BEIJING, May 17 (UPI) -- Lack of transparency and rampant piracy are major obstacles for U.S. companies doing business in China, the American Chamber of Commerce in Beijing says.
"China has a very positive commercial environment," chamber President Charles Martin said at a conference unveiling the group's annual report on China's investment climate, based on surveys of over 200 U.S. companies in China, the South China Morning Post reported Wednesday.
But he said protection of intellectual property rights remained a problem despite repeated crackdowns on piracy.
Among those surveyed, 55 percent of companies said they were negatively affected by piracy, and 41 percent reported increased counterfeiting of their products. The problem is costing U.S. companies billions of dollars, the report said.
Among other problems encountered in China, more than 70 percent of firms complained of unclear rules, bureaucracy, lack of transparency and inconsistency in the interpretation of regulations.
The report said China lagged far behind in honoring its WTO commitments in achieving greater transparency in formulating and implementing laws and regulations.
The chamber has 2,100 members in China.
