Huawei, ZTE risks 'overstated' (2)

The congressional report capped a series of actions by Obama's administration involving US trade with China.

In mid-September, the White House filed a trade complaint with the WTO claiming that Beijing subsidizes automobile and auto-parts exporters.

Later that month, Obama then said he was blocking Ralls Corp, a Chinese-owned company backed by leading Chinese construction machinery conglomerate Sany Group, from erecting wind turbines near a navy test site in Oregon - the first time in 22 years that a US president had barred a foreign investor for national security reasons.

In stark contrast to this year's anti-Chinese US sentiment, an Asia Society report titled An American Open Door reported last year that Chinese direct investment in the US was "soaring, both in value and number of deals".

The report, undertaken by the society's Center on US-China Relations and the Kissinger Institute on China and the US at the Woodrow Wilson International Center for Scholars, outlined the relationship's enormous potential to create economic growth.

But it had warned the US may squander immense opportunities for employment and investment gains through political fear-mongering.

It said Chinese companies had established operations and created jobs in at least 35 of the 50 US states, across dozens of industries, such as manufacturing and services.

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