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...
China Market Intelligence
Top Stories
March 20th, 2024
March 20th, 2024
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....
March 7th, 2024
Macroeconomic targets offered few surprises.
The government is increasingly focused on managing long-term risks, with a greater willingness to address structural issues, such as debt and demographics.
February 29th, 2024
The business community is awaiting the imminent kick-off of one of the most critical inflection points on China’s annual political calendar.
Over half of China’s provinces have set 2024 GDP growth targets below their 2023 targets, indicating conservative growth expectations for the year.
February 21st, 2024
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.
February 21st, 2024
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...
February 21st, 2024
Last November, the State Council issued plans for both the Beijing and Shanghai Free Trade Zones (FTZ), stating further commitments in liberalizing service sectors for foreign investment and facilitating trade. In the plans, Beijing and Shanghai respectively issued policy frameworks to give foreign investors more access in healthcare, finance, and telecommunication services, among others. These plans also echo China’s national plan to improve the business environment in areas of concern for...
February 5th, 2024
Aligning with the 24 Measures, a policy directive from the State Council aimed at attracting foreign investment, China's intellectual property (IP) agencies have undertaken multiple measures aimed at addressing the concerns of foreign IP rights holders. They have released the long-awaited implementation rules for the Patent Law, accelerated timelines for handling IP administrative processes, and exhibited a heightened readiness to impose punitive compensation on malicious IP infringers.
February 5th, 2024
US and Chinese officials are meeting more frequently than in recent years, thanks in large part to the over a dozen working groups and dialogues established or restarted amid a thaw in bilateral relations that began in 2023. These mechanisms were established to address global and bilateral issues relating to economics and trade, military-to-military communications, climate change, counternarcotics, and more.
February 5th, 2024
US-China technology competition is expected to continue unabated in 2024. In high tech, both governments continue to de-risk their economies from the other’s through industrial policy and export controls, which have spilled over into previously uncontrolled sectors, such as cloud computing. These measures have exposed certain companies to the twin pressures of export restrictions and import substitution, which may have significant impacts on company operations.
