Key details on the agenda and deliverables for President Donald Trump’s trip to China early next month remain unclear as Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer prepare to meet with China’s Vice Premier He Lifeng in Paris over Sunday and Monday.
On June 29, the State Council released a slew of new measures intending to simplify cross-border business and expand market access within six of China’s 21 free trade zones (FTZs): Beijing, Shanghai, Guangdong, Tianjin, Fujian, and Hainan. The measures come at a time when Chinese leaders are determined to revive both the domestic economy and investor confidence.
Bipartisanship is uncommon on Capitol Hill, but policymakers across party lines agree on investing in and regulating artificial intelligence (AI). This wake-up call has been driven, in-part, by a perception that China’s accelerated efforts to both develop its AI capabilities and regulate AI technologies will give the country an advantage in the foundational technologies that the United States and China are racing to lead.
On Thursday, Secretary of State Antony Blinken met with China’s top diplomat, Wang Yi, on the sidelines of the ASEAN Foreign Ministers Meeting in Jakarta, Indonesia. This was the second meeting between Blinken and Wang in less than a month, and it was described by the State Department as “candid and constructive,” with both sides agreeing to maintain communication.
On July 6, US Secretary of the Treasury Janet Yellen traveled to China for a four-day visit, with bilateral meetings taking place over two days. Her visit marked the second cabinet-level trip during the Biden administration, following Secretary of State Antony Blinken’s trip in June.
Treasury Secretary Janet Yellen arrived in Beijing on Thursday for a series of meetings with top Chinese officials that will continue through Sunday. Yellen plans to raise China’s unfair trade practices, market access barriers faced by US companies, and China’s new Anti-Espionage Law.
On June 21, the Ministry of Finance, Ministry of Industry and Information Technology (MIIT), and State Taxation Administration (STA) jointly announced that China will extend a purchase tax exemption for new energy vehicles (NEVs) in an effort to boost purchases in China’s massive automotive sector.
On June 28, China’s top legislature, the National People’s Congress (NPC) Standing Committee, adopted the Foreign Relations Law (FRL) after a second reading.
On May 29, the National People’s Congress (NPC) released its 2023 Legislative Work Plan, which outlines 13 laws to be reviewed by the NPC Standing Committee (NPCSC) during the June, August, and December NPC sessions. Shortly after, the State Council released its 2023 Legislative Work Plan, listing 17 laws and 17 regulations to be drafted and/or revised this year.
The week saw more senior level engagement between the United States and China, building on a commitment to look for areas ripe for collaboration made by both sides during Secretary of State Antony Blinken’s recent meetings in Beijing.
The Cyberspace Administration of China (CAC) released the draft Generative AI Services Management Plan on April 11. The plan would require service providers to adhere to stringent requirements to oppose algorithmic bias, prevent dissemination of information violating Chinese law, and protect personal information.
