China’s National People’s Congress (NPC) and State Council have both released their legislative plans for the rest of 2024, reflecting China’s regulatory priorities in a wide array of economic and civil society matters.
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China’s 2024 Legislative Plans Set Priorities for the Economy, Cyberspace, the Environment, and More
The Biden administration has characterized its strategy for regulating commerce with China as a “small-yard, high-fence” approach, saying it will promote what it can and protect what it must. Under this framework, access to certain dual use technologies and services is controlled, while other, non-sensitive areas are not restricted, tariffs notwithstanding.
The US-China Commercial Issues Working Group (CIWG), the first commercial bilateral mechanism between the United States and China in seven years, recently concluded its first meeting, which took place in Washington, DC.
China has seen several high-level personnel changes at the central and provincial levels over the last few months. On February 7, Wu Qing (吴清), previously the deputy party chief of Shanghai, assumed the role of chairman of the China Securities Regulatory Commission (CSRC), succeeding Yi Huiman (易会满).
China’s leadership is ramping up engagement with foreign business executives as the country works to increase foreign direct investment, which reached a 30-year low in 2023 amid poor sentiment from the business community driven by concerns over weak demand, overcapacity, geopolitical uncertainty, and long-standing regulatory issues.