US official says to resolve Chinese investment issues

Updated: 2012-12-06 13:59


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BEIJING -- US Under Secretary of State Robert Hormats said Wednesday that the US government will make efforts to resolve issues emerging from Chinese investment in the country and work to attract more Chinese investors.

Chinese companies have grown increasingly worried about expanding their presence in the US market following efforts by the US government to block some companies from investing in the country over so-called "national security risks".

The number of issues regarding Chinese investment in the United States is minor compared to the number of Chinese companies operating successfully in the country, Hormats said.

"Those issues are very small compared to the overall number of successful Chinese investments in the US and the size of Chinese investment in the United States," said Hormats.

A US Congress report released on Oct 8 claimed that Chinese tech firms Huawei and ZTE pose a possible threat to US national security, suggesting that regulators should block them from buying US companies and ban their products from being used in US government computer systems.

US President Barack Obama issued a presidential order in September to prevent Ralls Corp, a US subsidiary of Chinese company Sany Group, from owning four wind farms in Oregon, citing national security risks due to the farms' close proximity to a military facility.

Sany, a leading engineering machinery producer in China, has launched a suit against the US government, as the move is expected to result in direct economic losses of $20 million for the company.

Hormats said the US government will work to resolve the disputes.

"We are going to work very hard with the US Chamber of Commerce in China, as well as with the Chinese government, to continue to attract Chinese investment in the United States. When there are issues that arise, we are going to try to work those out," he said.


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