May 17 (Bloomberg) -- China risks driving away innovative companies if its investment environment is perceived to be hostile, U.S. Commerce Secretary Gary Locke said today.
“America continues to have concerns about the business climate in China,” Locke said during a speech in Hong Kong, where he addressed the city’s American Chamber of Commerce.
“If innovative companies perceive an unfriendly investment environment, one of two things will happen -- they’ll either stop inventing or they’ll decide to innovate someplace else.”
U.S. companies in China are concerned by the “increasingly difficult regulatory environment” and protectionist industrial policies, the American Chamber of Commerce in China said in a report last month. Foreign companies are disadvantaged in bids for contracts valued at about $80 billion, Locke said.
To read the full, original article click on this link: China at Risk of Driving Away Innovation, Locke Says (Update1) - BusinessWeek
Author: Frederik Balfour
