Posted at 7:33 PM
The U.S. is open for business and ready to deepen its trade partnership with China, especially in the clean technology industry.
As the world’s largest market for electricity infrastructure development and smart grid technologies, China offers vast opportunities for U.S. businesses with deep expertise in clean and energy efficient technology. China remains a crucial export partner and is our country’s second largest trading partner with U.S. exports to China reaching a record $166.6 billion in 2014.
Leading the first-ever trade “presidential designated” trade mission during the Obama Administration, Secretary of Commerce Penny Pritzker and U.S. Deputy Secretary of Energy Liz Sherwood-Randall, along with a delegation of 24 U.S. businesses, will travel to China to focus on connecting U.S. businesses with opportunities in the green infrastructure and energy efficiency industries. This trade mission is a clear sign of America’s commitment to U.S.-China energy cooperation and broader relationship. It will also help further U.S. – China’s clean energy collaboration and introduce Chinese investors, entrepreneurs and innovators to the U.S.’s clean energy technology market.
Many U.S. companies have been at the forefront of innovating clean technology and provide invaluable partnership opportunities for Chinese businesses and the government. The 24 U.S. companies in the delegation - ranging from Fortune 50 to start-up organizations - represent some of the best-in-class U.S. companies in the clean energy and renewable technologies sectors. They are part of this mission specifically to showcase their technologies and help promote U.S. exports of clean technology products and services. These businesses represent Smart Cities – Smart Growth products and services which include technologies for green buildings, carbon capture, smart grid and waste treatment.
This trade mission represents a major commitment by the Obama Administration to meeting the global challenge of climate change, and underscores the critical role that U.S. businesses have to play in tackling U.S. and China’s shared climate goals. Less than six months ago, in Beijing, President Obama and President Xi of China made a historic joint announcement committing both countries to dramatic reductions in greenhouse gas emissions. As the world’s two largest economies, two largest energy consumers and two largest greenhouse gas emitters, the United States and China have a leading role to play in setting and achieving ambitious targets when it comes to climate. This trade mission is the first step in implementing these goals.
You can follow along on Commerce.gov, Energy.gov, and on Twitter - @PennyPritzker.