Page 38 - 2023 White Paper on the Business Environment in China
P. 38
3 White Paper on the Business Environment in China
Chinese climate envoy Xie Zhenhua met with May 3, 2022 – USTR signals it may lift trade
US counterpart John Kerry at the 2022 World tariffs on some Chinese goods. The website of
Economic Forum (WEF) in Davos to discuss the Office of the US Trade Representative (USTR)
cooperation on tackling climate change. The two claimed the US may lift tariffs on some Chinese
envoys found common ground on the issue, with goods on the four-year anniversary of the tariffs
both envoys calling for more urgent action being instated.
May 24, 2022 – US President Biden indicates April 21, 2022 – US Pentagon chief speaks to
a willingness to defend Taiwan militarily. US Chinese defense minister for the first time under
President Joe Biden stated that he would be Biden. The call was a “follow-up to the recent
willing to defend Taiwan militarily when asked by call between President Biden and Xi Jinping.”
media, but added that “My expectation is it will not Meanwhile, the State Council’s readout wrote that
happen, it will not be attempted”. In the response “China hopes to establish sound and stable major-
to the remarks, Foreign Ministry Spokesperson country relations with the United States” but that
Wang Wenbin stated in a press briefing that “The United States should not underestimate
“China expresses strong dissatisfaction and firm China’s determination and capability”.
opposition to the remarks by the US side” and
“We urge the US side to abide by the one-China March 25, 2022 – SEC adds Weibo to list of
principle and the stipulations in the three China- Chinese companies for possible delisting from
US joint communiqués”. US stock exchanges. The addition follows the
publication on March 10 of a provisional list of five
May 18, 2022 – US security advisor and top Chinese companies for possible delisting from US
Chinese diplomat hold phone call in follow-up to stock exchanges.
Rome meeting. US Security Advisor Jake Sullivan
and top Chinese diplomat Yang Jiechi held a March 23, 2022 – USTR reinstates tariff
phone conversation, in which Yang stated that “the exemptions on some Chinese goods. The tariff
United States has taken a series of wrong words exclusions had expired in 2019 and 2020, and were
and deeds that interfere in China’s internal affairs reinstated after consultation with US agencies and
and harm China’s interests.” the public. A total of 549 products were initially
up for consideration for reinstatement of tariff
May 11, 2022 – US removes key language exemptions, but only products that met certain
on its stance on Taiwan. Updates to the State criteria were ultimately chosen for the exclusions.
Department’s fact sheet on Taiwan, released
on May 5, 2022, committed key language on March 18, 2022 – Xi and Biden hold first
the US’ official stance on Taiwan, including that conference call since Russia-Ukraine war outbreak.
the US “[acknowledges] the Chinese position There are relatively few concrete details on what
that there is but one China and Taiwan is a part was discussed in the meeting, and the information
of China” and that it “does not support Taiwan provided by the US and Chinese sides is markedly
independence”. However, it still includes the different in tone and focus. However, both sides
sentence “The United States has a longstanding agreed the meeting revolved in large around the
one China policy, which is guided by the crisis in Ukraine, while also touching on the topic
Taiwan Relations Act, the three U.S.-China Joint of Taiwan.
Communiques, and the Six Assurances.
March 10 to 16, 2022 – SEC releases list of five
May 11, 2022 – Joe Biden says US may lift tariffs Chinese companies for possible delisting from
on Chinese goods to combat inflation. Foreign US stock markets. The HFCAA enables the SEC to
Minister Zhao Lijian urged the US to remove the prohibit the trading of the securities of foreign
tariffs, stating that “I think it’s time for the US companies listed on US stock exchanges if the
administration to reconsider and to cancel it as company is found to be unable to submit to an
early as possible”. He also said that the tariffs had audit by the Public Company Accounting Oversight
been detrimental to the US jobs and the economy. Board (PBAOC) due to legislation in their country
38
Chinese climate envoy Xie Zhenhua met with May 3, 2022 – USTR signals it may lift trade
US counterpart John Kerry at the 2022 World tariffs on some Chinese goods. The website of
Economic Forum (WEF) in Davos to discuss the Office of the US Trade Representative (USTR)
cooperation on tackling climate change. The two claimed the US may lift tariffs on some Chinese
envoys found common ground on the issue, with goods on the four-year anniversary of the tariffs
both envoys calling for more urgent action being instated.
May 24, 2022 – US President Biden indicates April 21, 2022 – US Pentagon chief speaks to
a willingness to defend Taiwan militarily. US Chinese defense minister for the first time under
President Joe Biden stated that he would be Biden. The call was a “follow-up to the recent
willing to defend Taiwan militarily when asked by call between President Biden and Xi Jinping.”
media, but added that “My expectation is it will not Meanwhile, the State Council’s readout wrote that
happen, it will not be attempted”. In the response “China hopes to establish sound and stable major-
to the remarks, Foreign Ministry Spokesperson country relations with the United States” but that
Wang Wenbin stated in a press briefing that “The United States should not underestimate
“China expresses strong dissatisfaction and firm China’s determination and capability”.
opposition to the remarks by the US side” and
“We urge the US side to abide by the one-China March 25, 2022 – SEC adds Weibo to list of
principle and the stipulations in the three China- Chinese companies for possible delisting from
US joint communiqués”. US stock exchanges. The addition follows the
publication on March 10 of a provisional list of five
May 18, 2022 – US security advisor and top Chinese companies for possible delisting from US
Chinese diplomat hold phone call in follow-up to stock exchanges.
Rome meeting. US Security Advisor Jake Sullivan
and top Chinese diplomat Yang Jiechi held a March 23, 2022 – USTR reinstates tariff
phone conversation, in which Yang stated that “the exemptions on some Chinese goods. The tariff
United States has taken a series of wrong words exclusions had expired in 2019 and 2020, and were
and deeds that interfere in China’s internal affairs reinstated after consultation with US agencies and
and harm China’s interests.” the public. A total of 549 products were initially
up for consideration for reinstatement of tariff
May 11, 2022 – US removes key language exemptions, but only products that met certain
on its stance on Taiwan. Updates to the State criteria were ultimately chosen for the exclusions.
Department’s fact sheet on Taiwan, released
on May 5, 2022, committed key language on March 18, 2022 – Xi and Biden hold first
the US’ official stance on Taiwan, including that conference call since Russia-Ukraine war outbreak.
the US “[acknowledges] the Chinese position There are relatively few concrete details on what
that there is but one China and Taiwan is a part was discussed in the meeting, and the information
of China” and that it “does not support Taiwan provided by the US and Chinese sides is markedly
independence”. However, it still includes the different in tone and focus. However, both sides
sentence “The United States has a longstanding agreed the meeting revolved in large around the
one China policy, which is guided by the crisis in Ukraine, while also touching on the topic
Taiwan Relations Act, the three U.S.-China Joint of Taiwan.
Communiques, and the Six Assurances.
March 10 to 16, 2022 – SEC releases list of five
May 11, 2022 – Joe Biden says US may lift tariffs Chinese companies for possible delisting from
on Chinese goods to combat inflation. Foreign US stock markets. The HFCAA enables the SEC to
Minister Zhao Lijian urged the US to remove the prohibit the trading of the securities of foreign
tariffs, stating that “I think it’s time for the US companies listed on US stock exchanges if the
administration to reconsider and to cancel it as company is found to be unable to submit to an
early as possible”. He also said that the tariffs had audit by the Public Company Accounting Oversight
been detrimental to the US jobs and the economy. Board (PBAOC) due to legislation in their country
38
