WASHINGTON, January, 20, 2011 -- Both Presidents Barack Obama and Hu Jintao blazed through Wednesday in a flurry of meetings, press conferences and announcements about the myriad new agreements that both countries have forged to tie their fates ever closer together.
Headlining it all is a new series of business deals between U.S. and Chinese companies, and the Chinese government that is worth $45 billion in terms of an increase in U.S. exports to China.
One development that didn't receive much attention on Wednesday, however, was a sales pitch from President Hu to U.S. entrepreneurs.
"I also have a message o American entrepreneurs," he said."That is, we welcome you as companies in China. China follows reform and [is] opening up."
Hu promised transparency, justice, fairness, and efficiency to any American or other foreign company that decides to go to China to open up shop.
"I also wish to tell you that all companies registered in China are given national treatment," he said. "In terms of innovation products, accreditation, government procurement, IPR protection, the Chinese government will give them equal treatment."
Hu then quickly made sure that he wasn't seen as trying to steal all of the brainy Chinese entrepreneurs in the U.S. by adding that China supports their efforts in the United States too.
"Here, I also have a message to Chinese entrepreneurs. That is, the Chinese government will, as it has always done, support you in making investments and doing business here in the United States," he added. "I hope that you can continue to be enterprising and creative, and at the same time, don’t forget to give back to the local communities."
China has long been an alluring market for foreigners.
However, many companies that attempt to establish themselves there are often faced with a thicket of regulations and uncertain enforcement of their intellectual property rights.
One example of a common conundrum facing foreign high-tech companies doing business in China: Motorola last year sued China's largest telecommunications equipment provider Huawei in the United States for allegedly stealing key trade secrets.
A group of Intellectual Property Breakfast Club panelists will discuss enforcement issues and the environment for tech companies in China in February.
The event takes place Tuesday, February 8th, at Clyde’s of Gallery Place in Washington from 8 a.m. to 10 a.m. Register at: http://ipbreakfast.eventbrite.com.