Sinobravo Policy Express (May 2026)

High-Level Interaction

HE Lifeng Meets German Federal Minister for Economic Affairs and Energy & Delegation of German Business Executives

On May 27, Vice Premier of the State Council HE Lifeng met with Dr. Robert Habeck, German Federal Minister for Economic Affairs and Energy, and a delegation of German business executives. HE Lifeng stated that China and Germany are each other's important economic and trade partners, with a solid foundation, great potential, and strong complementarity in bilateral economic and trade cooperation. He expressed hope that both sides would further consolidate the foundation of traditional cooperation, tap the potential of emerging fields, and promote the sustained and healthy development of bilateral economic and trade relations through high-level cooperation. Minister Habeck stated that Germany is a trustworthy economic and trade partner of China, and the German business community is optimistic about China's economic prospects and innovation strength, and will continue to deepen cooperation with China.

LING Ji Meets German SME Delegation

On May 25, LING Ji, Vice Minister of Commerce and China International Trade Negotiator, met with a German Small and Medium-sized Enterprise (SME) delegation. LING Ji noted that China-Germany economic and trade relations have developed steadily and healthily over a long period, with increasingly integrated industrial and supply chains. He welcomed German SMEs to leverage their innovation advantages and share in the opportunities of China's high-quality development.

ZHU Hexin Meets Banque de France Governor François Villeroy de Galhau

On May 25, ZHU Hexin, Administrator of the State Administration of Foreign Exchange (SAFE), met with François Villeroy de Galhau, Governor of the Bank of France (Banque de France). The two sides exchanged views on the international economic and financial situation and deepening China-France financial cooperation.

WANG Wentao Meets UNCTAD Acting Secretary-General

On May 23, Minister of Commerce WANG Wentao met in Suzhou with Rebeca Grynspan, Acting Secretary-General of the UN Conference on Trade and Development (UNCTAD), who was in China to attend the APEC Ministers Responsible for Trade (MRT) Meeting. WANG Wentao expressed China's hope to elevate cooperation with UNCTAD centering on the implementation of the Global Governance Initiative and Global Development Initiative proposed by President XI Jinping, as well as the major measures announced at the 60th anniversary commemoration of UNCTAD. Ms. Grynspan congratulated China on successfully hosting the APEC MRT meeting and achieving fruitful outcomes, noting that China's 15th Five-Year Plan provides certainty to the world economy and makes significant contributions to stabilizing global trade.

APEC Ministers Responsible for Trade Meeting Held in Suzhou

From May 22 to 23, the APEC Ministers Responsible for Trade (MRT) Meeting was held in Suzhou, Jiangsu Province. APEC economy ministers or representatives, observers, and heads of international organizations including the WTO and UNCTAD attended the meeting. The meeting issued a Joint Statement (Suzhou Statement) and reached agreement on the APEC Roadmap on Innovative, Competitive and Resilient Services.

All parties reaffirmed support for the eventual realization of the Free Trade Area of the Asia-Pacific (FTAAP); committed to deepening experience sharing, capacity building, and technical cooperation to enhance members' ability to participate in high-standard FTAs; and pledged to promote an open and predictable institutional environment for trade and investment in services to advance regional economic integration. They supported WTO reform to enhance the effectiveness and relevance of the WTO in addressing global trade challenges and member concerns, backed the temporary moratorium on customs duties on electronic transmissions, and advocated for the incorporation of the Investment Facilitation Agreement and E-commerce Agreement into the WTO legal framework. They also pushed for substantive progress on a framework for regional digital trade cooperation, committing to strengthen paperless trade, cross-border e-commerce, and AI-related trade cooperation, and to promote cross-border mutual recognition of electronic trade documents and cross-border data flow. The meeting also explored new measures for green trade development and deepened cooperation on environmental services.

HE Lifeng Meets AMD Chair and CEO Dr. Lisa Su

On May 18, Vice Premier HE Lifeng met with Dr. Lisa Su, Chair and CEO of Advanced Micro Devices (AMD). HE Lifeng pointed out that under the strategic guidance of the two heads of state, the Chinese and U.S. economic and trade teams have reached generally balanced and positive outcomes, which will inject more certainty and stability into China-U.S. economic and trade cooperation and the world economy. He welcomed multinational companies including AMD to grasp China's development opportunities and deepen mutually beneficial cooperation. On the same day, REN Hongbin, Chairman of the China Council for the Promotion of International Trade (CCPIT), also met with Dr. Lisa Su to discuss pragmatic China-U.S. business cooperation, services for foreign-funded enterprises in China, and participation in the 2026 APEC Business Advisory Council (ABAC) activities.

China-U.S. Economic and Trade Consultations Held in South Korea

On May 13, HE Lifeng, Chinese Lead Person for China-U.S. Economic and Trade Affairs and Vice Premier of the State Council, held economic and trade consultations in South Korea with U.S. Treasury Secretary Scott Bessent. A Commerce Ministry spokesperson stated that the preliminary outcomes reached by both sides include: forming positive consensus on relevant tariff arrangements; agreeing to establish a Trade Council and an Investment Council, through which product-specific tariff reductions will be discussed—both sides agreed in principle to reduce tariffs on products of mutual interest of equivalent scale; resolving or substantively advancing the resolution of non-tariff barriers and market access issues for certain agricultural products; agreeing to promote two-way trade expansion (including in agriculture) through reciprocal tariff reductions on selected products; and reaching arrangements regarding China's procurement of aircraft from the U.S. and U.S. guarantees for the supply of aircraft engines and parts to China, with agreement to continue cooperation in related fields.

WANG Yi Meets U.S. Congressional Bipartisan Delegation

On May 7, Member of the Political Bureau of the CPC Central Committee and Foreign Minister WANG Yi met in Beijing with a U.S. Congressional bipartisan delegation led by Senator Steve Daines, the first such delegation to visit China since President Trump took office. WANG Yi stated that China-U.S. relations bear on the well-being of the two peoples and the stability of the global landscape. China's policy toward the U.S. is consistent: the two countries should take mutual respect as the cornerstone, peaceful coexistence as the norm, and win-win cooperation as the goal, to explore the right way for major countries to get along and jointly contribute to world peace and stability. China will not follow the old path of "the strong inevitably seeking hegemony," will persist in peaceful development, and firmly follow the path of socialism with Chinese characteristics. He hoped the U.S. side would view China objectively, form rational perceptions of China, earnestly respect China's core interests, and properly manage differences. The U.S. side shared their impressions from the visit and views on U.S.-China relations. Both sides also exchanged views on international and regional issues of common concern.

Personnel Updates

GUAN Zhihou Appointed CPC Secretary of Hubei Provincial Committee

On May 30, Xinhua News Agency reported that the CPC Central Committee decided: GUAN Zhihou is appointed as Member, Standing Committee Member, and Secretary of the CPC Hubei Provincial Committee. Aged 56, of Manchu ethnicity and from Shenyang, Liaoning, GUAN holds a Master of Agronomy and a Doctor of Science. He served long-term in Liaoning province, became a member of the Liaoning Provincial Standing Committee in 2016, and served as a member of the Shandong Provincial Standing Committee from March 2018. Prior to this appointment, he was Minister and Party Group Secretary of the Ministry of Natural Resources.

YUAN Fang Appointed Vice Governor of Yunnan Province

On May 28, the 23rd session of the 14th Standing Committee of the Yunnan Provincial People's Congress decided to appoint YUAN Fang as Vice Governor of Yunnan Province. YUAN previously worked for 11 years at the predecessor of China Coal Mine Construction Group Corp. From 2002, he served in provincial agencies of Anhui and in the cities of Suzhou, Anqing, Bozhou, Huainan, and Ma'anshan. He became a member of the Yunnan Provincial Government Party Group in late March 2026.

BAI Ying Appointed Vice Governor of Liaoning Province

On May 29, the 23rd session of the 14th Standing Committee of the Liaoning Provincial People's Congress decided to appoint BAI Ying as Vice Governor of Liaoning Province. Born in March 1969 with a master's degree, BAI previously served in Tieling, provincial agencies, Benxi, and as CPC Secretary of Liaoyang City prior to this appointment.

YAO Gaoyuan Appointed Vice Governor of Zhejiang Province

On May 28, the 24th session of the 14th Standing Committee of the Zhejiang Provincial People's Congress decided to appoint YAO Gaoyuan as Vice Governor of Zhejiang Province. YAO served long-term in Zhejiang and was appointed Acting Mayor of Hangzhou in November 2022, confirmed as Mayor in December 2022. He became a member of the Zhejiang Provincial Government Party Group in April 2026.

MA Zhengyong Appointed Vice Governor of Sichuan Province

On May 27, the 27th session of the 14th Standing Committee of the Sichuan Provincial People's Congress decided to appoint MA Zhengyong as Vice Governor of Sichuan Province. MA previously worked in Guangdong province, serving in Guangzhou, Qingyuan, and Meizhou. He was appointed Vice Governor of Guangdong Province in April 2025 while concurrently serving as CPC Secretary of Meizhou, until his transfer to Sichuan in April 2026.

DU Xuliang Appointed Acting Mayor of Hangzhou

On May 25, the 35th session of the 14th Hangzhou Municipal People's Congress decided to appoint DU Xuliang as Vice Mayor and Acting Mayor of Hangzhou. Aged 54 and from Yiwu, Jinhua, Zhejiang, DU previously served in the General Office of the Zhejiang Provincial People's Congress, the Zhejiang Provincial Development and Reform Commission (NDRC), Shaoxing Municipal Government, and the Zhejiang Provincial Government's Beijing Office. Immediately prior, he was Director of the Zhejiang Provincial DRC.

HE Chunkuan Appointed Vice Governor of Anhui Province

On May 22, the 24th session of the 14th Standing Committee of the Anhui Provincial People's Congress decided to appoint HE Chunkuan as Vice Governor of Anhui Province. HE previously served long-term at the University of Science and Technology of China (USTC), and held positions as Deputy Head of the CPC Anhui Provincial Organization Department and CPC Secretary of Xuancheng City.

Macroeconomic Policy

GACC Issues 20 Measures to Support Guangdong-Hong Kong-Macao Greater Bay Area Development

On May 21, the General Administration of Customs (GACC) released Several Measures of Customs to Support the Construction of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), proposing 20 initiatives in five areas: (1) Implementing "one policy for one zone" for major platforms including Hengqin, Qianhai, Nansha, and Hetao; supporting Hengqin port inbound duty-free shops and Macau University-Hengqin port links; promoting Qianhai global consolidation/distribution and bonded maintenance; supporting Nansha Port Phase IV and full-format cross-border e-commerce; facilitating cross-border flow of ST factors in the Hetao Shenzhen Park. (2) Cultivating new drivers of foreign trade—piloting self-declaration for I&C preferential entities, simplifying clearance of biomedical research materials, rolling out the "inspect first, load later" model for cross-border e-commerce. (3) Promoting cross-border flow of innovative factors, exploring exemption from license submission for qualified enterprises. (4) Supporting advanced manufacturing in tackling foreign technical barriers for new energy storage and smart terminal products. (5) Facilitating personnel and vehicle clearance, optimizing "Macao Vehicles Northbound," "Hong Kong Vehicles Northbound," and "Guangdong Vehicles Southbound" supervision.

Guangdong Issues 3-Year Action Plan for High-Quality Service Trade Development; Targets Over USD 310 Billion by 2028

On May 20, the Guangdong Provincial Government issued the Three-Year Action Plan for High-Quality Development of Service Trade in Guangdong Province (2026–2028), setting targets: by 2028, total service trade import and export exceeding USD 310 billion, with an average annual growth rate above 10%; the proportion of knowledge-intensive service exports rising to 52%; and significantly enhanced international influence of the "Guangdong Service" brand.

National Data Bureau Issues 2026 Key Tasks for Digital Economy Development

On May 19, the National Data Bureau issued the 2026 Key Work Items for Digital Economy Development, deploying eight key tasks: deepening market-oriented allocation reform of data elements and establishing a unified national data property rights registration system; consolidating the digital infrastructure base by accelerating the national integrated computing power network; empowering AI development with data via six special actions; enhancing core competitiveness of the digital economy by fostering digital industry clusters; promoting deep integration of the real economy and digital economy; improving digital governance and services, advancing the legislative process for a Digital Economy Promotion Law, and strengthening identification and protection of important/core data; deepening international digital economy cooperation; and fostering a sound development environment including releasing a Digital Economy Development Index.

NFRA Adjusts Requirements for SME Financial Services

On May 19, the National Financial Regulatory Administration (NFRA) issued the Notice on Doing a Good Job in SME Financial Services in 2026, requiring full use of coordination mechanisms to promote "stable lending, optimized structure, improved quality, and sustainability" for SME finance. The NFRA no longer sets a uniform nationwide硬性(hard) loan growth target, shifting emphasis to credit structure optimization and business sustainability—transitioning SME financial services from "scale-driven" to "quality-first."

SAMR Clarifies 34 Key Tasks for Promoting Private Sector Development in 2026

On May 17, the State Administration for Market Regulation (SAMR) released the 2026 Key Work Items for Market Regulation Departments to Promote the Growth of the Private Economy, outlining 34 tasks including: refining the fair competition legal system and enterprise-related fee supervision; maintaining fair market order, advancing the building of a unified national market, and cracking down on "involution-style" (cut-throat) competition; enhancing regulatory law enforcement efficiency; and continuing to build the "Credit + Service" brand.

National Campaign Launched for "Fertility-Friendly Cities" and "Fertility-Friendly Workplaces"

On May 14, the National Health Commission issued the Administrative Measures for the Creation of National Fertility-Friendly Cities and Fertility-Friendly Work Units, stipulating a three-year cycle for creation and appraisal. The city-level campaign aims to reduce families' burdens of childbirth, childcare, and education through improved economic, time-off, service, and cultural support measures. The workplace-level campaign requires employers to implement fertility support policies to create favorable conditions for employees.

Zhejiang Rolls Out 12 Rule-of-Law Measures to Boost Consumption and Private Investment

On May 13, Zhejiang Province released Several Measures on Safeguarding and Promoting Consumption and Private Investment Through the Rule of Law, which includes cleaning up unreasonable restrictive provisions in consumption areas (autos, housing, culture/tourism, sports, elderly care, childcare, education/training, yachts, low-altitude economy, commercial retrofitting, and emerging consumption) as part of the 2026 regulatory cleanup. The 12 measures in four categories include: promoting implementation of paid leave (annual leave, marriage/maternity leave, only-child elder-care leave), silver-hair tourism, extended museum hours, and free access to public sports facilities; establishing a long-term mechanism for standardized administrative law enforcement toward enterprises, fully implementing administrative discretion benchmarks; and continuously optimizing the private economy environment by fully enforcing the Private Economy Promotion Law to ensure fair market competition.

Optimized Tax Refund (Departure) Measures for Inbound Tourists to Expand Inbound Consumption

On May 12, the Ministry of Commerce and five other departments jointly issued the Notice on Strengthening and Optimizing Departure Tax Refund Measures to Expand Inbound Consumption, effective July 1. Measures include: increasing tax-refund shop coverage; applying random sampling for refund applications under RMB 10,000 and full verification for RMB 10,000 and above; optimizing "instant refund upon purchase" services with the departure window uniformly extended to 28 days; promoting paperless refund processing; setting up tax-refund service counters at major expos (CIIE, Canton Fair, CICPE); and improving the inbound consumption environment by adding int'l flight routes and enhancing payment convenience.

Sichuan Issues 9 Measures for Policy-Based Financial Support for Foreign Trade & Investment

On May 8, the Sichuan Provincial Department of Commerce and the Export-Import Bank of China Sichuan Branch issued the Notice on Nine Measures for Continuous Policy-Based Financial Support for Foreign Trade and Economic Cooperation, focusing on advantageous industries and key supply chains. Measures include expanding special credit lines for foreign trade & investment, supporting integrated trade-investment, and providing tailor-made ("one client, one policy") service plans for key foreign trade enterprises, while promoting the use of RMB in cross-border trade/investment and enhancing RMB settlement facilitation.

Please click the following link to see more industry trends: 中富博睿政策月刊（2026年5月刊）

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