China Market Intelligence

February 20th, 2008

The US trade deficit with China in 2007 reached $256.3 billion, the highest deficit the United States has recorded with any single economy, according to newly released US government trade figures. At the same time, 2007 was a banner year for US exporters: China now ranks as the third-largest US export market, surpassing Japan. US exports to China grew more than 18 percent, faster than imports from China in 2007. China also became the top source of US imports, overtaking Canada last year. The...

February 20th, 2008

To improve efficiency and strengthen management of customs clearance procedures, the PRC General Administration of Customs on January 30 issued rules that create a new top designation, "AA," for the "best of the best" consignors, consignees, and declaration agencies. Firms with the "AA" or "A" designation are eligible for more convenient clearance procedures through customs; those with a "B" designation are subject to normal clearance procedures; and those assigned a "C" or "D" designation...

February 6th, 2008

China recently completed its regular process of provincial leadership appointments, which were determined during provincial people's congress meetings across the country. The list of current provincial and municipal leaders follows below.

With the recent spate of top leadership appointments and changes, which will likely continue through the March National People's Congress, the US-China Business Council will monitor key personnel changes that could affect member companies'...

February 6th, 2008

Member company executives gathered in Washington, DC, on January 31 to hear an expert lineup of speakers analyze the year ahead at the US-China Business Council's (USCBC) 27th annual Forecast Conference.

Predicting that China's gross domestic product growth in 2008 will likely slow modestly to about 9.5 percent, Jay Bryson, a global economist at Wachovia Corp., argued that China's economy is less dependent on exports to the United States than is widely assumed and that a US slowdown...

February 6th, 2008

Research and development (R&D) spending in China has increased substantially over the past several years. China's R&D expenditure constituted 1.4 percent of gross domestic product (GDP) in 2005, but such spending still lags behind that of the United States and Japan, at 2.6 percent and 3.2 percent, respectively. Although R&D spending in China has grown at an annual rate of 17 percent over the past 12 years, it is unclear whether Beijing will reach its reported goal of 2.5 percent...

February 6th, 2008

US-China Business Council (USCBC) staff recently met with officials from the US Department of Commerce and the Office of the US Trade Representative (USTR) to discuss their efforts to remove trade barriers in environmental goods and services. As a result, USCBC is seeking member company input on a list of products and technologies with environmental applications that would benefit from the removal of import tariffs. Commerce and USTR officials are following up on two agreements made at the...

January 30th, 2008
Looking back at 2007...

China delivered another year of strong economic growth in 2007, propelled largely by high levels of investment and exports. Worried about inflation and excess lending, the government instituted lending caps and raised bank reserve requirements and interest rates multiple times, ordered banks to stop issuing loans at the end of 2007, and froze prices on some basic foodstuffs and oil, among other goods, in early 2008.

Economic growth...
January 30th, 2008

In what some US manufacturers and suppliers consider an inefficient and cumbersome new requirement, China's product quality watchdog in late November 2007 mandated manufacturers whose products have already acquired a China Compulsory Certification (CCC) mark and production licenses to register their products in a new online network, which will then issue a standard e-monitoring barcode label. The label must be placed on the products' packaging in addition to existing barcode labels. In some...

January 30th, 2008

China's key financial authorities held several conferences in January to outline priorities and sound out major themes that will shape the regulatory landscape in the country's banking, securities, capital markets, and futures sectors in 2008. Although many of the statements and terms that emerged from the conferences were vague, analysts have parsed these pronouncements for clues about the internal regulatory roadmaps for the new year.

China Banking Regulatory Commission (CBRC)...
January 30th, 2008

The groundbreaking for the construction of the new Beijing-Shanghai high-speed railway on January 18 kicked off an unprecedented year for investment in China's railroads, according to statements by the PRC Ministry of Railways (MOR). The project reflects a renewed focus on expanding and improving China's overburdened passenger transport network and freight transport channels, just as unusually severe winter conditions have highlighted China's transport woes.

High-speed railways lead new...

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