Investing in the U.S. Quarterly Digest: Q4 2009 | 投资美国季度文摘: 2009年第四季
Quarterly newsletter to help Chinese executives keep pace with the U.S. investment environment | 季度文摘帮助中国企业家及时追踪并购市场动态
U.S. remains world’s top destination for FDI in 2009 despite 57 percent fall
With the global economy in full crisis, 2009 was a difficult year for foreign direct investment (FDI) flows. In January, the United Nations Commission for Trade and Development (UNTCAD) reported that global FDI flows in 2009 were down 39 percent from 2008. While FDI into China fell by just 2.6 percent, FDI into the U.S. dropped an eye-popping 57 percent to US$136 billion. Nonetheless, the U.S. still managed to retain its position as the world’s top destination for FDI, attracting 51 percent more investment than second-place China.
By the second half of 2009, FDI in the U.S. was showing signs of renewed vitality. In line with the overall U.S. M&A market, cross-border M&A, which typically accounts for more than two-thirds of FDI, began to show growth in Q3 2009. As a further sign of foreign investor confidence in a recovery, the number of cross-border greenfield investments actually reached a five-year high during the third quarter.
U.S. attracts record number of quarterly Chinese greenfield investments during Q4 2009
During Q4 2009 (covered in this issue), foreign investors continued to emerge as a key contributor to U.S. economic growth. Approximately 38 percent of greenfield projects and 12 percent of mid-market M&A deals announced in Q4 2009 involved foreign participation compared to 36 percent and 11 percent, respectively, in the preceding quarter. High tech was clearly the most attractive U.S. industry to foreign investors, accounting for almost one-fifth (107) of cross-border projects during Q4 2009.
Q4 2009 is also striking for the volume of Chinese investments in the U.S., which reached a five-year quarterly high of 15 total investments, 11 of which were greenfield and four mid-market M&A. The big question for 2010 is whether the U.S. M&A market will return to pre-crisis levels and, if so, will Chinese deal flow surge along with it?
Table of contents
Each quarter, Deloitte’s Chinese Services Group (CSG) provides you with timely insight into trends shaping the future U.S. investment environment, including:
- Which industries are attracting foreign investment
- Where foreign investors are coming from
- How Chinese companies are responding to current U.S. opportunities
- When foreign companies have invested
Download the attachment below to learn more.
由于世界范围的经济危机， 2009年对外商直接投资（FDI）来说是非常艰难的一年。根据联合国贸易发展署2010年一月发布的报告，2009年全球FDI交易总量比2008年下降百分之39。中国的FDI只下降了百分之2.6 ，而美国的FDI下降了百分之57 ， 至1,360亿美元。尽管如此，2009年美国的FDI总额仍居世界之首，比排名第二的中国多百分之51。
2009年第四季度 （本期所述），外商投资继续为推动美国经济作出贡献。2009年第四季度，大约百分之38的绿地投资和百分之12 的中型并购有外资参与。 与上一季度相比，外资项目分别占绿地投资与中型并购项目的百分之36和百分之11。美国的高科技行业最为外国投资者青睐。这一行业吸引了107项外资项目， 将近占了2009年第四季度在美跨国投资项目总数的五分之一。
2009年第四季度，中国在美投资的数量也创五年来最高，令人瞩目。 在15项项目中，11项为绿地投资，仅4项属于中型并购。2010年所面临的最大的问题在于美国的并购市场是否能回转到危机前的状况， 又能否会吸引更多的中国投资者来参与？