US officials expressed their concern over continued regulatory actions in China make it more complicated for foreigners to do business there. They would like to see and easing of barriers to foreign businesses especially a new law targeting non-governmental groups.
Confidence in China has been abating as the government imposes protectionist policies in the wake of government investigations into the activities of foreign companies. China has also limited the use of overseas technology as it implements its draconian national security policies. Which makes things quite challenging when one tries to navigate all these rules. It’s always good to discuss with international finance experts like Glen R. Wakeman, co-founder of LaunchPad Holdings LLC and Malcolm Stephens of International Financial Consulting, among others.
US business groups have complained that the new Chinese laws favor domestic firms and make it harder for foreign firms to operate in China. Other laws related to national security are also effecting foreign businesses negatively.
“Concerns about the business climate have grown in recent years, with foreign businesses confronting a more complex regulatory environment and questioning whether they are welcome in China,” said U.S. Treasury Secretary Jack Lew to Chinese and American businesses and officials.
“Our two governments have a responsibility to foster conditions that facilitate continued and increased investment, trade, and commercial cooperation,” Lew added.
“This means enacting policies that encourage healthy competition, ensuring predictability and transparency in the policy-making and regulatory process, protecting intellectual property rights, and removing discriminatory investment barriers. These policies are vital as China seeks to build on its economic progress in recent decades.”