Deloitte chairman: Doing business 'needs to be easier'

Foreign investors should take a longer-term view of investing in China, even if that means thinner margins, cut-throat competition, stricter regulations and curbs on cross-border capital flow.

That is according to Steve Almond, global chairman of Deloitte Touche Tohmatsu Ltd, the world's largest professional service company.

Almond said that despite the country moving rapidly up what he calls the "competitiveness index", there is still a fair way to go on the comparable "ease of doing business index".