(1888PressRelease)
August 30, 2007 - CHINA FINANCE CENTRE, the New York based multimedia and trade exposition center expanding business ties between China and the United States, has announced the establishment of the China America Trade Association (“CATA”). The purpose of the new organization is to develop policy initiatives dealing with commercial issues impacting trade between the U.S. and China.
In announcing the new organization, CFC president William J. Hallenbeck noted that the expansion of commerce between America and China is constantly frustrated by outside factors. often involving partisan politics. Hallenbeck stated, “During this session of the U. S. Congress, for example, we have seen certain members calling for a drastic revaluation of the yuan, a move which could, if carried out, certainly cause a regional and even a worldwide recession. CATA’s purpose will be to oppose such misguided and even dangerous proposals, which can seriously disrupt the orderly expansion of commerce.”
In a specific response to the yuan revaluation proposals, CFC has publicly called for the a new Congressional procedure, which would require that all bills be accompanied by an Economic Impact Statement outlining the likely results which passage of the legislation would have on business and individual taxpayers. The CFC proposal is designed to require that congressional members carefully assess the possible ultimate economic consequences of their actions as they advocate new legislative policies. CATA has set adoption of the Economic Impact Statement requirement as its first legislative initiative.
CATA is also organizing a Corporate Council to concentrate research on a series of critical commercial issues. The CATA Corporate Council will bring together representatives of leading companies and individuals engaged in US – China commerce.
About CHINA FINANCE CENTRE (CFC)
CHINA FINANCE CENTRE (CFC) is a first of its kind, permanent conference/trade exposition facility, specifically designed to assist, increase and expand investment and business opportunities between China and the U.S. CFC has been developed as a world class, state of the art China Business Exposition- Conference Center and information resource using operations centers both on Wall Street and in mid-town at Rockefeller Center in New York City.
WJ Hallenbeck
President
China Finance Centre
515Madison Ave
New York, NY 10022
Tel 9145880216
Fax 8019269269
eMail: wjhalle ( @ ) attg dot net
Web : www.chinafc.net
