Trade and investment offers a big loophole for Chinese and foreign firms.
Not only would this be good for Chinese savers and foreign investors and regulators, but ultimately it would boost the fortunes of legitimate Chinese companies, too.
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The combination ticks every box, bringing a presence in key markets for Chinese clients and exposure to a sophisticated foreign firm with skills in areas like investment banking and foreign-currency funding.
Thompson also may tie the PNTR bill to legislation requiring greater transparency for stock and bond offerings by Chinese and other foreign government-owned enterprises.
The U.S. has become the leading destination for Chinese tourists outside Asia, and Chinese travelers have one of the highest per capita spending ratios of all foreign visitors.
Amateur hour maybe, yet it would be foolhardy for GM, Volkswagen and other foreign makers to ignore Chinese companies like BYD.
Editor's note: Dan Harris, the Seattle lawyer quoted above, says in a subsequent blog posting that he would love to hear from anyone with information (or even a good feel for) regarding VAT collection efficiency with respect to foreign and Chinese companies.
Indeed, even Indonesian maids (after Filipinas, the largest group of amahs), and Chinese or foreign passers-by who linger for even a moment are likely to be invited to share the snacks.
For top Chinese talent, the glamour and status once associated with employment at a foreign multinational is beginning to lose its sparkle.
Beijing also has opened the door wider for foreign investors to access the domestic bond market, though Chinese banks and mutual funds still make up the biggest chunk of buyers.
They are checking share prices, looking for business leads and doing much of their browsing on Chinese-language software and accessing Chinese rather than foreign websites.
Government representatives from the Ministry of Commerce, the State Council, the Ministry of Foreign Affairs and various Chambers of Commerce were all bullish on the opportunities for Chinese enterprises to go out and succeed.
Chinese foreign ministry spokesman Hong Lei called for restraint from all sides to resolve the "complex and sensitive" situation.
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"China again calls for the two countries to immediately stop hostility and respect each other's sovereignty, " Liu Weiming, a spokesman for the Chinese Ministry of Foreign Affairs, said at a regular news briefing Thursday.
Xinhua news agency, China Daily, Global Times and other state mouthpieces see Apple boss Tim Cook's apology for any misunderstandings that had led to the perception that Apple's attitude was arrogant in its dealings with Chinese consumers as better late than never and call for an end to "double standards" and privileges for foreign companies in China.
Expectations that Chinese companies will regain some of their pricing power this year, optimism about U.S. demand and the further opening of Chinese capital markets to foreign central banks are among the current drivers for these funds.
Harner, a fluent Chinese speaker who has lived in Asia for 30 years, says China's opening the door to new foreign and private owners indicates that it has learned from Japan's decadelong mire in the 1990s.
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