During his landmark visit to the US in January, Chinese President Hu Jintao visited the corporate headquarters of Wanxiang America Corporation, near the geographic center of the country in the state of Illinois.

As expected, the company's employees greeted the Chinese leader with open arms. But this was far from the first time they have entertained Chinese visitors.

Wanxiang America, which was founded in 1994 as a modest auto parts manufacturer and is now a diversified company with 4,500 US employees, is one of many companies successfully riding a new wave of foreign investment from China.

Chinese investment in the US is surging and its impact is being felt in companies like Wanxiang throughout the country.

Lenovo has used Chinese investment to become one of the most recognized brands of laptop computers in the US.? Haier employs hundreds of Americans in its South Carolina factory, while Sany Group is opening a plant in Georgia that will employ hundreds more.?

In 2003, China's investment position in the US was $448 million. By 2009, that figure had expanded to over $2.3 billion, an average annual increase of 31 percent. This spectacular growth is expected to continue, and perhaps accelerate, in the years ahead.?

Encouraged by China's "going out" policy, Chinese outbound investment flows grew from under $3 billion in 2002 to $59 billion in 2010.

While much of this investment has been targeted at markets closer to China, Chinese investors are increasingly pursuing opportunities in the US, the No.1 destination for global foreign direct investment.

The US welcomes this investment. Foreign investment is essential to our economic well-being.

Foreign-owned subsidiaries in the US employ 5.5 million people and generate approximately 18.5 percent of US exports. They help make our economy more productive and our business environment more competitive.?

Just as important, foreign investment in the US creates familiarity with our culture and institutions. It gives foreign investors a stake in the success of the US economy. In short, foreign investment can enhance trust and friendship between the US and its investment partners.

For these reasons, the US has maintained a long-standing policy to welcome international investment.

To this end, we have sought ways to help foreign investors better understand US investment procedures. Our "Invest in America" program, created in 2007, facilitates contact between investors and federal and state agencies, and is the primary US government mechanism to promote foreign investment in the US.?

In 2010, our embassy and consulates in China organized or supported over 20 outbound investment events that included presentations to hundreds of Chinese corporate executives on the open investment climate in the US.?

Recognizing that investment creates jobs and brings other significant benefits, US state and local government leaders have become some of the most prominent and effective supporters of increased foreign investment in the US.? Governors, mayors and other state and local leaders regularly lead trade and investment missions abroad to attract foreign investment to their districts.? Last year, at least eight US governors led such missions to China, and many more are planned this year.?

To meet our shared goal of increased Chinese investment in the US, our governments at all levels and companies should work together to replicate the successes of Wanxiang, Haier, Lenovo and many other Chinese firms that are bringing benefits to the US in the same way that US investments have created economic opportunities in China.