Mon, Sep 23, 2013 - Page 15 News List

US firms await Xi’s reform drive

‘OPENING SALVO’:The third plenum meeting in November is traditionally the time for Beijing to announce any major economic policy change

AFP, WASHINGTON

US businesses’ top concern is the increasing cost of doing business in China, according to AmCham Shanghai’s annual survey of members, which include 1,800 corporations and 4,000 individuals.

Chinese government corruption is the No. 2 concern, followed by worries about intellectual property rights.

Peter Sykes, president of Asia Pacific for Dow Chemical, said his company employs more than 500 scientists and researchers in China, the firm’s second-largest international market.

The creation of intellectual property there “balances the ledger,” he said.

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