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China's growing importance to the U.S. biz was underlined recently when a delegation of mayors and senior officials from nine biz towns in California visited China to meet senior financiers and talk joint ventures.
The visit, which ran June 16 thru 26, was hosted by the Chinese central government and the China Banking Regulatory Commission, and the private-sector shingle DMG Entertainment, local sources said.
The 26-member delegation visited Beijing, Shanghai and Nanjing, and attended a special mayors' forum.
The visit was led by Manhattan Beach Mayor Richard Montgomery, and also included Jess Talamantes, Burbank mayor; Richard Bloom, Santa Monica mayor; Laura Zahn Rosenthal, the mayor Malibu; Laura Friedman, mayor of Glendale; Arcadia Mayor Gary Kovavic; and Julie Wagner, executive director at Beverly Hills Conference and Visitors Bureau.
As many of the cities represented have big entertainment biz interests, one focus of the visit was on exploring ways to build up media and film-related joint ventures with U.S. companies located in the respective cities and districts.
In the j.v.s, DMG would act as the private partner, with financing coming from the CBRC and oversight from the government. DMG could not be reached for comment on the j.v. reports.
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