U.S. States Offices Travel to Zhejiang for Commercial Service Invest In America Program

On June 24th, The U.S. Commercial Service Shanghai office led a delegation of U.S. States Trade Offices to Huzhou, Zhejiang province. Organized in partnership with the Council of American States in China (CASIC), the delegation consisted of envoys from Illinois, North Carolina, South Carolina, and New Jersey China Representatives Offices with the purpose of identifying outbound investment opportunities and increasing Chinese investment in the United States.

This delegation to Huzhou was part of the U.S. Commercial Service’s Invest in America program, designed to encourage outbound investment from China to the United States. The U.S. States representatives met with both private and public sector contacts in Huzhou, strengthening government contacts with Huzhou Government officials as well as meeting with one of the largest bearing manufacturers China who has already established offices in the United States, and who is in talks to increase North American distribution through further investment in the represented States.

The U.S. Commercial Service’s Invest in America program is a high priority governmental commercial business program, as foreign investment into the Unites States is an important method of reducing U.S. trade deficit, spurring economic growth, and creating new American jobs. Foreign Direct Investment (FDI) from Chinese companies like are becoming increasingly important as a key economic driver; in 2010 Chinese FDI to the United States increased 17.7% to reach an all time high of US$ 105.7 billion. The Invest in America Program has seen great success, encouraging Chinese companies to benefit from The United States’ transparent legal system, low taxes, and outstanding infrastructure to access to one of the world’s most powerful consumer markets. These States representatives found the trip to Zhejiang to be extremely beneficial for furthering Huzhou based business investment in the United States.

For more information about the U.S. Commercial Service China Invest in America program please visit us at http://www.investamerica.gov/, and for information on the U.S. Commercial Service find us at http://export.gov/china/.