On July 7, the Cyberspace Administration of China (CAC) released the final Outbound Data Transfer Security Assessment Measures (Chinese here, English here). Industry has been awaiting the measures ever since China passed the Cybersecurity Law in 2016. The measures implement elements of China’s Data Security Law and Personal Information Protection Law, which require “important data” and “personal information” to undergo a security review before being transferred outside China.
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July 8th, 2022
June 29th, 2022
In mid-June, a group of bipartisan, bicameral lawmakers released a revised version of the National Critical Capabilities Defense Act (NCCDA), a bill that would create a mechanism to screen and potentially modify or block certain US investments to “countries of concern,” including China. Shortly after, USCBC obtained a copy of a much narrower outbound investment review concept led by Senator John Cornyn (R-TX). The Cornyn proposal would set new reporting requirements for US companies that...
June 29th, 2022
USCBC has been conducting monthly benchmarking interviews to understand the impact of lockdowns, gauging progress on resuming normal operations, and advocating with both central and local governments on behalf of members since April. Although China’s State Council and local governments have rolled out multiple measures to stabilize supply chains and ease logistics problems across the most affected regions, the business perception of these policies varies greatly depending on sector and...
June 29th, 2022
During President Joe Biden’s first presidential visit to the Indo-Pacific this May, he launched the long-awaited Indo-Pacific Economic Framework for Prosperity (IPEF). While IPEF is not a traditional trade agreement, the framework is central to the Biden administration’s strategy to revive US economic leadership as China’s influence in the region grows. The multilateral strategy targets common concerns in the Indo-Pacific while also striving to address some of the administration’s most...
June 22nd, 2022
On June 15, we were proud to announce new board members and new board leadership. USCBC’s new chair is Mr. Marc Casper, Chairman, President, and CEO of Thermo Fisher Scientific, based in Boston, Massachusetts. Marc is the first representative of the life sciences industry to serve as USCBC’s most senior executive. USCBC is grateful to outgoing chair, Mr. Tom Linebarger, CEO of Cummins, for his leadership over the last two years. Within the context of the US-China bilateral relationship,...
June 15th, 2022
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...
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...
