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Thursday, October 1st, 2020

Chinese investment in U.S. triples in 2016: report

by April 26, 2017 General

NEW YORK, April 25 (Xinhua) — Chinese direct investment in the United States tripled in 2016 with Chinese companies employing more than 140,000 Americans, according to a report released on Tuesday.

Already on a steep growth trajectory for the past five years, Chinese investment in the United States jumped to 46 billion U.S. dollars last year, a 200-percent increase from the previous record of 15 billion dollars set in 2015, according to the report published by the National Committee on U.S.-China Relations and Rhodium Group, a New York-based economic research firm.

“As an observer and participant in the early wave of U.S. investments in China, I saw firsthand the power of well deployed capital to revitalize communities and change lives,” Stephen Orlins, president of the National Committee on U.S.-China Relations, wrote in the report.

“Today I am watching a similar story begins to unfold with Chinese investment in the U.S.,” Orlins added.

By the end of last year, about 3,200 Chinese-owned companies operated in the United States across 98 percent congressional districts and employed more than 140,000 Americans, more than nine times higher than 2009, the report said.

The report pointed out that the increasing number of American workers hired by Chinese companies echoes U.S. President Donald Trump’s campaign promise to create more jobs in the country.

“The data overwhelmingly suggests that Chinese investment in the United States is complementary to the current administration’s focus on creating and protecting American jobs,” said Orlins.

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