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Dec. 14, 2021: Lilly to Collaborate with Chinese Company

 Posted by on December 14, 2021  News  Comments Off on Dec. 14, 2021: Lilly to Collaborate with Chinese Company
Dec 142021
 

Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has inked a research collaboration and licensing agreement with Regor Therapeutics Group, which is co-located in China and Boston. Lilly says as part of the deal, the companies will work together to discover, develop and commercialize novel therapies for metabolic disorders.

Per the terms of the agreement, Lilly will have a license to select Regor intellectual property, for which it will be responsible for the clinical development, manufacturing and worldwide commercialization, except in China, Macau, Hong Kong and Taiwan.

“Through this collaboration, we will have the opportunity to expand treatment options available to patients suffering from metabolic disorders,” said Dr. Ruth Gimeno, vice president, diabetes research and clinical investigation at Lilly. “Regor’s technology will also allow Lilly to further accelerate innovation and deliver breakthrough therapies in obesity and diabetes.”

Regor will receive an upfront payment of $50 million, with the potential to receive up to $1.5 billion in payments based on the achievement of certain milestones, as well as tiered royalties. The initial payment partially includes an equity investment by Lilly.

Courtesy: Inside Indiana Business

Oct. 26, 2021: ACSI Hosts China Business Conference

 Posted by on October 28, 2021  News  Comments Off on Oct. 26, 2021: ACSI Hosts China Business Conference
Oct 282021
 

On October 26th, ACSI hosted its sixth annual China Business Conference on an online platform which included virtual exhibition booths, B2B directory, and interactive livestream. The half-day event, which hosted more than 135 business and government leaders, focused on the changing business dynamic between the U.S. and China and how Indiana businesses can cope with trade uncertainties. Speakers and panelists included:

 

After the Business Conference, a networking reception was held at Barnes & Thornburg’s downtown Indianapolis office. New Indiana Secretary of Commerce Mr. Brad Chambers delivered welcome remarks followed by the presentation of ACSI’s “Chen Legacy Award” to Mr. Harrison Ding.

Thank you to our 2021 Sponsors who helped make this event a success!

Oct. 25, 2021: US-China Business Relations From the Perspective of the American Heartland

 Posted by on October 25, 2021  News  Comments Off on Oct. 25, 2021: US-China Business Relations From the Perspective of the American Heartland
Oct 252021
 

“Is it too late to invest in China? Have tariffs and rising political tensions ended future opportunities for US business interests in China? These are the questions that business leaders have pondered since the onset of the US-China trade war in 2018. Some American business professionals would answer a resounding ‘yes,’ particularly as troves of foreign businesses have begun the process of decoupling from China amid a growing pessimism regarding the state of bilateral relations. On the other hand, some statistics have boldly declared that trade relations are better than ever. In fact, US trade in goods with China is up 36% through the first eight months of 2021 from the pre-pandemic environment in 2019.

In order to obtain a clearer understanding of the current state and future outlook of US-China business relations on a local level, we spoke with the directors of two different US-based China business organizations. Both Pat McAloon, the Executive Director of the Greater Columbus Chinese Chamber of Commerce, and Colin Renk, Executive Director of the America China Society of Indiana, oversee the operations of their respective non-profit organizations that specialize in assisting local small- and medium-sized enterprises (SMEs) to do business in China. Leveraging their member networks of SMEs and their own day-to-day experience, both Pat and Colin provided unique perspectives on US-China business relations from the point-of-view of the American heartland.”

Read Full Article: https://thechinaguys.com/us-china-foundation-business-relations-american-heartland/

Oct. 21, 2021: Allison Transmission to Invest $42M in China-based Jing-Jin Electric

 Posted by on October 21, 2021  News  Comments Off on Oct. 21, 2021: Allison Transmission to Invest $42M in China-based Jing-Jin Electric
Oct 212021
 

INDIANAPOLIS – Indianapolis-based Allison Transmission Inc. (NYSE: ALSN) says it is making a strategic equity investment in Jing-Jin Electric, headquartered in China. Allison plans to invest $42 million as part of JJE’s initial public offering in the Shanghai Stock Exchange.

Allison says the investment follows a recently-announced strategic partnership between the two companies, as well as a debt financing commitment from Allison. The company says the investments will support JJE’s commercial electric product development, testing and manufacturing efforts in North America.

“This investment, in support of the Allison and JJE collaboration, is an exciting development that highlights Allison’s continued commitment to, and investments in, the commercial electric vehicle space,” David Graziosi, chief executive officer of Allison Transmission, said in a news release. “In further support of the relationship, Allison is proud to participate in JJE’s initial public offering as a strategic investor.”

Jing-Jin Electric manufactures electric motor, inverter, and integrated propulsion systems for the electric vehicle market.

Courtesy: Inside Indiana Businesss

Oct. 4, 2021: Chinese Subsidiary Opens Facility in Jeffersonville

 Posted by on October 2, 2021  News  Comments Off on Oct. 4, 2021: Chinese Subsidiary Opens Facility in Jeffersonville
Oct 022021
 

HempRise, a subsidiary of China-based Layn Natural Ingredients, opened the doors to its new 100,000 square foot facility last Thursday in Jeffersonville, Ind.

The $80 million facility is expected to reach full capacity next year becoming one of the largest hemp-producing facilities in the U.S.

“HempRise has a passion for unleashing mother nature’s healing power by creating natural ingredients with amazing health benefits, we bring science and economy of scale together to make hemp derived cannabinoids widely available to the masses ,” said Dr. Zheng Yang, general manager of HempRise. “We are also committed to help building local community and contribute to the growth of manufacturing in Indiana.”

The facility, which will extract and process CBD from hemp, will process up to 8 million pounds of biomass per year within the River Ridge Commerce Center.

“We have a broad spectrum of industrial sectors that are represented at River Ridge,” said Jerry Acy, executive director of the River Ridge Development Authority. “We are really excited and happy to be part of this emerging industry in the state of Indiana and the region.”

Sep. 8, 2021: Zhejiang-Indiana Virtual Roundtable

 Posted by on October 2, 2021  News  Comments Off on Sep. 8, 2021: Zhejiang-Indiana Virtual Roundtable
Oct 022021
 

On September 8th, the Zhejiang Foreign Affairs Office hosted the Zhejiang-Indiana Virtual Roundtable. The purpose of the event was to promote and explore bilateral investment and trade opportunities, especially in the cities with existing sister-city relationship.

Participating organizations from Zhejiang included the Foreign Affairs Office, Department of Commerce and the China Council on Promotion of International Trade along with representatives from the cities of Hangzhou, Jiaxing, Jinhua, and Taizhou.

Participating organizations from Indiana included the Indiana Economic Development Corporation, ACSI, and Indiana University along with representatives from the cities of Batesville, Fort Wayne, Indianapolis, and Wabash.

Jul. 14, 2021: Leutert Named Public Intellectuals Program VII Fellow

 Posted by on August 4, 2021  News  Comments Off on Jul. 14, 2021: Leutert Named Public Intellectuals Program VII Fellow
Aug 042021
 

ACSI Board Member Dr. Wendy Leutert (GLP-Ming Z. Mei Chair of Chinese Economics and Trade at Indiana University) has been named as a Fellow for the seventh round of Public Intellectual Program (PIP) by the National Committee on US-China Relations. Launched in 2005, the PIP is dedicated to nurturing the next generation of China specialists through activities spread out over two years.

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Jun. 23, 2021: ACSI Featured in SupChina China Corner Office Podcast

 Posted by on June 23, 2021  News  Comments Off on Jun. 23, 2021: ACSI Featured in SupChina China Corner Office Podcast
Jun 232021
 

This week on China Corner Office, Chris Marquis talks with Mitchell Spencer, the founder of Indiana-based Polaris Rare Earth Materials, Craig Allen, the president of the US-China Business Council (USCBC), and Colin Renk, the executive director of the America China Society of Indiana. They discuss the growth of Mitchell’s businesses focused on manufacturing and supplying rare earths, particularly neodymium magnets to U.S. manufacturers, and why China is so dominant in this industry. The guests also reflect on the different lessons they have learned about doing business in China, such as the importance of flexibility and how to develop successful partnerships. Regarding the current environment, they discuss how the tariffs and global nature of supply chains affect U.S. businesses, especially SMEs.

Listen Now: https://supchina.com/podcast/china-and-rare-earths-a-view-from-u-s-states/

May 19, 2021: Indiana Exports to China Increase 56% in 2020, Becomes 5th Largest US State Goods Exporter to China

 Posted by on May 19, 2021  News  Comments Off on May 19, 2021: Indiana Exports to China Increase 56% in 2020, Becomes 5th Largest US State Goods Exporter to China
May 192021
 

Last year, Indiana goods exports to China surged by $1.4 billion—up 56% percent from 2019. After two years of trade tensions that hurt American consumers and businesses, market openings and Chinese tariff exclusions in support of purchase commitments stoked US exports, according to a study released today by the US-China Business Council (USCBC), a non-partisan trade association representing more than 200 US companies from a wide range of industries.
“Indiana has been consistently punching above its weight and that’s down in no small part to the state’s strong leadership and collaborative business environment,” said Craig Allen, CEO and President of the USCBC.

Last year, Indiana’s top exports to China included pharmaceuticals & medicines ($1.4 billion), oilseeds & grains ($1.2 billion), medical equipment & supplies ($224 million), motor vehicle parts ($210 million), and resins & synthetic fibers ($107 million). According to USCBC, Indiana’s exports to China supported 20,400 American jobs in 2019.

“Since 2018, we’ve made it our mission to help companies navigate trade-related issues to help Hoosier business not only grow, but thrive,” said Colin Renk, executive director of the America China Society of Indiana (ACSI), a business-focused non-profit that facilitates bilateral trade and investment between Indiana and China.

Between 2011 and 2020, Indiana’s exports to China increased 88% while Indiana’s exports to the rest of the world grew 3%. To read the full report, please visit https://www.uschina.org/reports/2021-state-export-report.

May 3, 2021: As US-China Ties Fray, Indiana Firms Seek to Keep Trade Flowing

 Posted by on May 3, 2021  News  Comments Off on May 3, 2021: As US-China Ties Fray, Indiana Firms Seek to Keep Trade Flowing
May 032021
 

Fifty states, fifty stories of trade relations with China. What distinguishes these stories from the national narrative, which is increasingly marked by wariness and even hostility toward China, is a pragmatic desire to keep trade flowing, preferably growing, while the federal government figures out the meaning of terms like “strategic competitors.”

States are the terrain where rubber meets the road when it comes to trade policy. Get the trade policy right, and state economies benefit. Getting it wrong means job and tax revenue losses. For example, according to a recent study commissioned by US-China Business Council, trade with China supports 1.9 million US jobs. In 2018, the most recent year data are available, there were at least 200,000 fewer US jobs because of the trade conflict with China. Government officials and businesspeople are left to wonder: Will trade continue to shrink into a shadow of its former self, or will it somehow expand to new heights in the years to come?

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