From Wall Street Journal, via The China Daily:
Four years after China joined the World Trade Organization, foreign companies give Beijing a fairly positive report card for moves such as cutting tariffs and opening up financial services — but they say there is a lot left to do in other areas.
China’s imports have surged since the country joined the trade body in December 2001 and opened its markets. US exports to China last year were up more than 80% from 2001. Companies abroad anticipate more benefits when China phases in additional market openings, particularly in services, in the next year. Still, foreign companies in China continue to face some major challenges.
Many of their complaints focus on rampant violations of intellectual-property rights, restrictions on distribution and a lack of transparency in regulations. China’s exports to the US, by value, are six times as great as its imports from America and are expected to create a trade imbalance this year of $200 billion.
