Companies from China and the U.S. on Saturday signed total of $3.4 billion worth of bilateral investment projects, as the world's two biggest economies seek to boost trade and investment between each other.These deals is another sign that the two economies are becoming ever more intertwined and interdependent.

The two sides signed contracts on 42 bilateral investment projects at a forum held in Nanjing, ranging from manufacturing, new energy, property, logistics and entertainment.

China's finance minister Xie Xuren said at the forum that he hopes China and the U.S. can expand cooperation in sectors including energy and environmental protection, adding that both countries are restructuring their economies and pushing ahead major reforms, which provides a great potential for cooperation between local governments of the two sides.

Assistant Treasury Secretary Marisa Lago said at the same forum that the U.S. welcomes investments from all countries including China and hopes cross-border investment with China will continue to grow.

Linuo Group Co., a Jinan-based company, has agreed to invest multimillion dollars in the U.S. to develop a solar energy photovoltaic project.

State-owned firms' investments carry little risks but target only selective industries while SME's investments in the U.S. could be widespread and the U.S. government has many supportive and incentive measures for such firms.

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