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APEC WLN Delegates Confident of Business in China
The vice president of Canada-based American-Asian & Associates Corp. was brimming with confidence Friday for her company's investment potential in China.
"China is a large market, and we are fully confident of investing here," said Maxine Westway during a business forum with Women Leaders Network (WLN) Meeting of Asian-Pacific Economic Cooperation (APEC).
Westway said she has done business in China since 1995, setting up consulting companies in Beijing, Chengdu and Huzhou.
"It is probably difficult for a foreigner to do business in China, but I have developed many friends in China and very much enjoy working here," she said.
Based on her own experience, she said foreigners who want to do business with the Chinese must establish friendship and mutual trust with them, while also understanding how the system works in China.
"When contacting with Chinese businessmen you must respect their culture," she added.
Isabelita Sy Palanca, president of Mother Company of the Philippines, agreed with Westway.
"I want to invest in China because it is a large market," Palanca said. "China's economic system has been improved in past years, offering much more convenience for foreign investors."
She believed that after China's accession to the World Trade Organization, exports will greatly increase.
This morning at the business forum, Palanca found two partners with whom to set up a fishing firm in Dalian, a coastal city in north China's Liaoning Province.
A woman delegate from Brunei who works in advertising said she has long searched for opportunities to cooperate with China. Through the WLN meeting, she became further acquainted with the Chinese government's policies on foreign investment.
Min Liping, a senior official with China's Ministry of Foreign Trade and Economic Cooperation, noted China is stepping up efforts to revise a number of laws that do not align with international rules.
Many delegates said China's economic potential makes it one of the most attractive markets in the Asia-Pacific region.
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