|Deputy Consul General Yu Peng Attended Wisconsin's 2nd International American Ginseng Festival|
On September 14th, Deputy Consul General Yu Peng attended the opening ceremony of Wisconsin’s 2nd International American Ginseng Festival in Wausau, Wisconsin. Lieutenant Governor Rebecca Kleefisch, President Robert Kaldunski of the American Ginseng Board and dozens of representatives of exhibiting companies and manufacturers were among the 100 or so guests in attendance.
Deputy Consul General Yu Peng said in his speech that American ginseng has long been a major cash crop in Wisconsin. Wisconsin’s American ginseng now accounts for 95% of total US output, 70% of which is sold to China. It is thus an important trade commodity between the two countries. The cultivation, processing and trade of American ginseng has supported thousands of jobs in Wisconsin and other places. In recent years, it has also attracted investment from Chinese companies such as Tongrentang, and served as an important link between China and Wisconsin. Unfortunately, the export of American ginseng has recently been affected by China-US trade frictions, which caused a substantial amount of damage to the local economy. The trade war does harm to both countries, and in the end, nobody wins. We promote trade and oppose trade wars. We promote cooperation and oppose isolationism and protectionism. These sentiments are shared by American ginseng producers and consumers alike.
Deputy Consul General Yu Peng continued that American ginseng is highly regarded by Chinese traditional medicine for its healing properties. On top of that, ginseng possesses legendary importance in Chinese traditional culture. As such, it is a sought-after product in China. This is Wisconsin’s second year hosting the International American Ginseng Festival, its aim being to use American ginseng as an important cultural and tourism resource to attract Chinese businessmen and tourists from all over the world. Ultimately, this will further promote economic development and cultural exchanges between China and Wisconsin.
During the American Ginseng Festival, Deputy Consul General Yu Peng also attended the opening ceremony of the “Heavenly Rendezvous of Ginseng and Ink” Chinese Calendar Painting exhibition as well as the Tongrentang American Company's second-phase project. He also paid visits to Hsu Ginseng, Marathon Ginseng Garden and other companies.