"The U.S.-China Economic and Security Review Commission is watching the events now unfolding in Hong Kong with great concern. We support an open and democratic system in Hong Kong based on universal suffrage, freedom of expression, and freedom of assembly. As called for in the Basic Law, Hong Kong should have a high degree of autonomy, which is essential to maintaining its long-term…
Key Points:
Since its last overhaul in 1994, China’s flawed fiscal system has muddled through. Local debt, slowing revenue, and greater spending obligations are now spurring a new round of reform under President Xi Jinping;
By eliminating the so-called “business tax,” Beijing is allowing services companies to enjoy the same tax deductions and rebates manufacturers do. The government may also…
Key Points• Chinese authorities have used Hong Kong’s position as a global financial center to promote the use of the RMB abroad. Hong Kong is the oldest and largest market for offshore RMB transactions, and will remain so despite the emergence of several other offshore contenders.
• To date, RMB internationalization efforts have involved three main channels: offshore RMB deposit accounts and…
In May 2014, Alibaba, China’s leading e-commerce website, filed for a U.S.-based initial public offering (IPO) in what is expected to be one of the largest in U.S. history. The highly anticipated IPO will be just one in a recent wave of Chinese Internet companies launching IPOs in the United States. The trend has raised some misgivings among U.S. regulators about the corporate structures of these…
This report examines 35 years of cooperation between the United States and China in the areas of science and technology (S&T) since the signing of the 1979 U.S.-China Science and Technology Cooperation Agreement.
Since the Commission’s examination in 2008 of prison labor issues in the People’s Republic of China (PRC), there has been little substantive reduction in the scale and scope of China’s broad network of prison labor facilities. These facilities, led by local officials, continue to produce goods intended for export on a potentially large scale, in violation of U.S.-China agreements on the exports…