China investment supports jobs in America
Updated: 2013-01-24 07:02
WASHINGTON - Increasing Chinese companies started to choose the US market as a place that they would like to have operations, which means new jobs for Americans, said a US trade group on Wednesday in a report.
The US-China Business Council (USCBC) said in a report titled "China and the US Economy: Advancing a Winning Trade Agenda" that Chinese investment is a crucial part of the US economy, but now it is low compared with investments from other foreign companies.
According to Rhodium Group, Chinese companies invested 6.5 billion US dollars in America in 2012. By comparison, British companies invested 442 billion dollars in 2011, German companies invested almost 216 billion dollars and Dutch companies invested over 240 billion dollars, the US government data indicated.
The US leading trade association for American companies doing business with China recommended in an action plan that the US side should set clearer and more transparent guidelines for national security concerns related to Chinese investment in the United States, to de-politicize the investment review process and reduce uncertainty for Chinese investors.
The USCBC of roughly 240 American companies highly emphasized US-China relationship and defined it as a global strategic issue for the United States.
The report also suggested that US politicians move on to issues that do matter rather than focus on the currency issue. " Some lawmakers on Capitol Hill have made China's currency value the sole focus of attention, despite the fact that it has appreciated more than 30 percent against the US dollar since 2005," said USCBC President John Frisbie.
The report, which addresses 10 topics to help Americans better understand China, came as a tool to advance common sense and to debunk many myths and conventional wisdom that typically shape the understanding of the US-China commercial relationship.