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Wang Chao Attended China-U.S. Investment Promotion Forum
Brief:China-U.S. Investment Promotion Forum was held in Beijing with the theme “Supporting Investment in U.S. and Promoting Cooperation and Win-win”.
On November 15, China-U.S. Investment Promotion Forum (Beijing) was held with the theme “Supporting Investment in U.S. and Promoting Cooperation and Win-win”. Wang Chao, Vice Minister of Commerce attended the forum and made a speech. Sun Zhenyu, Chairman of China Society for WTO Studies presided over the forum.

Wang Chao pointed out that, as the largest developing country and the largest developed country, China and U.S. have high complementarities on resources endowment, markets, investments and techniques. During the 30 years since China and U.S. established diplomatic relations, the bilateral economic and trade developed rapidly. Bilateral trade volume developed from USD 2.45 billion in 1979, to USD 484.7 billion in 2012, increasing almost 200 times. U.S. is still one of the largest sources of foreign investment, and meanwhile, China’s investment in U.S. is enjoying a rapid growth. In January-September in 2013, the non-financial direct investment of Chinese enterprises in U.S. reached USD 3.08 billion, up by 251.1% year-on-year. By the end of September 2013, the total non-financial direct investment of Chinese enterprises in U.S. was USD 14.33 billion.

Wang Chao said that the investment promotion between China and U.S. presents a favorable development situation. 1. Cooperation and win-win is the main theme of China-U.S. economic and trade relation. In recent years, bilateral economic and trade frictions grows and Chinese enterprises is facing some obstacles when investing in U.S., but expanding investment in U.S. is the inner development need of Chinese enterprises, and also conform to the interests of U.S.. Chinese enterprises investing in U.S., motivating U.S. products exporting to Chinese markets, is an effective way to realize mutual benefit and win-win. Both China and U.S. should cherish the economic and trade cooperative fruits, further deepening cooperation in various fields between the two countries. 2. There are huge potential in Chinese enterprises investing in U.S..The deepening and development of bilateral economic and trade relation provide favorable conditions and China’s strategic “goingout” provides vast space to investing in U.S.. The huge market, advanced technology and perfect infrastructure in U. S. attract China’s investors profoundly. Many Chinese enterprises hope to improve their own level of management and technology through investing in U.S.. 3. Further improvement of investment environment is the precondition and guarantee for Chinese enterprises investing in U.S.. Ministry of Commerce will positively create a favorable environment for investment abroad, continue to strengthen the macro-direction and services for “going out”, improve systems for policy promotion, service assurance and risk control, make full play of bilateral dialogue mechanism, and implement the signed Memorandum of Cooperation of Bilateral Investment Promotion, to drive Chinese enterprises to invest in U.S..

Wang Chao hoped that U.S. government could provide national treatment to all the Chinese enterprises and reduce unnecessary legal impediment to Chinese enterprises. He also highlighted that, both China and U.S. should be strategic and constructive, to develop China-U.S. relation, deepen dialogue, promote mutual trust, strengthen cooperation, control disputes and compete benighly, keeping to seek convergence of interests, to effectively promote China-U.S. investment promotion to develop to a new step.

The Forum included two stages, the themes of which are respectively “Opportunities and Challenges to Invest in U.S.” and “Introduction of Financial Environment and Laws and Regulations of U.S.”. Seven speakers had deep discussions on subjects of common concern like China-U.S. economic and trade relation, the environment for industrial investment of U. S., laws and regulations of U.S., risk control of overseas merger and acquisition and financial tax administration. About 180 representatives from investment promotion institutions, enterprises, scientific research institutions and academic institutions of the both countries attended the forum.
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