U.S. to Attract Up to $400 Billion in China Investment by 2020 with California a Top Target Finds Asia Society Report
Compared to the rest of the U.S., Chinese investment in California Commenting on the importance of Chinese investment to the larger U.S. economy, Brenda Foster, president of AmCham Shanghai said, "The U.S. is one of the world's most open markets for investment and China Understand California's value to China. The state's economy is the largest in the U.S. It has strong competitive advantages in high-tech sectors like software, IT, electronics, and cleantech. The state has long ties with China and has one of the most highly educated, multi-cultural workforces in the world. Target the right Chinese firms. High-tech firms in China seek what their California counterparts have: technology, know-how, and market experience. This is also true for high-value services in China seeking to move up the value chain. The Chinese government has identified exactly these areas as priorities for future economic growth. Step up the state's investment promotion efforts. Continued growth of Chinese investment is not foreordained. Competition from other states, and nations, is intensifying, and the traditional hands-off approach is outdated and inadequate. The new GO-Biz office is an encouraging development, and more must be done to support innovative local initiatives such as ChinaSF in San Francisco. Lead the way to help resolve national anxieties over China. Growth in China's U.S. direct investment has rekindled old arguments about foreign firms and the national interest. While security screening for foreign investments is both necessary and legitimate, concerns can be politicized for protectionist ends. California has more self-interest than any other state to step up and contribute to solutions based on its experience with successful, and failed, deals and a sophisticated understanding of cutting-edge industries.
The report's global release, including a full Chinese-language version of the report, took place on November 15 Asia Society is the leading educational organization dedicated to promoting mutual understanding and strengthening partnerships among peoples, leaders and institutions of Asia Rhodium Group combines policy experience, quantitative economic tools, and on-the-ground research to analyze disruptive global trends. Its work supports the investment management, strategic planning, and policy needs of the financial, corporate, government, and not-for-profit sectors. Rhodium Group is based in New York City