Aligning interests key to trade talks

China Daily : Feb 15, 2019

Observers expect Sino-US meetings to bring benefits bilaterally, globally

China and the United States are scheduled to conclude the latest round of high-level economic and trade consultations on Friday, with the occasion seen as a further attempt to deescalate trade tensions ahead of a March 1 tariff truce deadline.

Experts urged the two countries to work to better understand each other, align their interests and coordinate policies so as to benefit both sides and the rest of the world.

On Thursday, Vice-Premier Liu He, US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin chaired the opening ceremony of the talks. That followed two days of vice-ministerial level trade talks.

Ministry of Commerce spokesman Gao Feng revealed few details about the ongoing consultations at the Thursday news briefing. But he did say that foreign direct investment from the US into the Chinese mainland recorded a 124.6 percent year-on-year growth in January.

Gao said the substantial rise of US direct investment flowing into China can be attributed to the Chinese government’s years long efforts to improve the business environment.

He said the country will make continued efforts to create a business environment that is conducive to the operation of various types of enterprises, and attract more foreign investment.

Embroiled in trade frictions for months, China and the US had levied hefty import tariffs on each other. The two sides are now in the midst of a 90-day tariff truce, which began on Dec 1, when President Xi Jinping and his US counterpart, Donald Trump, met on the sidelines of the G20 summit in Buenos Aires.

Intense negotiations have been conducted, and touched on a wide range of issues such as trade and structural issues.

Zhang Yansheng, a senior researcher at the China Center for International Economic Exchanges, was optimistic that China and the US can meet each other halfway.

Zhang said the two sides can reach a consensus on some trade issues before March, noting that some "deeper and sensitive problems” can be shelved for future talks.

Chen Qi, who runs the Carnegie-Tsinghua Center for Global Policy’s US-China Track II dialogue, urged the two countries to understand each other’s way of doing things, be patient concerning regulatory changes and make genuine adjustments.

"The two countries must decide where their interests align, coordinate policies and take part in rules-based negotiations,” Chen said. "They should pursue domestic structural reforms to make sure that development benefits everyone and that their economic relationship is well-balanced.”

Chinese Ambassador to the US Cui Tiankai said China and the US need to promote mutual understanding so as to enhance mutual trust and avoid strategic miscalculations.

"We need to stay open to each other and get more connected. China will open its door wider to the US and looks forward to more cooperation at various levels,” the Chinese envoy said at a reception for the 40th anniversary of China-US diplomatic relations.

In January, China’s exports to the US climbed 1.9 percent year-on-year to 252.11 billion yuan ($37.21 billion), while imports from the US declined 38.6 percent to 63.71 billion yuan, according to the General Administration of Customs.

Stay Confident and Work Together for A Shared Future

Speech by H.E. Wang Qishan

Vice-President of the People's Republic of China

At the World Economic Forum Annual Meeting

Davos, 23 January 2019

Dear Dr Klaus Schwab,

Ladies and gentlemen,

Friends,

It gives me great pleasure to attend the 2019 World Economic Forum Annual Meeting.

This year is the 40th anniversary of the relations between China and the WEF. Over the past four decades, Davos, this lovely small town with its unique appeal, has become an important platform for China to learn about the world, exchange views, state its position and seek common understanding.

This year 2019 marks the 70th anniversary of the founding of the People's Republic of China. The past seven decades have witnessed remarkable achievements in China's development. Our nation has made historical transformation in terms of social productivity and composite national strength and delivered initial prosperity to its people who were once struggling to meet their basic living needs. China's status and influence have risen as never before. Indeed, China has increasingly become an important force for upholding world peace and promoting common development.

Many foreign friends have often put this question to me: What has made it possible for China to achieve so much in development and progress? And how will a stronger China engage the rest of the world? Well, these questions can be answered from historical, cultural and philosophical perspectives. Given the close linkage between the past, the present and the future, one needs to learn about China's past in order to understand its present and forecast its future.

China has an uninterrupted civilization of more than 5,000 years, and the Chinese nation has both gone through sufferings and made splendid achievements. When the West embarked upon industrialization and embraced the oceans, China fell behind because its emperors chose to shut China's door to the world, and this made Chinaa victim of foreign aggression. Since modern times began, China was beset by crises at home and abroad, and ravaged by wars and chaos, which inflicted untold sufferings to its people. However, in a century of darkness, the Chinese people, rising one upon another in an unyielding spirit, never stopped searching for a way towards national renewal and prosperity.

Seventy years ago, the Communist Party of China, rallying the Chinese people around itself, engaged in an indomitable struggle and succeeded in establishing a New China in the ruins of an old semi-colonial and semi-feudal society, thus achieving national independence and liberation of the Chinese people. Since then, the Chinese nation has gained rebirth and entered a new era of development.

We will stay true to the founding mission of the Communist Party of China, uphold its leadership and China's fundamental socialist political and economic systems and be guided by a people-centered development philosophy. From the founding and building of the People's Republic to the launching of the reform and opening-up program and the shifting of focus to economic development, we have moved away from revolution to reform, from a planned economy to a market economy and from isolation to all-round opening-up. In this process, we have broken free from the fetters of dogma and Utopian thinking, freed our minds and taken a realistic and pragmatic approach, and applied Marxism's basic tenets in the context of China's realities. Four to five generations of us Chinese have, going through twists and turns, probed a way forward. Through trials and errors, with many lessons learned and heavy prices paid along the way, we have made great accomplishments and embarked upon a path of building socialism with distinctive Chinese features. Thanks to 70 years of hard work and dedication, we have turned a weak and impoverished agrarian country with backward productivity into the world's second largest economy, the largest industrial manufacturer, and the largest trader of goods, creating bright prospects for the great renewal of the Chinese nation.

This is what history has told us:

— The Chinese nation, long among the leading civilizations in the world history, has made unique and significant contribution to human progress. The profound historical and cultural heritage of the Chinese nation is in the genes of its people. What we long for is to see China once again gain its rightful place among the nations of the world and achieve great rejuvenation.

— The Chinese nation as we know today originates from a number of nationalities that embraced and integrated into one another throughout history. We are a peace-loving, open and inclusive nation that keeps abreast of the times. While keeping the fine Chinese culture alive and strong, we also respect other civilizations and values, and draw inspirations from other cultures. As we continue to follow the socialist path with distinctive Chinese features, we will respect other peoples' independent choices of paths and systems.

— The Chinese culture values the teachings that one should help others to succeed while seeking one's own success, create a world for all, treat others with respect and pursue win-win cooperation. We reject the practices of the strong bullying the weak and self-claimed supremacy. Today, China's interests and future are closely linked to those of the world. While developing itself, China also wishes to work with all countries for common development and a community with a shared future for mankind.

— The advances in China in the past 70 years are not a godsend, nor a gift from others. Rather, they are made by the Chinese people through vision, hard work, courage, reform and innovation. By striving to meet people's aspirations for a better life, we can surely win their support. United as one, we Chinese can surely overcome various risks and challenges.

— A land of over 9.6 million square kilometers, a people of nearly 1.4 billion, and a history of over 5,000 years: These are the underlying features of China, and they are the source from which China derives confidence in its path, theory, system and culture. We have embarked on a right path that fits China's conditions and is in keeping with the trend of the times. And we will further improve and enrich socialism with distinctive Chinese features through reform and opening-up. This is a path we believe in, and we will steadily forge ahead along this path.

Ladies and gentlemen,

In recent years, problems in the global economy such as lack of new growth drivers, unbalanced development and uneven income distribution have intensified. New challenges brought by new technologies, new industries and new forms of business have mounted. Many countries are increasingly looking inward when making policies; barriers to international trade and investment are increasing; and unilateralism, protectionism and populism are spreading in the world. All these are posing serious challenges to the international order. Will economic globalization move forward or reverse course?

The economic globalization, which gained rapid ground in the last century, was started by Western developed countries, or the Mediterranean civilization. In the late 20th and early 21st centuries, technological advances have significantly reduced the geographical distance and other barriers to exchanges among countries and accelerated the economic globalization process. The BRICS countries, Vietnam, Indonesia and other emerging economies have risen. As a result, economic globalization has reached a new stage as we now know. Western multinational corporations and financial institutions are the main drivers of economic globalization. As they seek maximum profit in their operations, they allocate resources to countries and regions with low-cost production factors and sound business environment when building global industrial chains. In this process, China has moved up from the low end to the medium and high end of the global industrial chain. The nearly 1.4 billion Chinese who are enjoying greater prosperity have unleashed huge demand backed by purchasing power. And this has unlocked enormous market potential that no one can afford to ignore.

Economic globalization represents an inevitable trend of history given the enormous potential that derives from harnessing the comparative advantages of countries and enhancing economic connectivity. In response to the problems and challenges in the world today, the international community need to make serious and deep-going analysis, and more importantly, take collective actions in line with the trend proactively.

Under market economy conditions, too much emphasis on efficiency often comes at the cost of equity. While there are both internal and external factors that cause a problem, the internal one plays the key role. Therefore we must take a targeted approach to address the problems that have emerged in the process of economic globalization. Development imbalances need to be resolved through further development. Countries need to press ahead with structural reform, strike a right balance between equity and efficiency, adopt effective policy measures to prevent the worsening of income inequality and fend off the impact on some regions and industries caused by new technologies and market competition, so that all people stand to gain from continued development. What we need to do is make the pie bigger while looking for ways to share it in a more equitable way. The last thing we should do is to stop making the pie and just engage in a futile debate on how to divide it. Shifting blame for one's own problems onto others will not resolve the problems.

To address its problem, China's choice is to focus on managing our own affairs well. Socialism with distinctive Chinese features has entered a new era, yet China also faces the problem of imbalances in development. The principal issue confronting the Chinese society is that unbalanced and inadequate development cannot meet our people's ever-growing needs for a better life. We will pursue development as the top priority, promote coordinated economic, political, cultural, social and ecological advancement, and move steadily towards making China a moderately prosperous society in all respects.

We in China have continued to carry out reform across the board, resolving many tough issues and navigating dangerous rapids. Major headway has been made in supply-side structural reform, digital economy and other emerging industries are flourishing, and an innovation-driven China is taking shape. Decisive progress has been made in key battles of poverty alleviation, with the number of rural people living in poverty cut by over 80 million since 2013. Thanks to stronger measures taken, China's environment has been further improved. The Communist Party of China, the governing party in China, has strengthened itself by strictly enforcing party discipline, and a crushing victory has been secured in fighting corruption.

We in China have continued to promote opening-up across the board, advance international cooperation on the Belt and Road Initiative, upgrade an open world economy, and work for a new type of international relations featuring mutual respect, equity, justice and win-win cooperation under the principle of consultation and cooperation for shared benefit. China remains committed to building world peace, promoting global growth and upholding the international order.

Ladies and gentlemen,

New technologies bring opportunities, but they also create risks and challenges. Every major breakthrough in scientific discovery and technological innovation has greatly boosted human development and progress; but it has also led to the restructuring of value chains, industrial chains and supply chains, and disrupted the balance in the economy and society and between countries and regions. Indeed, such breakthrough challenges the existing rules and order. As a result, adjustments need to be made to both the economic and social governance of countries and global economic governance.

We are meeting here under the theme "Globalization 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution", which is highly relevant. The fourth industrial revolution, with its speed, scale and complexity and the way it shapes human society, represents a significant evolution of the globalization process. We must work together to shape the global architecture in the age of the fourth industrial revolution with the vision to create a better future for all mankind.

We need to uphold the security of all mankind. We need to explore the adoption of relevant rules and standards in a phased way, while leaving broad space for the dissemination and application of scientific discovery and technological innovation. We need to accommodate in a balanced manner the interests of all countries, especially those of emerging markets and developing countries. One should not ask the whole world to address only the security concern and comply only with the standards of developed countries or individual countries.

It is imperative to respect national sovereignty and refrain from seeking technological hegemony, interfering in other countries' domestic affairs, and conducting, shielding or protecting technology-enabled activities that undermine other countries' national security. We need to respect the independent choices of model of technology management and of public policies made by countries, and their right to participating in the global technological governance system as equals.

We need to uphold multilateralism, engage in extensive dialogue and cooperation based on mutual respect and mutual trust, and jointly build a system of rules for technology and new international cooperation framework featuring peace, security, democracy, transparency, inclusiveness and mutual benefit, so that all people can gain from technological innovation.

We need to uphold social equity and justice, and ensure technological innovations are made in compliance with the rule of law and internationally recognized norms and that they are guided by us humans, meet our needs and be compatible with our values. We need to prevent technological advances from being turned into tools of committing terrorism and crimes or violating individual rights.

We need to improve policy environment and promote social prosperity and stability. We should both respect and protect the rights and interests of innovators. At the same time, we should provide necessary education and training to enable the public to adapt to the fast advancement of technology and ensure that such advancement helps raise living standards, create jobs, protect the environment, and promote the long-term interests of mankind.

Ladies and gentlemen,

In this changing world, making advance is like climbing a mountain. It is commitment, conviction and confidence that drive us forward. In this era of unfolding economic globalization, all of us mankind share a common stake. As a Swiss proverb goes, "Torches light up each other." Let us illuminate the path ahead, progress together, ascend to the summit and jointly create a great future for all mankind.

China able to keep economic growth within reasonable range: Premier Li

Source: Xinhua| 2019-01-17

Chinese Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, presides over a symposium for soliciting views and suggestions on a draft version of the government work report in Beijing, capital of China, Jan. 17, 2019. The symposium was attended by leaders of non-communist parties, the All-China Federation of Industry and Commerce and representatives of personages without party affiliation. Han Zheng, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and vice premier, attended the symposium. (Xinhua/Pang Xinglei)

BEIJING, Jan. 17 (Xinhua) -- Premier Li Keqiang said Thursday that China will be able to keep economic growth within a reasonable range, despite greater difficulties this year, by innovating and improving macro-control.

Li, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks when presiding over a symposium for soliciting views and suggestions on a draft version of the government work report.

The symposium was attended by leaders of non-communist parties, the All-China Federation of Industry and Commerce and representatives of personages without party affiliation.

Han Zheng, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and vice premier, attended the symposium.

Chinahas already learned how to keep economic growth within a reasonable range without adopting strong stimulus policies that would have an economy-wide impact, Li said.

With innovations and improvement in macro-control, the country will be able to attain a relatively high level of employment, sustained growth in income and improvement in the natural environment, he said.

China will focus more on stimulating vitality of market entities by deepening reform and opening-up, improving the business environment and helping enterprises, especially small ones, reduce their burdens substantially, Li said.

The country will also accelerate the buildup of new drivers of growth and upgrade traditional growth engines by offering greater support to business startups and innovation, he said.

China's central bank cuts banks' reserve ratio to bolster growth

By Xin Zhiming | chinadaily.com.cn | 2019-01-04

The required reserve ratio for banks will drop by 0.5 percentage point on January 15 and a further 0.5 percentage point on January 25, the People's Bank of China said in a statement on its website.

The central bank also said that the Medium-term Lending Facility loans that would mature in the first quarter will not be rolled over but liquidity will be able to offset the funding shortage that usually occurs ahead of the Chinese Lunar New Year.

The cut will unleash a total of 800 billion yuan ($116.6 billion) liquidity into the market, according to the PBOC.

China cut the reserve requirement ratio for selected banks four times in 2018 and has recently introduced a targeted Medium-Term Lending Facility, a tool used to adjust liquidity, to supply lower-cost funding to banks so that they can lend the money out to support the real economy, such as small enterprises.

Xi calls on historians to improve research

By XU WEI | ChinaDaily |  2019-01-04 02:06

President Xi Jinping has called on the country's historians to improve their research and innovation to better summarize historical experience, reveal patterns and grasp the trend of history.

The remarks of Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, came as he congratulated the opening of the academyof Chinese history studies of the Chinese Academy of Social Sciences in a letter on Thursday.

Xi called on historians to integrate their strengths in Chinese and world history as well as archaeology, push forward the integrated development of related historical subjects and accelerate the development of discipline, academic and discourse systems with Chinese characteristics.

History is a mirror, he said, and drawing its lessons not only benefits contemporary endeavors but also enriches the mind. It is a fine tradition of China, with a civilization of over 5,000 years, to emphasize historical research and its use as a reference, he added.

It is even more necessary to conduct systematic research into Chinese history and culture and learn more deeply about historical development patterns to adhere to and develop socialism with Chinese characteristics in the new era, he said.

He added that historical research is the foundation of all social sciences, and Chinese historians, under the leadership of the CPC, have made contributions to the course of the Party and the country.

Xi expressed hope that the new academy would launch a series of elite works with thoughtful insights, cultivate historians with expertise in Chinese and Western studies and contribute to furthering Chinese historical studies as well as international exchanges in the area.

Huang Kunming, a member of the Political Bureau of the CPC Central Committee and also head of the Publicity Department of the CPC Central Committee, attended the ceremony for the academy in Beijingon Thursday.

Shanghai Import Expo symbol of China's concept of win-win cooperation: U.S.expert

October. 24  2018 (Xinhua)

The China International Import Expo (CIIE), to be held in Shanghai on Nov 5-10, is a symbol of win-win cooperation which Chinahas long championed in handling foreign relations, a leading China expert said.

"It's one of the few things in the world that has really no downside. It is all positive for everyone," Robert Kuhn, chairman of the Kuhn Foundation, said in an interview with Xinhua on Tuesday.

The CIIE, the first-ever Chinese fair focusing exclusively on imported goods and services, is expected to draw more than 2,800 companies from over 130 countries and regions.

There are multiple reasons that so many companies are attending the event, Kuhn said, "the obvious reason is to generate revenues and profits. They do that for their shareholders and their careers."

More importantly, he said, it is because of "the dynamism of the Chinese market."

" China is in most areas, either the world's largest market, or will become the world's largest market and no company in this world can afford not to be in the Chinese market," said Kuhn.

China is expected to import 10 trillion U.S. dollars worth of goods and services in the next five years, according to China's Ministry of Commerce.

Even companies that don't do too well in the Chinese market due to strong competition also have to be in China in order to become a "worldwide player," he said.

"There are very few industries in the future where companies can, and will be able to compete on a global basis or even in their home country, if they are not in the Chinese market, being in touch with the latest trends, or the latest problems or challenges," Kuhn added.

"So to large numbers of companies, particularly in technologies and new areas, to be in the Chinese market is not an option. It's essential for them," he said.

For U.S. companies doing business with China, the trade tensions between the United States and China are really "a distraction," Kuhn said.

"They're unhappy with it. It's beyond their areas of expertise. They really don't want to deal with the problems of the bigger macroeconomic, political, or economic or geopolitical matter. They only want to deal with the nuts and bolts of their own business. And to be successful, they need to be in the Chinese market," he explained.

On the other hand, Kuhn said, " Chinais doing it (CIIE) for its own benefit and the benefit of its own industries and its own people."

"Obviously, the primary interest of (the Chinese) government is to elevate the standard of living of the people," he said.

China has gone through a phase of cheap labor during which migrant workers were willing to work for very low wages that were still much better than their earnings on the farms, he said, "but that phase is passed ... people want more goods and more quality goods."

By boosting imports as symbolized by the expo, the country also encourages domestic companies to be "more innovative and more productive on their own," he said.

"Because if they have a closed market, they can sort of be more lazy in their corporate endeavors... But now you have foreign entries into the market, it forces the Chinese companies to do better," he added.

China's central bank pumps funds into market via MLF

Xinhua | Updated: 2018-09-07

China's central bank Friday injected 176.5 billion yuan ($25.88 billion) of funds into the market via the medium-term lending facility (MLF) to maintain liquidity.

The funds will mature in one year with an interest rate of 3.3 percent, unchanged from previous operations, the People's Bank of China (PBOC) said on its website.

The operation effectively rolled over an equal amount of such loans, which matured Friday.

The MLF tool was introduced in 2014 to help commercial and policy banks maintain liquidity by allowing them to borrow from the central bank using securities as collateral.

On Friday, the PBOC suspended reverse repo operations for the 13th consecutive trading day. 

On a net basis, the central bank did not inject nor drain liquidity from the market this week.

In Friday's interbank market, the overnight Shanghai Interbank Offered Rate (Shibor), which measures the cost at which banks lend to one another, climbed 9.7 basis points to 2.59 percent, the highest level in more than two weeks. The Shibor rate for one-month loans also rose slightly to 2.85 percent.

The country vowed to maintain control over the floodgates of monetary supply and keep liquidity at a reasonable and ample level, according to a statement issued after a meeting of the Political Bureau of the Communist Party of China Central Committee in July.

China's fixed-asset investment grows fast since 1978

Xinhua | Updated: 2018-09-07

China's fixed-asset investment has maintained rapid growth since the country began to implement the reform and opening up policy in 1978 and has been an important force behind China's economic growth, official data showed Thursday.

Between 1981 and 2017, fixed-asset investment totaled 490 trillion yuan ($71.83 trillion), with an average annual growth rate of 20.2 percent, the National Bureau of Statistics (NBS) said on its website.

The contribution of investment to China's economic development also stayed at a high level, with the share of investment in GDP up from 38.9 percent in 1978 to 44.4 percent in 2017.

The share peaked in 2011 at 48 percent and fell after that as China's economy steered away from over-reliance on investment and exports to the coordinated driving forces of consumption, investment, and export.

Last year, the share of investment in GDP was 9.2 percentage points lower than that of final consumption and the contribution of investment to economic growth stood at 32.1 percent, 26.7 percentage points lower than final consumption.

Chinahas gradually created sound interaction between effective investment and consumption upgrading, the NBS said.

Calculated with constant prices, China's GDP rose 33.5 times in the 1978-2017 period, representing an average annual growth of 9.5 percent, much higher than a world average of about 2.9 percent during the same period.

Growth forecast to remain solid this year

China Daily | Updated: 2018-08-03

The Chinese economy is forecast to see solid growth in the second half of the year, bolstered by buoyant consumption, the nation's top economic regulator said. The prediction is expected to soothe concerns about the escalating trade dispute with the United States.

"In the first six months, consumption retained growth momentum and has played a key role in supporting economic growth as consumption has become a key element of the nation's rebalancing act," Liu Yunan, a senior official with the National Development and Reform Commission, said on Thursday.

Consumption contributed 78.5 percent of total economic growth in the first half, up by 14.2 percentage points compared with the same period last year, according to the National Bureau of Statistics.

Economic growth remained solid at 6.8 percent in the first half, with residential income growth holding steady, supporting relatively robust consumption, according to the NBS.

The report comes at a time when the tepid growth of some indicators has raised concerns over China's rebalancing moves toward domestic consumption as trade troubles with the United Stateshave escalated and uncertainties in the global economy have increased.

The growth of retail sales slowed in recent months, a key indicator reflecting how spending by residents is holding up.

Liu said retail sales growth has been dragged down by some seasonal factors and delays in automobile purchases as residents looking forward to tariff cuts held onto their cash. The government pledged to cut import tariffs on automobiles and auto parts this year.

Despite some external challenges, spending is expected to see a rebound in coming months with downward dips remaining under control, according to Liu.

To promote continued expansion of domestic consumption, the government will roll out more supportive measures to increase consumption demand, such as continuing to promote supply-side reforms, providing better products and fostering a more vibrant private sector, according to Ou Xiaoli, another senior official with the commission.

While concerns remain that rising trade conflicts may result in higher prices on some goods for consumers, experts expected the overall effect to be limited.

Niu Li, an economist at the commission's State Information Center, said the government will provide some level of support to cushion risks of possible price increases on agricultural products.

He said he expected consumer inflation to remain at roughly the same level as in the first half.

Announcement on Imposing Tariffs on Some Goods Originating in the US

June 17, 2018 - MOFCOM

The US government announced to impose additional tariffs of 25% on US$50 billion worth of the Chinese imports according to the unilateral recognized results of section 301 investigation on June 15, 2018. Among these, the additional tariff on US$34 billion worth of Chinese imports will come into effect from July 6, and measures against the rest of US$16 billion worth of Chinese imports will further solicit public opinions. The UShas ignored China’s opposition and serious representation, resolutely behaved against the WTO rules. It has severely violated China’s legitimate rights in the WTO and threatened China’s economic interest and safety.

In the face of the emergency that the US has violated the international rules against China, in order to defend its legitimate rights, China decided to impose a tariff rate of 25% on the US imports like farm products, auto and aquatic products according to the Foreign Trade Law of the People’s Republic of China and the basic principles of International Law, involving US$34 billion worth of US imports in 2017 (appendix 1). Those measures will come into force from July 6 2018.

Meanwhile, Chinaplanned to impose additional tariff of 25% on chemical products, medical equipment and energy imported from the US, involving US$ 16 billion worth of the US imports. The final measures and effective date will be released separately.

MOFCOM Announcement No.52 of 2018 on Review of the Anti-dumping Measures against Imports of Certain Alloy-Steel Seamless Tubes and Pipes for High Temperature and Pressure Service Originating in the United States and the EU

June 17, 2018 -  MOFCOM

On May 9, 2014, the Ministry of Commerce of the People's Republic of China (the "MOFCOM") issued Announcement No.34 of 2014, deciding to levy anti-dumping duties on imports of certain alloy-steel seamless tubes and pipes for high temperature and pressure service originating in the United States and the EU from May 10, 2014.

On May 10, 2018, Inner Mongolia North Heavy Industries Group Corp. Ltd. submitted an application to the MOFCOM on behalf of China's industry of certain alloy-steel seamless tubes and pipes for high temperature and pressure service, arguing that the United States and the EU exported certain alloy-steel seamless tubes and pipes for high temperature and pressure service to China at an increased dumping degree exceeding the applicable anti-dumping duties now in effect, and requesting for review of the anti-dumping measures in terms of dumping and dumping margin.

On May 14, 2018, the MOFCOM informed the embassies of the United States and delegation of the EU in China of the application for review in terms of dumping and dumping margin, and forwarded to them the public text of the application and the unclassified summary of confidential materials. On June 11, 2018, the European Commission submitted its comments.

In accordance with the Anti-dumping Regulations of the People's Republic of Chinaand the Rules on Review of Dumping and Dumping Margin, the MOFCOM examined the qualifications of the applicant, the export prices and normal value of the underlying products, changes in the dumping margin and other relevant conditions.

Upon examination, the MOFCOM believed that the application meets conditions for review set out in the Anti-dumping Regulations of the People's Republic of Chinaand the Rules on Review of Dumping and Dumping Margin. The MOFCOM decided to, as of the date of release hereof, review the anti-dumping measures applicable to imports of certain alloy-steel seamless tubes and pipes for high temperature and pressure service originating in the United States and the EU in terms of dumping and dumping margin.

Relevant review matters are hereby announced as below:

I. Product scope

Imports of certain alloy-steel seamless tubes and pipes for high temperature and pressure service originating in the United Statesand the EU

Specific descriptions are consistent with product descriptions set out in the MOFCOM Announcement No.34 of 2014.Details of the Products under Investigation are as follows:

Name of the Products under Investigation:相关高温承压用合金钢无缝钢管, also known as P92无缝钢管, 10Cr9MoW2VNbBN无缝钢管, X10CrWMoVNb9-2无缝钢管, etc.; name in English: Certain Alloy-Steel Seamless Tubes and Pipes for High Temperature and Pressure Service.

Description: Alloy steel seamless pipes with an outer diameter of 127mm or more (including 127mm), the content of carbon (C) in chemical composition (wt%) of not less than 0.07 and not more than 0.13, the content of chromium (Cr) of not less than 8.5 and not more than 9.5, and that of molybdenum (Mo) of not less than 0.3 and not more than 0.6 and that of tungsten (W) of not less than 1.5 and not more than 2.0, a tensile strength of 620 MPa or more and a yield strength of 440 MPa or more, whether or not they have undergone further processing.

Main purposes: certain alloy-steel seamless tubes and pipes for high temperature and pressure service have strong high-temperature strength and creep resistance, and are mainly used in supercritical and ultra-supercritical power station boilers and power station steam water pipelines.

The products are listed under tariff number of 73045110, 73045190, 73045910 and 73045990 in the Customs Import and Export Tariff of the People's Republic of China. Other steel pipe products under the above tariff numbers that do not meet the details of the Products under Investigation fall beyond of this investigation.

II. Review investigation period and review scope

(I) Review investigation period

The dumping investigation period of this review is from April 1, 2017 to March 31, 2018.

(II) Review scope

Export price, normal value and dumping margin of imports of certain alloy-steel seamless tubes and pipes for high temperature and pressure service originating in the United States and the EU.

III. Review procedures

(I) Comments of interested parties

Any interested party may give opinions on this review in writing and provide corresponding evidence within 20 days after the date of release hereof.

(II) Registration for participating in the investigation

Any interested party may register with the Trade Remedy and Investigation Bureau of the Ministry of Commerce for participating in this round of anti-dumping review within 20 days after the date of release hereof. Interested parties participating in the investigation are required to provide basic information, quantity and amount of the products under investigation exported to or importing from China, quantity and amount of similar products produced and sold and relationship and other illustrative materials based on the Reference Format of the Registration to Participate in the Investigation, which can be downloaded from the Trade Remedy and Investigation Bureau sub-website of the MOFCOM website (http://trb.mofcom.gov.cn).

(III) Distribution of questionnaires

In order to obtain the information necessary for the investigation as deemed by it, the MOFCOM will, as needed, distribute questionnaires to relevant interested parties. The questionnaires for this case may be downloaded from the website of Trade Remedy and Investigation Bureau of the MOFCOM website. Answer sheets of the questionnaires shall be submitted as required by the questionnaires within 37 days after they are distributed.

(IV) Hearings

An interested party may make a written request for holding a hearing in accordance with the Rules on the Hearing of Anti-dumping and Countervailing Investigations of the MOFCOM. When necessary as it deems, the MOFCOM may actively hold a hearing.

(V) On-site inspections

When necessary, the MOFCOM will assign workers to conduct on-site inspections at relevant countries; any materials submitted by an interested party shall include the statement on agreement about inspections; and, before inspections, the MOFCOM will inform relevant countries and enterprises in advance.

IV. Non-cooperation

In accordance with Article 21 of the Anti-dumping Regulations of the People's Republic of China, when the MOFCOM makes an investigation, an interested party shall faithfully reflect situations and provide relevant materials. If an interested party fails to do so, fails to provide necessary information within a reasonable time, or seriously impedes an investigation in any other way, the MOFCOM may give a ruling according to facts already obtained and the best information available.

V. Contact Information

Trade Remedy and Investigation Bureau of the Ministry of Commerce

Address: No. 2 Dong Chang'an Avenue, Beijing

Postal code: 100731

Tel.: 86—10—65198474; 65198197

Fax: 86-10-65198172

Ministry of Commerce of the People's Republic of China

June 15, 2018

(All information published in this website is authentic in Chinese. English is provided for reference only.)

USTR Issues Tariffs on Chinese Products in Response to Unfair Trade Practices

USTR 15 June 2018

Washington, DC– The Office of the United States Trade Representative (USTR) today released a list of products imported from Chinathat will be subject to additional tariffs as part of the U.S. response to China’s unfair trade practices related to the forced transfer of American technology and intellectual property.  

On May 29, 2018, President Trump stated that USTR shall announce by June 15 the imposition of an additional duty of 25 percent on approximately $50 billion worth of Chinese imports containing industrially significant technologies, including those related to China’s "Made in China 2025” industrial policy.  Today’s action comes after an exhaustive Section 301 investigation in which USTR found that China’s acts, policies and practices related to technology transfer, intellectual property, and innovation are unreasonable and discriminatory, and burden U.S. commerce.

"We must take strong defensive actions to protect America’s leadership in technology and innovation against the unprecedented threat posed by China’s theft of our intellectual property, the forced transfer of American technology, and its cyber attacks on our computer networks,” said Ambassador Robert Lighthizer.  " China’s government is aggressively working to undermine America’s high-tech industries and our economic leadership through unfair trade practices and industrial policies like ‘Made in China 2025.’  Technology and innovation are America’s greatest economic assets and President Trump rightfully recognizes that if we want our country to have a prosperous future, we must take a stand now to uphold fair trade and protect American competitiveness.”

The list of products issued today covers 1,102 separate U.S. tariff lines valued at approximately $50 billion in 2018 trade values.  This list was compiled based on extensive interagency analysis and a thorough examination of comments and testimony from interested parties.  It generally focuses on products from industrial sectors that contribute to or benefit from the "Made in China 2025” industrial policy, which include industries such as aerospace, information and communications technology, robotics, industrial machinery, new materials, and automobiles.  The list does not include goods commonly purchased by American consumers such as cellular telephones or televisions.

This list of products consists of two sets of U.S tariff lines.  The first set contains 818 lines of the original 1,333 lines that were included on the proposed list published on April 6.  These lines cover approximately $34 billion worth of imports from China.  USTR has determined to impose an additional duty of 25 percent on these 818 product lines after having sought and received views from the public and advice from the appropriate trade advisory committees.  Customs and Border Protection will begin to collect the additional duties on July 6, 2018.

The second set contains 284 proposed tariff lines identified by the interagency Section 301 Committee as benefiting from Chinese industrial policies, including the "Made in China 2025” industrial policy.  These 284 lines, which cover approximately $16 billion worth of imports from China, will undergo further review in a public notice and comment process, including a public hearing.  After completion of this process, USTR will issue a final determination on the products from this list that would be subject to the additional duties.

USTR recognizes that some U.S.companies may have an interest in importing items from China that are covered by the additional duties. Accordingly, USTR will soon provide an opportunity for the public to request the exclusion of particular products from the additional duties subject to this action.  USTR will issue a notice in the Federal Register with details regarding this process within the next few weeks.

Background

President Trump announced on March 22, 2018, that USTR shall publish a proposed list of products and any intended tariff increases in order to address the acts, policies, and practices of Chinathat are unreasonable or discriminatory and that burden or restrict U.S. commerce.

These acts, policies and practices of China include those that coerce American companies into transferring their technology and intellectual property to domestic Chinese enterprises.  They bolster China’s stated intention of seizing economic dominance of certain advanced technology sectors as set forth in its industrial plans, such as "Made in China 2025.”  (See USTR Section 301 Report here.)

On April 3, USTR announced a proposed list of 1,333 products that may be subject to an additional duty of 25 percent, and sought comments from interested persons and the appropriate trade advisory committees.

President Xi : Secure growth with quality

China Daily | 2018-06-15 03:38

President Xi Jinping has urged government officials to secure high-quality economic growth and boost innovation to meet people's increasing need for a better life.

Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, made the remark during a three-day inspection tour in Shandong province that ended on Thursday.

He said the key to advancing high-quality development is to pursue supply-side structural reform, pushing for changes in quality, efficiency and drivers of economic growth.

Solid efforts are needed to promote industrial transformation and upgrading as well as innovation-driven development, he added.

Xi highlighted the importance of ensuring economic growth, advancing reforms, readjusting the economic structure, improving people's well-being as well as forestalling risks, saying continuous efforts are needed to win the three critical battles against potential risk, poverty and pollution.

On Thursday, Xi visited an Inspur Group factory building high-end fault-tolerant computers in Jinan, the provincial capital. He inspected the production process and workflow and talked with employees.

Pushing innovation-driven development and fostering new growth drivers are key to overcoming difficulties in the nation's development, Xi said.

On Wednesday, when Xi visited Yantai, a coastal city in the province, he urged State-owned enterprises to press ahead for reforms, encouraging them to build capacity for independent innovation.

Clinging to outmoded ideas or practices will lead nowhere, and reforms are needed to enable State-owned enterprises to modernize, he said.

Representatives of Wanhua Chemical, a local shareholding company restructured from a State-owned enterprise, told Xi about the company's efforts to change from an enterprise with backward technologies into an industry flagship, highlighting their growing capabilities in technological innovation.

Xi said he believes the company's success results from independent innovation. Nothing is impossible, but vigorous efforts are needed, he added.

The 19th CPC National Congress called for further reform of State-owned enterprises and developing mixed-ownership economic entities to make them globally competitive.

Xi also visited a base of Yantai China International Marine Containers Raffles, where he talked with worker representatives and learned more about company efforts to develop, design and manufacture high-end marine equipment through independent innovation.

Xi, Merkel aim for stronger ties

  China Daily | 2018-05-25

Germanycan gain from role in new opening-up initiative, he says

Germanyis invited to seize opportunities created by China's new round of opening-up, and the two countries should cooperate more on industries of the future, President Xi Jinping said on Thursday.

Xi made the remarks while meeting with visiting German Chancellor Angela Merkel at the Great Hall of the People in Beijing. It's the German leader's 11th visit to China.

China and Germanyshould set an example of win-win cooperation, take the lead in strengthening China-Europe relations, promote building a new type of international relations and overcome their ideological differences while enhancing cooperation, Xi said.

The president pointed out that the two sides should continue with high-level exchanges, enhance the top-level design of bilateral ties, encourage exchanges in all areas and make full use of all ways to continue dialogue.

The two countries should make joint efforts to expand markets and jointly develop a third-party market, Xi said, adding that people-to-people exchanges should also be boosted.

Chinawould like to work with Germanyto push the improvement of global governance under a multilateral framework, Xi said, adding that the two countries should enhance coordination on hot issues.

Xi said that Chinaappreciates Germany's support of the Belt and Road Initiative, and German enterprises are welcome to participate.

Chinafirmly supports the unification of Europe and hopes that the European Union remains united, stable, open and prosperous, Xi said, adding that China would like to work with Europeto uphold multilateralism.

China and Europe should send more clear and confident signals to the international community and push stable development of the global situation to benefit all sides, Xi said.

Calling Chinaan important member of the international community, Merkel said China is a significant German trade partner.

Germanywould like to seize the opportunities presented by China's opening-up, expand trade and investment cooperation with China and boost people-to-people exchanges, she said.

The two countries should enhance communication and coordination on global affairs and strengthen cooperation under multilateral frameworks such as the G20, she said.

When Premier Li Keqiang met with Merkel on Thursday, he called for two-way opening-up to expand bilateral cooperation.

German companies are welcome to continue sharing benefits brought by an opening Chinese market, and Germany and other European countries are expected to create fair and open environments for Chinese companies to invest in, he said.

The premier also called for strengthening cooperation in emerging industries such as artificial intelligence, new energy automobiles and autonomous vehicles, and exploring the potential in research and development of smart manufacturing.

The Chinese government supports sending interns to each other's countries to learn professional skills and promote craftsmanship, he said.

Chinarecently released a series of measures for opening-up and will further reduce market access thresholds, and lower shareholding ratios of foreign companies in fields such as automaking and finance, he said.

Chinese companies are welcome to invest in Germany, which supports advancing the China-EU bilateral investment treaty, Merkel told Li.

Also on Thursday, Li and Merkel attended a meeting of the Chinese-German Economic Advisory Committee with business representatives from both countries.

Noting that this year marks the first in which the re-elected governments of both countries are taking place, Li said that it is of great significance for business leaders of both countries to speak face-to-face on bilateral cooperation.

China and Germany, as the largest economies in Asia and Europe, bear responsibility in their cooperation to fight against protectionism and unilateralism and to protect trade and investment facilitation, Li said.

Merkel said the committee is maturing and has provided a good platform for candid communication for both countries.

She said that bilateral business investment in both countries shows good momentum and that she hopes both countries will provide equal market access to investments for each other.

China's tariff reduction excites foreign carmakers

Chinadaily 2018-05-25

The Mercedes-Benz logo is seen at an auto expo in Beijing, April 25, 2018. [Photo/VCG]

Foreign carmakers commented positively after China announced decision to lower tariffs on imported cars.

"All the undelivered cars will be priced in line with the latest import duty irrespective of the time for customs clearance, and some inventories are available now at the adjusted prices," Tesla said in a statement.

On Tuesday, Tesla took the lead in reducing prices for Model S and Model X in the Chinese mainland as a response to tariff reduction. The intended cuts will reduce the final price of imported cars by 8 percent to 15 percent, predicted CITIC Securities.

The Model X 75 D for example was sold out immediately at an experience store in Shanghaiafter its price was reduced by over 70,000 yuan, The Paper reported.

Volvo cut the price of its imported cars as well to attract more customers. Its flagship sports utility vehicle model XC90 has a maximum price cut of over 100,000 yuan, said the company on Thursday.

Other foreign automakers also responded right away. BMW, Mercedes-Benz, Audi and Porsche said respectively that they will evaluate the current suggested retail price in response to the government policy.

Toyotasaid "we will cut the price of imported vehicles and deliver more competitive products to Chinese customers".

The reductions may be more favorable to German automakers since one-third of cars imported to Chinain 2017 were built in Germany, making the country ahead of its rivals, Financial Times said.

BMW and Mercedes-Benz were the top two brands in sales volume of imported cars last year, said China Automobile Dealers Association.

According to statistics from China Association of Automobile Manufacturers in January, Chinaproduced more than 29 million vehicles and sold 28.88 million in 2017, and it imported over 1.2million vehicles, some 4.2 percent of total sales.

Xi calls for high-quality growth through developing Yangtze River economic belt

Source: Xinhua| 2018-04-27 

Stabilizing China-India military ties people's shared aspiration: National Defense Ministry

Xinhua| 2018-04-26 2

BEIJING, April 26 (Xinhua) -- Stabilizing military relations between China and India and maintaining peace in the border areas are the shared aspirations of people from both countries, according to Wu Qian, spokesperson with China's Ministry of National Defense, on Thursday.

"Despite some difficulties and obstacles in the bilateral military relationship, we are willing to deepen understanding, enhance mutual trust, properly handle differences, and incessantly accumulate positive energy for the healthy and stable development of military ties under the guidance of the important consensus reached between leaders of both countries," Wu told a press conference.

China to be bolder in opening up financial sector: central bank governor

Source: Xinhua| 2018-03-09

Zhou Xiaochuan (C), governor of the People's Bank of China (PBOC), Yi Gang (R), deputy governor of the PBOC and Pan Gongsheng, deputy governor of the PBOC and head of the State Administration of Foreign Exchange, attend a press conference on financial reform and development on the sidelines of the first session of the 13th National People's Congress in Beijing, capital of China, March 9, 2018. (Xinhua/Li Xin)

BEIJING, March 9 (Xinhua) -- China will be bolder in opening up its financial sector, Zhou Xiaochuan, governor of the central bank, said here Friday.

"We have studied most of the policies and will look for opportunities to advance the progress," Zhou told a press conference on the sidelines of the annual session of the National People's Congress (NPC).

China will open up its financial sector to foreign investment through measures including making market entry standards the same for both Chinese and foreign banks.

China has made progress on currency convertibility in the past five years by introducing stock and bond connect programs between the Chinese mainland and Hong Kong, which are all part of the country's financial opening up, he said.

He also pointed out that the opening up of the financial sector includes not only widening market access for foreign investors, but also the global expansion of China's domestic financial institutions and promotion of global use of yuan.

"The globalization of the yuan will be a gradual process," he said, noting that the central bank will work to enhance connection between China's capital market and other markets, and at the same time push for the convertibility of capital accounts.

Meanwhile, granting equal treatment to both domestic and foreign investors does not mean loosening regulation, said Yi Gang, vice governor of the People's Bank of China, at the same occasion.

Foreign financial institutions will be under the same prudent regulation as Chinese ones to forestall risks and protect financial stability.

"Internet of Things" for China's Agriculture

China's latest plan for agriculture is to substitute big data and artificial control for traditional farming methods.

On January 10,2018 Vice Minister of Agriculture Yu Xinrong announced the launch of regional pilot "Internet of things agriculture projects." 

The "Internet of things" (物联网) is the network of gadgets and sensors that are connected through the Internet, collect and compile vast amounts of data and can be controlled remotely from computers or mobile phones. Applications are mainly for remote-controlled greenhouses, animal traceability systems, and monitoring of transportation and storage facilities.

The pilot projects are in Tianjin, Shanghai, and Anhui. Mr. Yu made the announcement during a trip to Shanghai where he visited the Bio-tag Ltd. Co. which makes electronic tags for animals, the Shanghai Infrastructure Agriculture Internet of Things Base, a vegetable company, the Shanghai Internet of Things Service Center, the animal traceability electronic service center, and the Plant Growth Perception Demo and had discussions with experts and company executives.

Vice Minister Yu said that the recent "agricultural work meeting" in Beijing recommended relying on science and technology-support and innovation-drive to follow the path of modern agriculture with Chinese characteristics. The "Internet of things" strategy will be "government-guided" and "market-driven." Policies supporting technology and innovation will support the Internet of things strategy, said Mr. Yu. The strategy emphasizes "system design" and a concept of "whole system, all factors, whole process."

Tianjin's agriculture commission's description of its projects gives some clues about what "Internet of things" agriculture is. The project is described as part of the municipality's transition from traditional agriculture to information-ization and intelligent development. Other buzz words include "science and technology planning," "small and medium enterprises," "high-tech companies," and "metropolitan-style agriculture."

Over the past two years, 14 Tianjinprojects have received public investment of 3.34 million yuan ($547 million) and private investment of 27 million  yuan ($4.4 million) in research, demonstration and use of "Internet of things" in agriculture. Four key projects illustrate the applications of "Internet of things".

First is a system for climate control in greenhouses. An intelligent engineering system designed for artificial control of greenhouse temperature and air collects data and sends out warnings when temperature falls dangerously low in the cold winter months. A second project is aimed at improving food safety by monitoring microorganisms in milk at each stage "from cow to table." The dairy monitoring is said to increase transparency and improve the reputation and competitiveness of dairy companies.

A third project addresses problems in the chicken industry by again collecting and storing data on the various stages of the supply chain. The chicken project also plans to set up a system for remotely offering advice to farmers on disease diagnosis and prevention. This is supposed to raise profits for companies and attract more farmers to raise chickens and earn more money.

The fourth project addresses problems with growing vegetables in plastic-covered hothouses. This will use the latest micro-power wireless technology to collect data from temperature and humidity sensors and early detection of pests. Vegetables will be tracked and monitored visually in transportation and storage using GPS, RFID, sensing, and GIS to facilitate scheduling.

China has a long love affair with technology and engineering solutions for agriculture. They have been building space-age agricultural facilities since the 1980s and much of this technology was used in Beijing's food safety system during the 2008 Olympics. Treating the food system like a space program may achieve impressive results but such systems fall into disuse once officials have lost interest, equipment breaks down and no one knows how to use it properly. Agriculture is a complex activity and there is no substitute for a farmer who knows his land and his customer.

Economic outlook expected to be bright in 2018

Chinadialy |  2018-01-19

Evergrande Group Chief Economist Ren Zeping made a speech at a forum held in Beijing on Jan 18, 2018. [Photo by Song Jingli/chinadaily.com.cn]

China's economy this year will grow by between 6.5 percent and 6.8 percent year-on-year, Fan Hengshan, vice secretary of National Development and Reform Commission, predicted on Thursday.

"I am afraid the economic growth in 2018 might be difficult to exceed the 6.9 percent growth rate recorded in 2017, which was unexpectated," Fan told participants at the "New Order, New Power" forum held by news portal Hexun.com.

But Fan said he was optimistic about the economic outlook, as effects of major reforms these two years would continue to surface in 2018.

Like Fan, Evergrande Group Chief Economist Ren Zeping also shared his high expectations for the country's growth.

Ren reemphasized his opinion that Chinais now at the starting point of a "new" recovery cycle as the global economy is recovering and China's outdated capacity has been eliminated.

He said that at the beginning of 2017, there were hot debates on the "new cycle" prediction between economists, which indicated there were divided opinions on how the economy would develop.

However, the country's actual growth realized last year has shown that the new cycle has really come into being and that was due to three things done right by the country's decision makers, Ren added.

"The leadership has figured out where the problems were and correspondingly came up with the right solution, which was the supply-side reform," said the economist.

"In addition, the execution has been very strong," he said, citing the anti-air pollution campaign as an example.

Xi thought proposed to be included in Constitution

Xinhua |  2018-01-19

The second plenary session of the 19th Communist Party of China (CPC) Central Committee, presided over by the Political Bureau of the CPC Central Committee, is held in Beijing, capital of China, from Jan. 18 to 19. [Xinhua/Xie Huanchi]

BEIJING -- The Communist Party of China (CPC) Central Committee Friday proposed to write Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era into the Constitution. 

Major theoretical achievements, principles and policies adopted at the 19th CPC National Congress should be incorporated into the upcoming revision to the Constitution, according to a communique issued after the second plenary session of the 19th CPC Central Committee, which was held in Beijing Thursday and Friday.

A proposal from the CPC Central Committee on the revision to the Constitution was adopted at the meeting.

New achievements, experiences and requirements of the development of the Party and nation should be embodied in the revised Constitution, according to the communique.

"We should keep pace with the times and improve the Constitution while maintaining its consistency, stability and authority," the document said.

The CPC Central Committee stressed "holding high the great banner of socialism with Chinese characteristics and fully implementing the spirit of the 19th CPC National Congress" in amending the Constitution. 

The amending process should take Marxism-Leninism, Mao Zedong Thought, Deng Xiaoping Theory, the Theory of Three Represents, the Scientific Outlook on Development, and Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as the guide, according to the communique. 

The top legislature will also review amendments to laws on the Red Cross Society, maritime environmental protection, water pollution and small- and medium-sized enterprises.