San Francisco, Shanghai look to deepen economic ties

San Francisco and Shanghai — leaders in technology, finance and culture in their respective hemispheres — have unique opportunities to further deepen economic collaboration and mutual development, mayor of the Californian city said at an event in Shanghai during the weekend.

San Francisco looks forward to learning mutually with Shanghai in the fields of electric vehicles, artificial intelligence and medical technology, and strengthening exchanges about smart cities as well as green and low-carbon development, said London Breed, mayor of San Francisco, while leading a United States delegation to meet with 80 domestic business leaders.

As one of the first pairs of sister cities in China and the US, which began diplomatic relations 45 years ago, San Francisco and Shanghai are known for their vibrant economies and innovative spirit, and are a testament to the transformative power of openness and diversity, she said.

President Xi Jinping and US President Joe Biden laid out a future-oriented vision during their historic meeting in San Francisco in November.

"Shanghai, with its remarkable economic growth, thriving manufacturing sector and status as a global financial center, mirrors many of the attributes that make San Francisco a fruitful place for investment," Breed said at the Saturday event, which was organized by the Shanghai Federation of Industry and Commerce and the San Francisco Bay Area Council.

"By working together, we can unlock new avenues for economic development, innovation and cultural exchanges that will benefit not just our cities, but also continue to help the global process," she added.

John Grubb, chief operating officer of the San Francisco Bay Area Council, said the western US is a frontier — a place to try out new ideas and find a new life."Today, we see such similarities in Shanghai, the world's newest frontier, especially for business development," he said.

Gong Zheng, mayor of Shanghai, who met with Breed the same day, said the city looks forward to further strengthening its collaboration with San Francisco, to achieve a higher level of mutual benefit.

"San Francisco is home to well-known universities, scientific research institutions and technology enterprises, and is at the forefront of artificial intelligence and life sciences, among other fields. We hope to promote cooperation and exchanges between universities and scientific research institutions of the two places," he said.

Shanghai welcomes enterprises from San Francisco to invest and thrive in the city, and encourages outstanding local enterprises to go to San Francisco and make investments, Gong added.

At the event attended by business leaders from the technology, finance, culture and tourism sectors, among others, the San Francisco Chamber of Commerce and the Shanghai General Chamber of Commerce signed a memorandum of cooperation that focuses on resource matching and integrated development of the industrial and commercial sectors of the two cities.

Xu Yuanyuan, general manager of Weiheng Intelligent, a domestic provider of battery energy storage solutions with an international network of research and development, manufacturing and sales, said the enterprise plans to set up a regional headquarters in the San Francisco Bay Area soon.

"California, the beachhead for energy policy for the North American market, is experiencing unprecedented growth in energy storage. It plays an important role in balancing supply and demand, and contributes to environmental sustainability, in which both the US and China have strong belief," he said.

Zou Qingling, CEO of Joyu, a Shanghai-based smart tourism service provider, said that more tourism products will be developed for residents of Shanghai and San Francisco as they show more interest in learning about each other's culture, history and lifestyle.

"Tourists from Shanghai to San Francisco are getting younger. Also, we're receiving a rising number of orders for business delegations and conference groups from financial and technological innovation backgrounds. Such new situations reflect not only visitors' desire for in-depth cultural exchanges, but also highlight the unique charm of San Francisco's atmosphere in scientific and technological innovation," she added.