On October 14, the Chinese Ministry of Justice (MOJ) shared with the US-China Business Council (USCBC) an advanced copy of its draft implementing regulations for the Foreign Investment Law (FIL). The public comment period began on November 1. The FIL was passed into law in March 15 of this year, and is scheduled to go into effect January 1, 2020. In anticipation of implementing regulations, USCBC in May submitted recommendations as to what the regulations should include, several of which...
China Market Intelligence
Following the release of the draft implementing regulations for the Foreign Investment Law (FIL) by the Ministry of Justice on November 1, the Chinese government has released more documents further clarifying and implementing two components of the FIL. Last Friday, the Ministry of Commerce (MOFCOM) released two draft measures on the information reporting system for the FIL for public comment.
Recent comments by the Chinese and US governments indicate that both sides are preparing for the announcement of a “phase one” agreement by mid-November. The outlines of the agreement are clear: the Chinese side will push forward commitments on intellectual property rights (IPR), financial services market access, agricultural purchases, agreement to not manipulate exchange rates, and promises not to engage in forced technology transfer.
The Chinese government is exploring the use of its corporate social credit system (SCS) as an intellectual property rights (IPR) enforcement tool. Under this system, placement on a new patent infringement blacklist released by China’s National Intellectual Property Administration (CNIPA) will, in turn, damage a company’s social credit rating. CNIPA is working closely with the State Administration for Market Regulation (SAMR), which will also rely on the SCS and other administrative measures...
Several provincial governments appointed banking executives to key political positions, which may indicate a greater focus on financial reform and intensifying competition between regions. China recently announced personnel changes, including at the Ministry of Foreign Affairs and the State Council offices in charge of Macau and Taiwan affairs.
Senior Chinese leaders stressed progress in bilateral negotiations and a commitment to accelerate domestic economic reform efforts during an October 16 to 17 visit to Beijing by a delegation of the US-China Business Council (USCBC) Board of Directors. The delegation met with Premier Li Keqiang, China Banking and Insurance Regulatory Commissioner Guo Shuqing, State Administration of Market Regulation Minister Xiao Yaqing, National Development and Reform Commission Vice Commissioner Ning Jizhe...
Recent inter-agency discussions have explored potential actions to restrict the types of access that Chinese companies have to US capital markets, such as listing on US stock exchanges and receiving investments from US investors.
Standards serve as the building blocks for product development and help ensure product functionality, interoperability, and safety. However, the landscape for standards setting is complex—countries set their own standards through a variety of government-led and grassroots-driven processes, and they also send stakeholders from government, industry, and academia to participate in international standards-setting organizations (SSOs).
The World Bank and the Development Research Center, a think tank under the Chinese government’s State Council, recently released Innovative China: New Drivers of Growth, a report meant to address the slowing yet maturing nature of China’s economic development, and to highlight areas the government can look toward to drive growth in the future.
The Ministry of Justice (MOJ) has provided USCBC with an advance copy of its draft implementing regulations for the Foreign Investment Law (FIL). The FIL was passed by the National People’s Congress in March and, along with its implementing regulations, will come into effect on January 1, 2020. In May, USCBC provided input to China’s National Development and Reform Commission on what the implementing regulations should include.