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China Daily Website

Opening investment channels is key for Sino-US ties

Updated: 2013-07-22 19:18

Economic and trade cooperation is the foundation for China-US relations. Increased direct investments from both countries will further bilateral ties, said a People's Daily article (excerpts below).

Chinese investment in the United States multiplied by 2.9 times from 2012 in the first half of this year. By the end of May, US investments in China had exceeded $70 billion and China's investments in the US reached nearly $20 billion.

US investments help to improve the perception of the "Made in China" label, while China's investments into the US will create more jobs for Americans, which are badly needed now. Increasing investments benefit each country.

But the US should lift some of its controls on investments from China. Some US experts have criticized the US government's irrational inspection of foreign investments under the excuse that it is guarding national security.

The US' examination of Chinese investments lack transparency. What's more, the US government's efforts to stall several Chinese investments politicizes economic and trade issues and conflicts with the free trade principle upheld by the US.

The technology from several Chinese enterprises are more advanced than their US counterparts. The US' examination of investments has prevented these Chinese enterprises from investing in the US. In contrast, US investments nearly reach every corner of Chinese society and economy.

Creating an open, fair and transparent investment environment will have a positive influence on Sino-US relations.