FOR IMMEDIATE RELEASE
New York, New York
May 23, 2005

Partnership Undertakes Trade Mission to China

Partnership Co-Chair Charles Prince (above) and former Partnership Chair Richard Parsons (below) meet with Chinese executives at the recent Fortune Global Business Forum in Beijing.

New York City is clearly the frontrunner as the destination “Western Headquarters” city for Chinese companies that are entering global markets, says Kathryn Wylde, President and CEO of the Partnership for New York City. Wylde was in Beijing in late May, along with Andrew Alper, president of the New York City Economic Development Corporation, for the Fortune Global Business Forum. New York business leaders, led by Richard Parsons, Chairman & CEO of Time Warner Inc., and the Partnership’s Co-Chair, Charles Prince, CEO of Citigroup Inc., dominated the American business presence and the meetings, says Ms. Wylde. A Chinese development group has retained Jones Lang LaSalle to help determine the feasibility of establishing an office center in Lower Manhattan.

The Partnership for New York City (www.pfnyc.org) is a network of business leaders dedicated to enhancing the economy of the five boroughs of New York City and maintaining the city’s position as the global center of commerce, culture and innovation.