Home>News Center>China

US to blame for China trade friction: Amcham
Updated: 2005-09-13 16:38

In the same survey, 68 percent stated they were "profitable" or "very profitable" last year.

The fact that a large number of foreign companies are making money at all in China is a fairly recent phenomenon, linked to China's entry into the World Trade Organization (WTO) in late 2001, Martin said.

"The change from not profitable to profitable clearly is coincident with the WTO," he said.

"When China entered the WTO and started implementing WTO rules, companies started making much more money."

WTO entry dismantled a large number of rules obstructing business in China, allowing wholly foreign-owned enterprises into a broader range of industries than before and so giving foreign investors an immediate profit boost, he said.

While WTO membership has improved the business environment for many foreign enterprises, some select industries are still facing insurmountable obstacles, according to Martin.

"In most countries, construction is hard to get into but the Chinese have put so many conditions on getting into the construction industry that companies are really unable to get in there."

Oil exploration is another area that should be opened up, since China itself might also benefit from such a move, he argued.

"China should open up its oil exploration, particularly onshore, more to foreign companies," he said. "Largely it's been a domestic game."

Page: 123

US Navy destroyer visits Qingdao
Buddhist monks attend MBA program in Shanghai
President Hu visits Mexico
  Today's Top News     Top China News

Oil prices too high to stock strategic reserve



US to blame for China trade friction: Amcham



Fresh nuke talks bid to end nuclear impasse



Hu signs trade pacts with Mexico's Fox



Many IMF directors want gradual yuan moves



Human tests prove AIDS vaccine safe


  College applicants cheated of US$12.3 million
  Typhoon Khanun hits East China, killing 14
  Hu signs trade pacts with Mexico's Fox
  Boeing sells first private jet in China
  Typhoon hits East China, killing 14
  Five appear in court over cockle pickers case
  Go to Another Section  
  Story Tools  
  Related Stories  
Academic: China to be free trade driver
US should not impose excessive trade limits
China opposes US further trade restriction
World seeks trade breakthrough in China
China, US open trade talks with agreements expected
Bo: Respect our trade rights
  News Talk  
  It is time to prepare for Beijing - 2008