Report: China's investment in US can top US$400b by 2020

THE United States may attract a record amount of direct investment from China this year and the volume is likely to reach US$400 billion by 2020, the Asia Society said in a report released at a conference held in Shanghai today.

Although there have been a number of failures in China's attempt to invest in the US, they result from different understandings of standards and can be addressed through better communication and cooperation, the conference was told.

"China is an increasingly important source of FDI for the United States," said Brenda Foster, president of the American Chamber of Commerce in Shanghai. "Like investment from other foreign countries, Chinese capital creates new American jobs and maintains existing ones, it creates US exports, provides new sources of capital, offers opportunities for finance-needed infrastructure and promotes research and development."

In the first three quarters of this year, Chinese companies completed transactions worth US$6.3 billion, setting the stage for a new record year in Chinese investment in the US.

The previous record of US$5.8 billion was created in 2010. Before 2008, China's direct investment in the US was below US$1 billion a year.

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