The Fed also granted approval to Agricultural Bank of China Ltd. to build a branch in New York City, and to Bank of China Ltd. to build a branch in Chicago.
This year Ogilvy became the first ad agency to launch a China Practice in New York to serve the growing need for communications services by China-based companies as they move into international markets.
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"These cases are many, and the business world should be troubled by them, " says Jerome Cohen, a New York University professor who specializes in China's legal system.
In 2008 CMB became the first bank to obtain a license to operate in New York since Bank of China entered the market in 1981.
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Brands management, at its recent analyst day in New York, pegged the estimated effect of the avian flu scare in China at a 20% sales decline over the next six weeks.
After being served with a grand jury subpoena to appear in New Jersey, Wei left Miami for New York en route to China.
Upstate New York companies and government agencies are already facing tough competition from China, a leader in the development of the clean energy sector.
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Peter Marcus, a steel-industry veteran and managing partner of World Steel Dynamics in New York, says that by 2010 China will have capacity for steel products some 63m tonnes ahead of forecast domestic demand.
Kathryn Bonanno-Patrizzi, a 45-year-old wholesale jeweler in New York, collects art deco timepieces, including some from Japan and China.
She married an American she met as a student of graphic design at the China Academy of Art in Hangzhou, and they were off to New York.
Stocks benefited from better-than-expected economic data in China, a strong reading on German economic sentiment and an improvement in a gauge of New York manufacturing activity.
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