One of the biggest uncertainties in China’s cyberspace governance regime is how strict enforcement will be, and whom enforcement will prioritize. Based on publicly available data and conversations with companies and experts, enforcement of personal information issues appears focused on domestic internet platform giants, such as Didi, Tencent, and Alibaba, rather than foreign companies. USCBC also understands that in some sectors outside of tech, such as finance, enforcement has been more...
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October 5th, 2022
October 5th, 2022
Over the last three years, as the world has transformed logistically, politically, and culturally as a result of the COVID-19 pandemic and geopolitical tensions, Western companies’ views of China’s business environment have changed significantly. While both European and US companies have a dimmer business outlook than before, they have each been affected in different ways.
October 5th, 2022
Only a month away from election day, forecasts estimate that the GOP will take control of the House, with FiveThirtyEight putting the odds at Republican chances of winning the House back at around 70 percent. In the Senate, the odds are flipped. While the issues of inflation and abortion rights have dominated airwaves this election cycle, China is still a campaign issue for many candidates. USCBC previously reported on candidates’ positions on US-China relations and trade during the primary...
September 21st, 2022
Much has happened since our last update on the COVID-19 situation in China in June. Over the past two months, all provinces experienced surges in daily new case reports. The most significant uptick came in August, when a group of tourist hotspots—Hainan, Xinjiang, and Tibet—all began to report large-scale outbreaks that resulted in city-wide lockdowns in Sanya, Shigatse, and other locations. These outbreaks soon spilled over to other provinces, including Sichuan, Heilongjiang, Liaoning,...
September 21st, 2022
In mid-September, the onshore and offshore yuan broke the significant threshold of 7 yuan to the dollar—the lowest level since July 2020. So far this year, the yuan has depreciated roughly 8 percent against the dollar. The depreciating yuan comes as the dollar continues to gain strength, and at home, China is facing mounting economic pressures due to its COVID-19 controls and ongoing housing crisis.
September 21st, 2022
While IP protection has improved in recent years, several challenges remain, especially when it comes to enforcement. USCBC closely follows developments in Chinese IP protection through regular dialogue with regulators, benchmarking, and our annual member survey. Over the past year, roughly half of USCBC Member Survey respondents reported an improvement in IP protection in China, while the other half reported no change. In recent months, a number of IP-related policies have been issued at...
September 7th, 2022
The Cyberspace Administration of China (CAC) released the first version of the Cross-Border Data Transfer Security Assessment Application Guide on August 31, hours before the Measures on Cross-Border Data Security Assessment (EN, CH)went into force on September 1. These measures had been published on July 7. This document will govern the most likely way for US multinational corporations to handle transfers of substantial amounts of data from China. The guide’s self-assessment template is a...
September 7th, 2022
Due to a record-shattering heatwave last month, southwestern China experienced severe water and energy shortages. Sichuan province has been among the hardest hit, and its reliance on hydropower, which generates 80 percent of the province’s electricity, has only exacerbated problems. At one point, reduced water levels in Sichuan caused a 50 percent drop in hydropower-generated electricity.
September 7th, 2022
On August 26, the Public Company Accounting Oversight Board (PCAOB), the China Securities Regulatory Commission (CSRC), and China’s Ministry of Finance (MOF) signed a Statement of Protocol Agreement marking the first step in resolving the issue of US regulator access to the audits of Chinese companies listed in the United States.
September 7th, 2022
While regions across China were dealing with extreme weather conditions last month, the temperature here in Beijing recently moderated from summer highs to a comfortable transition into the autumn. The seasonal change presents an interesting parallel to the reality for American businesses in China today. Following US Speaker of the House Nancy Pelosi’s visit to Taiwan, August kicked off with heated rhetoric and high expectations for volatility. Fast forward to early September and concerns...
