It helps to remember that China and US are the two most unique countries in the world but toward opposite directions. Hardware and tangible stuff aside, in all “soft” aspects China is a laggard behind anyone else, including Thailand. Asians are of two types: the Japanese model that relies on collective efforts and the Chinese model that maximizes family interests. US on the other hand is the most individualistic society even among the Westerners. That is why the world is so interesting a place right now as the two extremes are competing, sometimes thinking about cooperation.
Bottom line: this is a $150 to $200 billion market for U.S. companies, and will probably be much more. So pay attention to these problems, you can probably make bank if you have solutions.
#10 Market access for the services sector (financial, legal, information, telecom)
#7 Restrictions on inbound investments (i.e. ownership limits)
#6 Standards and conformity assessment
#5 Intellectual property rights enforcement
#4 Competition with Chinese companies (state-owned and private)
#3 Cost increases, including labor, materials, and inflation
#2 Administrative licensing, including difficulties gaining business licenses and product approvals
#1 Human resources: Talent recruitment and retention