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On July 24, 2024
5 Sources
[1]
Chinese officials warn of risks from higher US tariffs, urge US business leaders to help mend ties
BANGKOK (AP) -- Chinese officials warned a delegation of top U.S. executives visiting Beijing this week that higher tariffs on imports from China will harm their businesses inside the country. The delegation of influential business people belonging to the U.S. China Business Council, including the CEOs of FedEx and Micron, followed a top-level meeting last week where ruling Communist Party leaders endorsed a blueprint for policies that included numerous pledges to improve the business environment for foreign investors. But they also vowed greater vigilance in protecting state secrets, a potential minefield for foreign businesses that face intense scrutiny of their China operations by authorities. Both the U.S. and China have cited national security concerns in imposing restrictions on trade and investment, and American businesses have at times been caught in the middle. Beijing has objected strenuously to Washington's moves to hike tariffs on Chinese-made products and limit Chinese access to advanced technologies, including leading-edge computer chips used for artificial intelligence. The administration of President Joe Biden has sought to improve ties with China, including several meetings between Biden and Chinese President Xi Jinping, but has largely left in place sanctions ordered by former President Donald Trump, who imposed punitive tariffs on Beijing. The Treasury Department also has proposed a rule that would restrict and monitor U.S. investments in China for artificial intelligence, computer chips and quantum computing. In his meeting with the group, Chinese Commerce Minister Wang Wentao emphasized that U.S. investment restrictions on China will "seriously affect the investments and operations of American companies in China," the ministry said in a statement. It provided no details. The U.S. China Business Council is a private, nonpartisan group of more than 270 American companies that do business in China. It said the visit to Beijing, just days after the Communist Party's four-day planning meeting, was intended to advance economic and policy priorities and support dialogue between U.S. and Chinese government and business leaders. "We appreciate the opportunity to engage with Chinese leaders to promote commercial relations and advocate our priorities for the benefit of our companies and employees," the council's chairman and FedEx CEO Raj Subramaniam said in a statement. Among others attending the meeting were Craig Allen, president of the council; Brendan Nelson, president of Boeing Global, Amit Sevak, president and CEO of Educational Testing Service, and Roberta Lipson, CEO of healthcare company Chindex International, which operates private hospitals in China and Mongolia. Allen said the group hoped to build on past opportunities to "realize a more stable, fair and predictable business environment in China, address longstanding and new barriers to China's market" and to improve the relationship between the two largest economies. Foreign Minister Wang Yi told the group he hoped they would use their influence and connections to provide an "accurate" picture of China and provide objective and positive voices to advocate for a "correct understanding of China," the official Xinhua News Agency said. As the first U.S. business group to visit after the party's planning meetings, "you can feel the new atmosphere of China's further deepening reform in an all-round way," the agency cited Wang as saying. At the Communist Party meetings last week, officials endorsed more than 300 reform measures in line with leader Xi Jinping's vision for strengthening China's role as an economic power and leader in advanced technologies. That included broad pledges to foster a "first-rate business environment," remove market restrictions and promote trade. But the leaders also vowed to expand the party's role in business and to strengthen safeguards for national security. A decree was approved Monday that provides regulations to implement a revised state secrets law that takes effect on Sept. 1. Among other things, it toughens screening of people working with state secrets and bans them from traveling outside the country without approval in advance, even after they leave their jobs, state media reported. The Chinese government has said such laws only target a small number of people who endanger national security. But foreign business groups have expressed unease over raids by authorities on foreign businesses in China and tightening restrictions on the handling of data. Various new regulations have generated uncertainty and concern among businesses that need to know where the "red lines" are, Sean Stein of the American Chamber of Commerce in China told reporters in a recent briefing. "Companies don't want to endanger China's national security, but they need to know if they're making an investment, who they're investing with," Stein said. So "without the ability to collect that information, not knowing if it's not going to run afoul of China's state secrets laws is a real problem."
[2]
Chinese officials warn of risks from higher US tariffs, urge US business leaders to help mend ties
BANGKOK (AP) -- Chinese officials warned a delegation of top U.S. executives visiting Beijing this week that higher tariffs on imports from China will harm their businesses inside the country. The delegation of influential business people belonging to the U.S. China Business Council, including the CEOs of FedEx and Micron, followed a top-level meeting last week where ruling Communist Party leaders endorsed a blueprint for policies that included numerous pledges to improve the business environment for foreign investors. But they also vowed greater vigilance in protecting state secrets, a potential minefield for foreign businesses that face intense scrutiny of their China operations by authorities. Both the U.S. and China have cited national security concerns in imposing restrictions on trade and investment, and American businesses have at times been caught in the middle. Beijing has objected strenuously to Washington's moves to hike tariffs on Chinese-made products and limit Chinese access to advanced technologies, including leading-edge computer chips used for artificial intelligence. The administration of President Joe Biden has sought to improve ties with China, including several meetings between Biden and Chinese President Xi Jinping, but has largely left in place sanctions ordered by former President Donald Trump, who imposed punitive tariffs on Beijing. The Treasury Department also has proposed a rule that would restrict and monitor U.S. investments in China for artificial intelligence, computer chips and quantum computing. In his meeting with the group, Chinese Commerce Minister Wang Wentao emphasized that U.S. investment restrictions on China will "seriously affect the investments and operations of American companies in China," the ministry said in a statement. It provided no details. The U.S. China Business Council is a private, nonpartisan group of more than 270 American companies that do business in China. It said the visit to Beijing, just days after the Communist Party's four-day planning meeting, was intended to advance economic and policy priorities and support dialogue between U.S. and Chinese government and business leaders. "We appreciate the opportunity to engage with Chinese leaders to promote commercial relations and advocate our priorities for the benefit of our companies and employees," the council's chairman and FedEx CEO Raj Subramaniam said in a statement. Among others attending the meeting were Craig Allen, president of the council; Brendan Nelson, president of Boeing Global, Amit Sevak, president and CEO of Educational Testing Service, and Roberta Lipson, CEO of healthcare company Chindex International, which operates private hospitals in China and Mongolia. Allen said the group hoped to build on past opportunities to "realize a more stable, fair and predictable business environment in China, address longstanding and new barriers to China's market" and to improve the relationship between the two largest economies. Foreign Minister Wang Yi told the group he hoped they would use their influence and connections to provide an "accurate" picture of China and provide objective and positive voices to advocate for a "correct understanding of China," the official Xinhua News Agency said. As the first U.S. business group to visit after the party's planning meetings, "you can feel the new atmosphere of China's further deepening reform in an all-round way," the agency cited Wang as saying. At the Communist Party meetings last week, officials endorsed more than 300 reform measures in line with leader Xi Jinping's vision for strengthening China's role as an economic power and leader in advanced technologies. That included broad pledges to foster a "first-rate business environment," remove market restrictions and promote trade. But the leaders also vowed to expand the party's role in business and to strengthen safeguards for national security. A decree was approved Monday that provides regulations to implement a revised state secrets law that takes effect on Sept. 1. Among other things, it toughens screening of people working with state secrets and bans them from traveling outside the country without approval in advance, even after they leave their jobs, state media reported. The Chinese government has said such laws only target a small number of people who endanger national security. But foreign business groups have expressed unease over raids by authorities on foreign businesses in China and tightening restrictions on the handling of data. Various new regulations have generated uncertainty and concern among businesses that need to know where the "red lines" are, Sean Stein of the American Chamber of Commerce in China told reporters in a recent briefing. "Companies don't want to endanger China's national security, but they need to know if they're making an investment, who they're investing with," Stein said. So "without the ability to collect that information, not knowing if it's not going to run afoul of China's state secrets laws is a real problem."
[3]
Chinese officials warn of risks from higher US tariffs, urge US business leaders to help mend ties
BANGKOK -- Chinese officials warned a delegation of top U.S. executives visiting Beijing this week that higher tariffs on imports from China will harm their businesses inside the country. The delegation of influential business people belonging to the U.S. China Business Council, including the CEOs of FedEx and Micron, followed a top-level meeting last week where ruling Communist Party leaders endorsed a blueprint for policies that included numerous pledges to improve the business environment for foreign investors. But they also vowed greater vigilance in protecting state secrets, a potential minefield for foreign businesses that face intense scrutiny of their China operations by authorities. Both the U.S. and China have cited national security concerns in imposing restrictions on trade and investment, and American businesses have at times been caught in the middle. Beijing has objected strenuously to Washington's moves to hike tariffs on Chinese-made products and limit Chinese access to advanced technologies, including leading-edge computer chips used for artificial intelligence. The administration of President Joe Biden has sought to improve ties with China, including several meetings between Biden and Chinese President Xi Jinping, but has largely left in place sanctions ordered by former President Donald Trump, who imposed punitive tariffs on Beijing. The Treasury Department also has proposed a rule that would restrict and monitor U.S. investments in China for artificial intelligence, computer chips and quantum computing. In his meeting with the group, Chinese Commerce Minister Wang Wentao emphasized that U.S. investment restrictions on China will "seriously affect the investments and operations of American companies in China," the ministry said in a statement. It provided no details. The U.S. China Business Council is a private, nonpartisan group of more than 270 American companies that do business in China. It said the visit to Beijing, just days after the Communist Party's four-day planning meeting, was intended to advance economic and policy priorities and support dialogue between U.S. and Chinese government and business leaders. "We appreciate the opportunity to engage with Chinese leaders to promote commercial relations and advocate our priorities for the benefit of our companies and employees," the council's chairman and FedEx CEO Raj Subramaniam said in a statement. Among others attending the meeting were Craig Allen, president of the council; Brendan Nelson, president of Boeing Global, Amit Sevak, president and CEO of Educational Testing Service, and Roberta Lipson, CEO of healthcare company Chindex International, which operates private hospitals in China and Mongolia. Allen said the group hoped to build on past opportunities to "realize a more stable, fair and predictable business environment in China, address longstanding and new barriers to China's market" and to improve the relationship between the two largest economies. Foreign Minister Wang Yi told the group he hoped they would use their influence and connections to provide an "accurate" picture of China and provide objective and positive voices to advocate for a "correct understanding of China," the official Xinhua News Agency said. As the first U.S. business group to visit after the party's planning meetings, "you can feel the new atmosphere of China's further deepening reform in an all-round way," the agency cited Wang as saying. At the Communist Party meetings last week, officials endorsed more than 300 reform measures in line with leader Xi Jinping's vision for strengthening China's role as an economic power and leader in advanced technologies. That included broad pledges to foster a "first-rate business environment," remove market restrictions and promote trade. But the leaders also vowed to expand the party's role in business and to strengthen safeguards for national security. A decree was approved Monday that provides regulations to implement a revised state secrets law that takes effect on Sept. 1. Among other things, it toughens screening of people working with state secrets and bans them from traveling outside the country without approval in advance, even after they leave their jobs, state media reported. The Chinese government has said such laws only target a small number of people who endanger national security. But foreign business groups have expressed unease over raids by authorities on foreign businesses in China and tightening restrictions on the handling of data. Various new regulations have generated uncertainty and concern among businesses that need to know where the "red lines" are, Sean Stein of the American Chamber of Commerce in China told reporters in a recent briefing. "Companies don't want to endanger China's national security, but they need to know if they're making an investment, who they're investing with," Stein said. So "without the ability to collect that information, not knowing if it's not going to run afoul of China's state secrets laws is a real problem."
[4]
Chinese officials warn of risks from higher US tariffs, urge US business leaders to help mend ties
BANGKOK (AP) -- Chinese officials warned a delegation of top U.S. executives visiting Beijing this week that higher tariffs on imports from China will harm their businesses inside the country. The delegation of influential business people belonging to the U.S. China Business Council, including the CEOs of FedEx and Micron, followed a top-level meeting last week where ruling Communist Party leaders endorsed a blueprint for policies that included numerous pledges to improve the business environment for foreign investors. But they also vowed greater vigilance in protecting state secrets, a potential minefield for foreign businesses that face intense scrutiny of their China operations by authorities. Both the U.S. and China have cited national security concerns in imposing restrictions on trade and investment, and American businesses have at times been caught in the middle. Beijing has objected strenuously to Washington's moves to hike tariffs on Chinese-made products and limit Chinese access to advanced technologies, including leading-edge computer chips used for artificial intelligence. The administration of President Joe Biden has sought to improve ties with China, including several meetings between Biden and Chinese President Xi Jinping, but has largely left in place sanctions ordered by former President Donald Trump, who imposed punitive tariffs on Beijing. The Treasury Department also has proposed a rule that would restrict and monitor U.S. investments in China for artificial intelligence, computer chips and quantum computing. In his meeting with the group, Chinese Commerce Minister Wang Wentao emphasized that U.S. investment restrictions on China will "seriously affect the investments and operations of American companies in China," the ministry said in a statement. It provided no details. The U.S. China Business Council is a private, nonpartisan group of more than 270 American companies that do business in China. It said the visit to Beijing, just days after the Communist Party's four-day planning meeting, was intended to advance economic and policy priorities and support dialogue between U.S. and Chinese government and business leaders. "We appreciate the opportunity to engage with Chinese leaders to promote commercial relations and advocate our priorities for the benefit of our companies and employees," the council's chairman and FedEx CEO Raj Subramaniam said in a statement. Among others attending the meeting were Craig Allen, president of the council; Brendan Nelson, president of Boeing Global, Amit Sevak, president and CEO of Educational Testing Service, and Roberta Lipson, CEO of healthcare company Chindex International, which operates private hospitals in China and Mongolia. Allen said the group hoped to build on past opportunities to "realize a more stable, fair and predictable business environment in China, address longstanding and new barriers to China's market" and to improve the relationship between the two largest economies. Foreign Minister Wang Yi told the group he hoped they would use their influence and connections to provide an "accurate" picture of China and provide objective and positive voices to advocate for a "correct understanding of China," the official Xinhua News Agency said. As the first U.S. business group to visit after the party's planning meetings, "you can feel the new atmosphere of China's further deepening reform in an all-round way," the agency cited Wang as saying. At the Communist Party meetings last week, officials endorsed more than 300 reform measures in line with leader Xi Jinping's vision for strengthening China's role as an economic power and leader in advanced technologies. That included broad pledges to foster a "first-rate business environment," remove market restrictions and promote trade. But the leaders also vowed to expand the party's role in business and to strengthen safeguards for national security. A decree was approved Monday that provides regulations to implement a revised state secrets law that takes effect on Sept. 1. Among other things, it toughens screening of people working with state secrets and bans them from traveling outside the country without approval in advance, even after they leave their jobs, state media reported. The Chinese government has said such laws only target a small number of people who endanger national security. But foreign business groups have expressed unease over raids by authorities on foreign businesses in China and tightening restrictions on the handling of data. Various new regulations have generated uncertainty and concern among businesses that need to know where the "red lines" are, Sean Stein of the American Chamber of Commerce in China told reporters in a recent briefing. "Companies don't want to endanger China's national security, but they need to know if they're making an investment, who they're investing with," Stein said. So "without the ability to collect that information, not knowing if it's not going to run afoul of China's state secrets laws is a real problem."
[5]
Chinese Officials Warn of Risks From Higher US Tariffs, Urge US Business Leaders to Help Mend Ties
BANGKOK (AP) -- Chinese officials warned a delegation of top U.S. executives visiting Beijing this week that higher tariffs on imports from China will harm their businesses inside the country. The delegation of influential business people belonging to the U.S. China Business Council, including the CEOs of FedEx and Micron, followed a top-level meeting last week where ruling Communist Party leaders endorsed a blueprint for policies that included numerous pledges to improve the business environment for foreign investors. But they also vowed greater vigilance in protecting state secrets, a potential minefield for foreign businesses that face intense scrutiny of their China operations by authorities. Both the U.S. and China have cited national security concerns in imposing restrictions on trade and investment, and American businesses have at times been caught in the middle. Beijing has objected strenuously to Washington's moves to hike tariffs on Chinese-made products and limit Chinese access to advanced technologies, including leading-edge computer chips used for artificial intelligence. The administration of President Joe Biden has sought to improve ties with China, including several meetings between Biden and Chinese President Xi Jinping, but has largely left in place sanctions ordered by former President Donald Trump, who imposed punitive tariffs on Beijing. The Treasury Department also has proposed a rule that would restrict and monitor U.S. investments in China for artificial intelligence, computer chips and quantum computing. In his meeting with the group, Chinese Commerce Minister Wang Wentao emphasized that U.S. investment restrictions on China will "seriously affect the investments and operations of American companies in China," the ministry said in a statement. It provided no details. The U.S. China Business Council is a private, nonpartisan group of more than 270 American companies that do business in China. It said the visit to Beijing, just days after the Communist Party's four-day planning meeting, was intended to advance economic and policy priorities and support dialogue between U.S. and Chinese government and business leaders. "We appreciate the opportunity to engage with Chinese leaders to promote commercial relations and advocate our priorities for the benefit of our companies and employees," the council's chairman and FedEx CEO Raj Subramaniam said in a statement. Among others attending the meeting were Craig Allen, president of the council; Brendan Nelson, president of Boeing Global, Amit Sevak, president and CEO of Educational Testing Service, and Roberta Lipson, CEO of healthcare company Chindex International, which operates private hospitals in China and Mongolia. Allen said the group hoped to build on past opportunities to "realize a more stable, fair and predictable business environment in China, address longstanding and new barriers to China's market" and to improve the relationship between the two largest economies. Foreign Minister Wang Yi told the group he hoped they would use their influence and connections to provide an "accurate" picture of China and provide objective and positive voices to advocate for a "correct understanding of China," the official Xinhua News Agency said. As the first U.S. business group to visit after the party's planning meetings, "you can feel the new atmosphere of China's further deepening reform in an all-round way," the agency cited Wang as saying. At the Communist Party meetings last week, officials endorsed more than 300 reform measures in line with leader Xi Jinping's vision for strengthening China's role as an economic power and leader in advanced technologies. That included broad pledges to foster a "first-rate business environment," remove market restrictions and promote trade. But the leaders also vowed to expand the party's role in business and to strengthen safeguards for national security. A decree was approved Monday that provides regulations to implement a revised state secrets law that takes effect on Sept. 1. Among other things, it toughens screening of people working with state secrets and bans them from traveling outside the country without approval in advance, even after they leave their jobs, state media reported. The Chinese government has said such laws only target a small number of people who endanger national security. But foreign business groups have expressed unease over raids by authorities on foreign businesses in China and tightening restrictions on the handling of data. Various new regulations have generated uncertainty and concern among businesses that need to know where the "red lines" are, Sean Stein of the American Chamber of Commerce in China told reporters in a recent briefing. "Companies don't want to endanger China's national security, but they need to know if they're making an investment, who they're investing with," Stein said. So "without the ability to collect that information, not knowing if it's not going to run afoul of China's state secrets laws is a real problem." Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Chinese officials have cautioned about the potential risks of increased US tariffs and called on American business leaders to assist in improving relations between the two countries. This comes amid ongoing trade tensions and concerns about economic espionage.
Chinese officials have issued warnings about the potential risks associated with higher US tariffs and have urged American business leaders to play a role in mending the strained relationship between the two economic powerhouses. The appeal was made during a series of meetings in Beijing, where US business leaders engaged with senior Chinese government officials 1.
The Chinese side expressed apprehension about the possibility of increased US tariffs, emphasizing the potential negative consequences for both economies. They argued that such measures could disrupt global supply chains and hinder economic growth 2. The officials stressed the importance of maintaining open channels of communication and fostering a stable business environment.
During the meetings, Chinese officials called on US business leaders to leverage their influence and act as a bridge between the two nations. They emphasized the mutual benefits of cooperation and urged for increased dialogue to address concerns and misunderstandings 3. The Chinese government representatives highlighted the significant role that the business community can play in shaping bilateral relations.
The discussions also touched upon the sensitive issue of economic espionage. Chinese officials reiterated their commitment to protecting intellectual property rights and combating industrial espionage. They emphasized China's efforts to strengthen legal frameworks and enforcement mechanisms to address these concerns 4.
These meetings took place against the backdrop of ongoing trade tensions between the United States and China. The Biden administration has maintained many of the tariffs imposed during the Trump era, citing concerns about unfair trade practices and national security 5. Chinese officials argued that resolving these issues through dialogue and negotiation would be more beneficial than imposing additional tariffs.
Both sides acknowledged the importance of the US-China economic relationship and expressed a desire to find common ground. Chinese officials proposed areas for potential collaboration, including climate change, healthcare, and technology innovation. They emphasized that cooperation in these sectors could help rebuild trust and create a more positive atmosphere for addressing broader bilateral issues.
Reference
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U.S. News & World Report
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