1. FOR IMMEDIATE RELEASEContact in Washington, DC:Marc Ross (mross@uschina.org)O: 202-429-0340C: 202-596-5270 USCBC Board of Directors Statement of Priorities for the US-China CommercialRelationship Working together, the United States and China have a tremendous opportunity to buildstronger economies and improve the lives of people around the worldWASHINGTON, DC, February 10, 2012 The US-China Business Council (USCBC) issued the followingstatement today:Working together, the United States and China have a tremendous opportunity to build strongereconomies and improve the lives of people around the world, said Muhtar Kent, Chairman and CEO ofThe Coca-Cola Company and Chair of the US-China Business Council. The statement issued by USCBCsboard of directors identifies key actions that will further strengthen this critical bilateral relationship andbring economic growth and job creation to our two countries and the world.The USCBC board of directors supports a strong, mutually-beneficial commercial relationship withChina. The relationship has grown significantly over the past three decades thanks to the collaborativework of the governments, business communities, and other stakeholders in both countries, said USCBCPresident John Frisbie. However, more work needs to be done to develop commercial ties and tackleunresolved issues.The purpose of the statement is to bring greater focus on the issues that will increase commercialopportunities for American companies.USCBC calls upon the US and Chinese governments to work together on the USCBC statement ofpriorities. USCBC believes these steps will improve the US-China commercial relationship and lends itsfull support to achieving these important goals. The world-class membership of USCBCs board iscommitted to seeking solutions that foster economic growth, concluded Frisbie.USCBC Board of Directors Statement of Priorities is available here:https://www.uschina.org/public/documents/2012/02/board_priorities.pdfHighlights from the USCBC Board of Directors Statement of Priorities:

2. Ensure fair and open investment environments that create jobs. The United States and Chinesegovernments should jointly affirm the principle that foreign direct investment is good foreconomic development, employment, innovation, competition, consumers, and public welfare.Reduce investment ownership restrictions in China and encourage Chinese investment in theUnited States. China has far too many ownership restrictions on US and foreign investorsseeking market access. More investment by Chinese companies in the US means more jobs forAmericans.Remove unnecessary visa barriers. Both the US and Chinese government should agree to offerreciprocal five-year, multiple-entry visas for business travelers.Continue to use WTO cases to settle trade disputes. Both countries have effectively used thischannel to resolve trade disputes in a non-politicized manner and should continue to do so.Further improve rule-making transparency. Chinas central government has significantlyimproved rule-making transparency over the past several years, but further improvements areneeded. China should fully implement its commitment to publish all draft trade and economic-related laws, administrative regulations and departmental rules for a full 30-day period.Increase financing support for US exports to China. Despite substantial growth in US exports toChina over the past decade, the US share of Chinese imports has fallen to 7 percent from 10percent in 2000. A worthy goal of the Obama administrations National Export Initiative shouldbe to reclaim a 10 percent share of Chinas imports by 2014. Reauthorize the Export-ImportBank of the United States and have it prioritize lending support of US exports to China.Eliminate duplicative and inconsistent payroll taxes. The US and China should quickly move toensure its respective companies and employees are not required to pay payroll taxes (socialinsurance taxes in China) in both countries.Adopt a stronger deterrent against counterfeiting. China should adopt the WTO-consistentdeterrent of criminal penalties in cases of commercial-scale infringement, and broaden the useof higher penalties and stronger deterrents against all types of IPR infringement, includingpatent, copyright, trademark, and trade secrets violations.Adhere to non-discriminatory, mutually-beneficial innovation policies. China should continueto implement its pledge to delink its innovation and government procurement policies. Thisissue impacts the level playing field for American companies in the China market, but alsoimpedes Chinas goal of becoming a more innovative economy.The US-China Business Council (USCBC) is a private, nonpartisan, nonprofit organization of roughly 240American companies that do business with China. For nearly four decades, USCBC has providedunmatched information, advisory, advocacy, and program services to its membership. Through its officesin Washington, DC; Beijing; and Shanghai, USCBC is uniquely positioned to serve its members interests inthe United States and China.###