Xinhua, New York :
The U.S. government should open its door wider to Chinese investments and Chinese companies have to further their understanding of U.S. law and regulatory compliance as Foreign Direct Investment (FDI) between the world’s top two economies has been on a rapid rise, experts said on Thursday.
BE MORE OPEN, INCLUSIVE TO CHINESE INVESTMENT
“The U.S. government should be more open and inclusive to Chinese investments, as Chinese companies come to the U.S. with high expectations for an open and inclusive market. That is one of the major factors that makes U.S. attractive to foreign companies,” Xu Chen, chairman of China General Chamber of Commerce (CGCC) and president & CEO of Bank of China U.S.A., told Xinhua after launching a new survey on Chinese enterprises in the United States.
Over half of Chinese enterprises are concerned with U.S. regulatory oversight of foreign companies despite their growing presence in the world’s largest economy, according to CGCC’s 2017 Annual Business Survey Report on Chinese Enterprises in the United States.
Some 53 percent of the Chinese companies with businesses in the United States believe that the current U.S. administration will “tighten its general oversight of foreign companies,” the survey said. In addition, reviews by the Committee on Foreign Investment in the United States (CFIUS)remain a concern for Chinese companies. A quarter of the companies surveyed consider CFIUS reviews to be “politicized and opaque.”
“There is much distrust and misunderstanding about Chinese investments and of China in the U.S. market,” Xu said.
Private Chinese firms account for 70 percent of the current Chinese direct investment in the United States and the trend will continue as Chinese state-owned enterprises “have been unfairly treated here,” he said.
The cumulative value of U.S. FDI transactions in China reached over 240 billion U.S. dollars by the end of 2016, while the cumulative Chinese FDI in the United States totaled 110 billion dollars by the end of last year, said a joint report released in May by the Rhodium Group and the National Committee on U.S.-China Relations (NCUSCR).
In 2016, Chinese companies invested a record 46 billion dollars in the United States, tripling the amount in 2015 and representing a tenfold increase compared to just five years ago, said the report, which also found that about 79 percent of the total Chinese investments in the United States were made by private companies.
The U.S. government should open its door wider to Chinese investments and Chinese companies have to further their understanding of U.S. law and regulatory compliance as Foreign Direct Investment (FDI) between the world’s top two economies has been on a rapid rise, experts said on Thursday.
BE MORE OPEN, INCLUSIVE TO CHINESE INVESTMENT
“The U.S. government should be more open and inclusive to Chinese investments, as Chinese companies come to the U.S. with high expectations for an open and inclusive market. That is one of the major factors that makes U.S. attractive to foreign companies,” Xu Chen, chairman of China General Chamber of Commerce (CGCC) and president & CEO of Bank of China U.S.A., told Xinhua after launching a new survey on Chinese enterprises in the United States.
Over half of Chinese enterprises are concerned with U.S. regulatory oversight of foreign companies despite their growing presence in the world’s largest economy, according to CGCC’s 2017 Annual Business Survey Report on Chinese Enterprises in the United States.
Some 53 percent of the Chinese companies with businesses in the United States believe that the current U.S. administration will “tighten its general oversight of foreign companies,” the survey said. In addition, reviews by the Committee on Foreign Investment in the United States (CFIUS)remain a concern for Chinese companies. A quarter of the companies surveyed consider CFIUS reviews to be “politicized and opaque.”
“There is much distrust and misunderstanding about Chinese investments and of China in the U.S. market,” Xu said.
Private Chinese firms account for 70 percent of the current Chinese direct investment in the United States and the trend will continue as Chinese state-owned enterprises “have been unfairly treated here,” he said.
The cumulative value of U.S. FDI transactions in China reached over 240 billion U.S. dollars by the end of 2016, while the cumulative Chinese FDI in the United States totaled 110 billion dollars by the end of last year, said a joint report released in May by the Rhodium Group and the National Committee on U.S.-China Relations (NCUSCR).
In 2016, Chinese companies invested a record 46 billion dollars in the United States, tripling the amount in 2015 and representing a tenfold increase compared to just five years ago, said the report, which also found that about 79 percent of the total Chinese investments in the United States were made by private companies.
