Li Wenfang

China Daily (Canada) - - FRONT PAGE -

Adel­e­ga­tion of eco­nomic devel­op­ment or­ga­ni­za­tions rep­re­sent­ing 12 US states staged a road show larger and longer than its first held last year in China, a sign in­di­cat­ing ro­bust Chi­nese in­vest­ment in the United States.

The Selec­tUSA road show, which ran from May 18 to 29, took the del­e­ga­tion to Hong Kong, Shen­zhen, Dong­guan, Guangzhou, Shang­hai, Hangzhou, Dalian and Shenyang, in south­ern, eastern and north­east­ern China.

“That tells me that US-China trade is thriv­ing, which is good news for both the United States and China,” said Jen­nifer Zim­dahl Galt, US con­sul gen­eral in Guangzhou. “Chi­nese in­vest­ment is the fastest-grow­ing source of for­eign di­rect in­vest­ment into the United States, and the Pearl River Delta re­gion ac­counts for more Chi­nese FDI into the United States than any other re­gion.”

Arun Ku­mar, as­sis­tant sec­re­tary for global mar­kets with the US Depart­ment of Com­merce, said: “Di­rect in­vest­ment from China and the Pearl River Delta re­gion is be­com­ing an es­sen­tial part of our mu­tual eco­nomic story and we are ex­cited by the growth in this trend.”

China has be­come one of the fastest grow­ing sources of for­eign di­rect in­vest­ment and the US has be­come the third- largest des­ti­na­tion for Chi­nese di­rect in­vest­ment, with $38.5 bil­lion al­ready moved from China to the US by the end of last year, said Luo Weifeng, vice-mayor of Guangzhou.

Busi­nesses in Guangzhou had in­vested $380 mil­lion in 94 com­pa­nies in the US by the end of last year.

“The gov­ern­ment of Guangzhou en­cour­ages in­vest­ment into the United States,” Luo said, pledg­ing sup­port.

South Carolina has re­ceived more di­rect in­vest­ment from China in the man­u­fac­tur­ing sec­tor than any other state, said John Ling, man­ag­ing direc­tor for China global busi­ness devel­op­ment of the state’s Depart­ment

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