Thank you to all who partnered on and joined our Jubilee Gala in Washington last week, as well as those who were a part of our 50th anniversary galas in Beijing and Shanghai earlier this year. I was honored to be in the company of so many members, USCBC alum, friends, China scholars, and officials from both the United States and China.
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China’s former defense minister Li Shangfu and former foreign minister Qin Gang were removed from their positions as state councilors. New heads of the Ministry of Finance and Ministry of Science and Technology were appointed in October. Fewer personnel adjustments happened at the local level in the second half of 2023 compared to the first, as there was significant reshuffling after local two sessions meetings in January.
Some of the more contentious provisions, such as language to further regulate US outbound investment and to prohibit US commissaries and military exchanges from selling products made in China, were dropped from the final bill. USCBC expects President Biden to sign the NDAA into law before the end of the year.
The United States seeks to deter investment in China in the name of supply chain resilience, while the Chinese government—pursuing growth—is attempting to attract and retain foreign investment into China.
In the last year, the Cyberspace Administration of China (CAC) adjusted its rules for cross-border data transfers (CBDT) in what appears to be a slowly loosening government approach to managing data flows.
A four-hour meeting between President Joe Biden and President Xi Jinping on the sidelines of this year’s APEC summit in San Francisco served as a pivotal juncture in thawing relations between the United States and China. The meeting laid the groundwork for expanding communication across multiple levels of government, but it remains to be seen what this will look like in practice and how it will impact US-China commercial relations.
US-China bilateral trade in goods increased 6.8 percent over the previous quarter during Q3 2023, the first quarterly increase since bilateral trade first dived in Q4 2022.
Dear member,
Those who follow closely will know I have been using a dance metaphor to describe the US-China relationship for the last year. The complexity and pace of this dance accelerated until the much-awaited summit on Wednesday, November 15, near San Francisco between President Biden and President Xi. The summit was followed by a dinner co-hosted by USCBC and the National Committee on US-China Relations (NCUSCR) and featured remarks from President Xi, Commerce Secretary Gina...
In May, USCBC published an article about the troubling number of proposals being discussed in Congress and on the campaign trail calling to revoke China’s Permanent Normal Trade Relations (PNTR) status. This is a position held by the three frontrunners for the Republican presidential nomination in 2024.