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New Neighbors 2018 Update: Chinese FDI in the United States by Congressional District

The decline in Chinese investment last year was mostly triggered by policy shifts in both China and the US, not commercial dynamics.

Rhodium Group and the National Committee on US-China Relations have released the 2018 update of their “New Neighbors” report series. The report provides a detailed tally of the operations of Chinese-affiliated companies in the United States and the local impacts of their investment. It delivers data on the cumulative value of foreign direct investment (FDI) transactions, the total number of operations, and employment associated with Chinese investors by region, state, and each of the 435 U.S. congressional districts. The report is intended as a resource for national and local U.S. officials, businesses and the general public.

The 2018 report finds that the value of completed Chinese FDI transactions dropped by over a third (35%) to $29 billion in 2017 as Beijing imposed restrictions over outbound investment and Washington toughened screening of high-tech acquisitions. The value of newly announced transactions dropped by more than 90%. The impact from this decline in FDI activity was also felt on the local level: planned greenfield projects were delayed, fewer jobs were added to Chinese payrolls compared to the previous year, and some Chinese firms even began seeking buyers for their U.S. assets.