Page 40 - 2023 White Paper on the Business Environment in China
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3 White Paper on the Business Environment in China
of origin. Chinese law prohibits companies from Highlights, Actions, and Consequences
disclosing audits to the PBAOC, leaving US-listed
Chinese companies stuck in the crossfire of China’s trade surplus swelled to a record
clashing US and Chinese legislation. US$877.6 billion in 2022 as exports rose despite
weakening US and European demand and
March 1, 2022 – The United States Trade anti-virus controls that temporarily shut down
Representative (USTR) doubles down on Shanghai and other industrial centers. Exports
competition with China in annual report. The increased 7% from 2021 to US$3.95 trillion,
USTR has said that it will realign its trade policies decelerating from 2021′s explosive 29.9% gain.
toward China in its 2022 Trade Policy Agenda Imports edged up 1.1% to US$2.7 trillion, cooling
and 2021 Annual Report, which details the work from the previous year’s 30.1% rise as economic
the organization will do to implement the Biden growth slowed and consumer spending weakened.
Administration’s trade policies. The country’s politically volatile global trade
surplus expanded by 29.7% from 2021′s record,
February 22, 2022 – Chinese Foreign Minister already the highest ever for any economy. Export
Wang Yi clarifies China’s position on the Ukraine- growth slumped late in the year after the Federal
Russia crisis at Munich Security Conference. Reserve and other central banks raised interest
Wang Yi said that “All countries’ sovereignty, rates to cool record-setting inflation by slowing
independence and territorial integrity must economic activity. December 2022 exports fell
be safeguarded because these are the basic for a third month, contracting by 10.1% from a
principles in international relations established year earlier to US$306.1 billion. That was bigger
through the United Nations Constitution.” Wang than November’s 9% slide. Exports to the United
has previously called for diplomacy, stating that States in 2022 edged up 1% over 2021 to US$581.8
“All parties should work for the comprehensive billion despite tariff hikes by President Joe Biden’s
resolution of the Ukraine crisis […] through predecessor, Donald Trump, that still are in place
dialogue and negotiation.” on many goods. Chinese imports of American
goods declined 1% to US$177.6 billion. China’s
February 7, 2022 – US adds 33 Chinese annual trade surplus with the United States, one
entities to its “unverified list”. The US Commerce of the irritants that prompted Trump to hike
Department’s Bureau of Industry and Security (BIS) tariffs, widened by 1.8% from 2021 to US$404.1
listed entities will face tougher rules on receiving billion. Forecasters expect Chinese export growth
shipments from US exporters. Most entities being to weaken further as the possibility of recession in
listed on the UVL are high-tech manufacturers, Western economies increases. China’s exports are
including those producing laser components and likely to contract until the middle of 2023. Exports
pharmaceuticals, government research labs, and to the United States fell 19.5% in December 2022
universities. The Chinese entities being flagged by from a year earlier to US$301.1 billion. Imports of
the UVL overlap with those on the so-called Entity American goods shrank 7.3% to US$228.1 billion.
List and “military end-user” list. That produced a US$78 billion surplus, down
17.5% from a year earlier. Exports to the 27-nation
February 5, 2022 – US House of Representatives European Union tumbled 39.5% to US$43.6 billion.
passes America Competes Act. Among other Imports of European goods fell 31.3% to US$24
issues, the bill outlines provisions for the US to billion. China’s trade surplus with Europe fell
strengthen ties with Taiwan, further implement 50% to US$19.6 billion. Also, in December 2022,
sanctions on officials accused of committing Chinese imports from Russia, mostly oil and gas,
atrocities in Xinjiang province, and increase rose 8.3% over a year earlier to US$9 billion. China,
scrutiny and review of Chinese companies that the biggest global energy consumer, has stepped
have “contributed to the repression of religious up purchases from Russia to take advantage of
and ethnic minorities within the PRC”. Government price discounts after Washington, Europe and
insiders and analysts have said that the bill is Japan cut imports to punish President Vladimir
unlikely to pass in its current form due to the Putin’s government for its attack on Ukraine. China
inclusion of partisan issues. (China Briefing Team) can buy Russian oil and gas without triggering
40
of origin. Chinese law prohibits companies from Highlights, Actions, and Consequences
disclosing audits to the PBAOC, leaving US-listed
Chinese companies stuck in the crossfire of China’s trade surplus swelled to a record
clashing US and Chinese legislation. US$877.6 billion in 2022 as exports rose despite
weakening US and European demand and
March 1, 2022 – The United States Trade anti-virus controls that temporarily shut down
Representative (USTR) doubles down on Shanghai and other industrial centers. Exports
competition with China in annual report. The increased 7% from 2021 to US$3.95 trillion,
USTR has said that it will realign its trade policies decelerating from 2021′s explosive 29.9% gain.
toward China in its 2022 Trade Policy Agenda Imports edged up 1.1% to US$2.7 trillion, cooling
and 2021 Annual Report, which details the work from the previous year’s 30.1% rise as economic
the organization will do to implement the Biden growth slowed and consumer spending weakened.
Administration’s trade policies. The country’s politically volatile global trade
surplus expanded by 29.7% from 2021′s record,
February 22, 2022 – Chinese Foreign Minister already the highest ever for any economy. Export
Wang Yi clarifies China’s position on the Ukraine- growth slumped late in the year after the Federal
Russia crisis at Munich Security Conference. Reserve and other central banks raised interest
Wang Yi said that “All countries’ sovereignty, rates to cool record-setting inflation by slowing
independence and territorial integrity must economic activity. December 2022 exports fell
be safeguarded because these are the basic for a third month, contracting by 10.1% from a
principles in international relations established year earlier to US$306.1 billion. That was bigger
through the United Nations Constitution.” Wang than November’s 9% slide. Exports to the United
has previously called for diplomacy, stating that States in 2022 edged up 1% over 2021 to US$581.8
“All parties should work for the comprehensive billion despite tariff hikes by President Joe Biden’s
resolution of the Ukraine crisis […] through predecessor, Donald Trump, that still are in place
dialogue and negotiation.” on many goods. Chinese imports of American
goods declined 1% to US$177.6 billion. China’s
February 7, 2022 – US adds 33 Chinese annual trade surplus with the United States, one
entities to its “unverified list”. The US Commerce of the irritants that prompted Trump to hike
Department’s Bureau of Industry and Security (BIS) tariffs, widened by 1.8% from 2021 to US$404.1
listed entities will face tougher rules on receiving billion. Forecasters expect Chinese export growth
shipments from US exporters. Most entities being to weaken further as the possibility of recession in
listed on the UVL are high-tech manufacturers, Western economies increases. China’s exports are
including those producing laser components and likely to contract until the middle of 2023. Exports
pharmaceuticals, government research labs, and to the United States fell 19.5% in December 2022
universities. The Chinese entities being flagged by from a year earlier to US$301.1 billion. Imports of
the UVL overlap with those on the so-called Entity American goods shrank 7.3% to US$228.1 billion.
List and “military end-user” list. That produced a US$78 billion surplus, down
17.5% from a year earlier. Exports to the 27-nation
February 5, 2022 – US House of Representatives European Union tumbled 39.5% to US$43.6 billion.
passes America Competes Act. Among other Imports of European goods fell 31.3% to US$24
issues, the bill outlines provisions for the US to billion. China’s trade surplus with Europe fell
strengthen ties with Taiwan, further implement 50% to US$19.6 billion. Also, in December 2022,
sanctions on officials accused of committing Chinese imports from Russia, mostly oil and gas,
atrocities in Xinjiang province, and increase rose 8.3% over a year earlier to US$9 billion. China,
scrutiny and review of Chinese companies that the biggest global energy consumer, has stepped
have “contributed to the repression of religious up purchases from Russia to take advantage of
and ethnic minorities within the PRC”. Government price discounts after Washington, Europe and
insiders and analysts have said that the bill is Japan cut imports to punish President Vladimir
unlikely to pass in its current form due to the Putin’s government for its attack on Ukraine. China
inclusion of partisan issues. (China Briefing Team) can buy Russian oil and gas without triggering
40
