U.S. woos Chinese investment amid economic slump

 NANJING, June 23 (Xinhua) -- Investment contracts worth 3.4 billion U.S. dollars were signed by enterprises from both China and the United States during a forum¹ held Saturday in eastern China's Jiangsu province.

The investments, mostly directed toward the United States, were made among 85 enterprises from 21 Chinese cities and 20 U.S. cities that participated in the second U.S.-China Cities Forum on Economic Cooperation and Investment.

A total of 42 investment projects were involved, covering 21 sectors² -- including manufacturing, energy conservation and environmental protection, electronic information, chemical and pharmaceutical³.

At the forum, four Chinese enterprises also announced their investment projects in the United States, which totaled 70 million U.S. dollars.

More than 30 Chinese mayors and representatives of over a hundred Chinese enterprises, including private and small companies, attended the forum. The 100-strong delegation⁴ of U.S. enterprises headed by 20 mayors came to the event, as the United States stepped up export-boosting efforts to rejuvenate⁵ its sluggish⁶ economy.

"We hope that the investment from China will boost the U.S. economy," U.S. Treasury's Assistant Secretary Marisa Lago said at the opening ceremony.

Lago said Chinese investment increased the fastest among all foreign investors⁷ in the United States, citing an annualized growth rate of 53 percent from 2005 to 2010 and 6 billion in total investment during the period.

The forum, jointly⁸ sponsored by Chinese and U.S. finance ministries⁹, this year sought to form contracts on the basis of agreements reached between China and U.S. top officials over the past year, including Chinese President Hu Jintao's visit to the United States in January 2011.

It also focused more on investment this year compared with the first one held in Seattle from April 19-20 last year, during which no contracts were inked.

U.S. delegates have been trying to make the most of the tour. They came to China days before the forum, acquainting themselves with local officials and enterprises, looking for every chance, even if a chance only to make themselves first heard.

Mike Rawlings, mayor of Dallas, Texas, said to revitalize the economy and increase jobs, the United States needs the support of international cooperation and foreign capital.

Rawlings hoped that his trip to China would help deepen cooperation between his city with Chinese cities, and particularly, to open a direct air route from Dallas to China.

In contrast to the eagerness on both sides, Chinese investment in the United States only accounts for a small share in the country's total foreign investment.

Aside from a limited understanding of U.S. local markets, another major obstacle for Chinese enterprises to invest in the nation is barriers set by its top officials, said Mei Yuxin, a researcher at the Chinese Academy of International Trade and Economic Cooperation under the Ministry¹⁰ of Commerce.

To address the concerns, Lago explained U.S. foreign investment review principles in her speech.

China's Finance Minister Xie Xuren said at the opening ceremony that China and the United States have different resource advantages, and strongly complement¹¹ each other in economic development.

Both countries were working to speed up economic restructuring and promote major reforms, which have presented bigger room for cooperation, he said.

The two economies should expand cooperation in more sectors, especially in energy and environmental protection, biomedicine and infrastructure¹², so as to turn opportunities into tangible¹³ results, Xie said.

China and the United States are each's second largest trading partner. Bilateral¹⁴ trade currently totals 446.6 billion U.S. dollars.

1 forum   

n.论坛，讨论会

参考例句：

• They're holding a forum on new ways of teaching history.他们正在举行历史教学讨论会。
• The organisation would provide a forum where problems could be discussed.这个组织将提供一个可以讨论问题的平台。

2 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》

3 pharmaceutical   

adj.药学的，药物的；药用的，药剂师的

参考例句：

• She has donated money to establish a pharmaceutical laboratory.她捐款成立了一个药剂实验室。
• We are engaged in a legal tussle with a large pharmaceutical company.我们正同一家大制药公司闹法律纠纷。

4 delegation   

n.代表团；派遣

参考例句：

• The statement of our delegation was singularly appropriate to the occasion.我们代表团的声明非常适合时宜。
• We shall inform you of the date of the delegation's arrival.我们将把代表团到达的日期通知你。

5 rejuvenate   

v.(使)返老还童；(使)恢复活力

参考例句：

• The mountain air will rejuvenate you.山里的空气会使你恢复活力。
• Exercise is perhaps the most effective way to rejuvenate your skin.锻炼可能是使皮肤恢复活力的最好手段。

6 sluggish   

adj.懒惰的，迟钝的，无精打采的

参考例句：

• This humid heat makes you feel rather sluggish.这种湿热的天气使人感到懒洋洋的。
• Circulation is much more sluggish in the feet than in the hands.脚部的循环比手部的循环缓慢得多。

7 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

8 jointly   

ad.联合地，共同地

参考例句：

• Tenants are jointly and severally liable for payment of the rent. 租金由承租人共同且分别承担。
• She owns the house jointly with her husband. 她和丈夫共同拥有这所房子。

9 ministries   

（政府的）部( ministry的名词复数 )； 神职； 牧师职位； 神职任期

参考例句：

• Local authorities must refer everything to the central ministries. 地方管理机构应请示中央主管部门。
• The number of Ministries has been pared down by a third. 部委的数量已经减少了1/3。

10 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

11 complement   

n.补足物，船上的定员；补语；vt.补充，补足

参考例句：

• The two suggestions complement each other.这两条建议相互补充。
• They oppose each other also complement each other.它们相辅相成。

12 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。

13 tangible   

adj.有形的，可触摸的，确凿的，实际的

参考例句：

• The policy has not yet brought any tangible benefits.这项政策还没有带来任何实质性的好处。
• There is no tangible proof.没有确凿的证据。

14 bilateral   

adj.双方的，两边的，两侧的

参考例句：

• They have been negotiating a bilateral trade deal.他们一直在商谈一项双边贸易协定。
• There was a wide gap between the views of the two statesmen on the bilateral cooperation.对双方合作的问题，两位政治家各自所持的看法差距甚大。