China Market Intelligence

August 29th, 2007

The PRC State Council recently appointed new high-ranking cabinet officials and removed others.

Jiang Weixin was appointed vice minister of Construction and removed from his post as a vice chair of the National Development and Reform Commission; Gao Hongbin was appointed vice minister of Agriculture; Li Bin was appointed vice commissioner and Chinese Communist Party (CCP) secretary of the National Population and Family Planning Commission of China. Zhang Weiqing was...
August 29th, 2007

The PRC National Development and Reform Commission (NDRC) last week publicly released a broad blueprint for pushing forward China's economic reforms in 2007, emphasizing areas such as financial and tax systems, foreign investment, trade, healthcare, social security, state-owned enterprises (SOEs), the rural economy, energy, and the environment. Like similar state plans, the Opinion on the 2007 Work Plan on Deepening Economic Reforms lacks concrete details, though the work plan may result in...

August 29th, 2007

China's urban fixed-asset investment climbed to RMB 5.7 trillion ($750.1 billion) in the first seven months of 2007, up 26.6 percent year on year. Investment from domestic enterprises constituted 88.5 percent of the total, while foreign investment made up only 6 percent.

Investment appeared to primarily target natural resources industries, including coal mining and washing (up 17.2 percent), petroleum and natural gas extraction (up 10.4 percent), ferrous and nonferrous metal smelting...

August 22nd, 2007

The US-China Business Council (USCBC) is stepping up its effort to counter potentially harmful legislation that Congress may consider after it reconvenes in September.

Separate legislative tracks are developing in the US House of Representatives and Senate. As previously reported in the CMI and Washington Update, the Senate debate will center on currency and competing measures that would revise the content and approach of the US Department of Treasury's semiannual exchange rate report...

August 22nd, 2007
China's first white paper on food safety

The PRC State Council Information Office last week issued a comprehensive white paper, "The Quality and Safety of Food in China," that outlines China's food industry development, addresses food quality issues, and details PRC government efforts to improve the country's domestic food supervision system and the safety of food imports and exports. The first of its kind on China's food safety, the white paper comes amid escalating US...

August 22nd, 2007
Corporate bonds

The China Securities Regulatory Commission (CSRC) recently published trial rules that significantly loosen restrictions on the types of companies allowed to issue corporate bonds—a step forward in China's ongoing effort to create viable alternative sources of funding for its companies. Current regulations permit only a few large state-owned enterprises to issue corporate bonds. The new rules authorize all eligible companies to issue bonds without special...

August 22nd, 2007

To facilitate the development of China's venture capital (VC) market, the PRC National Development and Reform Commission (NDRC) and Ministry of Finance (MOF) last week jointly issued Trial Guidelines on Applying for VC Investment Projects in High-Tech Research and Development (R&D), which detail encouraged technologies that investments should target. NDRC highlighted China's VC market as a focus area in its 11th Five-Year Plan (FYP, 2006-10) on the Development of High-Tech Industry,...

August 15th, 2007

Food and product safety remains a major concern on both sides of the Pacific, and discussions on how to address these issues continue in Beijing and Washington.On the heels of recent action, the PRC and US governments have been building their efforts to cooperate on these matters.

Groups formed to focus on problems

President George W. Bush on July 18 created the Import Safety Working Group, a special panel focusing on the safety of imported products, headed by...

August 15th, 2007

The China Insurance Regulatory Commission (CIRC) in recent weeks released draft rules for comment that could limit foreign investment in domestic insurance companies and provisional measures on managing capital guarantee deposits.

Foreign ownership limitations in domestic firms

Domestic insurance firms are firms in which foreign investors have a stake of less than 25 percent, according to the new definition in CIRC's draft Regulations for the Management of Share...

August 15th, 2007

The PRC State Food and Drug Administration (SFDA) recently released its Second Half 2007 National Medical Equipment Special Administrative Work Plan, one of several actions that the PRC government has taken to ensure the safety of medical equipment used in China and improve procurement efficiency.

The plan calls for closer examination of information provided in registration applications across the three categories of medical equipment, including equipment currently undergoing the...

Pages