Beijing – May 30, 2018 – The American Chamber of Commerce in China (AmCham China) releases its annual American Business in China White Paper, in which AmCham China and its members welcome and appreciate efforts by the Chinese government to improve the environment for foreign businesses in 2017.
However, issues such as lack of consistency in policy implementation and interpretation, and of clarity of laws and enforcement still persist in the daily operations of American businesses in China, according to the White Paper.
AmCham China urges the Chinese government to increase regulatory fairness, predictability, and greater transparency, creating a level playing field based on investment reciprocity and fairness for foreign companies in China.
“US and Chinese policy makers pay close attention to the White Paper,” said William Zarit, Chairman of the American Chamber of Commerce in China. “This year the world’s two largest economies face some of their most significant bilateral challenges in the past 40 years: how to reconcile China’s government funding and protection of state-owned and state-influenced enterprises versus the American model based on market forces. The White Paper will help both sides better understand each other as the governments work toward solutions.”
The 20th edition of the White Paper explores cross-cutting, industry-specific, and regional issues faced by AmCham China’s member companies in 2017 and early 2018, and offers practical recommendations for addressing these challenges that will, if implemented, benefit both foreign companies and the Chinese economy as a whole. AmCham China hopes that this year’s White Paper will serve as a constructive tool for both the Chinese and US administrations in looking for ways to maintain a mutually beneficial bilateral economic relationship.
The annual White Paper is a comprehensive analysis of China’s economic policies and practices with respect to foreign trade and investment. It is drafted by AmCham China members across about 40 industries and sectors, and is based on the results of the annual survey conducted by AmCham China.
2018 marks the 40th anniversary of China’s reform and opening up. AmCham China continues to play an important, constructive role to support a substantial and healthy Chinese economy based on fairness and reciprocal treatment. In that spirit, AmCham China has developed the following policy priorities in the White Paper:
- Building Trust Through Clarity and Consistency. AmCham China urges the Chinese government to close the effectiveness gap between legislation and its enforcement through an inclusive process for participation in the formulation and implementation of laws and regulations.
- Promoting Development through Open Investment. AmCham China believes the benefits of open, vibrant markets extend well beyond foreign-invested enterprises. All parties in Chinese society, including consumers, farmers, and private companies can benefit from these.
- Stimulating Innovation through Global Cooperation. To realize its innovation goals, China will need to strengthen its infrastructure and open its institutions to allow information to flow more freely. Creativity is the product of diverse ideas combined in an environment where standards are set with broad participation and intellectual property is protected from theft.
About AmCham China
The American Chamber of Commerce in the People's Republic of China is a non-profit, non-governmental organization whose membership comprises more than 3,300 individuals from 900 companies operating across China. The chamber's nationwide mission is to help American companies succeed in China through advocacy, information, networking and business support services. AmCham China is the only officially recognized chamber of commerce representing American business in mainland China. With offices in Beijing, Tianjin, Dalian, Shenyang and Wuhan, AmCham China has more than 50 working groups, and holds more than 250 events each year. Visit: www.amchamchina.org
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