Monday, October 20, 2014   

Corporate deals boost China investment in US to US$14b
(01-08 13:42)

China's investment in the United States doubled to US$14 billion last year despite sometimes rocky political ties. Private firms led the way, a study found.
About half of the value consisted of Shuanghui International's takeover of prominent pork producer Smithfield Foods, a US$7.1 billion deal that marked the largest Chinese acquisition of a US company.
But the report by the Rhodium Group, a New York-based firm, found that the total number of deals had also risen from 2012 to 82. It said that Chinese companies accounted for 70,000 full-time jobs in the United States.
The total value of investment hit a record high of US$14 billion, with high-profile deals in real estate as well as Chinese investors took stakes in the General Motors Building and Chase Manhattan Plaza in New York.
Private firms and entrepreneurs dominated, accounting for 87 percent of transactions and 76 percent of the total value of Chinese investment, a contrast to the dominance of state firms until recently, the study said.—AFP

   
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