International Perspective: The Miracle Of Reburning The "Textile Industry Corridor" In South Carolina

< p > "investing in a country is equivalent to casting a vote of confidence for the host country". In the face of the rapid growth of Chinese enterprises' investment in the United States, Charles Blum, a former assistant American trade representative, believes that promoting healthy investment is crucial to the future of the economic relations between the two countries.

Our reporter went to many places in South Carolina to investigate the flourishing development of Chinese enterprises investing in the United States, and feel the positive energy injected by Chinese investment for the development of bilateral relations.

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A Chinese funded project is under construction near the 77 interstate highway in P, South Carolina.

Cole, headquartered in Xiaoshan, Hangzhou, chose to set up its first overseas factory in Lancaster County, South Carolina.

The total investment of the project is US $218 million, and we expect to create more than 500 jobs in the next 5 years.

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< p > Lancaster county was once a famous textile industry in the United States.

From the end of nineteenth Century to 2007, the textile industry was the mainstay of the local economy. At the height of its prosperity, the "textile industry corridor" composed of two other counties in Lancaster and around the world gathered 20 textile enterprises.

But in 2007, as the last textile factory moved to Latin America, the local textile industry almost disappeared.

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< p > Keith Tenel, director of Lancaster merchants Bureau, admitted that the arrival of Cole group surprised and delighted him. "Cole is like a catalyst, giving Lancaster textile industry the hope of rebirth."

Tenel said that due to the benchmarking effect of the Cole group, some other textile enterprises from China and India have planned to invest locally.

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< p > it is learnt that the project of Cole group is expected to be put into operation in March next year. It will make use of the advantages of South Carolina located in the center of the cotton producing area of the United States to produce industrial cotton yarn.

Reporters at the scene saw that the frame structure of the workshop had been completed.

Cole, deputy general manager of American company Wang Lu, told reporters that the products will be shipped back to China for sale, while the other part will supply the local and peripheral markets.

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< p > in Chester County on the other side of interstate 77, Zhejiang Cixi Jiangnan Chemical Fiber Co., Ltd. just recently hung up its brand in the US branch.

The company was once a factory for producing household goods, which was closed in 2008.

At the entrance of the factory, the brand of the yuan company is still there.

Sun Ya, deputy general manager of Jiangnan Chemical fiber, Cixi, told reporters that the company bought the plant and block in December last year, and is now carrying out site leveling. It is expected to be completed and commissioned in February next year, using recycled plastic bottles to produce polyester staple fibers to meet the needs of American customers.

In the next 5 years, the factory is expected to create 319 jobs for the local market.

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< p > look at the factory that has been empty and busy again. Carissa Parker, director of Chester merchants Bureau, is very gratified. She describes that Cixi Jiangnan Chemical fiber has injected "good cardio" to the local people, so that the unemployed can get back to work.

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Since P 2010, Chinese enterprises' investment in the US has increased rapidly.

Reporters in South Carolina know that, including Cole group and Cixi Jiangnan Chemical fiber, there are at least 3 Chinese funded factories under construction.

Investment from China has been quite large in South Carolina and has become an important part of the South Carolina economy.

In 2013, China was the largest export market in the state and the second largest source of investment, according to the State Department of Commerce.

So far, 17 Chinese companies have invested in the state of South Carolina with a total investment of US $656 million, which has created more than 2800 jobs.

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Less than P, South Carolina is well-developed in manufacturing and attracting foreign investment in the forefront of all States.

Robert Hitt, director of the Commerce Department of the State Council, told reporters that China and the United States are huge economies, and that China's growth is much faster than that of the United States.

Many companies in the United States have been diversifying in the world, and China is heading in this direction.

"This is good for everyone and gives us more reasons for cooperation."

Hitt said: "we see more and more investment activities from China. This is the trend of development."

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< p > the situation in South Carolina is a microcosm of the rapid growth of Chinese enterprises' investment in the US.

From California on the west coast to New York on the east coast, from Alabama in the south to Utah in the Midwest, the United States attaches great importance to developing "partnership" with China.

According to the latest statistics of China's Ministry of Commerce, China invested $2 billion 30 million in the United States from 1 to May this year, an increase of 144%.

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Utah, with a population of only 3 million, has sent a business representative to China and actively inviting P.

Brett Henberg, director of international trade and foreign affairs of the Utah governor's office of economic development, told reporters earlier that China has been an important partner of Utah.

China is the fastest growing export market in Utah.

For investment from China, Han Berg said that there are some projects, but have not yet reached the desired level, "there will be great potential for growth in the future".

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< p > Bloom told our reporter that Chinese enterprises still have great potential to invest in the US.

The United States especially welcomes greenbelt investments that create new jobs.

He believes that expanding Chinese investment in the US will not only boost American output, increase revenue, reduce trade imbalance between the US and China, but also make returns for Chinese investors.

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< p > despite the rapid growth momentum, the scale of two-way investment between China and the United States is still not commensurate with the size of the two economies, and there is also imbalance between two-way investment. China's investment in the United States is relatively small.

But investment in China and the US is undergoing structural changes.

Gary Hough Bauer, a senior researcher at the Pedersen Institute for international economics, predicts that China's investment in the United States this year may exceed that of the United States.

The two-way investment between China and the US has reached an important turning point.

Hough Bauer believes that the bilateral investment agreement between China and the United States is very important and can increase the opening and access of the US and China market. If we talk about it, it will significantly improve the two-way investment.

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< p > for the issue of whether the US foreign investment review committee can be fair to Chinese enterprises, Bauer said that the United States should strictly restrict censorship to real national security.

He also said that the procedures of the foreign investment review board could be more pparent.

For example, they never publish the archives of national security review.

Hough Bauer said that even under the established legislative framework, the US government could make its national security review mechanism for foreign acquisitions more pparent.

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< p > "investing in a country amounts to casting a vote of confidence in the host country."

Bloom said that health promotion investment is crucial to the future of bilateral economic relations. The two sides should welcome investment from the other side, avoid discrimination against foreign capital and minimize the degree of control in industries such as defense and communications.

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