US envoy seeks Chinese backers for key projects

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US Ambassador to China Max Baucus attempted to woo Chinese investors on Monday with his country's infrastructure projects.

The envoy said that apart from a few high-profile rejections, most foreign investment projects in the US received approval.

The Committee on Foreign Investment in the United States "is not nearly the problem that some people think", Baucus said at a US embassy forum in Beijing.

"I know politically that sometimes it's used, but we have to cut through the politics and get down to the economics and I can tell you it is not an issue.”

The committee has been regarded as a major hurdle to Chinese investment in the US,as it has cited national security concerns to block some large projects from China.

Investigations by the committee led to telecommunications equipment giant Huawei withdrawing from a $2.2 billion deal in 2007 to take over US networking equipment maker 3Com and from a $2 million technology purchase from 3Leaf Systems in 2010.

Baucus repeated the assurance made by many US officials that most foreign investment approvals did not go to the committee.

A report, commissioned by the US Chamber of Commerce and completed by law firm Covington & Burling and other firms, said that at least $8 trillion in new investment would probably be needed in US transportation, energy and wastewater and drinking water infrastructure from 2013 to 2030, totaling $455 billion annually.

Questions:

1. Who is Max Baucus?

2. What committee is regarded as a major hurdle to Chinese investment in the US?

3. According to a report by the US Chamber of Commerce and a law firm, how much new investment is probably needed in US transportation, energy, and wastewater and drinking water infrastructure through 2030?

Answers:

1. The American ambassador to China.

2. The Committee on Foreign Investment in the United States

3. $8 trillion.

About the broadcaster:

Anne Ruisi is an editor at China Daily online with more than 30 years of experience as a newspaper editor and reporter. She has worked at newspapers in the U.S., including The Birmingham News in Alabama and City Newspaper of Rochester, N.Y.