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China to address foreign investors’ concerns on transparency

Updated: Nov 23,2015 12:04 AM     Xinhua

Vice-Premier Wang Yang addresses a China-US agricultural cooperation conference in Guangzhou, south China’s Guangdong province, Nov 22, 2015.[Photo/Xinhua]

GUANGZHOU — Vice-Premier Wang Yang said in Guangzhou on Nov 22 that China understands and will address the concerns of foreign investors on transparency, according to an official press release.

Wang told a CEO round-table conference attended by dozens of entrepreneurs from China and the United States that the Chinese government will listen more to foreign enterprises during policy-making process.

The conference was held on Nov 22 in Guangzhou, capital city of South China’s Guangdong province.

US Secretary of Commerce Penny Pritzker and Trade Representative Michael Froman also attended the conference on the sidelines of the annual session of the China-US Joint Commission on Commerce and Trade (JCCT).

The Chinese government is committed to building a fair, transparent and expectable business environment, Wang said, stressing that feasible suggestions provided by foreign investors will be embraced.

Vice-Premier Wang Yang (3rd R, front), US Secretary of Commerce Penny Pritzker (4th L, front) and Trade Representative Michael Froman (3rd L, front) attend a China-US CEO roundtable conference in Guangzhou, South China’s Guangdong province, Nov 22, 2015.[Photo/Xinhua]

China respects foreign investors’ rights to apply for administrative reconsideration and will also create favorable conditions for their access to judicial relief and lawyer services, he said.

The Chinese government will also ensure an adequate period for public consultation before policy promulgation, according to the vice premier.

Wang urged the US side to remove obstacles on visa, financing, participation in infrastructure construction and security review of mergers and acquisitions (M&A), so as to provide a fair and equitable environment for Chinese investors, especially state-owned enterprises.

Pritzker and Froman stressed the fundamentality of a transparent policy-making process, according to the press release, adding that the United States welcomes China to deepen reform and opening-up, promote the rule of law and enhance innovation.

The US side is looking forward to more communication between companies and governments of the two countries for a stronger bilateral economic ties, said the press release.

The 26th Session of the JCCT is slated for Nov 21 to Nov 23 in Guangzhou. US Secretary of Agriculture Tom Vilsack also participated in related activities.

On Nov 22, Wang and the US officials also attended conferences on local-level ties, healthcare cooperation and agricultural cooperation.