In just two weeks, top US and PRC economic officials will meet in Washington, DC, for the second round of the Strategic Economic Dialogue (SED). US Secretary of the Treasury Henry Paulson, who chairs the US side of the dialogue, previewed the upcoming SED in a speech on May 2 at the Peter G. Peterson Institute for International Economics in Washington.
China Market Intelligence
USTR released its annual Special 301 report on April 30, putting China on the priority watch list for the third year in a row and continuing Section 306 monitoring (see Box). For the first time, the report includes a review of intellectual property rights (IPR) enforcement at the provincial level.
The PRC State Council in late April released long-awaited regulations on government information disclosure that may boost government transparency and accountability. As with all PRC laws and regulations, however, the effect of these regulations will depend on how individual agencies at the national and local level interpret and implement them.
USCBC Vice President for China Operations Bob Poole on April 24-27 led a delegation of USCBC member company representatives to the Second Central China Investment and Trade Expo in Zhengzhou, Henan. While in Zhengzhou, the USCBC delegation met with Vice Minister of Commerce Ma Xiuhong and, together with an American Chamber of Commerce-China delegation, PRC Minister of Commerce Bo Xilai.
China appointed four new ministers during the last meeting of the NPC Standing Committee, which concluded in Beijing in late April. The four ministers who were replaced had passed the retirement age of 65 for PRC officials. More State Council personnel changes are likely to take place as the upcoming Chinese Communist Party (CCP) Congress approaches.
China's economy expanded at a faster-than-expected rate of 11.1 percent in the first three months of the year, largely driven by fixed-asset investment and exports.
In an attempt to curb energy inefficient, environmentally unfriendly, and low-value-added processing trade, the PRC Ministry of Commerce (MOFCOM) recently issued a notice that calls on local commerce authorities to more tightly regulate and monitor enterprises engaged in processing trade.
In a welcome act of regulatory transparency, the China Insurance Regulatory Commission (CIRC) on April 13 posted draft Measures on the Administration of Life Insurance Products for comment by May 15.
The US-China Business Council (USCBC) today released a breakdown of US individual state exports to China during the 2000-06 period that shows the remarkable growth of China as an export market for US goods.
US Department of Transportation (DOT) Secretary Mary E. Peters recently visited Shanghai and Beijing to advocate for the liberalization of China's transportation sector, particularly the aviation market.