In recent years, the United States and China have expanded their respective trade controls and sanctions systems to cover a broadening segment of bilateral commerce. The rapid pace of expansion, complexity of rules systems, and lack of transparency on both sides have raised compliance costs, injected significant uncertainty into business planning, and disrupted business relationships between both countries.
China Market Intelligence
Top Stories
With carbon capture, utilization, and storage (CCUS) and methane emerging as the two main areas of consensus on climate cooperation between the United States and China, both areas present opportunities for companies operating in these fields.
US-China bilateral trade in goods decreased by 2.9 percent year-on-year in Q1, despite US-worldwide trade increasing by 0.5 percent, the first such increase in US-worldwide trade since Q1 of last year. Bilateral trade has underperformed US-worldwide trade for the last three years due to shifts in trading patterns driven by economic and geopolitical factors.
On May 17, the People’s Bank of China (PBOC) introduced several new incentives for people to buy homes, including scrapping minimum interest rates on mortgages for new and pre-owned homes, and reducing the minimum down payment ratio for first-home buyers from 20 percent to 15 percent and for second homes from 30 percent to 25 percent. These are the lowest ratios since mortgages were introduced in 1992.
China’s 2024 Legislative Plans Set Priorities for the Economy, Cyberspace, the Environment, and More
China’s National People’s Congress (NPC) and State Council have both released their legislative plans for the rest of 2024, reflecting China’s regulatory priorities in a wide array of economic and civil society matters.
The Biden administration has characterized its strategy for regulating commerce with China as a “small-yard, high-fence” approach, saying it will promote what it can and protect what it must. Under this framework, access to certain dual use technologies and services is controlled, while other, non-sensitive areas are not restricted, tariffs notwithstanding.