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Columbia, S.C. -  Gov. Mark Sanford and Sec. Joe Taylor today welcomed Wang Chao, Assistant Sec. of the Ministry of Commerce of the People’s Republic of China, and a Chinese delegation to South Carolina. The Department of Commerce hosted a trade and investment forum today in Greenville at the Global Trade Park where Gov. Sanford and dignitaries with China’s Ministry of Commerce signed the first ever Memorandum of Understanding (MOU) between the Chinese government and the state of South Carolina. Today’s signing ceremony also included the signing of two purchase contracts between the Chinese Ministry of Railways and Harsco Track Technologies, a West Columbia based company.

“Today’s announcement is further evidence that we are not only engaged in the global economy, but we are also taking advantage of the opportunities it presents. From day one, this administration has been committed to improving the state’s economic soil conditions for business growth. This agreement is a step to that end. Our efforts to cultivate a relationship with the Chinese government will have a lasting impact on our state in terms of job creation, foreign direct investment, and export opportunities for South Carolina businesses,” said Gov. Mark Sanford.

The Memorandum of Understanding between China and South Carolina reaffirms the existing relationship between China and South Carolina, establishes and designates South Carolina to be a preferred U.S. location for Chinese businesses to operate, and identifies areas for enhanced cooperation between the two. This includes:

Information Exchange and Potential Investor Referral– China and South Carolina will jointly provide information regarding investment policies and opportunities.

Investment Promotion Activities – Investment missions and trade fairs, as well as online promotional activities, will be shared and/or organized between China and South Carolina.

Key Industry Sector Priorities – China and South Carolina will work to identify key industry sectors in their respective areas and provide the relevant information for investment opportunities.

Also today, the Chinese Ministry of Railways signed contracts with Harsco Track Technologies, a major global supplier of railway track maintenance equipment and services in West Columbia, S.C. The Department of Commerce assisted in the development and finalization of the contracts. Gov. Sanford and Sec. Taylor served as official witnesses to the signing of the purchase agreements. The combined contracts mark Harsco Track Technologies’ largest railway track maintenance equipment sales contracts in division history. This combination of two orders from the Chinese Ministry of Railways is expected to generate more than $350 million in new revenue over the next four years. The company anticipates the creation of new jobs at its West Columbia facility to accommodate the contracts.

Since taking office in 2003, Gov. Sanford has made two official visits to China and opened the state’s first office in China operated under the Department of Commerce.

China was South Carolina’s most impressive export growth market in 2006. Exports to China rose 12.5% to more than $869 million and jumped one notch to become the state’s fourth largest export destination. The state’s exports to China rapidly approach the $1 billion mark, proving that China is a significant consumer of South Carolina products with strong purchasing power for continued growth. China’s top purchases include: machinery, cotton yarn and fabric, plastics, chemicals, and aluminum.