COVID-19 outbreaks in Shanghai and across China have cast a long shadow over the country's economic future for the rest of the year and potentially beyond. State planners have set an annual economic growth target of 5.5 percent for the year, but if the past few months are a sign of the future, this will be incredibly difficult. Economic data for April, the height of Shanghai’s lockdown, fell short of expectations as industrial production, retail sales, fixed-asset investment, and...
China Market Intelligence
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June 15th, 2022
Under a global business model, quick and seamless data flows across borders are crucial to multinational corporations providing customer services, personnel management, R&D, and everything in between. The Chinese government’s approach to deciding which data companies can transfer freely across borders hinges on a key concept that is not yet fully defined, “important data.” Important data are technically already subject to reviews before they can be transferred based on existing...
June 15th, 2022
With less than a week until the Uyghur Forced Labor Prevention Act (UFLPA) goes into effect, the US interagency Forced Labor Enforcement Task Force (FLETF) charged with implementation has only released limited guidance to industry. This law will ban imports of all goods made in whole or in part in Xinjiang, or by other entities in China suspected of using forced labor, unless the importer can meet a high evidentiary bar proving no forced labor was used. Practically speaking, the law will...
June 1st, 2022
Since mid-April, Shanghai’s daily new cases have been dropping sharply and steadily. On May 17, the city’s top health official declared that no new cases had been found outside quarantine zones for three consecutive days, and the city government is now scrambling to get factories humming this month. On May 25, in an unusually large teleconference with one hundred thousand officials from the ministerial level to the county level, Premier Li Keqiang called for concentrated efforts to ensure...
June 1st, 2022
As China braces for an economic slowdown, the government is weighing the economic costs of its ongoing crackdown on major tech companies with its need to satisfy the growth targets it set for itself earlier this year. In a meeting convened by the Chinese People’s Political Consultative Conference (CPPCC), China’s Vice Premier Liu He indicated the government would ease back on a series of industry crackdowns—a welcome sign for industry leaders and investors, particularly as foreign investors...
June 1st, 2022
As China pursues its carbon peaking and energy security objectives, US companies in China view decarbonization as a top priority issue in their long-term business strategies. In order to identify common challenges and opportunities for decarbonization prospects in China among members, USCBC conducted a survey in late March, garnering input from a diversified sectoral representation of members including manufacturing, services, information and communication technology, energy and environment...
May 31st, 2022
Heading into the summer, the view from Beijing for American businesses continues to be one of uncertainty and mixed signals. Uncertainty abounds regarding the future direction of China’s COVID policy, the economic headwinds China is facing, and if or when the intersection of these two challenges reaches its precipice. Mixed signals are emanating from various points within the Chinese system: central and local government officials pledge support for COVID-ravaged companies and rumors of...
May 27th, 2022
It has been a busy last month in the bilateral relationship, capped off by Secretary Antony Blinken’s speech articulating the administration’s approach to China. The secretary’s remarks yesterday did not contain new announcements, but were a helpful summation of the administration’s strategy and priorities. USCBC’s press statement welcomed the administration’s focus on diplomacy, leveling the playing field with more access to China’s market, and working with US partners on common issues. We...
May 18th, 2022
From May 15 to May 16, leaders from the United States and European Union gathered in Paris for the US-EU Trade and Technology Council (TTC) meeting. Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo, and US Trade Representative Katherine Tai attended the meeting, where they discussed a set of next steps on export controls, investment screening, non-tariff barriers, sanctions, and supply chain vulnerabilities mitigation. The TTC was created last September as a platform to...
May 18th, 2022
On May 6, the National People’s Congress Standing Committee (NPCSC) released its Legislative Plan for 2022. This year’s plan, which includes 39 review items, signals the government’s law-making priorities for the rest of the year. This year, the plan includes numerous actions that the government hopes will stimulate market vitality, contribute to economic security, and strengthen legislation for environmental protection, social welfare, women’s rights, and public health. The full plan is...
