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"China has done remarkably well," said Wei Sun Christianson, chief executive of Morgan Stanley China and co-chief executive of Morgan Stanley Asia Pacific, at the Fortune China Most Powerful Women summit in Shanghai on Dec 10.
"California is just so close to China; I think this might be the major reason why Chinese investors prefer California," Guo Ruda, commercial attaché of the Chinese Consulate General in Los Angeles, said at the hearing.
"By 2030, they think it's going to be a 150-billion-dollar market in China. They think it's going to reframe the basis of competition worldwide and add a trillion dollars to China's GDP."
"China has already started the approval process for the RCEP agreement, and plans to conclude all the preparatory work and get the green light at home in six months," said Yang Zhengwei, deputy director-general of the Ministry of Commerce's Department of International Trade and Economic Affairs.
"But we anticipate the situation will continue for months before sales will rebound in July or August."
