Economy

China's investment in US positive: AmCham-China

(Xinhua)
Updated: 2010-09-19 10:28

BEIJING - The American Chamber of Commerce in China (AmCham-China) on Sept 17 said Chinese investment in the United States helps create jobs and increase understanding between the governments and peoples of the two countries.

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A statement from the AmCham-China to Xinhua said the AmCham-China welcomed the joint venture agreement signed by China's Anshan Iron and Steel Group Corporation, also known as Ansteel Group, and Steel Development Company of Mississippi.

Ansteel Group and the American company signed a deal in Beijing Wednesday to establish a plant in the United States, which could produce up to 300,000 tons of steel a year.

"We hope this transaction will be a catalyst for a wave of other job-creating Chinese investments in the United States," the statement said.

AmCham-China is a non-profit organization that represents US companies and individuals doing business in China. Its membership comprises more than 2,600 individuals from over 1,200 companies, according to a document posted at the organization's website.