Bingham McHale Managing Partner Toby McClamroch is visiting China as part of the trade delegation led by the Indiana Economic Development Corporation. He will share his insights throughout the mission on the Bingham McHale blog.
Sunday we met with Joe Yuan, one of the principals of Pacific World Trade Inc. (PWT). PWT is the trade representative for the Indiana Economic Development Corporation in China. It is a trading and consulting company. In our meeting, we discussed the primary functions of the state of Indiana's initiative including direct foreign investment in Indiana as well as the expansion of larger Indiana companies in China.
Indiana Secretary of Commerce Mitch Roob made a presentation about the strategic focus of our state. The four primary industry clusters are life sciences, energy, vehicles and agriculture. Overlapping those areas are the four strategic competencies of research and dev
elopment, information technology, advanced manufacturing and logistics. We discussed the need to focus our message on those areas.
We then went to dinner again with Mr. Ao. We were with a large group, including Guo Xiaoqi, the partner in the Beijing law firm we met previously. We discussed ownership issues in any entity that may be used for an investment in Indiana. The group agreed that the nature of the investment and the capital will drive the entity structure.
Mr. Ao brought his wife and daughter to the dinner. We ate at a club over-looking the Olympic stadium and natatorium, the birds nest and the cube. It was spectacular.
We spent the next morning visiting the Great Wall. It is positioned in the mountains, and is an unforgettable site. We climbed for some time.