Chinese direct investment offshore is at the beginning of an exponential take-off, according to a report, with the country’s businesses poised to accumulate between $1,000bn and $2,000bn in assets around the world by 2020.

　　一份報告稱，中國的海外直接投資正處在一輪指數(shù)級飆升的起點，到2020年，中國企業(yè)將在世界各地積累1萬億至2萬億美元資產。

　　However, the report, published by the Asia Society, which focuses on Chinese investment into the US, says that political antagonism, especially from Congress, could have a "chilling effect" on flows into America.

　　不過，由美國亞洲協(xié)會(Asia Society)發(fā)表的這份主要關注中國對美投資的報告表示，政治對抗心態(tài)、尤其是美國國會的對抗心態(tài)，可能對流向美國的投資產生一種“寒蟬效應”。

　　Chinese investment into the US is already doubling every year and the failure of the US to capitalise on a wave of future flows will damage its economy and jobs market, the report says.

　　報告稱，中國對美投資已經在呈現(xiàn)每年翻倍的增長，若美國不能利用未來將迎來的大量中國投資，將不利于美國經濟和就業(yè)市場。

　　By the end of 2009, the total stock of Chinese investment offshore stood at about $230bn, on a par with Denmark and slightly higher than Taiwan.

　　截至2009年底，中國大陸海外直接投資的存量總計約2300億美元，與丹麥相當，略高于臺灣。

　　Although exact figures are hard to come by, Chinese purchases of short-term US financial assets, mainly Treasury bonds and other securities, tower over direct investment and already exceed $1,000bn.

　　雖然難以獲得準確數(shù)據，但中國方面購買的美國短期金融資產（主要是國債和其它證券）已超過1萬億美元，遠遠多于直接投資。

　　Chinese investment offshore began to take-off in the last decade, spurred primarily by the drive to secure resources and a need to deploy productively the huge cash reserves accumulated through exports and profits at home.

　　中國的海外直接投資是在過去10年里開始起飛的，其動機主要是獲取資源、以及有必要以高成效的方式利用巨大的現(xiàn)金儲備，這些儲備是通過出口和本土市場的利潤積累起來的。

　　The Chinese already have a business presence in 35 out of the 50 states in the US, with the largest concentration of investments in Texas, New York and Virginia. The largest category by value is industrial machinery.

　　中國已經在美國50個州中的35個州擁有業(yè)務地盤，其中投資最集中的是得克薩斯州、紐約州和弗吉尼亞州。按價值計算，最大的投資類別是工業(yè)機械。

　　But China remains a relatively small player overall as an investor into the US, with the world’s second largest economy still on a par with New Zealand and Austria.

　　但整體而言，中國仍是相對較小的對美投資者。在這方面，全球第二大經濟體只與新西蘭和奧地利相當。

　　The report says that many Americans wrongly believe that the heavy state role in the Chinese economy means that investment is driven largely by political subterfuge rather than the profit motive.

　　報告稱，許多美國人錯誤地相信，政府在中國經濟中扮演的重量級角色意味著，中國對美投資的主要驅動因素是政治花招，而非盈利動機。

　　But the authors, Daniel Rosen and Thilo Hanemann, say the Chinese also need to be reminded that the country’s own opaque political system is a barrier to building trust in the US.

　　但報告作者榮大聶(Daniel Rosen)和赫恩曼(Thilo Hanemann)指出，同樣需要提醒中國方面的是，中國自身不透明的政治體制，對于在美國構建信任是一個障礙。

　　“Americans can hardly be blamed for wondering what the bottom line is if the top executives of China's state-owned companies are appointed by and beholden to the Communist party, business decisions are routinely subjected to political considerations and firms are larded with loans regardless of their business prospects,” the report says. “

　　如果中國國有企業(yè)的高層主管由共產黨任命、需報共產黨之恩，如果商業(yè)決定經常受到政治考慮的左右，如果企業(yè)無論商業(yè)前景如何都能得到大量貸款，那就很難責怪美國方面揣測一切究竟是怎么回事，”報告表示。

　　"While this opacity may be about shrouding the profit streams of privileged individuals more than anything else, American screeners [of investment proposals] cannot discreetly avert their gaze and Chinese regulators and bureaucrats do.”

　　“盡管這種不透明也許主要是為了掩蓋特權人士的利潤流，而不是出于其它目的，但美國方面負責審查（投資提議）的人不可能像中國監(jiān)管者和官僚那樣，識相地把目光轉向別處。”

　　The US and China have long discussed the outlines of a bilateral investment treaty, but it is not expected to be high on the agenda of next week's top-level dialogue between the two countries in Washington.

　　美國和中國討論一項雙邊投資條約的框架已有多年，但在下周兩國于華盛頓舉行高層對話期間，這個問題預計不會在議程上被列為主要事項。

　　While the Chinese have complained about investment barriers, Beijing recognises raising such complaints would draw a strong push back about what the US regards as multiple obstacles to foreign companies doing business in China.

　　盡管中國曾對美國的投資壁壘提出抱怨，但北京方面意識到，在會上提出這樣的抱怨，將引發(fā)美方的強烈反彈：在美國看來，外國企業(yè)在華開展業(yè)務面臨多重障礙。

　　The report says most of the growth of Chinese investment into the US since 2008 has been in manufacturing. Real estate purchases have also been growing, but they are under reported.

　　報告指出，自2008年以來，中國對美投資的增長主要是在制造業(yè)。房地產投資也在增長，但投資額低于外界的報道。