This week, the United States and China continued to take action on commitments made during the leaders’ meeting in October.
If you work around hazardous chemicals, there are badges that you’ll want to wear because they will save your life. The very smart badges are made by Morphix Technologies, a small company in Virginia Beach, VA, and they have big sales in China, Europe, and elsewhere.
The Ministry of Industry and Information Technology (MIIT) released a notice regarding platforms that collect internet product security vulnerabilities. The notice requires all such platforms to file a range of details with MIIT, including the web page URL, Chinese Internet Content Provider License, name and contact information of the sponsor, scope of vulnerability collection, rules for public release of this information, etc.
From December 15 to December 16, senior Chinese leaders convened for the Central Economic Work Conference (CEWC) to discuss key economic goals for the year ahead. At this year’s conference, implementing a new development pattern emerged as a key theme—signaling a focus on revitalizing economic growth.
In a significant breakthrough, the Public Company Accounting Oversight Board (PCAOB) announced on Thursday that it was able to secure complete access to inspect and investigate audit firms in China for the first time in history. PCAOB Chair Erica Williams credited the access to the Holding Foreign Companies Accountable Act (HFCAA), which Congress passed in 2020.
The US-China Business Council’s annual Export Report takes a deep dive into the goods and services that US businesses export to China every year and the American jobs supported by those exports.
In March 2022, China set an annual 2022 growth target of 5.5 percent, a goal the economy will almost certainly not meet. Following COVID-19 outbreaks, a declining property sector, slowing consumer confidence, and weakening exports, the median growth forecast sits at 3.3 percent. Looking ahead, China will likely continue to face a similar set of challenges for 2023.
With the Senate staying in Democratic hands, committee leadership will stay relatively intact. However, multiple long-time GOP legislators retired at the end of the 117th Congress, paving the way for new committee leadership on the Republican side.
In October, the Chinese Communist Party announced top party personnel changes and delivered its work report at the 20th Party Congress. The work report lays out priorities and strategic plans for the Chinese government, including facilitating high-quality development and strengthening national security under a more centralized decision-making framework, and the personnel changes have implications for how these priorities will be carried out.
The Cyberspace Administration of China’s (CAC) regulations governing security reviews of cross-border data transfers (CBDTs) came into effect on September 1, 2022, with a six-month grace period that ends on March 1, 2023. In order to support members’ ongoing efforts to understand their obligations and benchmark with peers in the business community, USCBC has compiled the below FAQ.
I’m happy to report that I am safely back in Washington, DC, after a productive five-week trip to China. After 10 days in quarantine and 10 days of work meetings in Shanghai, the final leg of my trip was in Beijing—the political center of China—where we met with key central government stakeholders, academic and think tank experts, and member companies.
