The PRC National Development and Reform Commission (NDRC) recently issued a new Catalogue on the Direction of Overseas Investment for National Industries.
China Market Intelligence
The PRC National Bureau of Statistics released its 2006 "Statistical Report on National Economic and Social Development" last week. The report provides sector-by-sector figures for foreign direct investment (FDI), among other numbers.
Bilateral exchanges continue this month in the run up to the second round of US-China Strategic Economic Dialogue (SED) meetings between US and PRC officials in Washington, DC, May 23-24.
More business visas are being issued to Chinese citizens, reports the US Department of State, and they are being issued more quickly despite the rising number of applications. The number of business and tourist visas issued to PRC nationals in fiscal year (FY) 2006 was 16 percent higher than in FY 2005, according to State Department figures released earlier this year.
The PRC Standing Committee of the National People's Congress (NPC) released its 2007 legislative agenda this week, which lists 20 draft laws that it plans to review or pass this year, including the draft Corporate Income Tax Law, draft Labor Contract Law (LCL), draft Antimonopoly Law (AML), and draft Social Insurance Law, among others.
The PRC State Council has approved the creation of a leading work group to combat illegal activities in the stock market, according to Chinese press reports.
Democrats and Republicans on the trade subcommittee of the House of Representatives' Committee on Ways and Means earlier this month joined industry representatives in criticizing China's intellectual property rights (IPR) protection and industrial subsidies at a hearing focused on China trade.
The 2007 Work Plan of the State Intellectual Property Office (SIPO), released on February 1, aims to promote the role of intellectual property (IP) rights in strengthening China's innovative abilities and competitiveness.
The PRC Ministry of Commerce (MOFCOM) recently issued a slew of documents to promote the development of domestic brands. This is part of China's larger drive to encourage independent innovation and establish internationally competitive products.
US exports to China in 2006 continued the strong growth seen in recent years, rising 31.7 percent to $55 billion, according to the US Census Bureau and Bureau of Economic Analysis report issued last week. China remains the fourth-largest export market for the United States, but will likely surpass Japan in 2007 to move into third place, just below Canada and Mexico.