At last year’s National People’s Congress (NPC), China launched a massive government restructuring to streamline policymaking and enforcement. Throughout the months-long reorganization process, the government continued to move ahead with policy reforms in some areas, while other regulations on the NPC 2018 work plan were not addressed.
China Market Intelligence
This year’s National People’s Congress (NPC) which took place March 5-15 included a few key announcements that may provide a window into the business environment in the coming year.
China’s National People’s Congress today finalized and passed its new Foreign Investment Law (FIL) (unofficial English translation) on the last day of its ses
US-China Business Council (USCBC) sources indicated this week that China’s draft Foreign Investment Law (FIL) continues to be revised as it nears final consideration by the National People’s Congress (NPC), even though a final draft has not been released publicly.
The US-China Business Council (USCBC) is tracking developments at the ongoing National People’s Congress (NPC), China’s highest legislature, which began in Beijing on March 5. On the first day of the NPC, Premier Li Keqiang announced certain tax cuts and spending increases for infrastructure projects.
The victory could improve US farmers’ ability to compete in the Chinese market, but prospects for China’s implementation of the ruling are still uncertain. Reversing the impact of subsidies may take considerable time.
The US-China Business Council (USCBC) in January and February collected provincial government engagement priorities from the China teams of nearly 40 member companies representing a variety of industries. Guangdong, Shanghai, and Jiangsu ranked as the top priorities for engagement in 2019.
Premier Li Keqiang announced that China will reduce the value-added tax (VAT) rate in manufacturing, construction, and transportation and increase spending on infrastructure. The move will benefit both domestic and foreign businesses operating in China.