initiative of USF hosted the seminar. Father Paul Fitzgerald, S.J., President of USF and over 200 teachers and students attended.

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