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US firms in China expect benefits in Beijing stimulus: poll
Beijing (AFP) April 27, 2009 Two thirds of American companies operating in China expect to benefit from a huge stimulus package unveiled by Beijing to counter the global crisis, a US business association said Monday. The figure was one of the findings in a 2009 report on the state of US business released by the American Chamber of Commerce in China. "Two thirds of US companies in China expect to directly or indirectly benefit from China's four-trillion-yuan (584-billion-dollar) stimulus package," the chamber said in a press release. The white paper was based on a survey of more than 400 US companies in China, the chamber said. The chamber called on Beijing to ensure its package would also be open to US business participation, while saying the corresponding US package should do the same for Chinese enterprises. "It is important that both the Chinese and American stimulus packages are implemented efficiently and openly to maximise their economic impact," it said. To this end, the white paper recommended faster Chinese movement toward accession to the World Trade Organisation's Agreement on Government Procurement. The agreement's purpose is to open up as much procurement-related business as possible to international competition. Chinese accession to the agreement would "help ensure that efficiency takes priority over politics," according to the press release. Beijing announced the four-trillion-yuan stimulus package in November to lift growth after it had become clear its economy was going to be more severely impacted by the global crisis than initially thought. China's economy grew by nine percent last year, but growth could slow to 6.5 percent this year, the lowest since 1990, according to World Bank forecasters. Share This Article With Planet Earth
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