The Working Group is, on the Chinese side,Led by the Ministry of Commerce (MOFCOM), whith Beijing, Shanghai, Tianjin, Qingdao, Shenyang, Hangzhou, Wuhan, and Chendu, as the eight cities as its members.The commerce authority in each of these cities will be responsible for the coordination. The Chicago side is Led by the Mayor's Office with World Business Chicago, also including Choose Chicago and the Chicagoland Chamber of Commerce as its members. The Two Parties may take in more members under appropriate circumstances in the future based on mutual agreement of the Two Parties.
The Two Parties respectively designate the Investment Promotion Agency of MOFCOM and World Business Chicago as representatives of the business communtiy to join the Working Group and assume the functions and responsibilities of the Working Group secretariat for daily communication, contact, information exchange, business project promotion and business activities organization.
Other government bodies, chambers of commerce or business associations can be invited to certain activities based on mutual agreement of the Two Parties.
The Two Parties will set up an annual meeting mechanism in the forms of video conference or meeting in person.The time, form, and place of each meeting will be decided by the Two Parties through consultation. The annual meeting will be organized by the Working Group secretariat.
The Two Parties are committed to creating an enabling environment for companies and providing necessary assiscance to businesses. Cooperation can be conducted in the folloing ways:
-To exchange information on regular basis about trade, investment, and cooperation projecs and exhibitions
-To continue city to city cross promotion,
-To organize exchanges of trade and investment promotion missions and help companies seek business opportunities,
-To organize delegations of entrepreneurs to attend economic and trade fairs held in China and the city of Chicago;
The Two Parties will encoutage companies to cooperate in the following key sectors; manufacturing, tourism, finance and insurance, professional services, wholesale and retail, transportation and logistics, and infrastructure.
This MOU will enter into force on the date of signature and shall remain in force unless either of the Two Parties gives notice in writing of its intention to terminate this MOU.
The Working Group mechanism referred to in this MOU shall work together with other established and future mechanisms between relevant Chinese cities and City of Chicago.
This MOU is done in duplicate in Beijing on December 23rd , 2013, in the Chinese and English languages, both texts being equally authentic.