On November 15, China’s National Development and Reform Commission (NDRC) released the Guiding Opinion to Deeply Integrate Advanced Manufacturing and Modern Service Industries, outlining a plan for updating China’s manufacturing capabilities by 2025.
China Market Intelligence
With an agreement “in principle” reached earlier this month, both the US and Chinese governments are sending positive signals as they work through the details of a “phase one” agreement. While the 20-point policy document on reforms and market opening published just a few weeks later by China’s State Council mostly rehashed previous commitments, it provides an encouraging sign of China’s will to move forward with reforms related to US demands.
In less than a month, the World Trade Organization (WTO) dispute settlement mechanism will effectively cease to function, with potentially severe implications for the multilateral trading system. On December 10, the terms of two of the three remaining judges will expire, leaving the panel without a quorum to hear or decide cases, unless the United States changes its position and allows for more judges to be appointed. A recent WTO ruling in favor of China underscores many of the United...
Several provincial governments appointed banking executives to key political positions, which may indicate a greater focus on financial reform and intensifying competition between regions. China recently announced personnel changes, including at the Ministry of Foreign Affairs and the State Council offices in charge of Macau and Taiwan affairs.
Senior Chinese leaders stressed progress in bilateral negotiations and a commitment to accelerate domestic economic reform efforts during an October 16 to 17 visit to Beijing by a delegation of the US-China Business Council (USCBC) Board of Directors. The delegation met with Premier Li Keqiang, China Banking and Insurance Regulatory Commissioner Guo Shuqing, State Administration of Market Regulation Minister Xiao Yaqing, National Development and Reform Commission Vice Commissioner Ning Jizhe...
On Monday, August 5, the Treasury Department officially labeled China a currency manipulator. Though frequently threatened in political election cycles, this is the first time the designation has been imposed since China, South Korea, and Taiwan were cited in 1994 by the Clinton administration. The designation is mostly symbolic, as many of the actions taken by the Trump administration to date, such as implementation of tariffs, go beyond the remediation actions enumerated in US law.
On July 31, US-China Business Council (USCBC) President Craig Allen testified before the US-China Economic Security Review Commission (USCC) on US companies’ access, risks, and opportunities in China’s health market.
Presidents Trump and Xi will meet on the sidelines of the G20 Summit near the end of June, with preparatory talks starting this week. It is unlikely that a final trade deal will be reached at the meeting. Before the presidential meeting was announced, China moved forward with a number of retaliatory measures against the United States.
President Xi recently pledged improvements to market access, IP protection, competitive markets, and monetary policy among other issues. Still, insufficient transparency surrounding opportunities for foreign companies to participate in projects continues to cloud companies’ strategic planning around BRI.
China recently made a series of regulatory changes that took immediate effect and address US technology transfer concerns, including revisions to the Technology Import and Export Regulations and equity JV implementing regulations.