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China eyes higher-quality projects
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CHINA aims to increase investment in higher-quality projects such as energy, environmental protection, infrastructure and urbanization in the United States, senior officials said yesterday at a forum in Shanghai.
“Both countries desire more bilateral investment,” Zhao Qizheng, director of the Foreign Affairs Committee of the 11th National Committee of the Chinese People’s Political Consultative Conference, said at the “Invest USA Dialogue” forum.
“The desire of Chinese companies to invest in the US has been growing stronger in recent years,” Zhao said at the forum held as part of events to mark the 35th anniversary of diplomatic relations between the two countries.
Hanscom Smith, the new US consul general in Shanghai who made his first official public appearance in the city yesterday, said foreign investors will find the US a competitive economy due to its “openness.”
“It is important to stress we welcome Chinese investment,” Smith said.
“There are some misconceptions we need to correct ... and the unsuccessful investment attempts due to factors such as national security account for a tiny percentage,” Smith said.
Since 1985, China’s outbound investment in the US has accumulated to over US$30 billion. In 2013, Chinese companies invested US$4.2 billion in the US, up 125 percent from a year earlier, according to the data from the Ministry of Commerce.
But China still trails Japan, Mexico, Brazil, Singapore and India in terms of the value of investment in the US, Assistant Minister of Foreign Affairs Liu Jianchao said.
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