China has taken 'all efforts' to address some of the U.S. concerns, said Wang Huiyao, president of Center for China and Globalization.
China has already taken "all efforts" — includingin March — to address some concerns that the foreign business community complained about, said Wang, the founder and president of Beijing-based think tank, Center for China and Globalization.
The new law prohibits forced transfer of technology from foreign-invested businesses in China and steps up protection of intellectual property, Wang told CNBC'son Tuesday. He said that it also gives overseas companies equal footing with domestic players — which addresses "exactly the concerns of the U.S. administration."
I think that for the U.S., they have to see the progress China is making and then probably work on that momentum to push China to be more open, rather than put China into a a hard position."It's unrealistic to change the whole set of laws in China — no country can do that, but we have actually passed a new law," he said. "So, I think there's still grounds to work there to address all the concerns the U.S. may have.
But some analysts have said that the new law — set to be implemented in January next year — doesn't go far enough and may not be sufficient to appease Washington. Barely two months after the passing of the law, Trump blamed China for backpedaling on some commitments it made during previous negotiations.
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