AmCham China Supports Continued Efforts to Transform Chinese Economy, Deepen Economic Reforms

BEIJING, April 23, 2013 /PRNewswire/ -- As the Chinese market matures, foreign companies in China can fill a vital role in supporting the development of domestic consumption, services and innovation, according to the 2013 State of American Business in China White Paper released by the American Chamber of Commerce in the People's Republic of China (AmCham China).

"In the next stage of China's economic expansion, it is clear that low-cost labor and exports can no longer be the primary drivers of growth. Moreover, in order to develop beyond middle-income status, China must find new ways to boost productivity," said AmCham China chairman Greg Gilligan.

"Our member companies can make valuable contributions to the Chinese economy through their managerial and technological expertise," he said.

"However, present regulations limit the ability of foreign firms to invest and fully compete in a number of key industrial sectors. By reforming its business policies to align more closely with those of mature developed markets, China would level the playing field for private and state-backed companies and promote competition that would benefit both Chinese companies and consumers over the long term."

The 15th edition of the 376-page White Paper, which is written by volunteer AmCham China members, offers recommendations on reforms that would improve the business climate in the areas of investment, standards, transparency, and IPR. It also provides detailed snapshots of business conditions across some two dozen industries, ranging from clean technology to financial services to information and communications technology.

"China's new leadership has taken office amid a growing consensus about the urgency for economic reforms," said chamber president Christian Murck.

"We are encouraged that they have endorsed a reduction in the number of required government approvals, internationalization of the RMB, inclusive urbanization as a driver of growth, and continuation of the reform and opening process. We look forward to meeting with agency officials to discuss operating conditions across different industries in more detail."

To make the 2013 White Paper easily accessible to more readers, the report will be available on AmCham China's website (www.amchamchina.org/whitepaper2013) in PDF form as well as a new, easily searchable digital reader format. It will also continue to be available on iPad, Nook and Kindle platforms and in the standard print edition sent to chamber members.

About AmCham China's Annual White Paper:

The White Paper is AmCham China's most important and authoritative policy document. It is widely distributed and referred to by officials in the Chinese and US governments, and will be used by AmCham China as a basis for policy discussion and dialogue for the next 12 months. Download the full text or individual chapters from the 2013 White Paper at: www.amchamchina.org/whitepaper2013

About the American Chamber of Commerce in the People's Republic of China:

AmCham China is a national non-profit organization representing the interests of over 1,000 companies and 3,500 individuals doing business throughout China. Headquartered in Beijing, it has chapters in Tianjin, Northeast China (Dalian) and Central China (Wuhan). For more information, visit: www.amchamchina.org

SOURCE AmCham China