New York State Delegation of Legislators to China Announce New Business Opportunities to State

(New York, NY) Following a successful nine-day trade mission to China sponsored by the Asian American Business Development Corporation (AABDC), legislative leaders today announced several agreements reached which could result in millions of dollars in revenue to the state.

Senate President Pro Tempore Malcolm A. Smith and Assembly Majority Leader Ron Canestrari, leaders to the twenty-six member delegation, also were on hand with members of the Jiangsu Provincial People’s Congress in the signing of an agreement commemorating 20 years of sister state relations between Jiangsu Province and Buffalo, as well as to re-affirm “friendly relations” between the two states. 

“Especially during times of fiscal crisis, it is vitally important we promote inward investment in New York, spur economic development and create jobs,” said Senator Smith. “Through the trade mission we were able to meet with several investors interested in bringing their business to the world’s financial capital, which could result in new revenue to the State as the legislature prepares to tackle the $3.1 billion budget deficit.”

“I am hopeful that through the contacts made and discussions had, that New York will be the beneficiary of private investment from China,” said Assemblyman Canestrari. “The exchanges we had were all positive and I believe will lead to good things for our state.”

“Over the course of the past year, New Yorkers have been hit hard by the financial downturn, resulting in record job loss,” said Senator Sampson. “The opportunities identified in China will result in hundreds, if not thousands, of specialized and non-specialized jobs for the entire state. I look forward to playing a role in moving these discussions along to get New Yorkers back to work.”

Additional partnerships being explored include:

· ZDWT: ZhongDe Group designs, manufactures and installs pyrolytic, grate and rotary kiln waste incinerators for the disposal of solid medical, municipal (mixed household refuse) and industrial (including hazardous) waste.

· Trina Solar: One of the leading energy providers in the world, Trina Solar was established in 1997. Total annual sales income for the company exceeds $100 million. Trina Solar is located in several countries, and had expressed interest in New York State for location of its North America headquarter. 

· Macalline Furniture Company: The number one furniture retail operators in China, Macalline is looking to build and operate stores and corporate offices in the Upstate region of the state. The furniture models are predominantly high tech, 21st Century furniture designs. 

The 2009 trade mission delegation was the largest group since the inaugural trip in 2004, noted Senator Smith. Past trips have also produced successful ventures, including partnership with Cathy Wylde and Vantone, a Chinese real estate company to New York, securing approximately 200,000 ft. in the to be completed World Trade Center. 

Other delegation members included: Senator Kevin Parker (D-Brooklyn); Assembly Members Marc Butler (R-Herkimer), Nancy Calhoun (R-New Windsor), Dennis Gabrysak (D-Cheektowaga); Donna Lupardo (D-Binghamton), John McEneny (D-Albany), and Audrey I. Pheffer (D-Far Rockaway); Freeport Mayor Andrew Hardwick, among several business representatives.

Chinese business leaders will visit New York State before the end of the year to continue discussions on the proposed business opportunities. Additional ventures may be announced in the near future, including an e-waste company that has expressed significant interest to invest in New York.