04 May '11, 7pm

US says China less welcoming to business

US says China less welcoming to business

WASHINGTON: US Commerce Secretary Gary Locke said Wednesday it was increasingly difficult to do business in China and called restrictions on foreign investment a major impediment in relations. Locke, the nominee to be the next ambassador to Beijing, said that the US government and companies had "real frustrations" that would be raised during high-level talks between the world's two largest economies next week. Speaking at the launch of a think-tank report that supported further Chinese investment, Locke said that Washington imposed few impediments on Chinese companies seeking to enter the United States. "Unfortunately, that is not the case for American companies operating in China, where they are frequently shut out of entire industries or they are forced to give up proprietary information as a condition of operating in China," he said. "This imbalance of opportunity is a ...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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