Shanghai and New York Forge Partnership to Set Benchmark for China-U.S. Subnational Cooperation

The launch of OUR WATER Season 3 in New York highlights how Shanghai and New York are leveraging shared strengths in finance, trade, and urban innovation to become a model for subnational cooperation between China and the United States.

Philly Metrowire Staff
Business
Shanghai and New York Forge Partnership to Set Benchmark for China-U.S. Subnational Cooperation

On June 30, 2026, New York time, the launch ceremony and New York Forum for OUR WATER Season 3 were held at Bloomberg Headquarters in New York, co-hosted by Bloomberg L.P. The event, themed "Rivers of Opportunities," focused on the shared certainties of Shanghai and New York City, anchoring growth through open cooperation and reshaping the future through innovation and resilience.

The forum was attended by Michael R. Bloomberg, Founder of Bloomberg L.P. and Bloomberg Philanthropies; Tang Zhiwen, Minister of the Embassy of the People's Republic in the United States; Ma Xiaoxiao, Deputy Consul General of the People's Republic of China in New York; Chen Yiqun, Director-General of Information Office of Shanghai Municipality; and Hu Minghua, President of Shanghai United Media Group, along with over 200 guests from the political, business, finance, and cultural sectors of both countries. The forum explored the openness and similarities between Shanghai and New York to identify a shared framework of certainties among global hub cities.

The two cities share distinct advantages in sectors such as finance and trade, while also facing common challenges in urban renewal, low-carbon development, and digital transformation. Candid and open dialogue is essential for mutual learning and is expected to inject stability into China-U.S. relations. On the topic of how global capital understands the Chinese market, a panel titled "Investing in China, Winning the Future" featured Chinese and international guests discussing how the appeal of Chinese assets is shifting from traditional growth narratives to AI, high-end manufacturing, financial opening-up, and institutional market development. As a hub for financial opening-up, an asset allocation center, and a cluster for innovative enterprises, Shanghai has become a crucial gateway linking international capital with opportunities in China.

Consumption was another dynamic topic. At the second panel, "Opportunities in Emerging Consumer Markets," moderated by Bloomberg Television host David Westin, panelists observed that the consumer vitality of Shanghai and New York stems not only from market size but also from their ongoing ability to create experiences, understand people, and activate urban spaces.

Beyond the forum, the New York series of events for OUR WATER Season 3 includes: West Meets East·Shanghai & New York 2026 - A Polaroid 20×24 Special Exhibition; Chinese Opera: A Century of Dreams - An Exhibition of Art Design and Technology; an exhibition themed Shanghai's "One River, One Creek" and Jing'an CAZ; and a China-U.S. Business Leaders Dialogue in New York. These events shape a tangible and immersive waterfront narrative, allowing Shanghai and New York—two super metropolises that have thrived on water—to resonate in harmony through dialogue.

As Minister Tang Zhiwen stated in his address, Shanghai and New York are expected to become benchmarks for subnational cooperation between China and the United States and to make new contributions to fostering a "constructive China-U.S. relationship of strategic stability." The forum underscored the importance of subnational cooperation in an era of complex bilateral relations, with both cities leveraging their unique positions to drive mutual growth and understanding.

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