On November 15, China’s National Development and Reform Commission (NDRC) released the Guiding Opinion to Deeply Integrate Advanced Manufacturing and Modern Service Industries, outlining a plan for updating China’s manufacturing capabilities by 2025.
China Market Intelligence
This past year finally saw more specific guidance on cybersecurity reviews, critical information infrastructure (CII), cross-border data transfers, and personal information, though many of the policies remain in draft form.
In July of last year, several arms of China's government released the first in a series of documents detailing the country’s latest national crime reduction campaign, encouraging stronger enforcement of existing laws and regulations. While several similar initiatives have occurred in the past, many US companies and risk management experts note that consistent rule-of-law type enforcement is the new normal.
On July 31, US-China Business Council (USCBC) President Craig Allen testified before the US-China Economic Security Review Commission (USCC) on US companies’ access, risks, and opportunities in China’s health market.
China is aggressively phasing out fossil fuels and encouraging the development of new energy vehicles in its auto sector to improve the industry’s carbon footprint. Some of the policies associated with these goals have set impractical deadlines and created market distortions, but there is room for optimism in the government’s ongoing efforts to refine its approach.
Two major developments have emerged in ecommerce in China over the past year: the Ecommerce Law, which took effect January 1 of this year, and the concerted effort directed by the State Council to improve the environment for cross-border goods sales to the benefit of both consumers and retailers.
At last year’s National People’s Congress (NPC), China launched a massive government restructuring to streamline policymaking and enforcement. Throughout the months-long reorganization process, the government continued to move ahead with policy reforms in some areas, while other regulations on the NPC 2018 work plan were not addressed.
This year’s National People’s Congress (NPC) which took place March 5-15 included a few key announcements that may provide a window into the business environment in the coming year.