News

May 25, 2022: ACSI Hosts Chinese Sub-National Delegation

 Posted by on June 14, 2022  Uncategorized  Comments Off on May 25, 2022: ACSI Hosts Chinese Sub-National Delegation
Jun 142022
 

On May 25th, ACSI hosted a Chinese sub-national delegation visiting Indiana for the Global Economic Summit. Executives from Shanghai, Jiangsu, and Shenzhen presented bilateral business opportunities in a private VIP roundtable followed by a public welcome reception hosted by Faegre Drinker Biddle & Reath. Representatives from the Chinese Consulate including Consul General Zhao Jian and Commercial Counsellor Hu Yingzhi joined the public reception along with 60 ACSI Members from across the state. Earlier in the day, the delegation toured and visited the Indiana Economic Development Corporation, Eli Lilly & Company, and The Heritage Group.

Apr. 21, 2022: Huzhou Virtual Business Exhibition

 Posted by on April 27, 2022  Uncategorized  Comments Off on Apr. 21, 2022: Huzhou Virtual Business Exhibition
Apr 272022
 

On April 21st, the America China Society of Indiana, in collaboration with the Greater Cleveland and Columbus (OH) Chinese Chambers of Commerce, hosted the 2022 US-China Virtual Business Exhibition: Huzhou City, Zhejiang. With the support of the Huzhou City Commerce Department and Huzhou Tourism Investment & Commercial Exhibition Co., Ltd., eight Huzhou-based companies presented their U.S. business interests to an audience of more than forty business and economic development leaders.

Planning Committee:
America China Society of Indiana
Greater Cleveland Chinese Chamber of Commerce
Greater Columbus Chinese Chamber of Commerce
Huzhou City Commerce Department
Huzhou Tourism Investment & Commercial Exhibition Co., Ltd.

Huzhou Companies Presenting:
Changxing Mingwang Rubber & Plastic Technologies Co., Ltd.
Huzhou Abestcasting Metal Products Co., Ltd.
Huzhou Mingsheng Import & Export Co., Ltd.
Huzhou Mino Daily Chemicals Co., Ltd.
Zhejiang Baizhijia Furniture Co., Ltd.
Zhejiang New Insight Material Technology Co., Ltd.
Zhejiang Tongchem Industry Group Co., Ltd.
Zhejiang Yongyu Home Furnishings Co., Ltd.

Mar. 10, 2022: Chinese Fashion Retailer, IU Partner on Global Retail Education

 Posted by on March 10, 2022  Uncategorized  Comments Off on Mar. 10, 2022: Chinese Fashion Retailer, IU Partner on Global Retail Education
Mar 102022
 

Courtesy: Inside Indiana Business

A nearly-completed distribution center for fashion attire, apparel and beauty products in Whitestown will soon give select students from the Indiana University Kelley School of Business a unique opportunity to learn about global retail and e-commerce. The Center for Education and Research in Retail at IU and online fashion e-retailer SHEIN have entered a partnership to create fellowships for students. The company, which does business in approximately 150 countries, relies on a digital supply chain to control costs and ship quickly.

In an interview with Inside INdiana Business, center director John Talbott said the relationship will provide opportunities to retail-focused students on business beyond U.S. borders.

“When the opportunity to connect with SHEIN evolved over the last six months, it was really interesting to me because I want our kids to have the opportunity to learn about retail not only at the domestic level, but also internationally,” said Talbott.

SHEIN was founded in China, but it now has three operational hubs in Los Angeles, Singapore and Guangzhou.

Talbott says SHEIN relies heavily on social media platforms, like Instagram, TikTok and Snapchat, for marketing to its target audience: female Gen Z’ers.

“SHEIN, in addition to being an international company, has a unique interface in terms of the way students can acquire information about product and then acquire the product itself. And that makes it interesting as well because technology is so important in retail right now and this company is utilizing it in a way that’s different from anyone else,” explained Talbott.

Mark Aitken, vice president of U.S. public affairs for SHEIN, says the partnership stemmed from an initial plan for economists at the Kelley School of Business to conduct an economic impact study once the central Indiana facility becomes operational. From that, the partnership evolved.

“It’s a multifaceted approach that we’re taking to this partnership,” said Aitken. “We’re looking at an initial fellowship… opportunities with the students there to work directly with SHEIN professionals…to give the students a real flavor for what a company like SHEIN is all about, and how we’ve been operating and approaching the larger retail space for us.”

Last April, SHEIN announced plans to establish a 650,000-square-foot distribution center in Whitestown, which will serve as the company’s main hub in the Midwest. However, Aitken tells Inside INdiana Business that plans are already in the works to potentially expand the Boone County facility up to one million square feet.

SHEIN says it plans to employ about 850 workers at the site by the end of 2022.

“As you start looking at just really what those opportunities are especially with working with a company like ours, it’s clear that over the coming years we’ll have a lot of opportunities there in the region,” said Aitken.

Aitken says the construction of the warehouse is complete and now crews are adding storage racks and other equipment needed for the movement of product. SHEIN expects to be operational in the third quarter of this year.

In terms of educational opportunities, Aitken says the company this week posted internship opportunities to examine the company’s environmental, sustainability and government sector.

“ESG is a very topical issue and has been for quite some time. Understanding how that fits into an operation like SHEIN will be critical,” said Aitken, who adds it provides a critical learning opportunity for students.

Jan. 30, 2022: ACSI Releases 2021 Year in Review

 Posted by on January 30, 2022  Uncategorized  Comments Off on Jan. 30, 2022: ACSI Releases 2021 Year in Review
Jan 302022
 

After the tumultuous 2020, it’s hard to say that 2021 was a return to normal, but
business never sleeps and neither do we. From our comprehensive monthly
Indiana-China Updates, content-focused webinars and largest & most in-depth
Business Conference in our history, we made it our mission to provide the latest
guidance, objective advice and best practices to help Hoosier and Chinese
companies make sense of this new normal. And it’s paid dividends.

Year in Review 2021

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

 Posted by on December 14, 2021  Uncategorized  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  Uncategorized  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  Uncategorized  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  Uncategorized  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  Uncategorized  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  Uncategorized  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.