QINGDAO has been ranked one of the favorite emerging Chinese cities for investments by American companies, according to a commercial report by the American Chamber of Commerce in Shanghai.

    The report said more than a quarter of the American enterprises had confirmed their intention to expand to China’s second and third-tier cities this year.

    The United States has become the fourth-biggest investment source in Qingdao.

    Despite the global financial crisis, American investments in Qingdao had been on the rise.

    The city government approved 38 American projects last year, totaling a contracted investment of US$430 million, a year-on-year increase of over 757 percent, according to the city’s commerce bureau statistics.

    The actual American investments in the city reached US$170 million last year, up more than 91 percent over 2009.

    By the end of last year, 1,666 American projects had been approved by the city government, totaling contracted investment of US$4.5 billion, covering electronic communications, information technology, equipment manufacturing, textiles and clothing, food and beverage, chemical industry, auto parts, logistics, retail and international trade.

    Chunyu Xianli, who is in charge of European and American affairs in the commerce bureau, said the United States would increase investments in China and the consumption market would maintain stable growth in China.

    Boasting modernization, a role as a key port city, developed economy and a strong market demand, Qingdao has been one of the popular second-tier Chinese cities with investments from North America and the Europe.

    With the improvement of the investment climate and profile, Qingdao has seen an increasing number of well-known enterprises on inspection visits to the city.

    Fortune Global 500 company Walmart established a company in Qingdao last year, with plans to open one or two Sam’s Clubs or more supercenters.

    Other American big players, including Starbucks (six outlets in Qingdao) and McDonald’s (17 outlets) both plan to expand their business in the city.

    (Li Hao, Zhou Jianliang)