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 Market Intelligence
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.
As Chinese and American business travelers know well, securing visas for short- or long-term stays can be a time-consuming process. But when Presidents Barack Obama and Xi Jinping met in mid-November, they hammered out a deal that could ease burdens on Chinese and American travelers alike.
US President Barack Obama concluded a constructive three-day visit to China earlier today with announcements of new bilateral deals on a range of issues important to US companies doing business in China, including a significant change in visa policy, reduced tariffs for trade in information technology products, and new targets related to climate change.
China’s main regulatory document laying out sectors open to foreign investment—including sectors with specific ownership caps and requirements for joint ventures—was released in draft form by the Ministry of Commerce (MOFCOM) and the National Development and Reform Commission (NDRC) on November 4.
The PRC National Development and Reform Commission (NDRC) and Ministry of Commerce (MOFCOM) on Wednesday published a draft version of the Catalogue Guiding Foreign Investment in Industry for public comment through December 3.
In a move that could open up China’s domestic market for foreign electronic payment service providers, the State Council on October 29 said it would give greater access to qualified domestic and foreign companies offering bank-card clearing services.