US Ambassador to China says America liberalises trade, investment rules
2012 04 12
- Details
THE United States does not intentionally block Chinese investment and imports, says US Ambassador to China Gary Locke, according to China Business News.
"We encourage Chinese trade and investment," Mr Locke said. "Growing Chinese demand for American products will help to create more jobs in the US. We are trying to unlock the full potential of the US-China economic relationship by becoming more open and appealing. The export control reform is underway although it may take a few more years, and we are also trying to remove barriers for new investment.
"The US is responding to Chinese concerns about American economic practices - for example on inbound investment and export control restrictions on high-technology goods - so that together we can find ways to further unlock the economic potential of our two countries," he said.
Mr Locke said Chinese investment into the US was vital to economic growth, job creation and productivity, and the world's largest economy welcomed such investment.
"Many Chinese firms are reluctant to invest because they misunderstand that their investment will be blocked by the Committee on Foreign Investment in the United States (CFIUS), and that all Chinese investment in the US requires US government approval." To change that perception, he said the US had beefed up efforts to attract Chinese investors.
He said the US Foreign Commercial Service had regularly been organising investment fairs and conferences targeted at attracting Chinese investment, and the embassy had commissioned a video in Chinese to dispel "false myths" about investing and guide investors on how to become successful in the US.
"The video will be ready in a month and we will show it all over China," Mr Locke said. "The reality is that only a handful of all foreign investment in the US is reviewed by the US government, and very few of these involve Chinese companies."
The US is also in the midst of a major reform that will enable more high-tech goods to be exported to China, Mr Locke said.
It has granted 46 out of 141 high-tech items that China listed as hoping to purchase from the US, he said. For the remainder, China needs to offer additional details so the US can determine whether and under what conditions they can be exported.
In May, Mr Locke said, a delegation of American companies will be in Shanghai to meet Chinese companies interested in purchasing high-tech goods, including items on the list.
Source Shipping Gazette - Daily Shipping News
The magazine SEA has been published since 1935
International business magazine JŪRA MOPE SEA has been published since 1999
The first magazine in Eurasia in the four languages: English, Chinese, Russian and Lithuanian
|
|