Locke: US welcomes Chinese investors

THE United States does not intentionally block Chinese investment and imports, US Ambassador to China Gary Locke said in Shanghai yesterday.

"The US is responding to Chinese concerns about American economic practices - for example on inbound investment and export control restrictions on high-technology goods - so that together we can find ways to further unlock the economic potential of our two countries," Locke said in a speech to an audience of around 450 at the American Chamber of Commerce.

He said Chinese investment into the US was vital to economic growth, job creation and productivity, and the world's largest economy welcomed such investment.

"Many Chinese firms are reluctant to invest because they misunderstand that their investment will be blocked by the US government and that all Chinese investment in the US requires US government approval," Locke said.

To change that perception, he said the US had beefed up efforts to attract Chinese investors.

He said the US Foreign Commercial Service had regularly been organizing investment fairs and conferences targeted at attracting Chinese investment, and the embassy had commissioned a video in Chinese to dispel "false myths" about investing and guide investors on how to become successful in the US.