US expresses concern over treatment of American companies in China
Date
5/11/2023 1:39:32 AM
(MENAFN) During a press conference with Spanish Foreign Minister Jose Manuel Albares at the State Department, Secretary of State Antony Blinken expressed concern over the treatment of American companies and other foreign enterprises in China. He highlighted reports of raids on US firms in China and stated that they are not being treated the same way as Chinese businesses around the world.
Blinken was responding to a question about reports of US companies operating in China being raided by police under the country's new counterespionage law, which accuses them of espionage for sharing data with the US. He emphasized that the actions that China takes regarding foreign businesses operating in the country will greatly impact its ability to create a positive business environment that attracts foreign investment.
According to multiple reports earlier this week, Chinese state security authorities conducted raids on several offices of the international consulting firm Capvision. The company's office in Suzhou was raided, with employees being interrogated and office devices searched, as reported by a Jiangsu provincial television station. This incident further highlights the concerns expressed by Blinken about the treatment of American companies in China.
CNN has also reported that in recent weeks, Chinese officials have interviewed employees at the Shanghai office of American consulting firm Bain & Company and closed the Beijing office of American corporate due diligence company Mintz Group. These incidents add to the growing concerns of American companies operating in China and the treatment they receive in comparison to Chinese businesses around the world.
The unequal treatment of American companies in China is a concern shared by many allies and partners. Blinken's remarks emphasize the need for China to create a positive business environment that attracts foreign investment and treats foreign companies fairly. The actions taken by China regarding foreign businesses operating in the country will have a significant impact on its ability to maintain positive business relationships with foreign countries and attract foreign investment in the future.
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