California Opens Trade Office in Shanghai

The California Trade and Commerce Agency took another step in its efforts to increase the state’s role in the global economy by opening in Shanghai its 10th overseas office to help California businesses find trade and investment opportunities abroad. The Shanghai Office of Trade and Investment, directed by Katherine Shiffeler, a Shanghai native and international business consultant based in San Francisco, hopes to help build on growing California exports that last year reportedly rose by $3.9 billion and $2.6 billion to Hong Kong and China, respectively. The new office, which opened last week, will focus largely on Northern China while the state’s 10-year-old Hong Kong trade office will concentrate on China south of the Yangtze River. As part of its efforts, the Shanghai office is expected to bring together California exporters and foreign buyers, gather trade leads and advise California business executives on market penetration strategies. The office is also expected to promote California as a supplier and location for investment and, in addition, organize foreign investment and buying missions to the state. The Trade and Commerce Agency operates similar offices in London; Frankfurt, Germany; Mexico City; Jerusalem; Johannesburg, South Africa; Tokyo; Seoul; and Taipei, Taiwan.