Record investments by Chinese firms in U.S. projects
In just the first three quarters of 2012, Chinese businesses have invested $6.3 billion in foreign direct investment projects in the United States. It's already the most capital Chinese firms have ever invested in the U.S. in one year.
The numbers come from a new report from the New York-based Rhodium Group, which found that energy and advanced manufacturing are seeing the most investment dollars. Service firms in entertainment, hospitality, finance, and information technology are also of interest to Chinese investors.
Here's a look at how this year compares:
As of June 2012 Rhodium Group estimates that 27,000 people in the U.S. are employed by Chinese firms, not including indirect jobs (like construction work).
With U.S. presidential candidates trying to one-up each other on who will be tougher on China (don't look for anything different in tonight's debate on foreign policy), will the U.S. continue to be open to Chinese investment? Rhodium thinks so:
The United States will stick to its traditional openness to foreign investment, while still diligently screening investments for security threats, including commercial and political espionage.
California is poised to see the most investment by Chinese firms of any state, with the potential to attract as much as $60 billion in Chinese investment by 2020. Here's a useful map to see where Chinese firms have been investing in states throughout the U.S. since 2000.
Chinese FDI in the United States: Q3 2012 Update [Rhodium Group]