Michael Hart, President at AmCham China, discusses his outlook for business sentiment in China as Treasury Secretary Janet Yellen wraps her visit to China. He speaks with Haidi Stroud-Watts and Kathleen Hays on “Daybreak Asia”.
“Anything that can help make the US-China relationship better, number one, will help the companies here, the investment sentiment, and two, just give us more opportunity to cooperate,” Michael Hart, president of the American Chamber of Commerce in China, told AFP.
The American business community has welcomed the visit by Secretary Yellen to China, citing it as a positive indicator for trade. Michael Hart, the President of the American Chamber of Commerce in China, shared in an interview with Zheng Chunying his perspective on the key role that the Chinese market plays for the U.S., despite the current tensions between the two nations.
“We have confidence in the Chinese economy what we’re starting to see is a lot more movement of people. US China trade last year was it is highest ever and many companies would be interested in looking at China for opportunities because China does have a very large consumer base and wealthy consumer base.”
AmCham’s Hart said there seems to be “mixed messaging,” as demonstrated by the government’s raids on American business consultancies in recent months. “We hear China wants foreign investment,” Hart said. “On the other hand, we hear about these raids.” The chamber, Hart said, had raised the raids with the authorities, asking for transparency but it has not received any feedback so far.
AmCham China President live on Bloomberg TV: “Our members told us for the past three years that their number one pain point was US-China relations. So, it was very important for Secretary Blinken to say, number one, we want business to be stable; and number two, to make sure he’s pressing the Chinese government on our behalf that it’s a stable playing field.”
Colm Rafferty, chairman of AmCham China, said in a Tuesday statement that the organization had been advocating for “constructive, results-oriented talks. “Our businesses understand the irreplaceable value of in-person engagement, especially when tackling challenging issues,” he added.
[Forbes] Elon Musk Visit To Beijing Highlights Business Role In U.S.-China Ties — AmCham China President
The appearance of Tesla billionaire entrepreneur icon Elon Musk in Beijing this week underscores the continuing importance of the China market to the U.S. amid geopolitical and military strains between the two countries, as well as the key role of businesses in Sino-U.S. ties, American Chamber of Commerce in China President Michael Hart said in an interview.