The Houhai area in Nanshan District of Shenzhen, south China's Guangdong Province, September 17, 2020. Photo: Xinhua

The American Chamber of Commerce in China's (AmCham China) cooperation with South China's Guangdong Province has reached a new level, the chamber said on its WeChat account on Wednesday following an investment summit held on Monday and Tuesday.

The Chamber signed a Memorandum of Understanding (MoU) with the Guangdong commerce authority forging mutual trust and win-win cooperation, the news release said, sending a positive signal to its member companies. 

Under the MoU, AmCham China and the Guangdong commerce authority will set up high-level meetings and working group mechanisms to keep projects and communication open and updated.

It also marks one of the first US-China economic interactions since the return of Huawei CFO Meng Wanzhou, who remained under detention in Canada pending a Canadian judge's ruling on the US' extradition request for nearly three years.

Huawei is a leading Chinese tech firm based in Shenzhen, Guangdong Province.

AmCham China Chairman Greg Gilligan also attended a seminar along with representatives of a number of multinational companies hosted by Ma Xingrui, governor of Guangdong.

In the meeting, Ma briefed multinational firms about the opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area and throughout Guangdong in general. 

Ma pointed out China's strategy to develop the Greater Bay Area, the Shenzhen socialist demonstration area and two cooperation zones in Shenzhen's Qianhai and Hengqin offer vast opportunities for foreign firms. 

Ma also vowed to deepen high-quality opening-up and continue to improve business environment.

Global Times