Chinese investment in the
United States is likely to double soon thanks to lower costs and more local incentives.
Steven Olson, executive director of SelectUSA, analysize that "Although the current stock of Chinese investments in the US only adds up to $6 billion, we see the potential for a significant increase in that amount. China is the fastest growing source of foreign investment in the US. The country's direct investment in the US grew at an average annual rate of 53 percent from 2005 to 2010."
According to the Ministry of Commerce, China was the fifth-largest investor globally in 2010, with outbound direct investment of $68.8 billion. But growth in investment in the US, at 44 percent, was much slower than that in Europe (101 percent) or Japan (302 percent).Finance Minister Xie Xuren said on Saturday that cooperation between China and the US at the local level has become a key driving force of bilateral economic ties.
The Chinese government wants to develop industries with comparative advantages, while the US government hopes to expand its exports and revitalize the manufacturing industry, which allows much room for bilateral cooperation, Xie said.
According to Olson, Chinese investors are involved in many sectors in the US, including green energy, electronics, communications, industrial machinery, software and IT services, as well as business and financial services.
The US real estate sector has also received a significant contribution from Chinese investors as China maintains tightening measures on its domestic housing market. Chinese buyers have spent $9 billion on properties in the US, accounting for 11 percent of the total foreign spending - only second to Canadians, who have spent $19.8 billion, according to the US National Association of Realtors.
Although he insisted there isn't any difference in policies regarding ownership, Olson said the US welcomes more small- and medium-sized enterprises as well as entrepreneurial investors from the world's second-largest economy.
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