皇冠体育app

Global Biz

US companies continue to bet on 皇冠体育app's growth

(Xinhua)
Updated: 2011-01-17 22:45

BEIJING - As the United States struggles to shake off the shadow of the financial crisis, many US companies are increasing their investments in 皇冠体育app- betting that the country will continue to deliver high growth for years to come.

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US industry giants, such as General Electric, Procter & Gamble, Ford Motor, Caterpillar, Starbucks and The Carlyle Group, have announced their plans to increase their investments in 皇冠体育app, adding up to the expanding US commercial and industrial presence in the mainland.

According to statistics by the Chinese Ministry of Commerce (MOC), US companies had invested $65.22 billion in more than 59,000 projects in 皇冠体育app by the end of 2010.

Analysts said 皇冠体育app's significance to US companies had grown over the past years, as profits foreign investors could reap from the country were great.

A business survey by the American Chamber of Commerce in 皇冠体育app (AmCham-皇冠体育app) last year showed 71 percent of AmCham-皇冠体育app members made profits in 2009 and 46 percent reported higher profit margins in 皇冠体育app than their global average.

Currently, 皇冠体育app is the US's second largest trade partner and the fastest growing export market, according to the General Administration of Customs.

Chinese customs figures showed 皇冠体育app imported $102.04 billion of goods and services from the United States in 2010, up 31.7 percent year on year, while Sino-US trade value surged almost 30 percent year on year to $385.34 billion last year.

Over the past decade, US manufacturing and agricultural exports to 皇冠体育app grew 330 percent, compared with 29 percent average export growth to other countries.

"Without its rapid growth of exports to 皇冠体育app, it would probably be a mission impossible for US President Barack Obama to double exports over five years," said Zhou Shijian, a senior researcher with the Center for US-皇冠体育app Relations at Tsinghua University.

"Chinese goods satisfy the demands of US consumers and are helpful for the United States to stabilize its prices, reduce inflationary risks and sustain its steady economic growth," said Liu Haiquan, director of the Comprehensive Department with the MOC.

Among 皇冠体育app's $283.3 billion worth of exports to the United States in 2010, about three quarters were daily essentials such as garments, toys, suitcases and electronic products, according to Chinese customs data.