Chinese companies to play more active role in U.S. infrastructure building: experts

Source: Xinhua| 2017-04-13 11:15:36|Editor: An
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NEW YORK, April 12 (Xinhua) -- U.S. President Donald Trump has pledged a massive infrastructure plan in the country, which may bring increasing opportunities for Chinese companies, U.S. experts said here on Wednesday.

"The Trump administration has been very focused on investing infrastructure, including public-private partnerships ... We are open for business and welcome Chinese companies to participate and bid for the projects," said Patric Foye, Executive Director of the Port Authority of New York and New Jersey, on an event titled "Skyclub Dialogue: Infrastructure Development and Investment" in New York.

Foye further explained that as the government agency oversees much of the regional transportation infrastructure in the two states, Port Authority processes bridges, tunnels, airports and seaports, which are "revenue-generating assets" and "expect to attract capitals from all over the world, including China."

His viewpoints were echoed by Stephen Orlins, president of the National Committee on U.S.-China Relations, who also spoke at the event.

"When I look at the one-trillion-dollar price tag that President Trump has put on the infrastructure needs of the United States ... I looked at the three trillion reserve in China, I looked at the expertise that exists in China and I looked at what China Construction America and other Chinese construction companies are doing, creating jobs in the United States," said Orlins.

China Construction America Inc (CCA), a wholly owned subsidiary of China State Construction Engineering Corporation Ltd, is among the Chinese companies that have been playing an active role in the U.S. construction market.

Founded in 1985, CCA now has 2,000 employees, of whom 98 percent are local employees, according to the company's president Ning Yuan, who also attended the event.

Yuan said the company has successfully completed six bridge projects in the New York Metropolitan area and ranks number ten in bridge contractors across the United States.

CCA is fully funded and ready to get involved in more public-private partnership (PPP) projects, he noted.

Foye pointed out that Chinese companies like CCA should focus not only on capital-raising but also on engineering solutions and creativity when bidding on a project.

"Continued growth and success of the Chinese firms in the U.S. will eventually give them a competitive advantage in the PPP market," said Foye.