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.
China Market Intelligence
The Belt and Road Initiative (BRI) may face mild competition from US and EU alternatives.
China’s economic policymakers today released a revised list of restricted sectors for foreign investment, which incorporates liberalizations announced during recent months.
As China pushes for technological advances and autonomous vehicles (AVs), new government regulations released in April could have implications beyond the automotive industry. The new rules regulate liability, test driver qualifications, data reporting, and data storage.
As a temporary suspension expires this month, US companies’ concerns about China’s height limits on trucks came to the forefront of US-China Business Council (USCBC) advocacy efforts.
Chinese President Xi Jinping announced in mid-June that officials in his administration will push forward an “energy revolution,” focused on reducing energy consumption, increasing energy supply, and improving energy efficiency.
Antimonopoly issues, including M&A reviews and pricing investigations, have garnered considerable attention by US stakeholders in recent months, due to widespread reporting on pricing investigations involving foreign companies and a November 2013 National Development and Reform Commission (NDRC)
Senior Chinese officials continued to emphasize the importance of market-oriented economic reforms at China’s recent meeting of parliament, though little substantive commercial legislation was passed during the session.
US exports to China experienced a surge at the end of 2013, capping off a year of steady bilateral trade growth and continuing economic recovery. US exports to China grew by 24 percent year-on-year in the fourth quarter of 2013, led by oilseeds and grains, according to data from the US International Trade Commission.
US and Chinese senior government officials announced movement on key business issues during this year’s plenary session of the Joint Commission on Commerce and Trade (JCCT), an annual high-level discussion on business, commercial, and trade topics held this year in Beijing.