BEIJING, April 24, 2012 /PRNewswire-Asia/ -- Amid rising costs and moderating economic growth, there is increasing urgency for China to enact market reforms in order to transition to a more innovative and sustainable economic model, according to the 2012 State of American Business in China White Paper released by the American Chamber of Commerce in the People's Republic of China (AmCham China). AmCham China members remain strongly committed to business growth and participation in the China market. The 2012 White Paper identifies growing uncertainties over the future pace and direction of economic reform and the impact on operations in China.
AmCham China's annual White Paper, now in its 14th edition, is written by representatives from member companies, and outlines key developments and challenges across a wide range of industries in which US member companies operate, from agriculture to financial services to retail. As China's economy grows, market conditions remain good for business and AmCham China members report strong revenues and good profit margins.
China's progress toward a market economy has slowed in recent years and the outcome of ongoing efforts to rebalance the economy to create a market based on domestic demand and sustainable innovation remains uncertain. "AmCham China commends the government for the many successes it has achieved, but the transition to a new economic growth model presents new challenges. A new commitment to deepen market reforms and extend a truly market economy to additional sectors of the economy will ensure more sustainable economic growth in the future and create new opportunities for companies and consumers," said AmCham China Chairman Ted Dean.
As China enters a transition phase in its economic development, the 2012 White Paper outlines policy recommendations that will benefit China's economy and advance China's development goals. "To position itself for the coming decades of growth, we believe China should promote more vibrant competition. It could do so by opening up market access across the many industries that remain restricted to foreign investors, completing the transition to a market economy, and promoting greater consistency and transparency in government policies around the country," said Ted Dean.
Specific policy recommendations in the 2012 White Paper for improving the business and investment environment include a focus on human resource challenges, improving regulatory coherence across China, increasing licensing opportunities for member companies and improving intellectual property rights protection.
To make the 2012 White Paper easily accessible to more readers, the 348-page report will be available on AmCham China's website (www.amchamchina.org/whitepaper2012) and on iPad, Nook and Kindle platforms, as well as in the standard print edition sent to chamber members.
About AmCham China's Annual White Paper:
The White Paper is AmCham China's most important and authoritative policy document. It is widely distributed and referred to by officials in the Chinese and US governments, and will be used by AmCham China as a basis for policy discussion and dialogue for the next 12 months. Download the full text or individual chapters from the 2012 White Paper at: www.amchamchina.org/whitepaper2012
About the American Chamber of Commerce in the People's Republic of China:
AmCham China is a national non-profit organization representing the interests of nearly 1,200 companies and 3,000 individuals doing business throughout China. Headquartered in Beijing, it has chapters in Tianjin, Northeast China (Dalian) and Central China (Wuhan). For more information, visit: www.amchamchina.org
SOURCE AmCham China