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California benefits from business with China

(Xinhua)    18:52, October 27, 2016

BEIJING, Oct. 27 -- California has benefited a lot from its business with China in terms of investment, job creation and growing number of Chinese tourists according to a recent report on Los Angeles Times.

This report, entitled “California actually benefits a lot from trade with China”, sheds light on the growing trade ties between China and the U.S. state.

“Chinese money has seeped into almost every crevice of California’s economy — inflating its cities’ skylines, flooding amusement parks and shopping malls with tour groups, snapping up $1-million-plus homes with all-cash offers, and quietly rejiggering the power balance in Hollywood,” the report said.

In terms of investment, the report said Chinese investors' money serves as a driving force behind a “renaissance in construction”.

Lots of residents in California have witnessed the benefits of Chinese money flowing freely into the U.S., and more money was brought back to their pockets, their daily life got improved greatly, the report said.

As for job creation, the report said most investments in California are either innovation or labor intensive or both.

“The explosion in Chinese imports also has fueled the creation of new jobs in California, thanks to the state’s bustling ports,” it said.

Tourism has also become an important contributor to both the economy and the employment in the state, it added.

According to Visit California, a nonprofit agency that promotes tourism, Chinese tourists to California hit a record 1.1 million last year, and that number is expected to hit 1.5 million by 2018, the report said.

The average Chinese tourist spends about 2,200 dollars per visit to California, $200 more than the typical foreign visitor, it said.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Du Mingming, Bianji)

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