Council Activities

Members Gather in Beijing for Annual CHOPS Meeting

Developments in equity financing and mergers and acquisitions were covered during one afternoon session, which featured Gao Xiqing, CEO of Bank of China International Holdings Ltd. in Hong Kong; Doug Markel, managing partner at the Beijing office of the law firm Freshfields; and Davin MacKenzie, chief of mission at the International Finance Corp. Resident Mission in China. George Plant (sector coordinator of the World Bank Resident Mission in China's Urban, Water, and Environment Department); Husayn Anwar (managing director of ERM China); and Mitchell Silk (partner at Allen & Overy in Hong Kong) gave updates on China's environmental infrastructure in another session. The workshop on managing public relations and media fires featured Hunter Xia, manager of Marketing and Corporate Communications for Northwest Airlines; Jessica Chan, manager of Greater China Public Relations for Eastman Kodak Co.; and David M. Jacobson, managing director of Sinofile Information Services, all of whom provided case studies. The fourth workshop addressed Year 2000 problems in China. I-Lin Chow, IBM China's year 2000 manager, Hua Pinlan, director of the Beijing Informatization Office, and Jia Li, an engineer with the Beijing Y2K Computer Problem Office, explained China's efforts to prepare for the century changeover.

Council Welcomes Premier Zhu Rongji in New York

Among the highlights of the speech was Zhu's thorough explanation of the importance of PRC World Trade Organization (WTO) accession both to China and the United States. Zhu stated that only through competition could China's state enterprises reform successfully, and that the Shanghai insurance sector in particular was one example of how allowing foreign competition into China benefited Chinese consumers and companies. He said that one of his colleagues in government had called him a "traitor" when he awarded the license to sell insurance in Shanghai to American International Group, Inc. but later told him he'd been right to do so. And again, when forging the landmark deal with Eastman Kodak Co. to restructure China's photographic film industry, he was called a traitor by a government colleague, who later also recanted his accusation. Thus, regarding the WTO concessions he granted in negotiations with US trade officials, he said he was confident he would not be called a traitor a third time.

Zhu also won over the audience with his well-known sense of humor, joking about topics ranging from the alleged illegal donations by PRC citizens to US political campaigns in 1996, to lighter topics such as which of the six US cities on his tour was his favorite.