2010-08-27 15:08

LOS ANGELES - The 2010 US-China Real Estate Summit kicked off Thursday in San Gabriel, Los Angeles with the aim of building relations between top real estate players in the two countries.

During the two-day summit, officials from all levels of both countries and experts in real estate-related areas will discuss US economy stimulus, "green" low-carbon housing construction and ways to conduct real estate deals on both sides.

Led by China's Real Estate Chamber of Commerce, more than 150 industry leaders from China are attending the summit, entitled " Real Estate Without Borders".

Representatives from the US side include Ed Roski, CEO/ Chairman of Majestic Realty, Henry Cisneros, former Secretary of Housing and Urban Development and current Execitive Chariman of CityView, and John Picard, founder of Picard Consulting.

Speaking at the opening session, US Congresswoman Judy Chu said great potentials remain to be tapped to promote cooperation between the United States and China in all fields, including the real estate.

She said the two countries need to join hands in addressing the real estate problems facing them.

These problems cannot be resolved by one side alone, she stressed.

Albert Huang, Mayor of San Gabriel, said the summit offered a good opportunity for promoting bilateral cooperation in the real estate.

"For the first time, this summit brings industry leaders from the two largest economies in the world to discusss collaborations in real estate development and investment," said Huang, who hosted the summit. "It will undoubtedly assist economic development and job growth in our communities during this challenging economic environment."

On the sidelines of the summit, guests from China will join dozens of scholars and experts of real estate business and architecture at a roundtable discussion at University of Southern California on Friday.