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Sep 07, 2022Read in browser | Subscribe
U.S. and China Reach Audit Deal

Aug 26 | NYT
 

China to share audits of U.S.-listed Chinese firms

American and Chinese officials said that they had reached an agreement to allow accounting firms in China to share more information with American regulators about the finances of Chinese companies listed on U.S. stock exchanges. The agreement is a potentially big step toward resolving a conflict that had appeared likely to force some of China's largest companies to leave U.S. stock exchanges starting in 2024. More

More on Our Radar

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Happenings on the Hill

New Legislation


S.4757 | Sen. Rick Scott (R-FL)

 

TICKER Act

A bill to amend the Securities Exchange Act of 1934 to require national securities exchanges to identify issuers that are consolidated variable interest entities, especially those that Chinese businesses commonly use for U.S. listings. More


H.R.8766 | Rep. Steve Chabot (R-OH)
 

REFINE Act

A bill to require the Secretary of Energy to conduct studies relating to Strategic Petroleum Reserve levels, to amend the Energy Policy and Conservation Act with respect to such Reserve, banning exports of petroleum products to an entity owned by China. More
 

 

Congressional Calendar

The Senate is in session this week. The House is in a committee work week.


China-Related Committee Meetings


9/13 @ 10am | Congressional-Executive Commission on China
 

Control of Religion in China through Digital AuthoritarianismMore

Administration

 

Sep 06 | NYT
 

Biden administration releases plan for $50B investment in chips

The department is aiming to begin soliciting applications for the funding from companies no later than February, and it could begin disbursing money by next spring. More


Sep 06 | Reuters
 

Biden 'sure' he will see Xi if Chinese leader attends G20 meetings

Biden's team has long sought - but has not yet confirmed - an in-person meeting between the two leaders to lower tensions over Taiwan, trade and a host of other issues. More
 

Sep 02 | Reuters
 

Biden administration to maintain China tariffs while review continues

The U.S. Trade Representative's office said in a federal notice that it received requests from companies and other interested parties to maintain the "Section 301" tariffs imposed in 2018 and 2019. More

Top News

Taiwan

 

Sep 03 | CNN
 

China warns of 'counter-measures' as U.S. approves $1.1bn arms sales to Taiwan

The State Department said the sales are in line with a longstanding U.S. policy of providing defensive weapons to the island and described the “swift provision” of such arms as being “essential for Taiwan's security.” More


Aug 29 | Mercatus
 

Two immediate risks to the U.S. economy if China invades Taiwan

Compared with the effects of Russia's invasion of Ukraine, the stakes of a Taiwan Strait crisis are greater for the US economy, with a heightened risk to US goods trade and digital flows. More
 

Aug 26 | Axios
 

Sen. Blackburn calls Taiwan a "country" during meeting with President Tsai

Sen. Marsha Blackburn (R-TN) made her comment in person, but her spokesperson confirmed to Axios she deliberately used the word. Blackburn is the latest of several U.S. officials to visit Taiwan since House Speaker Nancy Pelosi's visit there earlier this month. More

China-Russia

 

Sep 02 | Moscow Times
 

China's Visa alternative cuts off Russian banks over sanctions

China's UnionPay payment system has stopped accepting cards issued by Russian banks under Western sanctions over fears of penalties. Demand for UnionPay cards in Russia surged following Visa and Mastercard's exit in the wake of the invasion of Ukraine. More


Sep 01 | Axios
 

U.S. pressure drives Russia, China and Iran closer together

Moscow's decision to proceed with the Vostok war games with China this week is intended as a signal that Russia can still "play on multiple chess boards" even with so many of its forces now in Ukraine. More

Geopolitics

 

Sep 03 | FT
 

Southeast Asia warily navigates rising US-China tensions over Taiwan

As tensions continue to build over Taiwan, southeast Asian governments must balance the competing pressures of Beijing and Washington. More
 

Sep 02 | Politico
 

Biden's U.S.-Pacific island summit targets China's growing influence

Biden's challenge at the upcoming summit will be to overcome a U.S. credibility gap underscored by Beijing's controversial security pact with Solomon Islands' and island countries' skepticism about the U.S. commitment to address the existential threat they face from climate change. More


Aug 31 | Nikkei Asia
 

China pushes ahead with Indonesia's largest hydro-plant project

The Kayan Cascade project will eventually comprise five dams with a combined power generation capacity of 9 gigawatts, which would make it Southeast Asia's largest hydroelectric station. The project is expected to cost $17 billion and scheduled to be fully up and running by 2035. More


Aug 26 | Politico
 

Biden creates an Arctic ambassador

The U.S. at the moment has an “Arctic coordinator” position; the State Department announcement says the plan is to “elevate” the coordinator role into an ambassadorship. The decision comes amid unusually tense relations between Washington and Moscow due to Russia's war on Ukraine. More

Climate & Energy

 

Aug 25 | CSIS
 

Why the new climate bill is also about competition with China

Expanding U.S. manufacturing to the point where it will replace Chinese production of technologies central to achieving decarbonization will take time, measured in decades and not months, and, as a result, Washington will have to grapple with China's importance in global supply chains for years to come. More

Business & Investment

 

Sep 04 | The Wire China
 

Insuring engagement

The insurance moguls Hank and Evan Greenberg both want better engagement with China. The way they argue for it, however, has some telling differences. More
 

Sep 01 | PIIE
 

U.S. security scrutiny of foreign investment rises, but so does foreign investment

After falling dramatically between 2017 and 2020, the number of CFIUS cases involving Chinese investors surged in 2021, as Chinese investors appear to have adjusted to the new rules. More


Aug 29 | WSJ
 

U.S. business confidence in China falls to record low

Only around half of 117 companies polled said they were optimistic or somewhat optimistic about their own outlook in China, down 18 percentage points from the year before and the lowest since the survey began more than 16 years ago. More

Trade & Commerce

 

Sep 01 | Oregon Business
 

Oregon-China partnerships 'should go on' despite tensions, Chinese Consul General says

In an interview, China's Consul General to San Francisco Zhang Jianmin discusses subnational trade opportunities despite tense bilateral ties. More


Aug 25 | Department of Agriculture
 

China's import potential for beef, corn, pork, and wheat

Dismantling China's non-tariff barriers on agricultural goods could open the country to buying a significantly higher volume of key commodities from US and other exporters, including up to five times more foreign pork, according to a new study published by the Agriculture Department. More

Economic Competition

 

Sep 02 | WSJ
 

China's economy won't overtake the U.S., some now predict

The outlook for China's economy has darkened this year, as Beijing-led policies have sapped growth. As economists pare back their forecasts for 2022, they have become more worried about China's longer term prospects, with unfavorable demographics and high debt levels potentially weighing on any rebound. More
 

Aug 25 | Bloomberg
 

China starts stealth fightback against a strong dollar

The People's Bank of China set its yuan reference rate at a stronger-than-expected level for the managed currency, as a widening monetary policy gap with the US continued to weigh. It was seen a signal the central bank wants to slow the pace of yuan depreciation. More

Tech Competition

 

Aug 31 | NYT
 

U.S. restricts sales of sophisticated chips to China and Russia

The new limits affect high-end models of chips known as graphics processing units, which are sold by the Silicon Valley companies Nvidia and AMD. More

Cybersecurity & Espionage

 

Sep 05 | Bloomberg
 

China says U.S. hacked aeronautics, space research university

China accused a U.S. spy agency of hacking a government-funded university with aeronautics and space research programs, in Beijing's latest effort to hit back at Washington's complaints of cybersnooping. More
 

Sep 01 | Heritage Foundation
 

Do more to prevent Chinese espionage

Universities should focus on improving education quality and outcomes for all students, while simultaneously working with law enforcement and intelligence agencies to protect the fruit of their research, writes Heritage Research Fellow Dustin Carmack. More

Space Competition

 

Sep 01 | Payload
 

Pentagon releases State of Space Industrial Base Report

Penned by four prominent Pentagon space officials, the Defense Innovation Unit (DIU) report makes the case for more thoughtful state industrial planning and outlines the role industry should play in that future. Thinking further out and working hand-in-glove with commercial space, the authors believe, will enable the US to move faster. The verdict: The US has a lot of work to do if it wants to compete with China over the long run. More
 

Sep 03 | Space.com
 

China and Russia plan to put boots on the moon, too

The United States isn't going back to the moon alone. NASA leads Artemis, but the program has brought in a number of international partners, including the space agencies of Japan, Canada and Europe. Two other space powers, China and Russia, aren't part of the consortium, but they have crewed moon plans of their own. More

Human Rights

 

Sep 06 | NYT
 

Battling violence and censors, women in China become 'invisible and absent'

China's Communist Party has long promoted gender equality as one of its core tenets, yet as cases of gender violence continue to make national headlines, Beijing has done little to address calls for accountability. Fearing social unrest, the party has instead used social media censors to stifle criticism. More
 

Sep 05 | Nikkei Asia
 

China steps up Tibet DNA collection in 'rights violation'

China is committing a "serious rights violation" by expanding DNA collection efforts across Tibet, including taking blood samples from children as young as 5 years old, a Human Rights Watch report said. More
 

Aug 31 | NYT
 

UN says China may have committed 'crimes against humanity' in Xinjiang

The 48-page report did not use the word “genocide,” a designation applied by the United States and by an unofficial tribunal in Britain last year. But it validated rights groups' and activists' claims that China has detained Uyghurs, Kazakhs and others, often for having overseas ties or for expressing religious faith. More


Aug 24 | Axios
 

U.S. warns of China's efforts to "manipulate" narrative on Xinjiang

China is using “wolf warrior” diplomats, foreign and private media, and social media influencers to "flood" online spaces and manipulate the global narrative on Xinjiang, the State Department warns in a new report. More

Covid-19

 

Sep 05 | NYT
 

As China imposes more lockdowns, 'everyone is scared'

The number of infections remains relatively small, with about 1,500 new cases over the weekend. Yet some 60 million people across China are facing partial or full lockdowns, according to Chinese media, from Chengdu to the southern economic powerhouse of Shenzhen to the oil-producing city of Daqing near Russia. More


Aug 26 | AP
 

U.S. suspends Chinese airline flights in COVID-19 dispute

U.S. regulators suspended seven flights by Air China Ltd. from New York City and a total of 19 flights from Los Angeles by Air China, China Eastern Airlines Ltd., China Southern Airlines Ltd. and Xiamen Airlines Ltd., according to the Department of Transportation. More

Inside China

 

Sep 05 | Reuters
 

China policymakers see renewed urgency for economic support

Senior officials from China's central bank and leading ministries warned at a news conference of risks for the economy, battered in recent months by COVID-19 related curbs, while promising fresh measures to follow a stimulus package released in May. More


Aug 31 | Reuters
 

China sets October start for Congress

China's ruling Communist Party will hold its five-yearly congress beginning on Oct. 16, with Xi Jinping poised to secure an historic third leadership term and cement his place as the country's most powerful leader since Mao Zedong. More
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