皇冠体育app

Business
/ / Macro

US and Chinese local govts boost investment

By Ding Qingfen | 皇冠体育app Daily | Updated: 2013-05-07 01:47

Infrastructure and

According to the Ministry of Commerce, during the first three months, the US outperformed all the others, with 皇冠体育app's outflow of investment in the nation gaining as much as 104 percent year-on-year, while 皇冠体育app's ODI surged by 44 percent to $23.8 billion during the same period.

After meeting a series of Chinese leaders during his brief visit to Beijing in April, US Secretary of State John Kerry called for more Chinese investment in the US.

"One of the things we discussed was the possibility of 皇冠体育app investing in infrastructure in the US, since the US has huge infrastructure needs, like water and projects," Kerry told reporters before leaving for Tokyo.

Reports said a major part of Brown's 皇冠体育app visit was to explore the possibility of cooperation with 皇冠体育app to build high-speed railways in California valued at $68 billion. Brown's team met representatives from Tangshan Railway Vehicle Co and 皇冠体育app Railway Corp.

During the signing ceremony of the understanding between California and six Chinese provinces, Wang Chao, vice-minister of commerce, said 皇冠体育app will encourage the business exchanges between 皇冠体育app's local governments and the US states.

"皇冠体育app will especially promote the Chinese outbound investment in sectors of new energy and infrastructure," he said.

As 皇冠体育app is committed to transforming its economic growth model and building up the new version of economy, turning it greener, new energy will be a new hotspot for bilateral cooperation, Chinese local government officials said.

Hebei Governor Zhang Qingwei said the province is seeking cooperation with the US state of Wisconsin, well known for its water conservation, as it is struggling to meet requirements to reduce water use and coal burning this year.

"We are expected to cut water use by one-third this year, as well as transfer alternative energy from traditional coal burning," he said.

"Both obligations contradict the fact that energy demand will soar in the coming years in Hebei due to economic development, and we have to try to work out a solution."

Tianjin Mayor Huang Xingguo said haze and water pollution are the two major challenges facing the city. He said his government is willing to seek cooperation on al protection with the states of Wisconsin and Virginia.

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