Friend of the U.S. Chamber of Commerce

U.S. and Chinese leaders need to continue addressing currency, protection of intellectual property and business restrictions that could jeopardize the trading relationship between the two countries, a leading business advocate said Monday.

There are concerns about China "backtracking on progress made to open their economy and give U.S. companies a level playing field," U.S. Chamber of Commerce President Thomas Donohue told Chinese leaders today in an address before the American Chamber of Commerce in Shanghai.

China and the United States need to focus on issues that could "stall the growth and momentum of commerce between the two countries," he said.

While member companies have had positive experiences in the Chinese market they are "concerned about China's industrial and indigenous innovation policies including the use of discriminatory government procurement lists, standards setting, tax measures and compulsory certification rules which seem designed to force technology transfer and restrict foreign competition," he said.

"These concerns have risen to the highest level I have seen in 10 years," said Donohue, who met Friday with Vice President Xi Jinping and other senior leaders.

U.S. and Chinese leaders are meeting early this week in Beijing for the U.S-China Strategic and Economic Dialogue to discuss issues.

Other matters topping the Chamber's list include ongoing investment and operating restrictions in sectors such as financial services, insurance and telecommunications.