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US aims to attract Chinese investment (2)

(Global Times)

10:11, December 06, 2012

"The forum has sent a signal that the US is open to Chinese investment," William Zarit, minister counselor for commercial affairs at the US embassy in Beijing, told the Global Times Wednesday.

To facilitate investment, Zarit suggested that Chinese companies should find a reputable lawyer, establish a good public image and get prepared for a possible CFIUS review as early as possible.

However, the threat of strict investigations has not dampened Chinese companies' ambitions to head overseas.

"We plan to invest $8-10 billion in the US in the next 10 years," Wang Jianlin, chairman of Dalian Wanda Group, which acquired US movie theater chain AMC Entertainment Inc in May, said at the forum.

Wang said Wanda is mulling several investment projects including hotel management companies and department stores in the US, without offering further details.

Wanxiang Group, a private Chinese auto parts maker, is scheduled to attend an auction of bankrupt US battery maker A123 Systems Inc Thursday.

Meanwhile, some companies are turning to other investment destinations with less strict scrutiny, as the US is not the only choice.

"I have not found any interesting projects in the US so far, but we are close to an acquisition of a Canadian company, pending approval from the Chinese authorities," Qin Wenhua, overseas project director of Sichuan Bohong Group Co, told the Global Times Wednesday.

【1】 【2】



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