AmCham Shanghai 2024 China Business Report Released and more...

AmCham Shanghai 2024 China Business Report Released

AmCham Shanghai released its 2024 China Business Report yesterday. Amid uncertainty in the US-China relationship and macroeconomic pressures, member companies report a less optimistic outlook for China and challenges with bottom-line financials. There are significant variations across industries, however, depending on their business results and growth prospects, and member companies do note improvements in the regulatory environment. The report has been covered by several outlets including The Wall Street Journal, Reuters, Nikkei Asia, CNBC and the South China Morning Post.

Members can download the report here.

POLICY

• This week is “China Week” in the US House of Representatives as lawmakers vote on a slew of China-related legislation. More
• The leader of the US Indo-Pacific Command and leader of China’s Southern Theater Command, both of which cover the South China Sea (the Indo-Pacific Command also covers the Taiwan Strait), held a video call on Tuesday. More
• On Sunday, the Chinese government revised its negative lists for foreign investment for the first time since 2021, removing the remaining restrictions on manufacturing and opening up the healthcare sector. More
• Reuters and Bloomberg report that the EU will lower its tariff rates for some EVs manufactured in China after announcing proposed duties late last month.
• A committee under the Cyberspace Administration of China released an initial draft for a framework regarding AI safety on Monday. More

BUSINESS & ECONOMY

• Chinese exports grew 8.7% year-over-year in dollar terms in August, the fastest jump since March 2023. More
• China’s consumer price index was up 0.6% y-o-y last month, an acceleration from 0.5% in July but slightly below expectations. More

ANALYSIS

• The European Chamber released its annual position paper on Wednesday, outlining more than 1,000 recommendations for the Chinese government to improve the business environment across a wide range of industries. More
• The US-China Business Council also released its annual member survey this week, which had 140 respondents. More

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