Zhang Kunsheng, China’s assistant foreign affairs minister and former secretary at the PRC’s embassy in the US, was recently removed from his post under suspicion of corruption, according to a January 2 statement on the foreign ministry’s website.
China Market Intelligence
The United States and China wrapped up three days of commercial negotiations in Chicago yesterday, making progress on competition policy, intellectual property rights (IPR), and product approvals in agriculture and medical devices.
China’s lead food and health safety regulator, the China Food and Drug Administration (CFDA), will focus on continued restructuring and increased enforcement efforts in 2015, according to statements made to the US-China Business Council (USCBC). USCBC led a group of eight companies in a roundtable discussion with Director General Yuan Lin of the CFDA in Beijing on December 5.
The elimination of joint venture restrictions and removal of “prohibited” and “restricted” labels for foreign investment in key sectors in the new draft Catalogue Guiding Foreign Investment (CGFI) mark progress for US companies in some sectors in China.
Chinese leaders pledged to continue structural reforms and regional economic development in light of slowing GDP growth at last week’s Central Economic Work Conference (CEWC), held in Beijing.
In the face of slowing growth and what policymakers are calling a “new normal” for China’s economy, central planners have stepped up the pace of long-discussed financial liberalizations, from the opening of free trade zones and the Shanghai-Hong Kong Stock Connect to—most recently—the proposed e
The State Council has released China’s official 2015 holiday schedule, which includes weeklong holidays for both Spring Festival and National Day. The schedule also gives workers seven other holidays, but does require four make-up days.
China’s State Council has further decentralized the approval process for foreign, domestic, and outbound investment projects with its release of the 2014 Catalogue of Investment Projects Under Government Approval.
In November, Chinese and US negotiators surprised the global business community by announcing an end to a standoff over high-technology tariffs. In agreeing to move forward with the World Trade Organization’s (WTO) Information Technology Agreement (ITA), China paved the way for the slashing of tariffs on items from semiconductors to video game consoles.
The US-China climate change joint agreement received significant media coverage in the United States, with many outlets citing it as the main outcome o