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
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
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.
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.
The opening of China’s long-awaited Shanghai-Hong Kong Stock Connect, a trading link that would allow more foreign investment in China’s stock market, was delayed indefinitely on Monday.
US governors are heading to China in increasing numbers to seek potential investors for public and private projects. Since 2009, US governors have led 58 trade missions to China, helping to usher in more than $34 billion in direct investment over the past five years.
A commitment to an accelerated timetable for a high-standard bilateral investment treaty (BIT)—a key objective of the US-China Business Council (USCBC)—was the primary commercial outcome of this year’s US-China Strategic and Economic Dialogue (S&ED).
Amid a slowdown in China’s economy and tension between the United States and China on a variety of issues, US and Chinese negotiators are preparing for the upcoming sixth annual Strategic & Economic Dialogue (S&ED) taking place in Beijing in early July.