US-China Business Council (USCBC) Chair Andrew Liveris, chairman and CEO of the Dow Chemical Co., and USCBC President John Frisbie led a delegation of 12 USCBC board members to Beijing at the end of October.
China Market Intelligence
The PRC State Council on October 29 released one of China's few comprehensive outlines of its views on and policies toward climate change. China released the white paper, China's Policies and Actions for Addressing Climate Change, before an international conference on climate change was held in Beijing last weekend and a United Nations conference on climate change is held in December.
The National People's Congress (NPC) and State Council both announced initiatives earlier this year to increase transparency and public participation in the formulation of legislation and administrative measures. Since late summer, USCBC has been tracking the NPC's and State Council's compliance with their commitments in this area.
Officials from the US Trade Representative, US Patent and Trademark, and US Copyright offices and the Commerce and State departments traveled to Beijing last week for a series of intellectual property rights (IPR)-related events and meetings with PRC government officials and representatives of US industry.
China's outbound foreign direct investment (FDI) flows reached $26.5 billion in 2007, up 25 percent over 2006, according to recently released figures from the PRC Ministry of Commerce, National Bureau of Statistics, and State Administration of Foreign Exchange.
Following months of speculation, the PRC National Development and Reform Commission (NDRC) and Ministry of Health (MOH) on October 14 released a draft of the healthcare reform plan, which is available for comment until November 14.
The PRC National Bureau of Statistics announced last week that China's economy grew 9 percent in the third quarter of this year, its lowest rate of quarterly growth since the second quarter of 2003, when growth dipped to 7.9 percent during the severe acute respiratory syndrome (SARS) outbreak.
The US Congress recessed on October 3, 2008, after passing the $700 billion financial assistance package. Domestic economic issues dominated Congress' agenda in the closing weeks of the session, displacing several pending trade agreements along with the hopes of some groups for punitive legislation on China's currency policies.
The US-China Business Council (USCBC) on October 21 hosted its first-ever webinar, M&A in China: Strategies for a Changing Landscape. InterChina Consulting sponsored the event.