Honoring Giants: China Institute's Gala Highlights Business Leaders' Journey and Impact

On September 5, 2024, the China Institute in America hosted its annual gala in New York, honoring three business leaders for their significant contributions to their respective fields and fostering U.S.-China relations.

The recipients of this year's Blue Cloud Award include Henry Fernandez, Chairman and CEO of MSCI; Ronald Diamond, President and CEO of Conair Corporation; and Xiaodong Pang, Vice Chairman of Freepoint Commodities Trade and Chairman of Freepoint Solar.

Henry Fernandez, unable to attend due to health reasons, was represented by MSCI Executive Director Duncan Currie. Currie shared that Fernandez first visited China in the summer of 1979, with his most recent trip in June 2024. According to Fernandez, the transformation China has undergone over the past 45 years is astonishing. MSCI, a leading global provider of investment tools, generates over $2.7 billion in annual revenue and has a market capitalization exceeding $40 billion. The company also specializes in climate and sustainability data and research and established offices in Hong Kong in 2004, followed by branches in Shanghai and Beijing in 2008 and 2009, respectively.

Another awardee, Ronald Diamond, recounted his initial trip to China in the 1980s, where he felt out of place due to the lack of English speakers on the train. Nevertheless, this journey marked a pivotal phase in his life. Diamond, who has traveled to China 122 times and spent the equivalent of nearly eight years in the country, highlighted Conair's collaboration with over 100 Chinese factories. He attributes China's rise as the "world's factory" to its people's work ethic, innovation, and competitive spirit. Diamond believes China's success lies in its determination to show the world its competitiveness and excellence. He emphasized that the internet age would further deepen globalization, allowing China to sustain its position as a manufacturing hub through continuous innovation and competitiveness.

The third awardee, Xiaodong Pang, is a prominent Asian American leader in international trade, finance, and sustainability. Currently serving as Vice Chairman of Freepoint Commodities and Chairman of Freepoint Solar, Pang has held significant positions such as President of Pacific Group, Vice Chairman of RBC Capital Markets, and Managing Director at AIG. Appointed by two U.S. Presidents, he served on the White House Presidential Scholars Commission for seven years and now holds a position on the President’s Advisory Committee on the Arts. During his acceptance speech, Pang recounted his arrival in the U.S. 43 years ago with only $18 in his pocket. He called on the Chinese community to raise their voices, advocating for a more racially harmonious, prosperous, and peaceful society.

China Institute CEO James B. Heimowitz expressed his delight in honoring these distinguished individuals, acknowledging their remarkable contributions to society and cultural exchanges between the U.S. and China. "Their achievements resonate with our mission to build bridges and enhance cultural understanding between the two nations," he stated.