China
China Unveils Plan to Upgrade Industrial Equipment
China unveiled a comprehensive action plan for upgrading industrial equipment, with a focus on driving technological innovation and economic growth. The plan, released on April 9, 2024, aims to enhance competitiveness and sustainability within the manufacturing sector through extensive investment and regulatory support.
China announced an ambitious action plan for industrial equipment upgrading, which aims to drive technological innovation and economic growth through extensive investment and regulatory support.
On April 9, 2024, China’s Ministry of Industry and Information Technology (MIIT) and six other departments jointly released a notice introducing the Implementation Plan for Promoting Equipment Renewal in the Industrial Sector (hereafter referred to as the “action plan”).
Finalized earlier on March 23, 2024, this comprehensive action plan addresses critical issues related to technological innovation and economic development. It reflects China’s proactive stance in enhancing competitiveness and sustainability within its manufacturing sector. The initiative underscores the recognition of industrial equipment upgrading as a top policy priority.
The scope of China’s action plan to upgrade industrial equipment in manufacturing, is extensive, covering various aspects such as:
In line with China’s ambitious goals for industrial modernization and sustainable development, the action plan outlines several key objectives aimed at driving substantial advancements in the industrial sector by 2027.
These objectives encompass a wide range of areas, from increasing investment to enhancing digitalization and promoting innovation, including:
The objectives and key actions proposed in the action plan are summarized below.
This article is republished from China Briefing. Read the rest of the original article.
China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.
Business
India Indicates Willingness to Strengthen Business Relations with China Following Border Dispute Resolution – MSN
India shows willingness to strengthen business relations with China following the resolution of border tensions, indicating a potential shift towards economic cooperation between the two nations.
India Signals Business Intentions with China
India has expressed its willingness to strengthen business relations with China following the recent resolution of border tensions. This shift marks a significant change in India’s approach towards its neighboring country, particularly after a prolonged period of strained relations. The move highlights India’s interest in enhancing economic ties, acknowledging the potential benefits of cooperation.
Economic Opportunities Ahead
The resolution of border disputes opens avenues for trade and investment between the two nations. Indian officials are optimistic that improved relations could lead to increased bilateral trade, enhancing mutual prosperity. As both economies grow, the collaboration could aid in addressing various global challenges together.
A New Chapter in India-China Relations
This new phase in India-China relations comes at a crucial time, as both countries navigate complex geopolitical landscapes. With a focus on economic integration, India aims to foster a collaborative atmosphere that could promote regional stability and growth. The commitment to dialogue and negotiation signals a positive shift towards a more stable partnership.
Source : India signals readiness to pursue China business ties after border row resolved – MSN
China
China Broadens Opportunities for Wholly Foreign-Owned Hospitals: 9 Cities Ready for Investment
On November 29, 2024, the National Health Commission and three departments outlined plans for wholly foreign-owned hospitals in nine cities, following a September pilot policy. Foreign investors must be experienced entities complying with legal medical service regulations to establish these hospitals.
On November 29, 2024, the National Health Commission (NHC) together with three other government departments announced the detailed work plan for the establishment of wholly foreign-owned hospitals in nine major cities, including Beijing, Tianjin, Shanghai, Nanjing, Suzhou, Fuzhou, Guangzhou, Shenzhen, and the entire island of Hainan.
This is a prompt follow-up of the pilot policy released in September this year, which lifts bans on foreign-invested enterprises (FIEs) engaging in cell and gene therapy (CGT) in selected free trade zones (FTZs) and permits wholly foreign-owned hospitals in selected cities.
In this article, we introduce the eligibility and requirements for wholly foreign-owned hospitals as outlined in the detailed work plan and address frequently asked questions regarding this pilot.
According to the official announcement, foreign investors applying to establish wholly foreign-owned hospitals must be legally responsible entities with experience in directly or indirectly investing in and managing medical services.
They must also meet the following requirements:
According to the official announcement, wholly foreign-owned hospitals must be established and operated in compliance with relevant laws and regulations:
This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, and India . Readers may write to info@dezshira.com for more support. |
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China
Beijing’s Aspirations in the South China Sea Remain Unshaken Despite China–Philippines Agreement
The Philippines and China agreed on a temporary arrangement allowing resupply of the BRP Sierra Madre, recognizing the Philippines’ rights in its EEZ and challenging China’s territorial claims in the South China Sea.
Philippines and China Reach Temporary Agreement
The Philippines and China have struck a temporary deal allowing the Philippines to resupply the grounded naval vessel, BRP Sierra Madre, in the South China Sea. This agreement is a critical step as it upholds the Philippines’ rights within its Exclusive Economic Zone (EEZ), countering China’s territorial claims. The BRP Sierra Madre serves as a key element for the Philippines to maintain its presence in the contested waters. China’s aggressive actions in the region have led to increased international scrutiny, straining its diplomatic relationships.
Conflict on High Seas
The provisional arrangement came after a confrontation on July 21, 2024, where the Chinese coast guard attacked Philippine Navy boats attempting to deliver supplies to the BRP Sierra Madre. While this new accord may help protect Filipino military personnel, it ultimately does little to alter the broader dynamics of bilateral relations. The acknowledgment of the Philippines’ EEZ rights undermines China’s objectives in the South China Sea.
Strategic Implications of the South China Sea
The South China Sea is crucial, accounting for over 60% of global maritime trade valued at approximately $5 trillion. It serves as a significant gateway for Chinese naval forces amid its ambitions to dominate the Indo-Pacific region. As the U.S. and its allies bolster their defenses, Beijing feels pressured to assert its strength. While the temporary agreement may offer a short-term reprieve from escalating conflicts, China’s military experience in such high-stakes scenarios remains relatively untested.
Source : Beijing’s South China Sea ambitions won’t be battered by China–Philippines agreement