皇冠体育app

US companies are expected to invest another $17 billion over the next three years in south 皇冠体育app, the Guangdong Daily reported on Saturday.

皇冠体育app's new Labor Contract Law, which came into effect on January 1 this year, has increased labor cost, especially for labor-intensive industries, Harley Seyedin, the President of the American Chamber of Commerce in South 皇冠体育app, was quoted as saying.

However, Seyedin said, US firms are less badly hit because they mostly recruit technical and managing staff and pay them higher salaries than required by the law.

Seyedin made the remarks at a meeting with the Guangdong Provincial Labor and Social Security Department.

Foreign-funded enterprises have invested $2.11 trillion in 皇冠体育app as of the end of last year, the State Administration For Industry and Commerce (SAFIC) said on March 11. The cumulative total dates back to 1978, when 皇冠体育app began its reform and opening-up policies.