Nearly three years after the Cybersecurity Law went into effect, regulatory clarity remains elusive, including around the MLPS 2.0. Many companies are conducting self-evaluations, with a few filing directly with MLPS 2.0.
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.
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.
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 urbanizes, and workers move from factories to offices, the construction and operation of buildings will account for a growing share of Chinese cities’ energy consumption and carbon emissions.
China’s long-awaited urbanization plan indicates that the country’s leaders will focus on increasing access to social services, allowing greater labor mobility through residency permit reforms, and increasing the role of the market in real estate pricing.
Over the past four decades, China has seen the largest migration in human history. Since 1979, more than 300 million rural residents have moved into China’s cities, bringing the country’s urban population to 710 million. This has increased the proportion of China’s urban population from just 17.9 percent in 1978 to 52.6 percent today.
For the first time since 1986, the US International Trade Commission (ITC) reached an affirmative final determination in a countervailing duty (CVD) investigation against Chinese imports. On June 20, ITC determined that US industry has been materially injured by certain imports of circular welded carbon-quality steel pipe from China.