The Great Lakes State is one of the top US destinations for Chinese investment. Governor Rick Snyder is a main reason why.
Michigan Governor Rick Snyder considers the Michigan-China relationship among his top international priorities. Since taking office in January 2011, Governor Snyder has led seven trade and investment missions to China, one each year, and plans to make his eighth trip there in 2018. In this exclusive interview with China Daily, Snyder airs his views on a variety of topics, ranging from trade, investment and technology innovation to tourism, education exchange and the goals set by the recently concluded 19th National Congress of the Communist Party of China.
Q: Michigan is among the top states in the US attracting Chinese direct investment, while big-name companies from Michigan are also actively investing in China. What is the current status of Chinese direct investment in your state, and why has Michigan become a hot spot for Chinese investment? What is your projection for two-way investment in the years to come?
A: It's true that Michigan has been one of the top destinations in the country for investment from China. More and more companies are choosing to invest here each day. They want to join Michigan's world-leading industries, harness Michigan talent and innovation and enjoy the Michigan lifestyle.
Michigan is home to more than 300 Chinese companies and more than $4 billion in investments, not to mention our 12,000 Chinese students, and 30 Chinese community organizations. The strength of our state's Chinese community makes it easy for a Chinese company to invest here and succeed. We even have a state-funded nonprofit, the Michigan-China Innovation Center, with a bilingual staff that is dedicated to assisting potential Chinese investors. I expect more investment will come.
Q: Subnational (state-to-province) level trade, economic cooperation and investment play an important role in fostering a stronger and healthier China-US business relationship. You have made seven business trips to China since 2011, telling Chinese investors that "there is no better place in North America for Chinese companies to expand than in Michigan". Can you tell us why, and also note what you believe have been the major achievements of your previous trips to China. How do you value the state-province level exchange and cooperation? Do you plan to make another visit to China in the near future? If so, please tell us the timing of the visit, the places you are going to visit and your main goals.
A: The Michigan-China relationship has been among my top international priorities since taking office. I've led seven trade and investment missions to China, one every year I've been in office, and I plan to make my eighth and final trip in 2018. I tell Chinese investors that there is no better place for them to expand than in Michigan because, well, I believe that it is true. Chinese investors are extremely savvy and looking to find the best value for their money - Michigan is exactly that. Michigan has a greatly improved business environment, currently ranked No. 7 in the country. Plus, talent and real estate are high quality and affordable, and the cost of living is lower than that of any other state or metropolitan area in the Midwest.
Q: You have a strong business background and have been seeking to create a pro-business environment in Michigan, focusing on job-creating business growth and investment. What role can Chinese investors play in your campaign of Reinventing Michigan?
A: Chinese companies can do a lot to contribute, along with our other foreign businesses. Foreign direct investment is important because it creates jobs and increases the state's economic competitiveness. When a Chinese company comes to Michigan and establishes an R D center, for example, it brings high-paying jobs, innovation, and opportunities to develop collaborative programs with Michigan businesses.