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US firms wary of China's industrial policies
By Wang Yanlin |
April 26, 2011, Tuesday
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Online Edition
Online Edition
DESPITE their good performance, US companies in China expressed concerns over industrial policies that might hurt fair competition, a survey by the American Chamber of Commerce in China revealed today.
"Current market conditions are excellent and AmCham-China members report strong revenue growth and good profit margins," said the AmCham's 2011 white paper on the state of American businesses in China.
"But there is an emerging pattern of Chinese industrial policies that favor domestic companies at the expense of their foreign counterparts," it noted.
The report continued to say such policies include regulations linking with indigenous innovation, licensing, standards, government procurement, competition law and intellectual property protection enforcement.
Ted Dean, chairman of AmCham-China, said Chinese authorities need to expand market access and improve regulatory transparency and consistency across different geographic regions.
"As China seeks to transform its growth model and develop a knowledge-based economy, US businesses can serve as a valuable resource by sharing expertise in technology and management," Dean said. "However, to promote closer economic ties and information sharing, it is important to ensure that US companies can expect to receive the same standard of efficient, fair regulatory treatment as their Chinese counterparts."
Besides, the report said foreign companies remain partly or completely barred from participating in major industries such as banking, securities, telecommunications, legal services, and insurance.
"The ongoing restrictions, combined with a less welcoming regulatory environment, raise questions about the depth of China's commitment as a WTO member to developing free and open markets," the report said.
"Current market conditions are excellent and AmCham-China members report strong revenue growth and good profit margins," said the AmCham's 2011 white paper on the state of American businesses in China.
"But there is an emerging pattern of Chinese industrial policies that favor domestic companies at the expense of their foreign counterparts," it noted.
The report continued to say such policies include regulations linking with indigenous innovation, licensing, standards, government procurement, competition law and intellectual property protection enforcement.
Ted Dean, chairman of AmCham-China, said Chinese authorities need to expand market access and improve regulatory transparency and consistency across different geographic regions.
"As China seeks to transform its growth model and develop a knowledge-based economy, US businesses can serve as a valuable resource by sharing expertise in technology and management," Dean said. "However, to promote closer economic ties and information sharing, it is important to ensure that US companies can expect to receive the same standard of efficient, fair regulatory treatment as their Chinese counterparts."
Besides, the report said foreign companies remain partly or completely barred from participating in major industries such as banking, securities, telecommunications, legal services, and insurance.
"The ongoing restrictions, combined with a less welcoming regulatory environment, raise questions about the depth of China's commitment as a WTO member to developing free and open markets," the report said.
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