At a luncheon today hosted by the U.S.-China Business Council, Commerce Secretary Gary Locke laid out a path to unlock the full potential of the U.S.-China commercial relationship. Locke discussed how leveling the playing field for U.S. businesses in the Chinese market will help spur global innovation and economic growth and create jobs in America.
Locke applauded steps China has taken to open its markets since its accession to the World Trade Organization (WTO) and progress made at the recent Joint Commission on Commerce and Trade meeting. And he cited examples of American and Chinese companies working together to solve big, global challenges. | Remarks
But the Secretary also discussed pressing concerns expressed by the U.S. business community about the commercial environment in China, including inadequate intellectual property protection, market-access issues, and lack of transparency in government decision-making.
Saying the current U.S.-China economic relationship is at a turning point in which previous policies and practices simply won’t do anymore, Locke urged China to deal meaningfully with concerns expressed by foreign businesses and for the international community to work together to encourage China to carry out promised reforms. Remarks at U.S.-China Business Council Luncheon
Locke expressed hope for a cooperative economic relationship, one that fosters long-term economic growth in both our countries.
The U.S.-China Business Council is a private, nonpartisan and nonprofit organization that represents, advises and advocates for roughly 220 American companies that do business with China. The event attendees consisted of members of the Council, business leaders and policymakers.