Investment from China creates jobs in America: US trade group
Xinhua 2013-01-24 16:39
The US-China Cities Forum on Economic Cooperation and Investment held in Nanjing in June 2012. (File photo/Xinhua)
Chinese companies are increasingly choosing the US market as the new market for their operations, which means new jobs for Americans, said a US trade group on Wednesday in a report.
The US-China Business Council said in a report titled "China and the US Economy: Advancing a Winning Trade Agenda" that Chinese investment is a crucial part of the US economy, but now it is low compared with investments from other foreign companies.
According to Rhodium Group, Chinese companies invested US$6.5 billion in America in 2012. By comparison, British companies invested US$442 billion in 2011, German companies invested almost US$216 billion and Dutch companies invested over US$240 billion, the US government data indicated.
The US leading trade association for American companies doing business with China recommended in an action plan that the US side should set clearer and more transparent guidelines for national security concerns related to Chinese investment in the United States, to de-politicize the investment review process and reduce uncertainty for Chinese investors.
The council of roughly 240 American companies highly emphasized US-China relationship and defined it as a global strategic issue for the United States.
The report also suggested that US politicians move on to issues that do matter rather than focus on the currency issue. "Some lawmakers on Capitol Hill have made China's currency value the sole focus of attention, despite the fact that it has appreciated more than 30% against the US dollar since 2005," said council president John Frisbie.
The report, which addresses 10 topics to help Americans better understand China, came as a tool to advance common sense and to debunk many myths and conventional wisdom that typically shape the understanding of the US-China commercial relationship.
