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business investment

Daniel Howes / Detroit News

Forget the notion that the Chinese are coming to the auto industry near you. They’re already here.

Geely has controlled Sweden’s Volvo for seven years now. Tencent Holdings owns a five percent stake in Elon Musk’s Tesla. Pacific Century Motors acquired Delphi’s Saginaw-based steering division to create Nexteer Automotive Corp. And Chinese companies spent $140 billion last year on mergers and acquisitions, second only to the United States.

Hot dog food cart
Bryce Huffman / Michigan Radio

A Michigan native and Army veteran is looking to expand his West Michigan company.

Michigan native James Meeks is the CEO of Move Systems International. The company makes and operates food carts -- like the ones hot dog vendors use on the sidewalks of New York City.

The New York-based company is investing $13 million to manufacture more of its food carts in the Grand Rapids area.

He says his military background has influenced how he does hiring.

Rick Snyder and Terry Gou shaking hands
Michigan Governor's Office

A Chinese newspaper is reporting that Foxconn, the Taiwanese electronics giant, plans to build a multi-billion dollar facility in Michigan.

The South China Morning Post reports the company's founder, Terry Gou, says he plans to build an autonomous vehicles research and development center in Michigan.

Neither Foxconn nor Gov. Rick Snyder, who met with Gou yesterday, have confirmed the report.   Snyder is on a trade mission in China.

Flickr user Scott Beale / Flickr

Crowdfunding. The word itself wasn't even known less than a decade ago. But crowdfunding has become a powerful way to raise money.

EquityNet tells us that more than $20 billion in funding transactions will happen around the world this year. That is a 100% increase from $10 billion last year.

Steve Carmody / Michigan Radio

The state of Michigan may soon get out of the venture capital business.

The state House Commerce and Trade committee takes up legislation tomorrow that would sunset a state program that has made hundreds of millions of dollars in tax vouchers available for investment.