German Executives Urge Chinese Premier to Relax the Business Rules

Wen JiabaoExecutives in Germany have said that the policy of China, which discourages multinational Companies in China, is a big drawback for the country in international market.

The two executives Jürgen Hambrecht and Peter Löscher from BASF and Siemens respectively have raised these concerns in their meeting with the Prime Minister, Wen Jiabao. They shared with the premiers the compulsions like transferring valuable intellectual property, which foreign Companies have to face in order to enter in the Chinese market.

The German Executive said that the know-how procedure of trading in China seems to be different from the definition of partnership. They said that the Government in China should work to make the investment restriction lenient, especially in the areas of business, where a foreign business man has to work in a partnership with some Chinese Companies.

The executives urged the Government to have limited exports of the earth minerals, which are used for batteries and technology products.

The executives had a round-table discussion with the premier on Saturday. The German Chancellor Angela Merkel was also present at the discussion.

It is not for the first time, that the executives from foreign Companies complain about the Chinese market policy. General Electric Co. CEO Jeffrey Immelt had also commented similar view points in the last month.