CLC Advisors, LLC is honored to be invited to the U.S.-China High-Level Consultation on People-to-People Exchange, CPE2016 in Beijing, China this month running concurrently with the U.S.-China Strategic & Economic Dialogue led by U.S. Secretary of State John Kerry and U.S. Undersecretary of State Richard Stengel. CEO Cindy Chin joined members of the Secretary’s Office of Women’s Global Issues (S/GWI) as a delegate of the U.S. Women’s Pillar, presented on women’s entrepreneurship, and a speaker and mentor at the U.S.-China Women’s Leadership Exchange and Dialogue (WE-LEAD) in partnership with Goldman Sachs’ 10,000 Women Initiative.
During the Working Session with the All-China Women’s Federation 中华全国妇女联合会she reported on the state of women’s entrepreneurship in the United States and potential impact and the importance of collaborations between the U.S. and China in the private and public sectors:
“The presence of American companies in China will play an important role in empowering women and girls in both entrepreneurship and anti-domestic violence issues in both countries. Strategically looking for global ecosystems that can support high-impact work by fine tuning strategies across several cross-functional industries and sectors to solidify foundations and stakeholders in a company’s growth as well as GDP.
Venture funds now look for women entrepreneurs and diversity. After studies from the International Monetary Fund (IMF) and McKinsey Global Institute report, we know that advancing gender equality and the advancement of women can increase the annual global GDP by $12 trillion, or 11% by 2025. The public, private, and social sectors need to act together to close the gender gaps. In a full potential scenario where women play an identical role in labor markets to that of men, as much as $28 trillion or 26 percent could be added to global annual GDP by 2025. In China alone, the figure is even greater at 12% increase by 2025 or $2.5 trillion than any other country. Startups with at least one woman co-founder outperform all-male teams. In some VCs, that could mean as much as 62% in better performance and investor returns.
We need to support multi-lateral and multi-national organizations that require private-public sector partnerships, strength regional norms and intellectual property rights, cooperation on human rights, domestic violence, and gender equality.
The potential for innovation in China is tremendous. Global entrepreneurs who are starting businesses must have a China strategy if they want to obtain scaleable global growth. Currently, China’s long-term market potential is ripely positioned to have greater impact in global GDP growth than other parts of the world and can learn from the mistakes of the West an innovate with great scale. Such examples include the realm of Fintech and mobile payments, agricultural business innovations, and the potential to leapfrog growth in these areas.
As global business and industry leaders are advocating the support of women, I want to emphasize the importance that as women, we have a wonderful opportunity for continued collaboration, dialogue, and communications that can have higher impact for female entrepreneurs beyond the support of mentorship of businesses and the borders of both countries.” – Cindy Chin, CEO CLC Advisors, LLC