China’s leadership is ramping up engagement with foreign business executives as the country works to increase foreign direct investment, which reached a 30-year low in 2023 amid poor sentiment from the business community driven by concerns over weak demand, overcapacity, geopolitical uncertainty, and long-standing regulatory issues.
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After six months of anticipation, the Cyberspace Administration of China (CAC) finalized the Provisions on Facilitating and Regulating Cross-Border Data Flow on March 22, representing a pivotal step in the evolution of China's data governance landscape. The provisions serve as a final rule to the draft rule released in September 2023.
With Representative Mike Gallagher (R-WI) leaving Congress on April 19, House Speaker Mike Johnson (R-LA) was tasked with picking Gallagher’s replacement to chair the Select Committee on the CCP. Within a couple of days, Johnson chose Representative John Moolenaar (R-MI), a five-term congressman and current member of the select committee.
I recently returned from three weeks in China, where I met with dozens of members, Chinese officials, the US Embassy in Beijing, the US Consulate in Shanghai, and our staff in Beijing and Shanghai. While there, I also attended the China Development Forum, and as many may already be aware, took part in a meeting with President Xi Jinping. Allow me to share insights and impressions below.
On March 5, during the annual Two Sessions conference, China released its government budget report, which lays out how the state intends to spend in 2024. This year’s budget is conservative, with increases to revenue and expenditure in line with previous years. While it does introduce some new tools aimed at promoting self sufficiency in science and technology and consumption, it shows no indication of a shift away from supply side support. Many economists argue significant adjustments are...
In Washington, the popular social media app TikTok is back in the spotlight after previous legislative efforts to rein it in abruptly stalled. Led by House Select Committee on the CCP Chair Mike Gallagher (R-WI) and Ranking Member Raja Krishnamoorthi (D-IL), the Protecting Americans from Foreign Adversary Controlled Applications Act would prohibit TikTok from being offered in app stores in the United States unless TikTok severs its relationship with ByteDance, its Chinese parent company....
US-China trade in goods decreased 16.7 percent in 2023 to $575 billion after reaching a record high in 2022, according to data released by the US Department of Commerce on February 7. The decrease in bilateral trade reflects a drop in US goods exports to China and a plunge in US goods imports from China that far exceeded decreases in US-worldwide exports and imports.
US ties to China’s biotechnology (biotech) industry are under intense scrutiny on Capitol Hill these days. During last year's FY2024 National Defense Authorization Act (NDAA), Congress passed a provision to potentially prohibit the Department of Defense from entering into contracts with certain Chinese biotech firms. In January, a bipartisan and bicameral group of lawmakers introduced the BIOSECURE Act, a bill designed to prevent US government funding from benefiting specific, pre-designated...