In 2016, the U.S. trade surplus with China in services reached 55.7 billion dollars, 40 times the amount of 2006.
As for tourism, according to the Chinese Ministry of Commerce, Chinese tourists spent some 13,000 dollars in the U.S. per person in 2016, far more than the tourists from other countries. In 2016, Chinese tourists spent a total of 35.22 billion dollars in the U.S., creating about 97 million dollars of revenue for the U.S. per day.
EDUCATION
The United States is Chinese students' top destination for studying abroad. According to a report published by U.S. Immigration and Customs Enforcement in May 2016, there were some 353,000 Chinese students studying in the U.S., accounting for 34 percent of the total number of international students in the U.S., said Hong.
According to the estimates of the Chinese Ministry of Commerce, Chinese students studying in the U.S. spent about 45,000 dollars per person in 2016, contributing around 15.9 billion dollars of revenue to the U.S., he said.
In 2016, the U.S. exported to China 51 movies, obtaining revenue of 16 billion dollars, four times of other countries' movie exports to China combined.
INVESTMENT
U.S.-invested enterprises in China have maintained good performance and gained high profits. Sales revenue in 2015 totaled 517 billion dollars, and profit reached 36.2 billion dollars, Hong said.
In 2016, the total revenue of U.S.-funded banks, insurance and security companies was 48 billion dollars; and the total revenue of U.S.-funded accounting firms, law firms and consulting firms exceeded 19 billion dollars, he said.
In 2016, General Motors sold 3.87 million automobiles in China at a rate of one automobile per 8 seconds. Ford Motor sold 1.27 million automobiles at a rate of one automobile per 25 seconds. Both enterprises set new records in sales volumes in China. Through over 2,200 stores in China, McDonald's sells 1,600 hamburgers every minute.
At the meantime, Chinese investment in the U.S. is growing rapidly. According to a report published by the National Committee on United States-China Relations and Rhodium Group, in 2016, Chinese enterprises invested 45.6 billion dollars in the U.S., a 200 percent increase from the previous record set in 2015.
By the end of 2016, the accumulative total of Chinese foreign direct investment in the U.S. reached around 109 billion dollars, covering such sectors as services, manufacturing, real estate, hospitality, information and communication technology, entertainment and financial services.
Nearly 98 percent (425 of 435) of congressional districts in 46 states hosted Chinese-owned establishments. The total number of Americans employed by Chinese-owned companies exceeded 141,000, and most of them work in the manufacturing sector, Hong said.
