US goods exports to China in Q3 totaled $33.9 billion, down 6.6 percent from the previous quarter but up 7.2 percent from Q3 2020. Likewise, US worldwide goods exports totaled $432.5 billion, down 0.9 percent from the previous quarter but up 23 percent from Q3 2020. Congestion at US ports, slowing growth in China, and sector-specific challenges contributed to the decline as it was more difficult for US producers to keep up with demand for production and get their goods overseas.
China Market Intelligence
Top Stories
November 16th, 2021
Last night, Presidents Joe Biden and Xi Jinping met virtually for the first time since Biden took office, speaking for several hours. While the talks focused more on managing strategic risks than addressing economic issues, cultivating stability around some of the more contentious issues in the bilateral relationship is critically important to preventing intense competition from escalating into conflict. At the same time, we hope to see the leaders and other senior officials convene again...
November 10th, 2021
China’s pledges to reach peak carbon emissions before 2030 and be carbon neutral before 2060 started the clock on a major transition in China’s economy, and many US companies across sectors see the targets as new opportunities. Many are already investing heavily in climate-friendly projects and some are taking steps to decarbonize their own supply chains in alignment with China’s goals. While this is a positive start, companies also see China’s existing policies and incentives as...
November 10th, 2021
On September 30, the Ministry of Industry and Information Technology (MIIT) released the draft Data Security Administrative Measures for the Industry and Information Technology Sector. The draft measures implement the Data Security Law, which calls on industry regulators to implement sector-specific data classification schemes to determine what data must be stored locally and which data will be eligible for cross-border transfer. While the measures establish a framework for the...
November 10th, 2021
Last month, the Senate Foreign Relations Committee approved a bill empowering the president to sanction Chinese individuals aiding China’s efforts in the South and East China Seas, where China’s attempts to defend contested territorial claims have come under fire from the United States and regional claimants. Considering Congress’s narrowing window to pass legislation this year, it remains to be seen if the proposal will be debated or slotted into an end-of-year package. However, the Senate...
November 2nd, 2021
On October 23, the Standing Committee of China’s National People’s Congress (NPC) reviewed and released a draft amendment of China’s Anti-Monopoly Law (AML), soliciting public comments until November 21. The draft revision process, led by the State Council Anti-Monopoly Commission, has been in progress since 2018. USCBC submitted comments on the first draft released by the State Administration for Market Regulation in January 2020, prior to its submission for review at the NPC level. USCBC...
October 27th, 2021
US tariffs on hundreds of billions of dollars worth of Chinese goods, as well as Chinese retaliatory tariffs, have been in place for more than three years now. Over that course of time, average tariff rates increased steadily until the United States and China signed the Phase One trade agreement. Once the agreement went into effect, both countries lowered certain tariffs slightly, and they have stuck at those levels ever since.
October 27th, 2021
On October 10, the general offices of the Communist Party of China Central Committee and the State Council issued China’s strategy for standards setting through 2035. The outline is the product of a multi-year research process that began in 2018 with “China Standards 2035,” a research program led by the Chinese Academy of Engineering that concluded in 2020. The previous high-level document on a national standards strategy was issued in 2015 and included goals through 2020. The new outline...
October 27th, 2021
In recent months, regulators have released a flurry of regulations to further define China’s approach to privacy and data security. The sheer volume and complexity of recent regulations have prompted tremendous uncertainty among the business community regarding the next steps for compliance. Over the course of over 20 interviews to benchmark member companies’ ICT-related concerns, USCBC has identified key unanswered questions surrounding recent policy changes.
October 25th, 2021
On October 24, China’s Communist Party Central Committee and State Council jointly released the Opinions on Carbon Dioxide Peaking and Carbon Neutrality in Full and Faithful Implementation of the New Development Philosophy (in English and Chinese). This document will serve as a general framework for achieving carbon peaking and climate goals by 2030 and lays the foundation for all sectors and regions to build out specific policies in the coming months. Overall, the opinions represent a...
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USCBC In The News
Big Pharma Bets Big on China
| Wall Street Journal |
07/23/2023
Opinion: Access to Chinese market spurs growth in the U.S.
| CGTN |
07/22/2023