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.
China Market Intelligence
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.
Since last week's CMI, the US Congress has taken more action on China-related issues and legislation before its official recess began on August 6.
In a move to strengthen environmental protection, China recently adopted new guidelines to create financial incentives for firms to obey environmental regulations.
US-China Business Council (USCBC) President John Frisbie visited Beijing, Shanghai, and Hong Kong during the last two weeks of July to meet with senior PRC government officials and advocate USCBC positions. Frisbie also met with member company representatives to learn about their key operating and policy concerns.
US Treasury Secretary Henry Paulson last week visited China for the fourth time since assuming his current office to work on the Strategic Economic Dialogue (SED) framework between the United States and China.
As the first session of the 110th Congress approaches its August recess, members of Congress have intensified their focus on China. When the session began in January, the Democratic majority made addressing international trade imbalances a priority. As a result, members of both the Senate and House have introduced legislation aimed at China.
The PRC Ministry of Commerce (MOFCOM) and General Administration of Customs on July 23 jointly issued Announcement 44, adding 1,853 commodity categories to the Catalogue on Restricted Processing Trade Commodities. Products in the catalogue, which include plastics, textiles, and furniture, face import and export restrictions.
The PRC National Development and Reform Commission in July officially released a comprehensive plan for the development of China's high-tech industries through 2010.