The labeling change from 'Made in Hong Kong' to 'Made in China' does not mean HK exports to the US will attract additional US tariffs on Chinese products.
Eligible enterprises engaged in four key technology industries – integrated circuits, AI, biomedicine, and civil aviation – will benefit from the reduced tax rate.
With the looming possibility of a US-China technology decoupling, China is improving its incentive schemes for its integrated circuit and software industries.
The European Union-Vietnam Free Trade Agreement (EVFTA) went into effect on August 1, paving the way for increased trade and the removal of tariffs on most products between both partners.
Battling the pandemic has caused China to rethink its priorities within the healthcare system – accelerating the rise of telemedicine and other digital healthcare segments.