USCBC 2017 Board of Directors' Statement of Priorities
The US-China Business Council has released a statement of priority actions needed to continue to build a strong, mutually beneficial commercial relationship between the United States and China.The American business community is a partner to both governments in achieving the shared goal of tangible progress in the coming year. Through this declaration of our priorities – the sixth issued by USCBC’s board, American business leaders are highlighting the need for the US and Chinese governments to create a stronger foundation for what is the most important bilateral relationship in the global economy.
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USCBC Works to Establish Capital Control Channel with PBOC
Companies have a new channel to resolve delays in current account transactions such as receiving payments from domestic customers, payment of dividends or royalties, and even routine trade payments, according to a People’s Bank of China (PBOC) statement issued February 28. PBOC officials indicated that the announcement was made in response to a US-China Business Council (USCBC) delegation meeting with PBOC senior officials on February 20 in Beijing. During the meeting, USCBC President John Frisbie emphasized that companies understand the challenge of managing capital flows and stabilizing the renminbi, but the limits on regular business transactions had increased uncertainty in the investment environment and were undermining investor confidence.
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USCBC’s Forecast 2017
On January 25, 2017, the US-China Business Council hosted Forecast 2017, a half-day program featuring comprehensive projections for the Chinese business and political environment in the year ahead. This annual event joined leading China business analysts and policymakers to discuss key challenges and offered an opportunity for companies to learn more about what may be ahead just five days into the new Trump administration and what Congress’s priorities will be, as well as other key issues that companies will contend with in China in 2017 and beyond.
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