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Ming Hsieh
Chairman & Chief Executive Officer, FULGENT GENETICS INC

Remarks by Secretary Elaine Chao and Honoree Ming Hsieh: 2021 NCUSCR Gala Dinner

🎥 Nov 09, 2021 📺 National Committee on U.S.-China Relations ⏱ 21m 👁 4605 views
Former Transportation Secretary and Labor Secretary Elaine L. Chao and Gala honoree Ming Hsieh make remarks on the occasion of the 2021 NCUSCR Gala. On November 9, 2021, the National Committee on U.S.-China Relations held its black-tie Gala Dinner at The Plaza New York. Members and friends gathered to celebrate the over $2.6 million raised to support the National Committee’s mission and work. This year’s esteemed honoree was Ming Hsieh, chairman, president, and chief executive officer of Fulgent Genetics, Inc., and a board member of the National Committee. More about Ming Hsieh and the Gal...
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About Ming Hsieh

Ming Hsieh, chairman and chief executive officer of Fulgent Genetics, spoke at a December 2024 event at the University of Southern California about his career and the company's growth. He said that when the COVID-19 pandemic began, Fulgent quickly shifted its capabilities to COVID-19 testing and became one of the top three companies in that market, generating more than $1.5 billion in cash from operations that he stated would be used to support cancer research. Hsieh also discussed his earlier work in biometrics, noting that a fingerprint identification system his company developed received a sole-source contract valued at about $500 million from the Department of Homeland Security. In a 2021 speech at the National Committee on U.S.-China Relations gala, Hsieh said he was a beneficiary of stable and collaborative U.S.-China relations, which he stated allowed him to change from a field farmer to a member of the National Academy of Engineering. He has also spoken about his philanthropic efforts, saying he has donated more than $100 million to support research, educational, and medical institutions. During a 2021 earnings call, Hsieh said the company expected revenue to nearly double in 2021 compared to the record revenue achieved in 2020.

Source: AI-verified profile updated from Ming Hsieh's recent appearances. Browse all interviews →

Transcript (3 segments)
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Secretary Lou0:04
Secretary Chao is the first Asian-American woman to serve in a president's cabinet. From 2017 to 2021, she served as Secretary of Transportation. Previously, from 2001 to 2009, she served as Secretary of Labor, during which time she participated in the U.S.-China Strategic Economic Dialogue and led the U.S. delegation to the closing ceremony of the Beijing Olympics. Secretary Chao has also served in various other positions in public, private, and nonprofit sectors, including as President and CEO of United Way, Director of the Peace Corps, Chair of the Federal Maritime Commission, Deputy Transportation Secretary, and as a banker with Citibank and Bank of America. Like tonight's honoree, Secretary Chao is also an immigrant to this nation, arriving in the U.S. from Taipei at age eight before earning her B.A. from Mount Holyoke College and her MBA from Harvard Business School. Please join me in welcoming Secretary Chao.
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Elaine Chao1:15
Thank you, Secretary Lou, for that overly generous introduction. It's wonderful to be here with all of you in person as well. Thank you for inviting me to share a few thoughts this evening in advance of my introduction of our honoree. For 55 years, the National Committee on U.S.-China Relations has played an important role in encouraging better understanding between the people of China and the United States. You have promoted open dialogue between the two countries with a goal of enhancing mutual understanding and promoting a stable, productive relationship. Today, the U.S.-China relationship is in one of its most sensitive and challenging stages since 1979. In the U.S., liberal and conservative policymakers from both political parties are unusually aligned in criticizing China. In addition, most reporting on China in the American media are negative or suspicious in tone. Against this backdrop, I would like to urge and encourage all of us to remain vigilant. We must ensure that the difficult relations between our two countries do not turn into anti-Asian hate or negative sentiments or violence that harm the Asian-American community. And that's why I'm so glad to see the formation of new organizations established to give voice to Asian-American concerns. And I want to in particular call out Mr. Ponzal, who has participated in the founding of the Asian-American Foundation. American ideals are what draws the rest of the world to our shores, and it is incumbent upon all of us to ensure that those dreams and ideals remain. And now it's my great pleasure to introduce Ming Hsieh, of whom you've heard so much about. He exemplifies all the traits that have enabled Americans of Chinese ancestry to contribute so much to our country. As you know and have heard, Ming Hsieh is renowned as a gifted innovator, highly successful entrepreneur, and a very generous philanthropist. You may not know the rest of his journey, so let me share that with you. Ming came to the United States with the hope of contributing to society by building upon the achievements of his father, a professor and scientist at the China Electric Power Research Institute. Ming started out in 1981 as a junior transfer student to the University of Southern California from the South China University of Technology. He earned a Bachelor of Science in Electrical Engineering and a master's degree from USC. But like so many immigrants, his new life in America brought many personal and professional challenges, including a significant language barrier and major cultural adjustments. And he also had to work multiple jobs to pay for his tuition and living expenses. But he persevered and thrived on these challenges, which helped to make him into the success that he is today. Because Ming founded Cogent Systems, which under his direction became a global leader in providing biometric identification systems for law enforcement and government agencies. He went on to found Fulgent Genetics, which became a leading cancer genetic diagnostic company. And it goes without saying that both these companies have made significant contributions to our country in the security and healthcare sectors. Now, always looking for new ways to make a difference, Ming has recently overseen Fulgent's rapid pivot to creating testing and vaccination solutions to help combat COVID-19. And he's also worked with CDC to track and disseminate information to combat variants as well. Ming's achievements in science and engineering have not gone unnoticed by leaders in the industry. He was elected to the U.S. National Academy of Engineers, one of the highest professional honors in engineering. He was also named a Fellow of the National Academy of Inventors for his innovation in biometric identification technology. And during his service at the National Academy of Engineering, Ming has worked to promote global collaboration between the U.S. National Academy of Engineering, the China National Academy of Engineering, and the UK Royal Academy of Engineering. Ming was also the recipient of the Ellis Island Medal of Honor, and his personal story has been archived at the National Museum of American History. As his innovations attest, Ming is passionate about improving the lives of others, not only by creating new solutions and opportunity, but through his extensive philanthropic efforts as well. He has donated more than a hundred million dollars to support research, educational, and medical institutions that promote scientific advancement, fight cancer, and support global engineering collaborations. His generosity, along with Dr. Henry Kissinger and Rupert Murdoch, enabled the Nixon Library's China Pavilion to tell the story of the week that changed the world. For all these achievements, especially his seminal contributions to science, engineering, healthcare, and philanthropy, it is my great pleasure to introduce tonight's honoree, Ming Hsieh.
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Ming Hsieh9:09
So many thanks to Secretary Chao for such a very kind and very generous introduction. Dear esteemed guests, Ambassador Qin Gang, and the Ambassador Congress, Secretary Jack Lew, and Governor Gary Locke, and all the colleagues and friends at the National Committee on U.S.-China Relations, to all the sponsors and friends, thank you for joining us tonight. I'm very humbled and honored to be here today to receive this award, and would like to thank the National Committee on U.S.-China Relations for their recognition and support. I want to also thank Dr. Kissinger for his heartwarming messages. As an immigrant and as a colleague, I was born in Shenyang, a northwestern industrial city in China. My father was a research scientist, and my mother was a high school literature teacher. I had a very happy and cheerful childhood until the beginning of the Cultural Revolution in 1966. Like most intellectuals during the Cultural Revolution, our family was sent to a remote village to do farm work in Panjin County, Liaoning Province, for so-called re-education. In 1970, in the village, there was no paved road, no electricity, no fresh water, and even worse, there was no school. Effectively, my formal education ended before I started middle school. Instead, I had to do heavy manual labor in the fields, pulling weeds, plowing fields, shoveling manure from sunrise to sunset in a tough environment. However, I was lucky since my parents were both educators. They ensured I was getting an education from whatever resources they had. During the off-season, my father created handwritten textbooks and taught me physics, mathematics, and electronics in an applied manner. I became his assistant in putting up wires, cutting poles, and setting up transformers. Through his ingenuity, we successfully brought electricity into our village. My father inspired my interest in engineering, science, and more importantly, my drive for community service through solving problems. I dreamed that one day I could study in university and become an electrical engineer like my father. But as a farmer in a rural village, all that seemed like a very remote fantasy. I had a vivid memory on a special day in 1971. I was working in the field and heard an announcement from a loudspeaker that Dr. Kissinger made a historical trip to Beijing and arranged President Nixon's first visit to China. I didn't know how that visit could impact my personal life during that time, but I sensed something very important: change will be happening in China. I wish Dr. Kissinger's tonight's video could be delivered in advance 50 years ago, which would be a powerful recommendation for my reference for college admissions. So that trip began the normalization of China and U.S. relationships and accelerated China's reform, with the subsequent establishment of the national college entrance exam system in China. I became one of the first group of students to enter university since the Cultural Revolution, so we call that now the class of 1977. Three years later, I was able to transfer to the renowned University of Southern California and begin my American dream. I was very grateful that the stable and collaborative U.S.-China relations allowed me to change from a field farmer to a member of the National Academy of Engineering and Science. I am a beneficiary of these relationships. To prepare for tonight's gala, I had a talk with Dr. Kissinger. I told him about this story, and he was very calm and did not answer immediately. And he told me, 'I know many farmers in the 70s.' So I paused a little bit and started to count: the current Foreign Minister Wang Yi was a farmer, the West Pioneer Liu He was a farmer, Premier Li Keqiang was a farmer, and President Xi Jinping was also a farmer. To extend more, President Jimmy Carter was also a farmer. But there is a fundamental difference: the definition of a farmer in China—you had to really work. So yes, since the ice-breaking bilateral leadership in 1971, China and the U.S. have worked together and brought tangible benefits not only to myself but to hundreds of millions of people in both countries and the world through globalization. I'm incredibly grateful for the opportunity and success that my immigration from China to the U.S. has afforded me. But I will never forget my origin and remain grateful to China for instilling my science and engineering enlightenment. To me, the best way to honor and give back to the country that nurtured me and also the country that provided me with the opportunity to strive is through supporting education and the preservation of heritage. I'm very much looking forward to continuing to work with the National Committee on U.S.-China Relations to achieve our missions. I would also like at this time, using this opportunity, to thank Secretary Chao again. She has dedicated her life to public service and also has generously mentored me for many years and introduced me to this committee and to the Asia Society and also to the Committee of 100. And today we also have, as you mentioned, Governor Gary Locke, who is the Committee of 100's current chairman. I don't know where our chairman is. So for all these organizations I'm involved with, it's all in one common goal: promoting open dialogue between the two countries with the goal of enhancing mutual understanding and promoting stable, constructive relationships between our two countries. So after this gala, we have a lot of work to do. So many thanks, this is a great honor, and many thanks for all your support tonight. Thank you very much.