‘China wants to invest in US roads, rails’

Chen Deming told a business group on Friday his government wants to expand commercial and investment cooperation with the United States.

Last Updated: Dec 02, 2011, 19:27 PM IST

Beijing: China`s Commerce Minister says his government wants to convert some of its huge holdings of US government debt into investment in American roads and railways.
Chen Deming told a business group on Friday his government wants to expand commercial and investment cooperation with the United States in infrastructure, clean energy and technology industries.

Chen cited infrastructure in particular, saying he was very impressed with US subways and roads when he visited the country 20 years ago but systems in many cities need to be renovated.

He said China was willing to turn debt holdings into investments, "hoping to create jobs for the United States."

Bureau Report