American Chamber of Commerce in Shanghai

MNCs in the News-2021-September

China Ministry of Commerce (MOFCOM) looking at negative list for cross-border services trade in the country’s free trade zones (FTZs). China’s Ministry of Industry and Information Technology publishes draft regulations relating to the classification of data and data export restrictions. American Chamber of Commerce in Shanghai indicates members doing well in China, optimistic about their revenue prospects, and have little intention to move outside of China. High-level Chinese official says Pakistan needs to provide high-level security assurances for China-Pakistan Economic Corridor (CPEC). Chinese outward foreign direct investment (FDI) flows into India severely constrained by bilateral tensions, though some Chinese mobile apps have found new ways to resume operations. COSCO Shipping Ports, to acquire a 35 percent stake in container terminal at the Port of Hamburg. To settle a Japan Fair Trade Commission investigation, Apple modifies the payment policies for some App Store apps. Japan protests South Korean court order forcing Mitsubishi Heavy Industries Ltd. (MHI) to sell assets to provide compensation for wartime forced labor. Samsung calls upon United States (US) to increase tax incentives for its semiconductor FDI in the US. European Commission representative travels to Korea to encourage Korean semiconductor markets to establish operations in the European Union. US Department of Commerce demands confidential business information from Korean chipmakers because of concerns about automobile sector chip shortages. China’s measures to limit online gaming time for young gamers have potentially big longer-term implications for Korean gaming companies.

Mr. Kenneth Jarrett joins the Advisory Board of the Mr. & Mrs. S.H. Wong Center for the Study of Multinational Corporations

Mr. Kenneth Jarrett has joined the Advisory Board of the Mr. & Mrs. S.H. Wong Center for the Study of Multinational Corporations. He is a Senior Advisor with the Albright Stonebridge Group, a strategic advisory firm based in Washington, D.C. He previously served as President of the American Chamber of Commerce in Shanghai from September 2013 to December 2018. Prior to that he was the Greater China Chairman for APCO Worldwide, a Washington-based public affairs consultancy, and before that a U.S. diplomat.

MNCs in the News-2017-07-14

Chinese inward foreign direct investment (FDI) in June shows slow growth year-over-year (YOY) while the first half of 2017 showed a very slight decline in inward FDI (IFDI) YOY. Twenty percent of American firms in Shanghai plan to redirect their investment elsewhere. China’s non-financial outward FDI (OFDI) over the first six months of 2017 YOY plummets due to capital controls, tight loan supervision, and overseas factors. Almost a dozen members of American Congress ask US Securities and Exchange Commission to block Chinese-led consortium from buying Chicago Stock Exchange. At a recent conference, Chinese officials tout dramatic future growth in Chinese OFDI and moneys supplied for One Belt, One Road projects. Japan External Trade Organization and India’s provincial governments increase investment cooperation for special industrial zones to meet expansion needs of Japanese firms. Toshiba still negotiating with bidders, as company strives to fulfill government demand to keep chip technology under domestic ownership. SK Group moving to aggressively increase relations with Chinese officials. China considers investment to connect Thailand's Eastern Economic Corridor with Kunming's special economic zone. Malaysian financier central figure in probes related to plundered Malaysian state development fund 1Malaysian Development Bhd. Vietnamese government gradually opens its transportation and logistics sector, providing investment opportunities for foreign firms.

MNCs in the News-2017-07-07

Speakers at event in Beijing argue greater market openness in China might facilitate greater Chinese outward foreign direct investment (FDI) in the United States (US). Iranian, Chinese, and French, public and private firms, sign massive USD $4.8 billion deal to develop Iran’s South Pars (SP11) gas field. US considers applying economic sanctions on Chinese companies that do business with North Korea even if such activities are not prohibited by the United Nations Security Council. Japan and EU agree to broad outlines of new free trade agreement against the backdrop of US protectionist turn. China’s growing labor shortages, flowing from government policies, among other things, provide Japanese robotic manufacturing companies with investment opportunities. Hyundai Heavy Industries signs memorandum of understanding with state owned Saudi Aramco for engine plant in Saudi Arabia. Joint Korean and US Chambers of Commerce business summit results in Korean firms investing USD $12.8 billion in US. PT Freeport’s contract extension yet to be decided by Jakarta contrary to some media reports. Tender for Kuala Lumpur-Singapore high-speed rail attracts strong global interest from potential bidders. Malaysia’s Ministry of Finance issues Request for Proposal for firms interested in developing the Bandar Malaysia project. Singaporean Prime Minister Lee Hsien Long and German Chancellor Angela Merkel discuss enhancing defense, cyber security and trade ties between both countries. Vietnam to cooperate with Saudi Arabia in renewable energy projects, reflecting country’s bid to increase electricity from renewable energy sources. Real estate FDI second most popular sector for foreign investment in Vietnam because of economic growth and new government policies.

MNCs in the News-2015-03-06

China’s draft counterterrorism law raises substantial concern among foreign companies. Foreign technology firms struggle to determine best way to defend their interests in China. Deputy Commissioner of State Intellectual Property Office (SIPO) asserts China’s intellectual property laws are not used to discriminate against foreign technology businesses. Premier Li Keqiang proclaims China will significantly revise Foreign Investment Catalog to reduce foreign investment restrictions. American Chamber of Commerce in Shanghai report indicates costs and operating challenges most concern foreign firms in China. Alibaba confronts penalties in Taiwan. Connecticut’s Attorney General investigates Lenovo’s pre-loading of Superfish software. Japan works to limit the power of Google. Japan moves to facilitate foreign investment with one-stop office. South Korean business and government leaders push multi-dimensional opportunities between the two countries. POSCO partners with Saudi Arabia sovereign wealth fund about possible automobile joint venture in Saudi Arabia.