Chinese Buying Of U.S. Business At Record Pace

July 25, 2012 | By
Pinterest
Bookmark and Share

Governor Robert Bentley presents Li Changjie, Chairman of Golden Dragon Precise Copper Tube Group, Inc., a state seal to welcome the company to Alabama.

NEW YORK (CNNMoney) — Chinese direct investment in the United States could hit a record high in 2012, according to a new research report released Wednesday.

Total Chinese foreign direct investment in the U.S. is on pace to reach at least $8 billion this year, according to the report from research firm Rhodium Group.

That would top the previous record of $5.7 billion reached in 2010, said Thilo Hanemann, research director with Rhodium Group, which tracks all acquisitions and investments in manufacturing facilities, warehouses, labs and offices by foreign companies in the United States valued at $1 million or higher.

Hanemann said this year’s pending multi-billion dollar acquisitions include Dalian Wanda’s $2.6 billion dollar bid for movie theater chain AMC and Chinese aerospace manufacturer Superior Aviation’s $1.8 billion bid for Wichita, Kan.-based aircraft maker Hawker Beechcraft.

China offshores manufacturing to the U.S.

“If those two deals happen, we may even cross $8 billion this year,” said Hanemann.

Chinese investors are targeting a variety of American industries for investment. These include advanced manufacturing and oil and gas — led by Sinopec’s (SHI) $2.5 billion stake in Devon Energy (DVN, Fortune 500) projects.

Other industries in focus are renewable energy, aerospace, electronics and banking.

Read the whole story: CNNMoney

 

  • Facebook
  • Twitter
  • Google Plus
  • Pinterest
  • Email


Tags: , , , , , ,

Category: COMMERCE, POLITICS

Comments are closed.

Welcome to Fumua

Login


Lost your password?

 

Registration is closed

Sorry, you are not allowed to register by yourself on this site!

You must either be invited by one of our team member or request an invitation by emailing the site administrator at rcarli1000@aol.com.