Release Date: Dec 18, 2007Contact: 888-249-NEWS
Chamber Talks with China on Global Innovation and Regulatory Cooperation
Seeks Market Driven Competition and Intellectual Property Protection
WASHINGTON D.C.—The U.S. Chamber of Commerce today supported the U.S.-China Innovation Conference between U.S. and Chinese government officials and business leaders. At the event, which was closely linked to the U.S.-China Strategic Economic Dialogue, government and industry representatives discussed the global nature of innovation, pro-competitive regulatory policies that benefit consumers, intellectual property (IP) challenges, and ways to stimulate economic growth through innovation.
"We applaud the U.S. and Chinese Governments for taking this critical step to deepen bilateral relations and expand cooperation with the private sector on innovation policy opportunities," said U.S. Chamber of Commerce Senior Director of Greater China Jeremie Waterman. "American business has long been a major contributor to China's efforts to build an Innovation Society. Concerns are rising, however, that certain policies seek to inhibit foreign competition and undermine the value of foreign IP."
According to the Chamber's September 2007 report on the state of U.S.-China commercial relations, China's recent moves to implement government-led innovation and industrial policies that clash with open markets raise questions about future policies in these areas. To establish a framework for cooperation and improve information exchange, the Chamber co-led a delegation of American businesses at the U.S.-China Innovation Conference in Beijing, which was organized by the U.S. Department of Commerce, the U.S. Department of State, and the PRC Ministry of Science and Technology.
"The Chamber— through its Global Regulatory Cooperation (GRC) Initiative and Global Intellectual Property Center—will continue pressing for positive changes that enhance market access, allow the lawful exercise of IP rights, and promote bilateral trade and investment," said Waterman. "Ultimately, nonmarket-based approaches to innovation will only undermine China's own efforts to develop into a full-fledged Innovation Society."
The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.