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For the first time since 1982, Michigan has set up an agreement with a Chinese province.
Governor Rick Snyder Wednesday signed a memo of understanding with Chinese government officials that will establish the Michigan-Shenzhen Trade, Investment and Innovation Cooperation Center.
Tom Watkins, an expert on the Chinese economy, believes Snyder has done an excellent job in laying a foundation for Chinese investments in Michigan.
Watkins says working with China cannot be an overnight success.
The Governor says the new agreements will help increase foreign direct investment from Chinese businesses and investors.
In addition, the state is spending five million dollars to set up a non-profit that will boost investment in the state from Chinese companies.
