May 9, 2007, President Charlie Zhang was invited to attend Sino-U.S. High Tech Forum and signing ceremony led by Ms. Xiuhong Ma, Vice Minister of Ministry of Commerce of China.

On May 9, Multi enterprises from China signed 27 contracts with U.S. high tech companies, in the total amount of $4.32 billion. In addition, one $100 million contract was signed to invest in San Francisco Bay Area by Chinese companies. The U.S. signers were U.S. major high tech companies such as Microsoft, Oracle, Cisco, Hewlett-Packard and Texas Instruments.

Ms. Ma made a speech that California is leading the way in high tech, agriculture products and entertainment. San Francisco is the financial center of U.S. west coast. China has become the fourth largest exporter of California, indicating by annual export of $10 billion. About 2,000 California companies make investment in China while 100 Chinese companies make investment in Northern California.

Vice Minister Ma revealed that the delegation she led included over 180 senior managers from 130 major Chinese enterprises. Those enterprises were engaging in many industries such as software, computer, semi-conductor, telecommunication and finance. San Francisco was the first stop of this North American trip. The delegation would visit more U.S. cities and was expected to sign contracts in the total amount of $40 billion.

During his speech, Garamendi, the Lieutenant Governor of California, pointed out that the signed contracts at that day would help to strengthen the Sino- U.S.’s bilateral cooperation and communication in many aspects. California was suitable for Chinese enterprises to invest in the fields of high tech, biochemistry, pharmacy, alternative energy sources and environmental protection.