[20210115]IF11283_中美投资关系：概述.pdf

https:/crsreports.congress.gov Updated January 15, 2021U.S.-China Investment Ties: OverviewBackground Investment is playing a growing role in U.S. commercial ties with the Peoples Republic of China (PRC or China). For many years, the PRC government invested much of its foreign exchange reserves in U.S. assets, particularly U.S. Treasury securities. China is the worlds largest holder of foreign exchange reserves and had $3.2 trillion in reserves as of November 2020. These large reserves stem largely from Chinas trade surplus and investment inflows. Government actions to halt or slow the appreciation of its currency and restrict capital outflows also have boosted reserves. Since 1999, the PRC government has pushed an outward investment policy that has sought to diversify its overseas investments into hard assets by encouraging its companiesmany of them state-tied firmsto invest overseas. These investments have targeted gaining access to critical raw materials and cutting-edge technology and establishing an overseas presence to expand infrastructure and create markets for Chinese goods and services. While a significant share of Chinas investment in the United States is in U.S. public