Great benefit for U.S. from Sino-U.S. trade co-op

08:23, January 18, 2011      

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China Daily on Monday issued an commentary on Sino-U.S. trade cooperation. Following is the full text.

Chinese market "cash cow" of the U.S.

Since the beginning of the new year, American companies one after the other have proposed their new policies of investing in China. General Electric Company (GE) will invest more than 2 billion U.S. dollars to sharpen its research and development in China with several new innovation centers and joint ventures; P&G has announced that they will in five years add another 1 billion U.S. dollars in China; Ford Motor Company said they would further expand their production this year; Caterpillar Inc will build new joint ventures to boost their spare parts business in China; Starbucks has confirmed that their coffee shops in China will reach as many as 1,500 by 2015; The Carlyle Group will raise money specially to be used in China.

Intel China is no exception. According to Ge Jun, Executive Director of Intel China, the Chinese government is pushing the integration of the “three nets” (namely, telecom, computer and cable TV networks) and the development of Internet of Things (IoT). This undoubtedly will provide new opportunities to the U.S. IT industry. Since Intel's settlement in China in 1985, China has become its second largest market outside of its homeland.

According to statistics from China's Ministry of Commerce, by the end of 2010, the U.S. had invested in more than 59,000 projects in China with a total of 65.22 billion U.S. dollars. China is becoming a “money spinner” to U.S. companies. A survey by the Chinese American Chamber of Commerce said that 71% of the U.S.-funded ventures made profits in 2009 and 46% of them gained a higher profit ratio in China than they did in any other country.


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