With the rise of China's economic wealth and the expedient flow of global capital, Chinese investors are provided with many investment options with their capital. The US investment immigration program is popular among Chinese investors for its simplicity in application, and the intrinsic value it brings, but most of all, because it offers a better education platform and greater future development for their children. On November 11, Ms. Muriel Bowser, the first African-American female mayor in Washington D.C.'s history came to Shanghai and introduced the current investment environment and opportunities to the visiting guests.
The distinguished guest list of the Invest DC Forum included the deputy mayor of Washington D.C. Brian T. Kenner, the U.S. Consulate in Shanghai, Representatives of Washington D.C. entrepreneurs, EB-5 program investors, the Ex-Chairman of the American Bar Association EB-5 Committee, Mr. David Morris and other honored guests from the industry. They came to the Forum, hoping to introduce investment projects and convey the welcome attitude of the Washington D.C. Government to all Chinese investors.
According to recent reports, in the 2014 U.S. fiscal year, a total of 10,692 EB-5 visas were issued, of which investors from China claimed 9,128, representing 85% of the total. Since September of this year, the expiration of the EB-5 Act has suppressed some of the investors' enthusiasm while the industry was awaiting the uncertain outcome of the new requirements. Although the possible changes to the Act were postponed to the interim of December 11, it provided a small time period for some investors to take advantage, but many prudent investors were indecisive, and remained idle waiting for the final outcome. The largest concern for many of the investors is if Chinese investors are no longer welcomed by the U.S. Government. Chinese investors are also concerned about future policy changes that might affect them from getting permanent green card status, and retrieving their investment funds, even when they were originally I-526 approved.
Ms. Muriel Bowser came to the Forum this time hoping to convey the attitude of the Washington D.C. Government to all Chinese investors, saying, "We welcome all Chinese investors who are willing to contribute to the development of Washington D.C., and we sincerely hope that we can create a brighter future together."
Afterwards, Ms. Bowser gave a detailed introduction of the economy, employment and environment of Washington D.C. in recent years, as well as the Government's plan and expectation of its future development. When speaking of EB-5 investment, which has brought positive energy into the whole city, Ms. Bowser enthusiastically praised the Act, announcing the program has benefited many parties. She also stated that for the smooth progression of the Washington D.C. EB-5 program, the Washington D.C. Government has always been giving its upmost support. Whether the investment funds in the future will rise or not, or the approval standard of USCIS might be tightened or not, the support of the Washington D.C. Government to the EB-5 program will continue without change.
The Mayor's short but enthusiastic speech left a very favorable impression on the Chinese investors of her and her city, most notably from the clients of Wailian's Washington D.C. EB-5 program. The report made by the principal of Washington Regional Center on the new progress of several EB-5 programs enhanced the confidence of the Chinese investors and the details of the report provided them a vivid picture of what their lives and future would be like in Washington D.C.
Finally, Ms. Bowser, together with Mr. David Morris, awarded the Medal of Honor to Ms. Linda He, President of Wailian Overseas Consulting Group, who has worked actively in promoting EB-5 programs in China, and Mr. Morris also spoke very highly of the unremitting effort of Wailian in raising the professional standard of the industry in China.
Wailian Overseas Consulting Group, China's leading investment immigration company, was the only Chinese immigration organization invited to the forum. Ms. Linda He, Chairperson of Wailian Overseas Consulting Group, in her acceptance speech said, "Wailian Overseas Consulting Group possesses in-depth overseas investment experience and knowledge. To date, we have a track record of 70 successful U.S. EB-5 projects, resulting in tens of billions in investment funds, and creating hundreds of thousands of jobs to stimulate the local economy, all while holding the fastest USCIS approval time of three days." Ms. Muriel Bowser replied, "You can do more!" and then thanked Wailian Overseas Consulting Group for the Chinese-American economic contributions, and stated she will provide more economic policies to support the economic and trade collaboration between the two countries.