U.S Financed Companies Show Great Interest in Chinese Market

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Last updated at: (Beijing Time) Wednesday, February 13, 2002

U.S Financed Companies Show Great Interest in Chinese Market

Renowned U.S.-based transnational companies like Motorola, General Electronic, Honeywell now have a strong presence in China and are showing an even greater interest in the Chinese market.

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Renowned U.S.-based transnational companies like Motorola, General Electronic, Honeywell now have a strong presence in China and are showing an even greater interest in the Chinese market.

Statistic show that almost all U.S.-based transnational companies have set ep regional headquarters, branch companies and representative offices in Beijing or Shanghai, and over 300 of the 500 American companies have at some time invested in China.

The U.S. stands as the country that has invested the most in China in three successive years. By 2001, it had invested 35 billion U.S. dollars into more than 33,000 projects in China.

"In spite of the global economic slowdown, the investment of Ford in China is increasing," said Kenneth Hsu, vice-president of the Ford Motor Company (China), adding that the economy cars they made through cooperation with the Chinese should be finished at the end of this year.

It is said that in addition to the business of imported cars and jointed-invested cars, the Ford company is endeavoring to open car rental and credit businesses.

Dong Yuguo, a senior official of the Boeing Company (China) said in the next 20 years, China will need 1,764 civilian jet planes to meet the need of China's economic development and will become the second largest airplane market in the world.

He stressed that the Boeing company will further strengthen the mutually beneficial partnership with Chinese counterpart, forming a sort of "air rainbow" between the two countries.

During the three decades since the Boeing company started cooperation with China, China has made plane parts and components for 3,100 in-service Boeing airplanes.

Eddy Chan, regional vice president of Fedex Federal Express Corp., Fedex China and Mid-pacific, said that Fedex plans to add 100 city service stations in the next five years, including some in the western areas.

Statistic shows that Fedex has set up 198 service stations in China since 1984 when it entered Chinese market. Fedex even transported Chinese giant panda to an American zoo.

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