China Market Intelligence
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.
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.
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.
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.
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.
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.