Los Angeles and California's Prime Economic Position Highlighted at CTBC Bank Annual Event
Leadership of CTBC Bank USA and Stephen Cheung, President of World Trade Center Los Angeles (WTCLA), emphasized the strong outlook for business opportunity in Greater Los Angeles and California, at CTBC Bank's annual year-end event yesterday.
CTBC Bank's signature Customer Appreciation Luncheon, which invites top clients and leading community members, was held at the Jonathan Club in Los Angeles as a kickoff of the bank's 30th Anniversary, which recognized record financial results and achievements in community support.
"We have been honored to serve our neighborhoods, stimulate growth in our regional economies, serve immigrant communities and give back for the future prosperity of customers and families," said Morris Li, Chairman of CTBC Bank.
"Despite trade disputes and other hurdles, we've been very successful working with business leaders, partners and regional officials to find solutions for our customers," added Noor Menai, President & CEO of CTBC Bank USA. "While we all face what seems to be a ?perfect storm' of business and policy challenges that are difficult to predict, Los Angeles and California are blessed with better economic and diversity advantages than almost anywhere in the world."
Highlight remarks from WTCLA's Cheung's keynote address on the unique advantages of "Investing in California," compared to other major global markets, included:
- "With all the market turmoil, when international investors look for a stable location for investments, they are going to continue to find California, Los Angeles and San Francisco will remain among the most stable and opportunistic on earth," in the context of ongoing challenges with Brexit, U.S./China trade disputes, Japan's ongoing lack of growth and uncertainty in Hong Kong and Latin America, he added.
- "International trade remains critical for our U.S. and Asian Pacific economies. Trade is especially critical for our California economy. In the Los Angeles Customs District alone accounts for $430 billion of international trade, with 43% of all incoming U.S. cargo by sea. Each daily nonstop direct flight that comes into Los Angeles equates to over $1 billion economic activities per year, per flight."
- "People talk about are more ?nationalistic' approach and protecting America first, but Los Angeles and California see it differently. We are not only different, we're represented by different people, including 224 languages spoken in Los Angeles County. That's what has made this region so able to withstand the volatilities because of the all the diverse connections we have."
About CTBC Bank Corp. (USA)
CTBC Bank USA is a trusted and established financial institution for commercial and retail customers. Founded in 1989 and headquartered in Los Angeles, CTBC Bank operates branches in California, New Jersey, and New York. The bank's operations include deposits, loans, credit cards, foreign exchange, letters of credit, wealth management, mobile, and electronic banking services. Customers benefit from access to large bank resources coupled with individual attention and customized service of a small bank. Its parent company, CTBC Bank Co. Ltd., is supported by more than $140 billion in assets and is among the largest banks in the world in terms of capital. For more information about CTBC Bank, visit www.ctbcbankusa.com.
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