China is a big deal for American businesses. As it stands, the US-China Business Council estimates that China is about a $350 billion market for US-based firms, with room to grow.
So naturally, it’s a big deal that Ford Motor Company CEO Mark Fields was just recently elected Chairman of the previously mentioned US-China Business Council, according to the Detroit Free Press.
The USCBC is a non-profit organization representing some 210 US businesses with a presence in the Chinese marketplace. Other notable members include executives from Disney, PepsiCo., Coca-Cola, Wal-Mart, and Exxon Mobil.
The announcement that Mark Fields had been elected as the group’s Chairman just came yesterday, and in a release, the Ford CEO said this:
“Since 1973, the U.S.-China Business Council has been a leader in building commercial relations with China. More and more American companies are selling a wide array of goods and services in China.
“I look forward to serving as chair of this important organization as we work with government and business leaders in both nations to strengthen commercial ties and maximize growth opportunities.”
Mark Fields has already done a number of things to expand Ford Motor Company’s efforts in China. That includes introducing Ford’s luxury Lincoln brand there last year, and ramping up local manufacturing within the country.