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U.S. entrepreneurs see great investment opportunities in China

(Xinhua)

15:02, October 18, 2011

NEW YORK, Oct. 17 (Xinhua) -- With China's economy growing rapidly, U.S. entrepreneurs are discovering China's huge investment potential, for example in the energy and entertainment industries.

"Asia, including China, possesses abundant energy resources," John S. Watson, CEO of Chevron Corporation, said Monday at the 45th Anniversary Gala of the National Committee on U.S.-China Relations. "We've dedicated a significant portion of our long-term investment to China."

As a company which has been doing business with China for over a century, Chevron has developed solid partnerships with China's energy companies. "We deliver advanced formulations of lubricants and additives and partner offshore and onshore in major oil and natural gas developments with major Chinese companies," Watson said.

He also stressed that Chevron is looking into the possibility of developing China's significant deposits of shale gas.

Besides the energy industry, the entertainment industry is also attracting more U.S. investments. "Shanghai Disney Resort was one of the largest foreign investments in Disney's history," Robert A. Iger, president and CEO of The Walt Disney Co., said.

Just this past spring, Disney broke ground on its newest Disney resort in Shanghai which will open in about five years.

The company's aspirations in China are not limited to its parks and resort business. It has been opening Disney English language learning centers since 2008. Also, the first Disney Store will open in mainland China next year.

"We see tremendous potential in China," Iger said.

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