Chinese entrepreneurs looking to US for opportunities
As the Chinese economy has expanded, some private businesses have switched their focus from courting overseas investors to seeking opportunities to establish themselves in overseas markets.
Private companies are increasingly looking toward the US as a base to either sell their own products or to set up the functions needed to re-export to other countries, says Wenguang Huang in a recent Fortune magazine article.
While China’s overseas direct investment (ODI) in the U.S. has increased from $1.2 billion in 2008 to $6.5 billion in 2011, it remains a small percentage of overall ODI with almosty 90% still going to projects in Asia, South America and Africa.
Huang also notes that significant cultural challenges remain for Chinese entrepreneurs.