China’s former defense minister Li Shangfu and former foreign minister Qin Gang were removed from their positions as state councilors. New heads of the Ministry of Finance and Ministry of Science and Technology were appointed in October. Fewer personnel adjustments happened at the local level in the second half of 2023 compared to the first, as there was significant reshuffling after local two sessions meetings in January.
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December 14th, 2023
Some of the more contentious provisions, such as language to further regulate US outbound investment and to prohibit US commissaries and military exchanges from selling products made in China, were dropped from the final bill. USCBC expects President Biden to sign the NDAA into law before the end of the year.
December 14th, 2023
The United States seeks to deter investment in China in the name of supply chain resilience, while the Chinese government—pursuing growth—is attempting to attract and retain foreign investment into China.
November 29th, 2023
In the last year, the Cyberspace Administration of China (CAC) adjusted its rules for cross-border data transfers (CBDT) in what appears to be a slowly loosening government approach to managing data flows.
November 29th, 2023
A four-hour meeting between President Joe Biden and President Xi Jinping on the sidelines of this year’s APEC summit in San Francisco served as a pivotal juncture in thawing relations between the United States and China. The meeting laid the groundwork for expanding communication across multiple levels of government, but it remains to be seen what this will look like in practice and how it will impact US-China commercial relations.
November 29th, 2023
US-China bilateral trade in goods increased 6.8 percent over the previous quarter during Q3 2023, the first quarterly increase since bilateral trade first dived in Q4 2022.
November 21st, 2023
Dear member,
Those who follow closely will know I have been using a dance metaphor to describe the US-China relationship for the last year. The complexity and pace of this dance accelerated until the much-awaited summit on Wednesday, November 15, near San Francisco between President Biden and President Xi. The summit was followed by a dinner co-hosted by USCBC and the National Committee on US-China Relations (NCUSCR) and featured remarks from President Xi, Commerce Secretary Gina...
November 8th, 2023
In May, USCBC published an article about the troubling number of proposals being discussed in Congress and on the campaign trail calling to revoke China’s Permanent Normal Trade Relations (PNTR) status. This is a position held by the three frontrunners for the Republican presidential nomination in 2024.
November 8th, 2023
After years of conflicting reports on the health of the Belt and Road Initiative (BRI), a recent summit in Beijing indicated that the project is moving in a new direction. On October 17 and 18, China hosted the third Belt and Road Forum for International Cooperation to set the agenda for the next decade.
November 8th, 2023
From October 30 to 31, China convened the twice-a-decade Central Financial Work Conference, an agenda-setting moment for the financial sector. This year’s event took place amid ongoing local government and property sector debt challenges. The last conference took place in 2017 and set the stage for China’s financial deleveraging campaign, which continues today. China’s top officials, including senior financial leaders and all members of the Politburo Standing Committee, were in attendance....
