Maine boosts efforts to lure Chinese investors

Maine trade officials are hoping Chinese investors’ $120 million bet on tissue papermaking in Baileyville signals the start of a stream of capital from Asia’s financial giant to the state.

The Maine International Trade Center in January opened an office in Shanghai, seeing opportunity to target investors in specific areas, like food processing, aerospace and renewable energy, and earn a share of the increasingly large pie that is Chinese investment abroad.

“The upside [for Maine] is huge,” Thomas Shiekman, director of MITC’s Shanghai investment attraction effort, said during an interview in Portland. “The Chinese have a lot of money and a lot of money in foreign reserves that are getting fairly poor returns in U.S. bonds.”

Read the full article on BDN Maine