Rhode Island International Group (“RIIG”) is a trade and investment consultancy dedicated to bridging the state of Rhode Island and surrounding region with promising international opportunities. Our overarching objective is to contribute to the effort to retain and grow jobs in RI.
China is our initial focus. Why China? China’s outbound M&A investment to the USA has more than doubled YOY in 2012, reaching approximately $8 billion. Two million Chinese tourists are expected to visit the US between 2011-2016, spending close to $14 billion. RI exports to China in 2011 reached $99 million. According to the US-China Business Council, RI exports to China grew 463% between 2000 and 2011, versus 88% to the Rest of World. And, according to the Wall Street Journal “Buyers from China and Hong Kong accounted for $9 billion of U.S. home sales in the 12 months ending in March 2012, up 89% from 2010, making them the second-largest group of foreign buyers of homes in the U.S. behind Canadians, according to data released earlier this month by the National Association of Realtors.” Per the VOA, as of last year a report from the Institute of International Education says more than 723,000 international students are studying at U.S. colleges and Universities. One out of five of those students are from China, far more than any other country. And their numbers are growing. In 2011, 157,558 Chinese students were attending school in the United States, a 23.5% increase over the previous year.”
RIIG will partner with key State government agencies and other entities whose goal is the economic development of our state, and the retention and creation of jobs. We seek to complement and add value in advancing common goals.
We work with RI traders seeking marketing and distribution partners and expanded sales in China. RIG will also promote RI tourism assets, and help RI clients in the tourism trade seeking increased tourism business from China.
RIIG also plans to assist RI and regional colleges and universities seeking greater brand awareness in China as part of their overall China recruiting and partnering strategy.
RIIG will serve as both an information clearinghouse that raises Chinese awareness and interest in RI trade and investment, and consultancy that performs market research and due diligence, sources business and investment opportunities, facilitates partnerships and alliances, and proactively markets and promotes the products and services of our clients to the Chinese market.