AmCham report hopes for more Chinese reform

The American Chamber of Commerce in South China has assessed the ongoing reform in the world's second-largest economy in a new report, while nodding to its impact on businesses. After three months of research on 351 enterprises, mostly foreign joints, the chamber released its sixth white paper on China's business environment this week, in response to investor interests and concerns. Harley Seyedin, president of the chamber, said, "More than two-thirds of the paper is dedicated to reform. We make a single recommendation: continue moving forward." According to the report, more than 84 percent of the study participants view China's current business environment as "outstanding," "very good" or "good." And 60 percent plan to increase their investment in China over the next three years. "We seek not to conserve what came before but rather to build newer, fairer and more profitable structures upon the robust foundation," Seyedin said. He will find out if his call is heard by the Chinese government in early March, when China's top legislature and political advisory body have their annual meetings to set general policies on economic and social issues. "Reform" will no doubt be a key word at the sessions this year. The Central Committee of the Communist Party of China announced a 60-point decision on comprehensively deepening reform in November. It vows to give foreign investors easier access to sectors including child care and senior care, accounting and auditing, commercial logistics and e-commerce, education and culture. In the eyes of Zhang Liqun, an economist with the Development Research Center of China's State Council, reform and opening-up are inseparable in China's economy. The country's new round of reform covers finance and taxation, administration, investment and foreign trade, resulting in a higher-level opening, said Zhang.