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US investors 'choosing to stay'

By Wei Tian (China Daily)

08:26, December 03, 2012

Opportunities still expanding for firms: expert

There is no indication of reshoring - manufacturers returning to the United States - said a senior executive with international consultancy company Ernst & Young.

"Foreign investment in China shows no sign of retreating," said Albert Ng, chairman of the company's China operations.

With the re-election of US President Barack Obama and signs, fiscal cliff notwithstanding, of economic recovery, there had been concerns that many manufacturers might return to the US.

But China-based manufacturers still have advantages over the US, and the country has trained a large number of skilled workers since opening-up three decades ago, Ng told China Daily.

Although China has vowed to raise its national income, "the increase in the minimum wage is a gateway to higher productivity. Made in China products will still be competitive on the global market," he said.

A company report in September showed that average labor costs in China have nearly doubled in the past five years and will continue to rise, but Ng said this would not be the determining factor for investors.

In the past, foreign companies invested in China mainly to produce at lower cost and supply global demand and while this is still true many companies now eye China as the prime market rather than the factory, he said.

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