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Chinese investors diversify investment in LA, US delegates say
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CHINESE investors in Los Angeles are increasingly diversifying their investment from real estate to manufacturing and high technology sectors, boosting business outlook of small companies, representatives from the city said yesterday.
Noor Menai, president and CEO of US-based CTBC Bank, said a high percentage of Chinese investors now are committed to high technology sectors such as motherboard, storage devices, and cloud computing.
“More and more Chinese investors are coming to the US, and their interest has extended from real estate to cover entertainment, processing, construction, and commodities,” Menai said.
The bank mainly serves US businesses with Chinese links and individuals of Chinese ethnicity.
Its survey released in September found nearly 60 percent of small and medium-sized businesses in Southern California expect revenue to expand in 2015 from this year and 90 percent said they expect long-term investment to increase or stay the same.
Mary Leslie, president of Los Angeles Business Council, said she expected China and the US commitment in developing clean energy will boost demands equipment such as solar panels, creating more investment opportunities.
China’s President Xi Jinping and US President Barack Obama last week vowed to cut emission as the US said it will reduce emission levels by from 26 to 28 percent below 2005 levels by the year 2025, and China expects its greenhouse gas emissions to have peaked by the end of the next decade.
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