Chinese investment in US hits record $6.5 bn in 2012
02 Jan 2013
China has invested a record $6.5-billion in various acquisitions and greenfield operations in the United States covering a variety of industries signifying the world's second-largest economy's growing appetite for overseas assets.
The investment, which has grown from a mere $11 million in 2000 to $6.5 billion in 2012, was also up 12 per cent from $5.8 billion in 2011.
China's cumulative investments in the US have reached $22.6 billion, according to a new report published by New York-based Rhodium Group, which closely tracks Chinese investment in the US.
Most lucrative investment destinations include sectors such as fossil fuels and chemicals, hospitality and real estate, electronics and information technology and industrial machinery.
''This new record reflects both the growing determination of Chinese firms to expand overseas and the attractiveness of US markets and assets to these investors,'' the report said.
Today Chinese firms already employ 29,000 people in the US, up from less than 10,000 just five years ago.
