Chinese commitments to boost transparency of technology and security policies and improve trade secret protection were key at this year’s US-
China Market Intelligence
Last year, China’s 12th National People’s Congress (NPC) laid out a legislative agenda to address some of the most pressing issues facing the nation. And indeed, the topics discussed in 2014's NPC meeting did see movement.
New amendments to China’s Budget Law now allow local governments to issue debt in domestic bond markets. Debt issuance is a central aspect of the revamped law, which was passed at the end of August and includes 22 news articles and more than 82 changes.
On July 25, the Shanghai Municipal People's Congress Standing Committee passed the 2014 China (Shanghai) Pilot Free Trade Zone Regulations, a new set of rules for managing the Shanghai Free Trade Zone (FTZ). The new regulations, which went into effect on August 1, vary little from the 2013 version.