The Office of the US Trade Representative (USTR) last Friday initiated dispute settlement proceedings against China at the WTO, arguing that PRC government subsidies to domestic and foreign companies violate WTO rules.
China Market Intelligence
The PRC Ministry of Labor and Social Security (MLSS) issued on January 29 an outline of its 2007 work plan, which covers broad goals for employment stability, social security, labor relations, and the rights of rural workers. The plan calls on the PRC government to step up internal controls for supervision of the social security fund and to speed up legislative work on a range of labor issues.
The PRC National Development and Reform Commission (NDRC) last week released its macroeconomic policy outlook for 2007, which emphasizes the reform of China's financial system, foreign investment and trade, balanced development among regions, better environmental and energy standards, and continued land use reform.
The PRC Ministry of Science and Technology, State Intellectual Property Office, MOFCOM, and NDRC jointly released the Development Guide of the Current High-Tech Industrialization Priority Areas, which lists 130 items across 9 sectors as focuses of China's innovation drive in 2007.
Several teams of US government officials are in China this week and next to meet with their PRC counterparts on preparations for the next Strategic Economic Dialogue (SED), which will take place in Washington, DC, in the second half of May.
Assistant Secretary of Commerce for Export Administration Christopher Padilla was recently in China to discuss proposed changes to US export controls with PRC officials and US businesses. Meanwhile in Washington, DC, the White House has requested another review of the economic impact of the proposed changes, potentially further delaying the implementation of the rule.
The PRC State Council recently outlined its plans for managing China's largest state-owned enterprises (SOEs) and offered insights into its current strategic economic policy, which includes continued state domination in designated key sectors and the overhaul of the large SOEs directly under the supervision of the State Assets Supervision and Administration Commission (SASAC).
The PRC General Administration of Press and Publications (GAPP) recently issued its 11th Five-Year Plan (FYP, 2006-10) that outlines broad guidelines and goals to help shape the development of the media and publishing industry in China. Worth noting in the plan are the intensifying focuses on creating a strong digital publishing industry and combating IPR violations.
USCBC hosted an aviation forum in Beijing on January 29 to discuss reforms of, and improved market access to, China's aviation sector.
China's top financial officials and planners met at a national conference last week and endorsed a range of policies concerning the restructuring of an ailing state bank, better use of ballooning foreign exchange (forex) reserves, and expansion of the bond market that they hope will sustain high growth rates and maintain China's position as the world's fourth