China urges US to New air­ports to boost wrap up trade pact busi­ness avi­a­tion

Ne­go­tia­tors have al­ready com­pleted 24 rounds of talks

China Daily (Canada) - - LIFE - By AB­DUL LATHEEF ab­dul@chi­nadaily.com.cn By ZHONG­NAN in Boao, Hainan zhong­nan@chi­nadaily.com.cn

The man who tracks the wealth of China’s high-net­worth in­di­vid­u­als be­lieves the gov­ern­ment’s plan to build scores of new air­ports in the next five years will boost China the and coun­try’sthe busi­nessUnited States avi­a­tion should sec­tor. com­plete ne­go­ti­a­tions “It’s bril­lianton the news, bi­lat­er­a­land will in­vest­men­thelp growth treaty sub­stan­tially,”be­fore Novem­ber’ssaid Ru­pert US Hoogew­erf, pres­i­den­tial pub­lisher elec­tion of to the pre­vent Hu­run po­ten­tial Re­port po­lit­i­cal fea­tur­ing in­ter­ven­tion,China and for­mer global com­mercerich lists. min­is­ter Chen Dem­ing “The said num­ber onWed­nes­day.of air­ports

in His China com­mentsis very lim­it­ed­came af­ter com­pared the US Repub­li­can­with coun­tries pres­i­den­tial where pri­vate fron­trun­nerair­craft own­er­ship Don­ald is Trump high,” he pledged­said in toa tele­phoneim­pose tar­iffs in­ter­viewon Chi­ne­se­from Shang­hai,prod­ucts to where “level busi­ness­the play­ing avi­a­tion­field”, even lead­ers though will this be would gath­er­ingbe con­trarynext mon­thto the for rules a of ma­jorthe World con­fer­ence.Trade Or­ga­ni­za­tion.

Speak­ing Hoogew­erf at spokethe to an­nual China Boao Daily Fo­rumtwo for weeks Asia agoin Boao, af­ter Hainana draft prov­ince, doc­u­ment Chen for said the China coun­try’sand the 13th US Five-Yearhave com­pleted Plan (2016-20)text sub­mit­ted ne­go­ti­a­tions to on the the na­tional bi­lat­eral leg­is­la­ture, in­vest­ment pledgedtreaty, to or buildBIT. Both more sides than are 50 now new ex­plor­ing ways of fur­ther shrink­ing the so-called neg­a­tive lists be­fore mov­ing on to talks on mar­ket ac­cess, he said.

A “neg­a­tive list” spec­i­fies any bans or lim­its on for­eign in­vest­ment.

Busi­nesses not on such a list are pre­sumed to be un­re­stricted. This sys­tem has been adopted in China’s four pi­lot free trade zones in Shang­hai, Tian­jin, Guang­dong and Fu­jian, which opened in the past two years.

But ne­go­tia­tors have yet to de­cide on the neg­a­tive lists in the China-US talks.

civil­ianEager air­port­sto cre­ateby 2020.a fair in­vest­men­tThe lack en­vi­ron­mentof air­ports for has for­eign­long been busi­nesses,cited as a China fac­tor has hold­ing urged back theUS growthto ex­changein busi­ness views on air­craft­the neg­a­tive own­er­shiplists to in con­cludeChina. the talks.

Reuben Hoogew­erf Jef­fery,’s lat­est pres­i­dentlist of of the Rock­e­feller su­per­rich, and re­leasedCo, said last the month, val­i­da­tion showed of that BIT Chi­nacan help has both­the largest Chi­nese num­berand US of com­pa­nies bil­lion­aires op­er­atein the busi­nessworld at in 568, each com­pare­dother’s mar­ketto 535 in­de­pen­dent­lyin the United States.in the long term, in­stead­But theof look­ing num­ber for of lo­cal busi­ness part­ners air­craftto form in joint­the coun­tryven­tures. re­main­sThis would rel­a­tivelybe fairly low, flex­i­ble around for 400 the­mat the to be­gin­ning­con­trol their fi­nan­cial op­er­a­tions of 2015, show.

By com­par­i­son, there are about 15,000 own­ers of 17,000 busi­ness air­craft in the US, ac­cord­ing to the Wash­ing­ton-based Na­tional Busi­ness Avi­a­tion As­so­ci­a­tion.

The US also has the most air­ports — more than 19,000 at the end of 2014, a ma­jor­ity of them des­ig­nated for civil­ian use. China has only a few hun­dred air­ports open to civil­ian use.

Hoogew­erf noted there are other fac­tors as well, af­fect­ing the pace of growth in China. and “One make is the in­vest­men­trules cov­er­ingde­ci­sions. busi­ness air­craft op­er­a­tion.

US “If com­pa­niesyou regis­ter had on­shore,in­vested you $77.5 have bil­lionto pay ina 25 China per­centby the tax. endIf youof reg­is­ter2015 and off­shore,China had you’ve in­vest­edto fol­low $46.6a lot bil­lionof com­pli­cate­din the US dur­ing rules theto op­er­ate­same pe­riod, the air­craft­data from within theMin­istryChina,” heof Com­merce­said. showed.

Bi­lat­eral “An­other is trade that not reachedall bil­lion­aires $558.39 billionare cash-rich­last year, at theup 0.6 mo­ment per­cent be­cause year-on-yearof the stock from mar­ket 2014. per­for­mance.”

“The De­spite bi­lat­er­althat he in­vest­men­tand oth­ers treaty are cer­tainly op­ti­mistic can about pro­vide the one of the best op­por­tu­ni­ties

in­dus­try

fig­ures to cut in­vest­ment bar­ri­ers and mar­ket in­crease po­ten­tial. trans­parency level“We in are both con­fi­dent coun­tries thatand en­sure busi­nessa level avi­a­tion play­ing in field Asia amon­gand Chi­naall com­pa­nies,will con­tin­ueas well to as grow, im­prov­ing per­haps pro­tec­tion­sat a slow­er­for Chi­ne­sep­ace, but and still US grow­ing,” in­vestors saidin each Char­lie other’s Mu­larski, mar­kets,” chair­man­said Mer­itof the Janow, Hong dean Kong-basedof the School Asian of Busi­ness Man­age­ment Avi­a­tio­nand Pub­lic As­so­ci­a­tion. Af­fairs at Columbia Univer­sity.Most ma­jor play­ers in the Chi­ne­seTalks on mar­ket­the in­vest­ment in­clud­ing treaty Air­bus be­gan SAS, in The 2008 Boein­gas both Co, coun­tries Gulfstream sought Aerospaceto in­crease Corp mu­tu­a­land Em­braer in­vest­ment,SA, are equal­ly­which only op­ti­mistic. ac­counted for a tiny share “China of is one their of the overseas largest in­vest­ment.growth mar­kets They in havethe world­com­pleted today, 24 both rounds­for air­li­ne­sof ne­go­ti­a­tions and busi­nessby Jan­uary­jets, and of Air­busthis year. sees it “Re­in­forcin­gas an im­por­tant the mar­ket re­la­tion­ship for its cor­po­rate be­tween jets Chi­nain the and com­ingthe US will years,”be more­said David chal­leng­ing Velupil­lai, and even mar­ket­ing­more di­rec­tor im­por­tant at now Air­busas the Cor­po­rate pres­i­den­tialJets. elec­tion Grow­ing cam­paign busi­ness cre­atesin Chi­naa ten­den­cy­will be high amon­gon the lead­ers agenda run­ning­when del­e­gates­for of­fice from to around­blame US the eco­nomic­world meet prob­lem­sin Shang­haion oth­er­for the coun­tries,”Asian Busi­ness said Avi­a­tionYao Zhizhong, Con­fer­encedeputy di­rec­torand Ex­hi­bi­tion,of the Bei­jing-basedApril 12 through In­sti­tute 14.of WorldSome 40 Eco­nomic­sair­craft will and be Pol­i­tics on show at at the ABACE Chi­nese 2016. Academy of So­cial Sciences.

Busi­ness avi­a­tion in Asia and China will con­tinue to grow ...”

YU FANG­PING / FOR CHINA DAILY XIN­HUA

A worker looks closely as con­tain­ers are un­loaded in Qing­dao Port, Shan­dong prov­ince. China is ea­ger to cre­ate a fair in­vest­ment en­vi­ron­ment for for­eign busi­nesses.

Work­ers clean planes tak­ing part in an in­dus­try expo at Shang­hai’s Hongqiao Air­port.

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