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