China / Innovation

Opportunities for foreign companies in China will grow, says vice-premier

By Zheng Xin ( Updated: 2015-12-04 21:44

China's economy holds substantial potential and plenty of opportunities despite changes in economic growth, and China will continuously utilize the foreign capital actively and effectively despite changes in the investment climate, said Vice-Premier Wang Yang.

With the economy taking a more sustainable path, increasing new opportunities will emerge, which makes the foreign companies' prospects in the country more promising, said Wang during the 16th AmCham China Annual Seminar & Appreciation Dinner held in Beijing on Friday.

The transformation of government functions, implementation of supervision legalization and ecological environmental protection are all in favor of a more legalized and international business climate in the country, which is in accordance with the appeal of the foreign companies in China, he said.

Themed "Partnership of Prosperity", this is the 16th year AmCham China has hosted this event, which has attracted 450 attendees.

Wang also commented on the chamber's efforts in US-China economic and trade relations over the past few decades, saying it spoke for the US companies in China.

AmCham China Chairman James Zimmerman said as a partner that strongly desires a prosperous China, the chamber has lobbied for strong commercial ties between the US and China over the past few decades, including China's entry into WTO, Chinese access to global institutions, the adoption of sensible and reasonable export controls to allow greater access to American technology by Chinese companies and consumers, and the relaxation of visas for Chinese tourists, students, and business people that seek to travel to, and do business with, the American people.

The chamber has also encouraged the US to negotiate a bilateral investment treaty that is beneficial to both our countries and we'll continue to promote China's international engagement, he said.

According to Zimmerman, the chamber has been strongly supporting Chinese companies for decades, as they seek to capture the opportunities in the global marketplace, including the US market.

"The US is welcoming an ever-greater number of Chinese investment, which is good for the US economy, just as US investment in China is good for the Chinese economy," he said.

AmCham member companies are a reflection of the best that America has to offer and has demonstrated a commitment to a prosperous China, he said.

According to the chamber, the next five years present a crucial time for China to pursue its vision of sustainable economic development, as well as an historic moment for AmCham member companies to seize the timely opportunity to help China achieve its goals.

"We all have a vested interest in strengthening the bonds between the United States and China, and there is undoubtedly much more work to be done in 2016," said Zimmerman.

"For the sake of mutual prosperity, China and US should continue to work together as partners."

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