In the lead up to the seventeenth Chinese Communist Party (CCP) Congress, which convenes on October 15 in Beijing, the State Council last week replaced Jin Renqing with Xie Xuren as minister of Finance.
China Market Intelligence
The PRC General Administration of Quality Supervision, Inspection, and Quarantine (AQSIQ), on August 31 announced the creation of China's first recall system for unsafe food and toys.
The US-China Business Council (USCBC) recently met with officials at the State Administration for Industry and Commerce (SAIC) in Beijing to discuss corporate structures, trademark protection, and other issues of concern to member companies.
The Standing Committee of the Shanghai Municipal People's Congress on August 17 passed the Regulations on Collective Contracts, which appear to require all enterprises located within the municipality to use a collective bargaining process. The rules are based on China's new Labor Contract Law, for which national implementing regulations have yet to be issued.
Over the past year, US-China Business Council (USCBC) member companies have stated that a key priority for their companies' China operations is to better understand how to manage and upgrade their China-based government affairs function.
The PRC State Council recently appointed new high-ranking cabinet officials and removed others.
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.
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.
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.