Page 42 - 2020 White Paper on the Business Environment in China
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0 White Paper on the Business Environment in China
concession to the US amid trade talks. China Guangzhou. Those present urged for an end
previously banned some strains of fentanyl, but to the trade conflict between the world's two
only banned other strains on a case-by-case largest economies as soon as possible, as the
basis. China’s treatment of fentanyl production ongoing tension has hurt both economies.
and distribution had been a source of tension “We are all concerned about what has been
in bilateral relations because of the opioid termed a trade war, and we all hope that it ends
crisis in the US. Two days later, US and Chinese soon, and it must end soon as we need to lead
negotiators continue trade talks in Washington. the world together through cooperation and
Trump met once again with Liu and said the two friendship," said Harley Seyedin, president of
sides would know “over the next four weeks” the AmCham South China. "We strongly suggest
whether they could strike a deal. Around mid- that the leaders of both countries end the tariff-
April, US Treasury Secretary Steve Mnuchin counter tariff approach and sit down to work
claimed the US and China had agreed to establish out a mutually beneficial solution that is in the
“enforcement offices” to monitor the enforcement best interest of both nations," Seyedin said.
of the trade deal, which has yet to be finalized. "Our membership believes trade is but just one
The trade talks continued back in Beijing at the small part of the US-China relationship. And our
end of the month. 2019 State of Business in South China study
demonstrates that, at present, 78 percent of our
May 2019 American companies with investment in South
China are primarily engaged in the production
After apparent progress in talks, the US of goods and service in China for the Chinese
accuses China of reneging on past trade market. Much of the components and materials
commitments. Trump followed through on used in such production are imported from the
previous threats by increasing import taxes to 25 US. And therefore, we, the more than 2,300
percent from 10 percent on about US$200 billion members of AmCham South China, who account
worth of products from China. Negotiations stall, for 40 percent of all US-China business, trade
and the US gives China about a month deadline and investment, represent a substantial piece of
for a deal. China retaliates against the US by the larger part of the US-China relationship. Our
announcing it would raise tariff rates on US 60 investment and hard work have greatly benefited
billion worth of American products on June 1. the people of China and US alike," Seyedin added.
Trump signs an executive order banning American Chen Yuehua, Guangdong Provincial Department
companies from using telecommunications gear of Commerce deputy director general, said the
from foreign adversaries that officials declared US is the most important economic and trade
as a threat to national security. He also added partner of the province and both sides have a
Huawei and dozens of other Chinese companies very good foundation for promoting economic
to the US's "Entity List." Xi called on China to and trade cooperation. "The US is the biggest
begin a new “long march” which is seen by some trade partner of Guangdong, with a trade volume
as a signal that the country was gearing up for a reaching US$132.29 billion in 2018," Chen said.
prolonged standoff with the US. Xi visits one of That year the US constructed a total of 262
the largest suppliers of rare-earth elements in investment projects, with a contract investment
China. The move was widely seen as a reminder of more than 4.67 billion yuan (US$686.76 million)
of the leverage China when it comes to minerals in Guangdong, while the province established
the US relies on for a variety of goods, from jet 132 companies and subsidiaries in the US, with
fuel to wind turbines. a contract investment valued at more than $500
million. "Guangdong attaches great importance to
May 2019 also saw more than 400 government improving economic ties with the US. and I believe
officials, scholars and business executives the both countries will finally reach a win-win deal,"
US, China and all around the Asia Pacific rim he said. Jim Levy, US consul general in Guangzhou,
attend the American Chamber of Commerce said the Sino-US relationship is an important
South China Asia Pacific Business Summit in bilateral partnership in the world (Zheng).
42
concession to the US amid trade talks. China Guangzhou. Those present urged for an end
previously banned some strains of fentanyl, but to the trade conflict between the world's two
only banned other strains on a case-by-case largest economies as soon as possible, as the
basis. China’s treatment of fentanyl production ongoing tension has hurt both economies.
and distribution had been a source of tension “We are all concerned about what has been
in bilateral relations because of the opioid termed a trade war, and we all hope that it ends
crisis in the US. Two days later, US and Chinese soon, and it must end soon as we need to lead
negotiators continue trade talks in Washington. the world together through cooperation and
Trump met once again with Liu and said the two friendship," said Harley Seyedin, president of
sides would know “over the next four weeks” the AmCham South China. "We strongly suggest
whether they could strike a deal. Around mid- that the leaders of both countries end the tariff-
April, US Treasury Secretary Steve Mnuchin counter tariff approach and sit down to work
claimed the US and China had agreed to establish out a mutually beneficial solution that is in the
“enforcement offices” to monitor the enforcement best interest of both nations," Seyedin said.
of the trade deal, which has yet to be finalized. "Our membership believes trade is but just one
The trade talks continued back in Beijing at the small part of the US-China relationship. And our
end of the month. 2019 State of Business in South China study
demonstrates that, at present, 78 percent of our
May 2019 American companies with investment in South
China are primarily engaged in the production
After apparent progress in talks, the US of goods and service in China for the Chinese
accuses China of reneging on past trade market. Much of the components and materials
commitments. Trump followed through on used in such production are imported from the
previous threats by increasing import taxes to 25 US. And therefore, we, the more than 2,300
percent from 10 percent on about US$200 billion members of AmCham South China, who account
worth of products from China. Negotiations stall, for 40 percent of all US-China business, trade
and the US gives China about a month deadline and investment, represent a substantial piece of
for a deal. China retaliates against the US by the larger part of the US-China relationship. Our
announcing it would raise tariff rates on US 60 investment and hard work have greatly benefited
billion worth of American products on June 1. the people of China and US alike," Seyedin added.
Trump signs an executive order banning American Chen Yuehua, Guangdong Provincial Department
companies from using telecommunications gear of Commerce deputy director general, said the
from foreign adversaries that officials declared US is the most important economic and trade
as a threat to national security. He also added partner of the province and both sides have a
Huawei and dozens of other Chinese companies very good foundation for promoting economic
to the US's "Entity List." Xi called on China to and trade cooperation. "The US is the biggest
begin a new “long march” which is seen by some trade partner of Guangdong, with a trade volume
as a signal that the country was gearing up for a reaching US$132.29 billion in 2018," Chen said.
prolonged standoff with the US. Xi visits one of That year the US constructed a total of 262
the largest suppliers of rare-earth elements in investment projects, with a contract investment
China. The move was widely seen as a reminder of more than 4.67 billion yuan (US$686.76 million)
of the leverage China when it comes to minerals in Guangdong, while the province established
the US relies on for a variety of goods, from jet 132 companies and subsidiaries in the US, with
fuel to wind turbines. a contract investment valued at more than $500
million. "Guangdong attaches great importance to
May 2019 also saw more than 400 government improving economic ties with the US. and I believe
officials, scholars and business executives the both countries will finally reach a win-win deal,"
US, China and all around the Asia Pacific rim he said. Jim Levy, US consul general in Guangzhou,
attend the American Chamber of Commerce said the Sino-US relationship is an important
South China Asia Pacific Business Summit in bilateral partnership in the world (Zheng).
42
