Foreign enterprises positive on Chinese business environment
A number of international business leaders in China are suggesting they've witnessed a number of positive changes in the Chinese market over the past five years since the last Party Congress.
General Electric Vice President and Greater China CEO Duan Xiaoying says they believe China's business environment is improving as the Chinese government streamlines its administration and delegates powers, which has helped companies reduce operational costs.
General Electric Vice President and Greater China CEO Duan Xiaoying. [Photo: CRI Online]
"I find the administrative procedures are being streamlined faster than ever. When we run into difficulties we know where to turn to for solutions. This is why our Asia-Pacific Center and Digital Foundry developed very quickly the past few years," said Duan.
China has adopted a series of policies over the past five years designed to create fair competition environment for foreign entities.
This includes increasing access for foreign companies to the service, manufacturing and mining sectors, as well as equal treatment for domestic and foreign enterprises through the "Made in China 2025" initiative.
Titus Von dem Bongart, a partner with Ernst & Young who has lived and worked in China for 20 years, says the changes seen since the last Party Congress have been beneficial to Ernst & Young.
Titus Von dem Bongart, a partner with Ernst & Young. [Photo: CRI Online]
"I think the perforce of EY was… we are very happy with the performance of EY in the last five years. There have been Free Trade Zone concept, which has been developed, and the further release of negative list which saw improvement. There is free access to China for some of our clients. We can help them in a better way. And foreign companies are coming," said Bongart.
An annual report released by the World Bank which monitors ease of business around the world has seen China jump 18 places this year up to 4th in the rankings.
Switzerland's International Institute for Management Development has also released report this year suggesting the Chinese government's handling of business affairs and bureaucracy has been on a steady rise.
US-based Kollmorgen specializes in the development of various industrial applications ranging from medical equipment to generators.
The firm's Chinese President Liu Weifeng says one of the reasons they've been able to make headway in China over the past few years is because of an improving legal environment.
He also says the Chinese government has been eager to help them find local companies to team up with.
US-based Kollmorgen's Chinese President Liu Weifeng. [Photo: CRI Online]
"The heads of industrial development areas, colleges and research institutes often approach us to express their willingness to cooperate. We already have some projects underway with them. We've also noticed the government's growing interest in cooperating with foreign companies in recent years," said Liu.
A survey by the United Nations Conference on Trade and Development this year shows China remains a top investment destination for multinational corporations.