Call for fairer look at Chinese FDI in US
By Wang Yanlin |
June 29, 2010, Tuesday
|
Print Edition
Print Edition
THE American Chamber of Commerce in Shanghai has said the United States authorities should depoliticize their regulatory process when reviewing investment deals as one way to boost Chinese outbound foreign direct investments in the US, according to a latest AmCham Shanghai report.
"Chinese investors are increasingly concerned that their investments may be hampered by US national security restrictions and may serve to drive much needed investment to Canada, Mexico and other countries," said the chamber's report on Chinese FDI in the US: Causes, Case Studies and the Future.
The AmCham Shanghai said the US federal, state and local governments should make efforts to depoliticize the regulatory process to attract more Chinese FDI.
The report also recommended the US authorities support the US-China bilateral investment treaty talks.
The treaty is regarded as crucial to boosting confidence in cross-border investments and has the potential to increase trade volume, especially during the signing and implementation stage, the report said.
The chamber also suggested the hiring of Chinese-speaking staff to bridge the gap between different cultural business practices.
"Hire Chinese proficient staff members at relevant governmental and quasi-governmental bodies to guide investments through the right channels," the report said. "Understand who the investors are, the concerns of the community and how to narrow the business gap."
The chamber said Chinese outbound FDI in the US has created new American jobs, maintained existing ones, provided important new sources of capital, developed infrastructure and ultimately served to strengthen US-China commercial ties.
It was estimated China's outbound FDI in the US more than tripled from the 2008 level to between US$3.9 billion and US$6.4 billion last year, the report said.
"As the US recovers from the toughest economic downturn since the Great Depression, China has emerged as an increasingly important investor in the US economy," the report noted.
US Commerce Secretary Gary Locke led a group of high-tech and clean energy firms to China last month to attract Chinese investments.
"Chinese investors are increasingly concerned that their investments may be hampered by US national security restrictions and may serve to drive much needed investment to Canada, Mexico and other countries," said the chamber's report on Chinese FDI in the US: Causes, Case Studies and the Future.
The AmCham Shanghai said the US federal, state and local governments should make efforts to depoliticize the regulatory process to attract more Chinese FDI.
The report also recommended the US authorities support the US-China bilateral investment treaty talks.
The treaty is regarded as crucial to boosting confidence in cross-border investments and has the potential to increase trade volume, especially during the signing and implementation stage, the report said.
The chamber also suggested the hiring of Chinese-speaking staff to bridge the gap between different cultural business practices.
"Hire Chinese proficient staff members at relevant governmental and quasi-governmental bodies to guide investments through the right channels," the report said. "Understand who the investors are, the concerns of the community and how to narrow the business gap."
The chamber said Chinese outbound FDI in the US has created new American jobs, maintained existing ones, provided important new sources of capital, developed infrastructure and ultimately served to strengthen US-China commercial ties.
It was estimated China's outbound FDI in the US more than tripled from the 2008 level to between US$3.9 billion and US$6.4 billion last year, the report said.
"As the US recovers from the toughest economic downturn since the Great Depression, China has emerged as an increasingly important investor in the US economy," the report noted.
US Commerce Secretary Gary Locke led a group of high-tech and clean energy firms to China last month to attract Chinese investments.
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