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Sunday, November 9, 2014

SECRETARY KERRY MEETS WITH CHINESE BUSINESS LEADERS

FROM:  U.S. STATE DEPARTMENT 
Secretary Kerry Roundtable with Chinese CEOs on Investment and Innovation
Fact Sheet
Office of the Spokesperson
Washington, DC
November 8, 2014

Secretary of State John Kerry met with Chinese business leaders in Beijing today to discuss the importance of open investment climates and innovation as critical ingredients for continued economic success. The Secretary led an interactive discussion on the value of an open, transparent and predictable investment environment in promoting entrepreneurship and job creation.

Representing $20 billion in existing investments in the United States and annual revenues of over $120 billion, the participants included the Chairmen and CEOs of about ten companies across several sectors, including real estate, technology entertainment, manufacturing, and food products.

Secretary Kerry was joined at this event by U.S. Ambassador to China Max Baucus, U.S. Deputy Secretary of Commerce Bruce Andrews, Deputy U.S. Trade Representative Robert Holleyman, and Assistant Secretary of State for Economic and Business Affairs Charles Rivkin.

The roundtable focused on areas of cooperation between the United States and China that would expand economic opportunities in both countries and strengthen the foundation for global growth. The following essential building blocks of a cutting edge, innovative economy were highlighted:

Trade and Investment: An open, transparent, and predictable investment environment gives businesses confidence to invest and helps spur innovation, economic growth, and job creation. The U.S. government welcomes foreign direct investment, including from China. Chinese investment in the United States benefits both countries and demonstrates the concept of “shared prosperity.” Our growing two-way trade and investment relationship is fueling economic growth and job creation in both countries and is a key pillar in our overall bilateral relationship.

Intellectual Property Rights: Better intellectual property rights protection and enforcement are in our common interest and are critical to economic growth in both China and the United States. Robust patent, copyright, trademark and trade secret systems provide vital incentives for innovators to take the risk to develop and commercialize new ideas. Adhering to clear and consistently-applied rules and regulations creates predictable markets where businesses are confident to invest.

Free Flow of Information: The U.S. government strongly supports respect for freedom of expression, including on the Internet. The more freely information flows, the stronger our societies become. The open exchange of information, including on the Internet, enables companies and employees to share and refine ideas, allowing the broader economy to benefit from their diversity.

At the roundtable, Secretary Kerry invited participants to apply to attend the SelectUSA 2015 Summit that U.S. Commerce Secretary Penny Pritzker will host on March 23-24, 2015 in Washington, DC. The event will connect businesses and investors from around the world with U.S. economic development organizations at the state, regional, and local levels. Participants will benefit from unique networking opportunities; one-on-one meetings; moderated panels; and discussions on the latest information on business investment. Established by President Obama in 2011, SelectUSA promotes and facilitates business investment into the United States as part of efforts to strengthen America’s global competitiveness.