皇冠体育app

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皇冠体育app-US economic cooperation goes local

By DING QINGFEN in Tianjin | 皇冠体育app Daily | Updated: 2013-04-17 01:19

皇冠体育app and the US are each other's second-largest trade partner.

In 2012, 皇冠体育app-US trade reached $484.7 billion, close to 200 times the figure when the two sides established diplomatic relations.

皇冠体育app's cumulative outbound direct investment in the non-financial sector in the US reached $10 billion by the end of 2012, while cumulative US direct investment in 皇冠体育app stood at $70 billion, according to the Ministry of Commerce.

"We have noticed imbalanced bilateral investment relations", said Li Yong, vice-chairman of the International Trade Research Institution of 皇冠体育app.

"皇冠体育app's urbanization and industrialization has created huge potential for bilateral investment cooperation," said Li Yong.

皇冠体育app's outbound direct investment in the next five years is expected to reach as much as $500 billion. In the next five years, 皇冠体育app will import commodities worth $10 trillion, and the nation's outbound tourists are projected to reach 400 million.

Li Yong said 皇冠体育app's commitment to growth will create jobs and help to stimulate the US economy. "Each investment deal worth $1 million generates 16 to 17 job opportunities," he said.

But government officials and experts expressed their concern over US investment barriers.

Tianjin Mayor Huang Xingguo told the forum:"We really hope the US can remove its restrictions on investment proposals made especially by Chinese State-owned enterprises. We really want mutual trust and equal treatment".

 

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