US-China relations and tariffs are the top concerns of US companies doing business in China. US-China relations continue to top the list of business challenges, and tariffs jumped from eighth to second place amid renewed trade frictions. Companies’ first priority for the bilateral negotiations that kicked off in May is tariff reduction.
Since China’s Cybersecurity Law came into effect in June of 2017, the government has implemented a series of cybersecurity regulations with wide-ranging consequences for foreign and domestic companies operating in China.
Despite the launch of China’s anti-corruption campaign in 2012 and a subsequent modest improvement in the compliance environment, US-China Business Council (USCBC) member companies continue to face local business practices and perspectives that make adherence to global compliance programs essential.
The US-China Business Council has released the key findings of its 2017 Annual Member Survey. For the past 12 years, USCBC has polled its members on their business performance in China and their priority issues.
China’s economic growth rate is slowing, but it remains an important market for US exports. In 2016, US goods exports to China totaled $113 billion, holding steady with the previous year and still the third-largest US goods export market behind Canada and Mexico, our neighbors and NAFTA partners.
The upcoming 19th National Party Congress in China is expected to mark the beginning of President Xi Jinping’s second, five-year term as China’s top leader and set in motion a series of changes to senior positions within the party and government.
The Chinese healthcare sector, which accounted for 6 percent of the country’s GDP in 2016, is expected to capture a 10 percent share in the coming years. Racing to establish a modern system of coverage, services, and products to accommodate the world’s largest population and fastest growing economy, China faces a number of development challenges.
Today, the US-China trade relationship actually supports roughly 2.6 million jobs in the United States across a range of industries, including jobs that Chinese companies have created in America.
As Chinese consumers gain greater spending power, their preferences and concerns are exerting greater influence on the market. Food safety has become a particular focus for Chinese consumers, and several recent high-profile food safety investigations have heightened public awareness and concerns on this front.
Information technology (IT) has created new channels for growth and revolutionized how companies do business. With the largest number of Internet users in the world, China has become a global hub for innovation in mobile application development, smart devices, ecommerce, mobile payments, and other frontiers of technology that integrate big data with internet-based functions to enhance traditional business models.
The latest US-China Business Council (USCBC) assessment of China’s economic reform efforts has not changed since the previous update in February 2016.
