Xi Visits Tianjin - Reviewing Xi Thought Education Campaign - Liu Jianchao Meets Delegations from Malawi & Lesotho - Provincial GDP Targets - Real Estate White Lists - US-China Friction
Xi Jinping is visiting Tianjin ahead of the Spring Festival. So far, all that’s reported is that he visited a village in Xiqing District on Thursday to learn about the recovery of farming activities after last year's floods. Then, he went to a historical street in the urban area of the city to check the supply of goods for the holiday season, as well as the protection and utilisation of historical and cultural blocks.
Here are the key reports and articles that I found noteworthy from the People's Daily’s edition on Friday, February 02, 2024.
Page 1: The lead story today is on Xi Jinping’s comments at the Politburo study session, which I covered yesterday. The other top article on the page today is a review of the Xi Jinping Thought education campaign.
It begins by telling us that the campaign was a “strategic decision”. “This is a great mobilisation for embarking on a new journey and achieving new accomplishments. Towards the bright prospect of building a strong nation and national rejuvenation, General Secretary Xi Jinping has issued a call to the entire Party: ‘We must take this thematic education campaign as an opportunity to strengthen Party’s arming with its innovative theory, continuously improve the overall Marxist level of the Party, constantly enhance the Party’s governance capability and leadership level, unite and concentrate on forging ahead in a new journey, work hard and move forward with courage, and unite in the struggle for the comprehensive construction of a socialist modern country and the great rejuvenation of the Chinese nation!” 这是一次再启新程、再创伟业的大动员——向着强国建设、民族复兴的光明前景，习近平总书记向全党发出号召：“我们要以这次主题教育为契机，加强党的创新理论武装，不断提高全党马克思主义水平，不断提高党的执政能力和领导水平，为奋进新征程凝心聚力，踔厉奋发、勇毅前行，为全面建设社会主义现代化国家、全面推进中华民族伟大复兴而团结奋斗!”
The first section then offers a timeline of events.
In the report of the 20th Party Congress, General Secretary Xi Jinping proposed to carry out in-depth thematic education throughout the party with a focus on leading cadres at the county level and above, emphasising the need to adhere to the unity of learning, thinking, application, knowledge, belief and action. The aim was to transform the Thought on Socialism with Chinese Characteristics for a New Era into a powerful force that strengthens ideals, tempers Party spirit, guides practice, and promotes work.
At the First Plenary Session of the 20th Central Committee, General Secretary Xi Jinping pointed out the importance of understanding, grasping, and implementing the Thought on Socialism with Chinese Characteristics for a New Era; adhere to and apply the positions, viewpoints, and methods that run through it, ensuring the thorough implementation of this thought throughout all aspects of the work of the Party and the country.
The Second Plenary Session of the 20th Central Committee made it clear that the education on the theme of studying and implementing Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era must be carried out throughout the Party. It clarified that scientific planning, careful organisation, and strengthening of theoretical study and application are required in order to achieve tangible results.
The campaign then finally began on April 3, 2023.
习近平总书记在党的二十大报告中提出以县处级以上领导干部为重点在全党深入开展主题教育，强调坚持学思用贯通、知信行统一，把新时代中国特色社会主义思想转化为坚定理想、锤炼党性和指导实践、推动工作的强大力量。在党的二十届一中全会上，习近平总书记指出，学懂弄通做实新时代中国特色社会主义思想，坚持好、运用好贯穿其中的立场观点方法，把这一思想贯彻落实到党和国家工作各方面全过程。党的二十届二中全会明确，在全党深入开展学习贯彻习近平新时代中国特色社会主义思想主题教育，要科学谋划、精心组织，强化理论学习和运用，取得实实在在的成效. 2023年4月3日，这场理论大学习、思想大武装拉开大幕。主题教育工作会议上，习近平总书记发表重要讲话，对开展主题教育的重大意义、目标要求作出深刻阐述，并对主题教育各项工作作出全面部署.
The next bit stresses the importance of the guidance of Marxist scientific theory as “the foundation for the Party to strengthen its beliefs and seize the historical initiative.” 拥有马克思主义科学理论指导是我们党坚定信仰信念、把握历史主动的根本所在.
“Keeping in mind the overall strategy of the great rejuvenation of the Chinese nation and the profound changes unseen in the world in a century, the CPC Central Committee with comrade Xi Jinping at its core has demonstrated a foresight, assessed the situation, profoundly summed up historical experience, grasped the development needs of the times, and led the whole Party to deeply study and understand the latest achievements of adapting Marxism to China and the times; and it has continued to deepen the theoretical foundation and forge the soul of faith to write well the epic of upholding and developing socialism with Chinese characteristics.” 立足中华民族伟大复兴战略全局和世界百年未有之大变局，以习近平同志为核心的党中央高瞻远瞩、审时度势，深刻总结历史经验，把握时代发展需要，引领推动全党深入学习领会马克思主义中国化时代化最新成果，继续为写好坚持和发展中国特色社会主义这篇大文章扎深理论之根、铸牢信仰之魂。
We then get a quote from Xi: “Ideological unity is the basis for political unity and action unity.” “思想统一是政治统一、行动统一的基础。”习近平总书记强调.
And in this context, the Xi thought education campaign is compared to some key historical moments.
“From the ideological baptism of the Yan'an Rectification Movement, to the ideological emancipation brought about by the great discussion on the standards for judging the truth, and then to the great exploration of upholding and developing Socialism with Chinese characteristics.....The Party’s magnificent century-long history of struggle is a history of building the Party through ideas and strengthening the Party with theory, constantly enhancing inner-party unity and rallying the will of the whole Party. As General Secretary Xi Jinping pointed out: Our Party has always attached great importance to arming itself with theory. At every major historical juncture, the Party’s innovative theories must be used to unify the whole Party’s thinking. Every time the Party conducts intensive education, it also insists on taking theoretical study as the primary task and carrying it out throughout, laying a solid ideological foundation for the solidarity and unity of the whole Party.” 从延安整风运动的思想洗礼，到真理标准问题大讨论带来的思想大解放，再到坚持和发展中国特色社会主义的伟大探索……一部波澜壮阔的百年奋斗史，就是一部以思想建党、理论强党不断增进党内团结、凝聚全党意志的历史。正如习近平总书记指出的：“我们党始终高度重视理论武装，每逢重大历史关头，都要用党的创新理论统一全党思想，每次党内集中教育也都坚持把理论学习作为首要任务并贯穿始终，为全党团结统一奠定坚实思想基础.” —
Comment: This is very interesting, shedding light on the leadership’s perception of the significance of the present moment. It also underscores how fundamentally the Party and governance systems are changing. There’s no going back to the way things once were, politically or in terms of economic policy. But what is noteworthy is that discussion on the standards for judging the truth was mentioned in this as a key historical moment. This debate in the late 1970s eventually ended in an emphasis on practice. This obviously was in opposition to the Two Whatevers. Is this subtle pushback? Or is this indicative of being permissive of tactical flexibility while seeking rigidity in strategic direction?
The article then informs that on March 30, 2023, during the Politburo’s study session on the Xi Jinping Thought education campaign, Xi said that “the Thought on Socialism with Chinese Characteristics for a New Era has gone through a 10-year development process. Along with this process, we have also promoted the whole Party to study for 10 years and achieved remarkable results. However, the task of arming ourselves with theory is still arduous.” 2023年3月30日，中央政治局就学习贯彻习近平新时代中国特色社会主义思想进行集体学习。习近平总书记深刻指出：“新时代中国特色社会主义思想历经了10年的发展历程，伴随着这一历程，我们也推动全党学习了10年，取得了明显成效。但是，理论武装的任务仍然艰巨.”
“At present, China’s development is facing new strategic opportunities, new strategic tasks, new strategic stages, new strategic requirements, and new strategic environments. In the critical period of the beginning of the comprehensive construction of a modern socialist country, and in order to continue to advance the unprecedented pioneering cause of Chinese-style modernization, it is imperative to unwaveringly employ Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era to arm minds, guide practice, and promote work. Only by using the Party’s innovative theory as the master key for studying and solving problems can we continue to gain advantages, take the initiative, and win the future.” 当前，我国发展面临新的战略机遇、新的战略任务、新的战略阶段、新的战略要求、新的战略环境。置身全面建设社会主义现代化国家开局起步的关键时期，继续推进中国式现代化这一前无古人的开创性事业，必须坚定不移用新时代中国特色社会主义思想武装头脑、指导实践、推动工作，将党的创新理论作为研究问题、解决问题的总钥匙，方能不断赢得优势、赢得主动、赢得未来.
Next, there’s the point about the campaign being important for the Party to always maintain its “advanced nature and purity”, i.e., that it must “never degenerate, never changes colour, and never lose its essence” and that “all party members undergo continuous political examinations, clear away political dust, and correct behavioural deviations…”
This section ends with some key documents and structures that were put in place. These are:
Guidelines of the Central Committee of the Communist Party of China on In-depth Study and Implementation of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and Thematic Education Campaign throughout the Party
Work plan on Promoting the Conduct of Investigation and Research in the Whole Party
Work Plan on Central and State Organs to Conduct Education and Rectification of Cadres and Workforce in the Course of Learning and Implementing Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era.
The second section of the article talks about Xi’s visits to different regions in the year and how he prioritised the education campaign during those visits. We learn that the first batch of the campaign ended in September. The final section talks about the importance of learning leading to action. What’s highlighted in this is promoting high-quality development, dealing with disasters, meeting people’s - particularly immigrants' - housing needs, and self-revolution.
The other noteworthy report on the page is the State Council guideline aimed at preparing for consistent low temperatures, rainfalls and blizzards amid the Spring Festival holiday. Xinhua reports:
“These adverse weather conditions will linger across the central and eastern regions of the country in the forthcoming days, with certain areas expected to endure record-high snowfalls, causing disruptions to transport, power supply and livelihoods, according to the guideline issued by the General Office of the Communist Party of China Central Committee and the General Office of the State Council. The guideline called for intensified efforts to strengthen the monitoring and forecasting of meteorological changes, emphasizing the broader use of media platforms to issue timely warnings. In addition to ensuring the availability of emergency and relief supplies, nationwide coordination of transport networks is essential, and efforts should be made to enhance transport capacity, facilitating the smooth operations of the railway and civil aviation sectors, the guideline said. It added that efforts should also focus on comprehensive overhauls of grids, telecommunication networks and infrastructures related to oil, gas, water and heating supplies, while also guaranteeing adequate supplies of key farm products and daily necessities.”
Page 2: There’s another Zhong Caiwen commentary on the page today. This one deals with promoting Chinese-style modernisation as “the greatest political priority”. The commentary briefly touches upon the five aspects of Chinese-style modernisation.
a modernization with a vast population
a modernization that ensures common prosperity for all
a modernization that coordinates material and spiritual civilization
a modernization of harmonious coexistence between man and nature
a modernization that follows the path of peaceful development.
It adds: “Chinese-style modernization will create opportunities for everyone to realise their dreams. All industries and sectors should identify their positioning and clarify their direction in the process of Chinese-style modernization. They should focus on the central task of economic development and the top priority of high-quality development, and each should do their best to contribute their strengths so as to form a positive situation of thinking and working in unity in order to gradually turn the magnificent blueprint of Chinese-style modernization into a beautiful reality.” 中国式现代化将为所有人创造实现梦想的机遇。各行各业、各个领域都要在中国式现代化进程中找准定位、明确方向，聚焦经济建设这一中心工作和高质量发展这一首要任务，各尽所能、各展其长，形成心往一处想、劲往一处使的良好局面，共同把中国式现代化宏伟蓝图一步步变成美好现实.
Towards the end, the article emphasises the importance of the Party’s leadership to ensure Chinese-style modernisation.
“The Party Central Committee emphasises that the entire Party must adopt a clear-cut political stance, enhance political consciousness, improve political judgement, political understanding, and political execution. Ultimately, this requires the entire Party to firmly grasp the greatest political endeavour, which is the promotion of Chinese-style modernization. It underscores the need to translate political discourse into practical actions to promote the construction of a powerful modern socialist country.” 党中央强调全党要旗帜鲜明讲政治，增强政治意识，提高政治判断力、政治领悟力、政治执行力，归根结底就是要求全党牢牢把握推进中国式现代化这个最大的政治，把讲政治体现到推进社会主义现代化强国建设的实际行动上.---
Comment: This argument basically implies that if one were to leave it to market forces and professional officials, then the economy & society will not achieve the modernisation that would meet the needs of the people or be satisfactory. Therefore, political intervention is needed, which only the Party can provide. I know this sounds rather obvious if you’ve been reading this stuff regularly. But I thought I’d still say it in so many words.
Page 3: There’s a brief report on ILD chief Liu Jianchao meeting delegations from Lesotho and Malawi. So, let’s look at the ILD’s website for details.
First, Liu met with a delegation led by Eisenhower Mkaka, secretary general of the Malawi Congress Party. Liu said:
“China respects the right of the Malawian people to independently choose their development path, appreciates Malawi's firm adherence to the One-China principle, and strongly opposes any interference in China's internal affairs. Faced with the complex and ever-changing international situation, China is willing to work hand in hand with a vast number of African countries, including Malawi, to implement the three major global initiatives, jointly safeguard the interests of developing countries, and promote the construction of a community with a shared future for mankind…China is willing to further deepen exchanges on party and state governance with the Malawi Congress Party, strengthen exchanges and cooperation in youth, women, think tanks, media, and other institutions, continuously enrich the content of cooperation between the two parties, and achieve common development and progress. 中方尊重马人民自主选择发展道路的权利，赞赏马方坚定奉行一个中国原则，坚决反对干涉中国内政的行径。面对复杂多变的国际形势，中方愿同包括马拉维在内的广大非洲国家携手落实三大全球倡议，共同维护发展中国家利益，推动构建人类命运共同体...中方愿同大会党进一步深化治党治国经验交流，加强青年、妇女、智库、媒体等机构交流合作，不断丰富两党合作内涵，实现共同发展进步.
Mkaka is reported to have praised the “world-renowned achievements (of the CPC) in economic and social development, especially poverty alleviation, and thanked China for its long-term support for Malawi's development.” He added that Malawi “firmly adheres to the one-China principle and this position will never change.”
“The Malawi Congress Party values its friendly cooperative relationship with the CPC and hopes to strengthen exchanges at all levels between the two parties, enhance political mutual trust, learn from the experience of the CPC in cadre training and organisation construction, and promote practical cooperation in areas such as jointly building BRI.” 大会党珍视同中国共产党的友好合作关系，希望加强两党各层级交往，增强政治互信，在干部培训、组织建设等方面学习借鉴中国共产党的经验，推动两国共建“一带一路”等领域务实合作.
Second, the report on Liu’s meeting with the delegation led by Nthati Moorosi, secretary general of the Revolution for Prosperity Party of Lesotho, informs that this year marks the 30th anniversary of the resumption of diplomatic relations between China and Lesotho.
“China is willing to work with Lesotho to be a reliable partner based on mutual trust, a development partner for mutually beneficial cooperation, and a friendly partner who understands and supports the other. This visit marks the first delegation sent by your esteemed party to China, and it is believed that it will significantly enhance the level of interactions between the two parties, deepen the friendship between China and Lesotho, and elevate the friendly cooperation between the two sides to a new level. Liu Jianchao said that China and Lesotho support each other on issues involving each other's core interests and major concerns, and China appreciates Lesotho's adherence to the one-China principle. We will firmly support Lesotho in taking a development path that suits its national conditions and jointly safeguard the interests of developing countries. The CPC is willing to work with the Revolution for Prosperity Party of Lesotho to implement the important consensus reached by the two heads of state, deepen the exchange of experience in state governance, build a bridge for cooperation between the enterprises of the two countries, and promote exchanges among youth, women, media, and think tanks. China insists that all countries, big or small, are equal, and hopes that both sides will strengthen cooperation in international affairs, promote South-South cooperation, and help build a high-level China-Africa community with a shared future, guided by the implementation of GDI, GSI and GCI.” 刘建超表示，今年是中莱复交30周年，习近平主席与莱齐耶三世国王前不久互致贺电，为两国关系发展指明方向。中方愿同莱方做相互信赖的可靠伙伴、互利合作的发展伙伴、相知相亲的友好伙伴。此访是贵党首次派团访华，相信将有力提升两党交往水平，深化中莱两国友谊，推动双方友好合作迈上新水平。刘建超表示，中莱在涉及彼此核心利益和重大关切问题上相互支持，中方赞赏莱方坚持一个中国原则。将坚定支持莱方走符合国情的发展道路，共同维护发展中国家利益。中国共产党愿同莱索托繁荣革命党落实好两国元重要共识，深化治国理政经验交流，为两国企业合作搭建桥梁，推动青年、妇女、媒体、智库交流。中国坚持各国不论大小一律平等，希望双方加强国际事务合作，推动南南合作，以落实全球发展倡议、全球安全倡议、全球文明倡议为引领，助力构建高水平中非命运共同体.
Moorosi “thanked China for its support and assistance in Lesotho's economic and social development and improvement of people's livelihood.” She said that her country “faces challenges such as poverty, climate change, and food security.” She added that her party desires to “learn from the Communist Party of China’s experience in party and state governance, enhance its own capabilities, and build its own country. Lesotho is willing to strengthen cooperation with China in the fields of infrastructure, agriculture, information and communications, promote exchanges between women and youth, enhance understanding and friendship, and promote new development in state-to-state relations. Lesotho firmly adheres to the one-China principle and supports China's peaceful reunification.” 莫洛希表示，莱中两国是友好伙伴，感谢中方对莱经济社会发展和民生改善提供支持与帮助。前不久两国元首互致复交30周年贺电，莱方深受鼓舞。繁荣革命党成立不久，作为执政党面临贫困、气候变化、粮食安全等挑战。繁荣革命党重视同中国共产党深化交流，希望学习借鉴中国共产党治党治国经验，增强自身能力，建设好自己的国家。莱方愿同中方加强基础设施、农业、信息通讯等领域合作，促进妇女、青年交流，增进了解与友谊，促进国家关系取得新发展。莱方坚定奉行一个中国原则，支持中国和平统一大业.
The only other noteworthy report (English report) on the page is on MoFA’s comments about China’s efforts to ink visa-free travel agreements with countries. “Up to now, China has inked mutual visa exemption agreements covering different types of passports with 157 countries, reached agreements or arrangements on simplified visa procedures with 44 countries and enjoyed comprehensive mutual visa exemptions with 23 countries, including Thailand, Singapore, the Maldives and UAE, Wang Wenbin, a spokesperson of the Ministry of Foreign Affairs, said on Wednesday.
Other Stories:
I am highlighting below some other noteworthy stories that are not in the paper.
First, several Chinese cities have rolled out the first lists of real estate projects eligible for financing. Yicai’s report explains:
“China created the whitelist program at the start of the year when a policy document was issued by the housing ministry. The document asked provincial-level governments to prepare lists and recommend projects to local banks for financing, with the banks making their own decisions after assessing the risks independently.”
“The so-called ‘white lists’ were designed by the authorities to ensure that real estate projects get support in financing, obtain funds and development loans, step up coordination between real estate enterprises and financial institutions to issue loans, and effectively support reasonable financing needs, according to the Ministry of Housing and Urban-Rural Development. As of Tuesday, regulators in Southwest China's Chongqing Municipality had released a white list targeting 314 real estate projects, with the first batch of funds doled out by 22 financial institutions totaling 83 billion yuan ($11.6 billion). The financing approved list has been delivered to 28 major banks in the region including large banks, joint-stock banks, city commercial banks and three municipal corporate banks. The local government in South China's Guangxi Zhuang Autonomous Region worked with housing and construction departments to release a white list covering 107 development projects, with one already receiving a development loan of 330 million yuan from China Minsheng Bank.”
Caixin has an excellent report on this policy to support the real estate sector and its limitations. Here’s an excerpt:
“It’s not yet clear how we can implement the “three no-lower-thans”,’ an official at the head office of a major bank told Caixin, saying that the lender is unsure if regulators will issue more-detailed rules and set out how assessments of banks’ compliance will be carried out. Several bank insiders told Caixin that the requirements are seen as more of an indication of regulators’ intent rather than actionable directives. ‘Banks have taken steps to respond, although so far, it’s all largely on paper,’ an insider familiar with the matter at a state-owned bank told Caixin, noting that on the ground, lending practices and risk appetite have not changed. A real estate industry analyst at a brokerage firm said that the policy faces ‘significant’ implementation challenges. ‘We haven’t seen any evidence that anything has changed at the local branch level. The policy seems to be stuck at the headquarters level. Credit to the real estate sector hasn’t changed much … and at-risk developers are lucky if banks don’t call in their loans these days. Sources at several bank branches told Caixin that concerns over default risks and issues regarding accountability for lending decisions have been widely expressed among banks, given the continued depressed state of the real estate industry. ‘Everybody is confused,’ an official responsible for real estate business with a major bank said. Banks are reluctant to act until they get clarification on whether they will be liable if loans granted to private developers turn sour, the official said. In China, regulations require bank loan officers to exercise due diligence when granting loans, and they could face penalties if a borrower defaults. For real estate loans, developers can only apply if they can provide a minimum of 35% of the required investment in the project with their own capital.”
Second, Caixin reports that:
“more than half of the Chinese mainland’s 31 provincial-level governments have set lower GDP growth targets for 2024 than for last year, although many are aiming for higher rates of expansion than they achieved in 2023, Caixin’s analysis of local legislative meetings shows.”
The report adds:
“The weighted average GDP growth target of the 28 provincial-level governments that had announced 2024 goals by Jan. 28 is 5.5%, basically unchanged from 2023, according to the calculations of analysts at some securities firms. Historically, the national GDP growth target has generally been about 0.5 percentage points lower than the local average, which suggests the central government may set a GDP expansion goal for 2024 at 5%, Zheng Jianxin, an analyst at ITG Futures Co. Ltd., wrote in a report on Sunday. The target will be officially announced by Premier Li Qiang at the opening of the annual meeting of the National People’s Congress, China’s top legislature, in Beijing on March 5. — Comment: One of my predictions at the beginning of this year in our All Things Policy podcast’s special episode was that Li Qiang would refrain from setting a formal GDP target this year at the NPC session. This data does not seem to suggest that I’ve got that right.
Third, Reuters reports that “the United States on Wednesday added more than a dozen Chinese companies to a list created by the Defense Department to highlight firms it says are allegedly working with Beijing's military, as part of a broader effort to keep American technology from aiding China. New additions to the list, first reported by Reuters, were posted on the Department of Defense website and include memory chip maker YMTC, artificial intelligence company Megvii, lidar maker Hesai Technology and tech company NetPosa.”
“Other firms added on Wednesday include China Three Gorges Corp, China Construction Technology Co and Yitu Network Technology, as well as publicly traded companies Chengdu JOUAV Automation Tech Co, Chengdu M&S Electronics Technology Co, Guizhou Aviation Technical Development Co, and ShenZhen Consys Science & Technology Co. They join previously listed aviation company AVIC, BGI Genomics Co, China Mobile, energy company CNOOC and China Railway Construction Corp.
Do note: “While being placed on the list doesn't involve immediate bans, it can be a blow to designated companies' reputations and represents a stark warning to U.S. entities and companies about the risks of conducting business with them. It could also add pressure on the Treasury Department to sanction the companies.”
MoFA’s reaction to this was:
“China firmly opposes the US overstretching the concept of national security, setting up all kinds of discriminatory lists, going after Chinese companies and disrupting normal economic and trade cooperation between China and the US. This is a complete departure from the principles of market competition and international trade rules that the US has long claimed to champion. Such moves erode the confidence of foreign companies to invest and operate in the US, and undermine the interests of US companies and investors. It is bound to backfire. In fact, the US government is the mastermind of military-civil fusion policy. This policy in the US dates back to before WWI, when the US Pentagon set up offices in the Silicon Valley and other tech hubs to guide high-tech companies to accelerate the military application of technologies and their use in the battlefield. Many large multinational corporations in the US are actors of the military-civil fusion policy, since their business scope and product portfolio go far beyond the civilian sector into the military sector. We urge the US to immediately correct these discriminatory practices and provide a fair, just and non-discriminatory business environment for Chinese companies. China will continue to firmly safeguard the lawful and legitimate rights and interests of its companies.”
At the same time, Caixin reports that the US Commerce Department’s Bureau of Industry and Security has successfully completed more than 130 site visits to Chinese companies to verify their reliability as trade partners since October 2022.
BIS Assistant Secretary for Export Enforcement Matthew S. Axelrod said that under current policy, the “bureau can place a foreign party on an Unverified List after an end-use check is requested by the BIS but not completed within 60 days. If another 60 days pass and the BIS is still unable to conduct the check due to inaction by the local government, the foreign party could be added to the stricter Entity List that has blocked many Chinese tech giants’ access to U.S. products and services…Axelrod said that the BIS now had nearly 800 Chinese entities on its strictest trade blacklist, more than 300 of which have been added since President Joe Biden took office in January 2021. Axelrod said that this year, the Disruptive Technology Strike Force (DTSF), a multiagency taskforce established last February and co-led by the Departments of Justice and Commerce, is expected to launch more investigations aimed at preventing sensitive U.S. technology from falling into the hands of foreign adversaries. Three of the DTSF’s first five criminal cases were China-related, involving the theft of source code for smart car development and a procurement network established to provide Iran with materials used in weapons of mass destruction and ballistic missiles, according to a Justice Department statement in May. The Biden administration has implemented strict curbs on China’s access to U.S. investment and technology, including limiting U.S. investment in China’s high-tech sectors and export control measures on chip products.”
Finally, let’s take a look at some data from Amcham China’s latest survey of American businesses. It’s not as bad as one would have expected.
