The summit was attended by more than 100 top business leaders from Dow Corning, General Motors, Cisco Systems, Bayer MaterialScience, Dover Corporation, Alcoa, Honeywell, KPMG, APCO and dozens more.
AmCham Shanghai President Kenneth Jarrett noted in his opening remarks, "As China continues its industrial structure adjustment and economic upgrading, U.S. manufacturers maintain a leading edge during this transformation by offering innovative business processes, cutting-edge products and China-based R&D that can tailor products for local needs. By doing so, American manufacturers are not only well equipped to address the intensifying challenges of manufacturing in China, but also well positioned to tap into the growing opportunities in China's domestic market."
Keynote Jeremy Burks, president of Dow Corning Greater China, said, "Rising cost forces manufacturers to rethink their strategies. The shift we've observed from working with our customers is that instead of asking for low-cost products, they are increasingly looking for products and solutions that could boost their productivity and efficiency as well as optimize their operational process."
He added, "Recognizing the changing landscape of manufacturing in China and to maintain our competitive strength in the industry, we've invested in a state-of-art technology manufacturing facility in Zhangjiagang, Jiangsu province, where we applied the best possible scale and practice in order to provide innovative products that allow our customers to maximize productivity output and succeed."
Burks remarked on Dow Corning's selection of China to locate this manufacturing facility as a strategic decision. "The market is here," Burks said. He referred to the AmCham Shanghai 2012-2013 China Business Report finding that nearly 60 percent of surveyed companies reported they are "in China for China" to tap into growing opportunities that come with China's economic growth transformation that is being driven by domestic consumption and an expanding services industry.
