Dear members and friends：
In the summer of 2001, the US-China Foundation successfully held the "2001 US-China Forum" on July 20th and 21st at the Hyatt Hotel, in San Jose, California. The US-China Foundation sponsored this two-day forum to encourage Sino-US friendship and cooperation in new technology area in the 21st century. The participants of this year's Forum included Chinese officials from both the central government and local governments. Several of the Chinese participants were especially Special Economic Zones and High-tech Zones; other participants were business executives from the PRC or US; and USCF members and advisors. This year's Forum was co-organized by People's Daily Overseas Edition and China Daily, and co-sponsored by Seagate Technology Inc., Standard Chartered Bank, United Airlines, King and Wood LLP, Shenyang Dongxing Wood Products, Inc. and Rongchang Group.
The Forum opened with brief welcoming speeches by Mr. Larry Lee, the Executive Director of US-China Foundation; and by Dr. Ernest Scalberg, Senior Advisor to the Foundation and Dean of Fordham University Graduate School of Business Administration. Dean Scalberg was the US host of the Forum. Following the opening remarks by Larry Lee and Doctor Scalberg, a keynote speeches were given by Ambassador Charlene Barshefsky, the US Trade Representative under President Bill Clinton, and by Mr. Patrick O'Malley, the senior Vice President of Seagate Technology, which was a special sponsor of the Forum.
Ambassador Barshefsky gave the audience a very interesting speech about the challenges and opportunities facing China after its entry into WTO. Mr. O'Malley talked about Seagate's present commitment to the Chinese market and the development of its China strategy the 21st century. After his speech, Mr. O'Melley answered many questions about Seagate's present business experiences in China and expected impact of China's entry in WTO on Seagate's business in the future.
During the Luncheon Session, Mr. John Wall, the President of NASDAQ International, gave a speech, entitled "Public Equity Markets and Challenges Facing China's Markets". In his speech, Mr. Wall described the history and future plans of NASDAQ, both domestically and internationally. In the following question and answer session, he discussed the outlook, prerequisites, and general procedures for listing Chinese Companies on the NASDAQ Exchange.
In the afternoon session, Dr. Willie L. Lu, Member of Technological Advisory Council of U.S. Federal Communications Commission (FCC) and Principal Wireless Architect for Siemens AG, gave us a very interesting speech, entitled "The Prospect Of High-Tech Industry In The 21st Century", on the topic of "the convergence of the wireless, mobile and internet towards a beautiful wireless life in the 21st century". Then Mr. Youxiang Wang, CEO of Fullmoon Biotechnology, Inc., gave a speech entitled "Biotechnology Beyond 2000." Both speeches were very interesting and produced lively audience questions.
The morning of the second day of the Forum focused on the experiences of new ventures and the venture capital industry, which the title was "The Conjunction Of Venture Capital Industry And High-Tech Industry". This session's presentations were provided by the following individual:
Mr. Stanley Wong, Chief Executive of the China, Standard Chartered Bank, give a talk on the "Impact of WTO on the Banking Sector";
Mr. Andrew Kau, Senior Partner in Walden International Investments gave a talk on the past and present focus of Walden's venture capital investments in China and elsewhere;
Mr. Robert McAfee, Consultant to the World Bank and Asian Development Bank on China Projects, gave a talk on the US venture capital industry and suggested guidelines for preparing venture capital business plans;
Mr. Hong Lu, the CEO of UTStarcom Incorporated, described the history and rapid growth his company. UTStarcom is now the largest seller of telecommunication equipment in China.
During the second day's luncheon session, Mr. Yunxiang Wang, the Consul General of China to San Francisco, gave an excellent and informative speech on the relationship between US and China in past, now and future. In addition, Consul General Wang addressed China's view of some of the sensitive issues of the day. These issues included the Taiwan issue, China's entry into WTO and the important and opportunities provided by the Olympic being held in Beijing in 2008.
The focus of the afternoon session of the second day was on requests by the participants' for insight on "Sino-US relations in the entrepreneur's eyes". This topic was discussed by Ms. Kelly Chen, the Partner of King and Wood LLP, and by Mr. Bill Harrison who has worked on energy infrastructure projects in China for a number of years. The final speaker in the afternoon session was Dr. Ernest Scalberg who gave an exciting talk about Fordham University's excellent experience in setting up a graduate MBA program for Chinese students in Beijing in conjunction with Beijing University.
The two-day forum ended with a farewell banquet in New Pearl River Seafood Restaurant in San Jose. During the banquet, participants from both US and China toasted the relationship between China and the United States. Also, they expressed their thank to USCF for a successful Forum and warm service of the Hyatt Hotel. They all wished to have chances to attend the next year's Forum.
