Charlotte looks to China to energize its economy
Updated: 2011-11-17 10:10
By Meng Jing (China Daily)
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BEIJING - A trade mission from the United States is keen to lure investment from China's energy sector despite the ongoing dispute over the US' anti-dumping investigation on made-in-China solar products.
The delegation from Charlotte, N.C., led by the city's Mayor Anthony Foxx, has been talking to leading solar panel manufacturers in China, trying to persuade them to establish their presence in the city as part of the effort to bypass potential protectionism laws resulting from anti-dumping cases.
The 11-member team arrived in China on Friday and has already talked to government officials and business leaders in Beijing, Langfang and Baoding, Charlotte's sister city.
Foxx said they had a number of good conversations with the Baoding-based Yingli Solar, which is the third-largest solar panel maker in the world, and Tianwei Solar Films, another strong solar product maker, also in Baoding.
"We've got very positive feedbacks from them. The interest (in investing in Charlotte) is there," Foxx said.
Jetion, a Jiangyin, Jiangsu-based manufacturer of solar cells and modules, set up an assembly line in Charlotte in July, creating about 50 new jobs.
With Jetion's investment, there are a total of nine Chinese companies operating in Charlotte. Foxx said with more Chinese companies understanding what they are doing in Charlotte, more investment and companies are expected to come.
The 10-day trip to China, which ends Saturday, comes amid the US investigation into China-made solar panels, which is based on accusations from a group of US solar panel makers.
"If Chinese energy companies invest in manufacturing facilities on the ground (of the US), it is not dumping. I think it will help their production in all areas," said Benjamin DeSollar, president of the Charlotte-based Sumter Packaging Corp and a member of the delegation to China.
Apart from avoiding trade barriers, Charlotte has more to offer as a major hub in the US for energy and manufacturing sectors.
The city has 250 energy companies, including Duke Energy, which is expected to become the largest utility company in the US as soon as its merger with Progress Energy is approved by regulators, according to Foxx.
He said that around 27,000 people work for Charlotte's energy sector, which has added 5,000 new jobs since 2007.
"Charlotte is becoming the biggest energy cluster in the US. The combination of the companies and the people make Charlotte an attractive target for Chinese investors," Foxx said.
"Charlotte is growing as an example of the 21st century's green economy and we are keen to develop cooperation with those who have similar interest in China," he said.
American policymakers have been trying to woo outbound investment from China to stimulate the flagging economy and create jobs.
Six US governors, including Beverly Purdue from North Carolina, journeyed to China in mid-October to participate in the second session of the China-US Governor's Forum. The governors all admitted their mission was attracting investment from China while meeting with their Chinese counterparts.
A study released in May by the Asia Society, a US-based organization that aims to improve ties between Asia and the US, estimates that Chinese firms will place $1 trillion to $2 trillion in direct investments around the world by 2020.
China Daily