AmCham China chairman calls for more progress in domestic market opening-up

The US and China are expected to discuss structural problems in the bilateral economic relationship during US President Donald Trump’s visit to China, a US business leader said Wednesday.

“We expect that there will be a lot of deals acknowledged, which reflects the strength and importance of the relationship. But we hope that doesn’t overshadow the need to address structural issues,” William Zarit, chairman of the American Chamber of Commerce in China (AmCham China), told the Global Times in an e-mail on Wednesday.

AmCham China is hoping the two sides will use this opportunity to discuss structural issues, such as a US trade and investment environment that is more open compared to that of China’s, according to Zarit.

“We understand that during the Comprehensive Economic Dialogue, the US laid out its expectations for how the economic relationship should progress, but there has yet to be a substantive response from the Chinese side,” Zarit remarked.

There have been some positive developments in the policies that govern market access for foreign-invested enterprises in China, Zarit said.

For example, China has made progress in administrative streamlining efforts and has begun the transition to a nationwide negative list system for managing foreign investment, he said.

The Chinese authorities often talk about innovation being essential for China’s economic growth, Zarit noted.

“Innovation increasingly takes place through cross-border collaboration, so limiting free movement of data across borders stymies innovation. We thus recommend stimulating innovation through global cooperation,” he said.