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Chinese enterprises invest more in US high-end sectors
2017/4/10 16:40:20 Source:people.cn

Chinese enterprises, with a growing globalization capability in recent years, have diverted more capital from developing countries to developed European and US citizen market with higher access threshold. They also put more money into high technology, agriculture and real estate rather than previous energy, minerals and other natural resources.

Private businesses carry more weight in overseas investment

Private capitals now make up bigger share in China’s overseas investment, reshaping the cake dominated by State-owned enterprises (SOE) previously.

According to a recent statement issued by the US electric vehicle manufacturer Tesla, Chinese internet giant Tencent has become its 5th largest shareholder after purchasing 5 percent of the company’s passive stake at the price of about $1.78 billion.

The investment would probably help Tesla further expand its market share in China, said a Forbes commentary.

Most of the Chinese capitals in the US used to be invested by SOEs, and now private companies have become a major force, said Steve Orlins, president of National Committee on US-China Relations. He was one of the first US citizens who came to China after the two countries established diplomatic ties.

A report complied by China General Chamber of Commerce — USA said that more than 80 percent of Chinese capitals in the US market as of 2016 were contributed by private enterprises.

Wanxiang Group, a Chinese automotive component manufacturer who accessed the US in 1994, has established 28 factories in the country, becoming the largest Chinese enterprise in central and western US.

According to local media, every 1 in 3 automobiles in the US is installed with components manufactured by Wanxiang America Corporation.

Wanxiang Group invested $12.5 million to build a 4,000-squaremeter solar panel factory in Rockford, Illinois in April 2010, receiving financing support from the state government.

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