Chinese hi-tech investment continues to grow in the United States, with 148 deals in the last three years occurring in California. The number one destination for Chinese hi-tech money is the San Francisco Bay Area, which includes Silicon Valley. That’s why a group of mayors from the region is banding together for a special trip to China.
Inside these walls of Texas Instrument’s Silicon Valley Headquarters, lies a team that was practically saved by Chinese company TDG.
Jane Wu is on the TDG Board of Directors and knows the story well. She says TDG invested in American company ACT Solar. One year later ACT developed their technology, was acquired by National Semiconductor, which was then acquired by Texas Instruments.
"The company grew by three times after we invested," Wu said. "They got acquired. For national semiconductor it was later acquired by T.I., they get a good technology, and for TDG it’s a good investment because we exit in just 12 months."
TDG is hoping to find more deals like these as it helps sponsor a groundbreaking trip - one of the largest U.S. delegation of mayors to ever visit China. The non-profit group China-Silicon Valley plans to bring around 10 mayors and vice-mayors from California’s Silicon Valley area to Beijing, Shanghai, Wuhan and Shenzhen.
"Hi-tech deals represent 60 percent of Chinese investment in the U.S. About three-quarters of all the hi-tech deals coming into the U.S. from China are in the cities where the mayors will visit," said Tom Shoesmith, a board member of China-Silicon Valley.
Source: CCTV
