Whoever said business was bad in San Francisco? Mayor Gavin Newsom on Friday announced the opening of the ChinaSF Beijing office in response to the growing demand for greater business exchanges between the world’s two largest economies — the United States and China.
“As the gateway to the Pacific, ChinaSF builds San Francisco’s history of shared cultural and economic ties with China, and strengthens mutual economic prosperity through enhanced relationships between San Francisco and Chinese businesses,” Newsom said. “ChinaSF’s business presence in Beijing will truly leverage China’s growing market and innovation for San Francisco’s economy.”
With offices in Beijing, Shanghai and San Francisco, ChinaSF is a public-private initiative of the San Francisco Center for Economic Development. Its goal is to attract and retain Chinese investment and business expansion into San Francisco and the Bay Area, and to also support regional businesses in their business efforts in China, according to the mayor’s office.
Between 2008 and 2010, amidst one of the worst financial crises in history, ChinaSF successfully facilitated the expansion of over 10 companies to San Francisco, and helped a similar number of Bay Area based companies make important business connections in China. In addition to the financial investment into the Bay Area, ChinaSF’s efforts have directly created over 120 jobs for the Bay Area not counting any resulting multiplier effects and benefits.