Elite Talk: A 'Chinese dream' from an US Governor

The Elite Talk program by Li Zhenyu from People's Daily Online Business Channel US Gov. Rick Snyder visited China this Sep. in an effort to realize his "Chinese dream".

Host: Everybody has his own dreams, but this one is a little different.

Snyder: If you look at that both from a people point and a dollar investment point, there's a huge opportunity for the Chinese to look to Michigan.

Host: That's Rick Snyder, Governor of Michigan. The Republican Governor of the United States has a special dream, a "Chinese dream".

Snyder: We hope to really establish a good partnership relationship with China. We want to be known as one of the open places for business that encourage international trade and immigrants to come, and an exciting place. And we want to get the message out that Michigan is open for business, because we've gone through very difficult times.

Host: In July this year, Detroit, Michigan's largest city and the cradle of the automotive industry filed the largest municipal bankruptcy in US history.

So Snyder's "Chinese dream" is to attract Chinese enterprises to invest in the US State of Michigan, especially the city of Detroit, and establish a stronger business ties with the world's second-largest economy. Snyder: It's important to renew that good relationship, because the future is about global business, and about creating positive relationships and understanding that brining in cultures together is actually a great power for the future. The successful businesses of the future will be those that seize opportunities in growing economies such as China.

Host: So, have you found enough business opportunities here?

Snyder: Yes. There are lots. The good part is that the automotive industry and the agricultural area are two areas that have really been highlighted, but almost any area, that there's common ground to do business. It's very exciting. And I think there's good opportunity to tie in our research universities and our technology. They really grow together. And there're also many market opportunities in China, the sales in China, the export and the new business here. We are very excited about the opportunity.

Host: Besides establishing a good partnership relationship with China, Snyder's biggest "Chinese dream" is to attract Chinese investment. In fact, some Chinese investors have already started buying property in Detroit due to the low prices, to which Snyder said "that would be quite helpful."

Snyder: Detroit is the value place in the United States, in Michigan, and potentially the world in terms of a great value opportunity to say, come and invest now, because there's going to be great up-side.

Host: Some Chinese investors have seemed receptive to the idea that there are opportunities in Detroit, whether it's for individuals investing in low-price real estate or for businesses considering the area to expand into the North American market.

Snyder: We think we have great values now in Michigan and we are creating a very competitive environment for enterprises to succeed and do well. We've redone our tax system, our regulatory system; we've just balanced our budget. So we're doing many things to be very business-friendly.

Host: Statistics show that Chinese direct investment to Michigan reached the $1 billion mark in 2012, making the area one of the top 10 US states receiving direct investment from China.

When asked how the Chinese investment can specifically help Michigan, Snyder answered definitely:

Snyder: They can do a lot. I think there's a huge investment opportunity in terms of large-scale investment. One of the other things I'm working on I would like to solve — I had a session here a while ago — immigration, in terms of finding more ways to get more immigration to the United States, in terms of keeping a lot of these bright engineers going to Michigan. They are job-generators. It's a misunderstanding to think they take jobs. They add jobs.

Host: For US Governor Rick Snyder, whether his "Chinese dream" can become a reality, for the most part, hinges on his follow-up actions; and the Republican Governor of the United States believes his "Chinese dream" will be a dream come true.

Snyder: We are going to be very quickly to show that what we're doing are action-based, not just stand and talk, in terms of being among the most business-friendly states in our entire country.