Research & Analysis

US and Chinese officials are meeting more frequently than in recent years, thanks in large part to the over a dozen working groups and dialogues established or restarted amid a thaw in bilateral relations that began in 2023. These mechanisms were established to address global and bilateral issues relating to economics and trade, military-to-military communications, climate change, counternarcotics, and more.

US-China technology competition is expected to continue unabated in 2024. In high tech, both governments continue to de-risk their economies from the other’s through industrial policy and export controls, which have spilled over into previously uncontrolled sectors, such as cloud computing.

Last Friday through Saturday, National Security Advisor Jake Sullivan met with Chinese Foreign Minister Wang Yi to broker details on several areas of US-China cooperation agreed upon by President Joe Biden and President Xi Jinping late last year. Sullivan and Wang discussed recent efforts, such as officially resuming military-to-military dialogue between the United States and China earlier this month, and plans for the future, including the possibility of hosting a US-China dialogue focused on AI.

The House Select Committee on the CCP is pushing for tougher enforcement of the US ban on imports from China’s Xinjiang province. Committee leadership has called for expanding screening measures, adding more Chinese firms to a forced labor blacklist, and lowering the de minimis threshold.

China’s 2023 GDP growth was above 5 percent, surpassing the official target. Given that China’s economic performance in 2022 was lackluster, China will require much stronger economic activity to maintain a similar growth rate. Policymakers continue to opt for limited fiscal stimulus and are instead looking to attract foreign investment to catalyze growth for the time being.

Multiple states in the United States are considering passing legislation to regulate land purchases by Chinese entities in 2024. This is a continuation of a pattern that began last year that reflects broader tensions between the United States and China.

As 2024 begins, it is essential to understand how dynamics between the United States and China changed over the course of last year. At the start of 2023, China had only just begun unwinding its zero-COVID policies.

During a Wednesday hearing on US capital flows to China, the House Foreign Affairs Committee (HFAC) outlined its favored approach to regulating outbound investment: The Preventing Adversaries from Developing Critical Capabilities Act. The bill is similar to the executive order (EO) on outbound investment that President Joe Biden signed last summer, as it takes a sectoral approach to screening outbound investment.

Nearly ten months after the Chinese government lifted its zero-Covid policies, USCBC member company representatives are resuming travel to China to visit colleagues, business partners, and government stakeholders. The resumption of business travel to China reflects a return to normal business operations in China after nearly three years of severe travel restrictions. This guide addresses common questions and concerns we receive from members who are planning travel or reviewing internal policies.

In a letter first publicly released on Monday, Chair of the Select Committee on the CCP Mike Gallagher (R-WI) and Ranking Member Raja Krishnamoorthi (D-IL) urged Commerce Secretary Gina Raimondo and US Trade Representative Katherine Tai to “utilize all existing trade authorities” to address potential actions by China that distort the market for older-generation microchips.