China's moves to boost foreign business also helps Chinese companies

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The Chinese government's latest efforts to make it easier for foreign businesses to operate locally come as China's own companies seek to be global players.

"To me what is key about the opening is where it comes from: China is looking to globalize its market, not necessarily liberalize it,‘’ said Chantal Grinderslev, partner at Shanghai-based investment management consulting firm Z-Ben. She added that difference will affect how companies — in her case, financial firms — choose to expand into China.

In the meantime, the entrance of foreign financial institutions could help Chinese individuals and companies get better access to global markets, said Ross, who is also partner at law firm WilmerHale. For example, he noted, "There are weaknesses in the Chinese regulatory system that hurt the ambitions of the Chinese financial institutions in the U.S."Another area in which China is responding to foreign business complaints is intellectual property protection.

The foreign investment law was passed in March and aims to improve intellectual property protection, prevent forced technology transfer and put overseas companies on equal footing with local players. Just hours before Trump and Liu He, China's top trade negotiator, held their press conference at the conclusion of high-level trade talks earlier this month, the

"China today is much better than it was 30 to 40 years ago," said Xiaodong Lee, founder and CEO of Fuxi Institution, a consultancy on internet development in China that promotes cross-border connections.

 

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