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National flags of China, the United States, and the Chinese Communist Party are displayed on flag stalls at the Yiwu Wholesale Market in Yiwu, Zhejiang Province, China, May 10, 2019.
Ally Song | Reuters
The Commerce Department meeting did not reveal much new progress on the 24 measures announced last summer to support foreign businesses, but attendees said they were able to share specific challenges for doing business in China. Stated.
“The impression left on most of us is that there is a real desire by MofCom to realize these measures,” Jens Eskelund, president of the China-EU Chamber of Commerce, said in an interview. He said he was asking for it. Concrete example. ”
“I think the authorities were actually encouraging openness, and I think a lot of the participants were quite candid in their comments,” he said.
However, the meeting did not provide clarity on when the proposed changes to data export rules would come into effect, Eskelund said. He said new laws on forced technology transfer and state secrets were also not on the agenda at the meeting, noting that discrimination in public procurement remains an issue.
In the fall, China’s Cyberspace Administration released draft regulations suggesting a more flexible stance, saying exports of data not deemed “critical” by regulators do not require government oversight. The final version has not yet been revealed.
China this week announced an updated law on state secrets that will come into effect on May 1, underscoring its increased emphasis on ensuring national security.
“What emerged were concerns about changes in national security regulations that would impact the ability of companies to conduct due diligence in China,” Eskellund said, adding that the Commerce Department’s response was a sign of unfair treatment of domestic companies. He pointed out that the idea was to share specific cases that occurred each time, including those that occurred. .
At a regular press conference on Thursday, China’s Ministry of Commerce acknowledged that at least 60% of the 24 measures have been implemented or are making progress, as announced about a month ago, and that efforts will continue. Wednesday’s roundtable was attended by representatives of more than 60 foreign companies and nine organizations, the ministry said.
“One of the issues we raised in our meeting with MofCom was the over-emphasis on finding investment from new companies,” said Michael Hart, president of the American Chamber of Commerce in China, who attended Wednesday’s roundtable. “It was something that was happening.”
“Such moves most often come from local officials, as they are usually evaluated based on their ability to attract FDI,” he said.
Foreign direct investment into China has fallen to its lowest level in three years, due to geopolitical tensions and slowing growth in the country, official data shows.
Hart said it is difficult for companies that have not yet entered China to complete due diligence and approve new investments.
“Instead, I would like to encourage the government to focus on solving problems for companies that are already in China, many of which have been based in China for decades,” he said. pointed out that it is in a good position to make additional investments. Increase your attractiveness to new companies.
Tensions between the US and China have eased since US President Joe Biden and Chinese President Xi Jinping met in San Francisco in November. Mr. Biden, who faces re-election this fall, has emphasized the need to find areas for cooperation while competing with China.
The U.S. Department of Transportation announced this week that Chinese passenger airlines will be able to add 15 flights to and from the U.S. each week starting March 31, but this is only about a third of pre-pandemic levels, according to Reuters. He pointed out that there was no.
Official and unofficial visits between the two countries have increased in recent months, including a week-long trip to China by U.S. high school students in January.
Chinese Premier Li Qiang met with Suzanne P. Clark, president and CEO of the U.S. Chamber of Commerce, on Wednesday morning, the Chinese Ministry of Foreign Affairs announced.
“China will open its doors more widely to the outside world, continue to foster a market-oriented, law-based, internationalized, and world-class business environment, and provide more support to U.S. companies and companies from other countries. “Investing in China and doing business in China will provide the convenience of investing in China and doing business in China,” read aloud explaining Lee’s comments.
The Foreign Ministry also said late Thursday that the two countries “held renewed foreign policy consultations” and that “the two countries had frank, in-depth and constructive communication on their respective foreign policies, international affairs and regional hotspot issues.” ” announced.
According to the Chinese side, U.S. Secretary of State Salman Ahmed, Director of Policy Planning, and Miao Deyu, Vice-Minister of Foreign Affairs and Director of Policy Planning at the Ministry of Foreign Affairs, met in Shanghai on Tuesday. .
The U.S. Chamber of Commerce and the U.S. State Department did not respond to requests for comment.
China will begin its annual parliamentary session next week to discuss economic and other policies.
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