Sinobravo Policy Express (March 2026)

High-Level Interaction

He Lifeng Meets with CEO of US-based Blackstone

On 23 April, He Lifeng, Vice-Premier of the State Council, met with Stephen Schwarzman, Chairman and CEO of US-based Blackstone, and stated that China’s economy had made a strong start in the first quarter of this year, further demonstrating its resilience and vitality. China welcomes more foreign enterprises, including Blackstone, to continue deepening their cooperation with China to achieve mutual benefit and win-win outcomes. Stephen Schwarzman said that Blackstone values its cooperative relationship with China and is willing to continue expanding its business in China to contribute to the promotion of economic and trade cooperation between the US and China. On the same day, Pan Gongsheng, Governor of the People’s Bank of China, met with Stephen Schwarzman, and the two sides exchanged views on the economic and financial situation in China and globally, as well as China-US economic and trade relations.

Zheng Zhejie Meets with Airbus Global CEO

On 23 April, Zheng Zhejie, Director of the National Development and Reform Commission, met with Tom Enders, Global CEO of Airbus. Zheng Zhejie stated that in the first quarter of this year, China’s economy had achieved high-quality development characterised by innovation and excellence, with its resilience and vitality further demonstrated. China’s air transport market offers vast scope and enormous potential, and Airbus’s development in China will usher in even greater opportunities. China welcomes and firmly supports Airbus’s continued efforts to increase investment in China and expand the depth and breadth of its supply chain in the country. Furi expressed gratitude for the long-term support provided by the National Development and Reform Commission to Airbus’s development in China, adding that Airbus is willing to work with Chinese partners to continuously deepen cooperation in the aviation industry.

Xi Jinping Meets with Russian Foreign Minister Lavrov

On 15 April, President Xi Jinping met with Russian Foreign Minister Lavrov in Beijing. Xi Jinping pointed out that this year marks the 30th anniversary of the establishment of the China-Russia Strategic Partnership of Coordination and the 25th anniversary of the signing of the Treaty of Good-Neighbourliness, Friendship and Cooperation between China and Russia. The comprehensive strategic partnership of coordination between the two countries has maintained high-level development, with fruitful results in cooperation across all fields. Lavrov conveyed President Putin’s sincere greetings and best wishes to President Xi Jinping, noting that under the strategic guidance of the two heads of state, Russia-China relations have demonstrated remarkable resilience in a complex external environment. Trade and investment cooperation is progressing well, people-to-people exchanges are growing ever closer, and coordination remains close across multilateral platforms such as the United Nations, the Shanghai Cooperation Organisation, the BRICS countries and the Asia-Pacific Economic Cooperation (APEC). The Russian side is willing to work with the Chinese side to effectively implement the important consensus reached by the two heads of state, maintain high-level exchanges, strengthen practical cooperation, promote people-to-people exchanges, and uphold international fairness and justice.

Xi Jinping Meets with Spanish Prime Minister Sánchez

On 14 April, President Xi Jinping met with Spanish Prime Minister Sánchez, who was in China on an official visit. Xi Jinping pointed out that despite the complex and turbulent international situation, relations between China and Spain have continued to develop steadily, forging a China-Spain relationship characterised by strategic resilience. Both sides should seize opportunities, pursue innovative development together, strengthen cooperation in areas such as trade, new energy and the smart economy, encourage exchanges in culture, education, scientific research and sport, and promote the achievement of more results in the comprehensive strategic partnership between the two countries, bringing greater well-being to the peoples of both nations. Sánchez stated that his four visits to China over the past four years demonstrated the high importance both sides attach to Sino-Spanish relations. Investment and cooperation by Chinese enterprises in Spain have effectively promoted Spain’s economic development. Spain firmly adheres to the One-China principle, attaches great importance to China’s status as a major power, and is firmly committed to developing a Sino-Spanish partnership with strategic resilience. He expressed hope to strengthen cooperation in areas such as trade, investment and new energy, and to promote people-to-people exchanges.

He Lifeng Meets with Ray Dalio, Founder of US Investment Firm Bridgewater

On 9 April, He Lifeng, Member of the Political Bureau of the CPC Central Committee and Director of the Central Financial and Economic Affairs Commission, met with Ray Dalio, founder of the US investment firm Bridgewater Associates. He Lifeng noted that the Chinese economy had made a good start this year. During the 15th Five-Year Plan period, China will continue to expand high-level opening-up and welcomes investors from all countries to invest and do business in China. He expressed the hope that the US business community would continue to play a positive role as a guardian and promoter of China-US economic and trade relations. Dalio remarked that the resilience and stability demonstrated by the Chinese economy in the current international environment were impressive, and he was optimistic about China’s economic prospects.

Meng Fanli Meets with a Delegation from the US-China Business Council

On 9 April, Meng Fanli, Governor of Guangdong Province, met in Guangzhou with Tom Tansen, President of the US-China Business Council, and representatives from member companies including ConocoPhillips, GE Energy and Bank of America. Meng Fanli commended the Council for its long-standing role in promoting exchanges and cooperation between Guangdong and US-funded enterprises, and expressed the hope that it would continue to serve as a bridge to encourage more member companies to increase investment in Guangdong in sectors such as manufacturing and services. Tansen and the corporate representatives noted that Guangdong boasts an excellent business environment and vibrant economic vitality, making it a key destination for US-funded enterprises investing in China, and expressed a willingness to further strengthen practical cooperation.

Personnel Updates

On 29 April, according to a notice on the China Securities Regulatory Commission’s official website, Liu Haoling was appointed as a member of the Party Leadership Group and Vice-Chairman of the China Securities Regulatory Commission. Liu Haoling has held positions at several financial institutions; prior to this appointment, he served as Deputy Secretary of the Party Leadership Group, Vice-Chairman, General Manager and Chief Investment Officer of China Investment Corporation.

On 27 April, according to public reports, Yao Gaoyuan assumed the post of Member of the Party Leadership Group of the Zhejiang Provincial Government. Yao Gaoyuan has held positions in Zhejiang for a long time; in December 2021, he was appointed Party Secretary of the Zhejiang Provincial Department of Economy and Information Technology, and in December 2022, he became Mayor of Hangzhou.

On 23 April, according to the WeChat official account of the Shandong Provincial People’s Congress, Xia Fengjian was appointed Vice Governor of Shandong Province. Born in 1971, Xia holds a bachelor’s degree in Criminal Investigation and a Master of Laws from Southwest University of Political Science and Law. He previously worked in Sichuan Province for 28 years, spending much of his career in the public security system. Since July 2025, he has served as Deputy Secretary of the Political and Legal Affairs Commission of the Shandong Provincial Party Committee, as well as Party Secretary and Director of the Provincial Public Security Department.

On 16 April, according to a report on the website of the National Medical Products Administration (NMPA), Huang Guo, Deputy Director of the NMPA, was appointed Secretary of the Party Leadership Group of the Administration. Huang Guo has long served in food and drug regulatory departments, having held positions including Director of the Information Centre of the NMPA and Director-General of the Department of Comprehensive Planning and Finance, as well as serving as the spokesperson for the NMPA.

On 14 April, the 27th Session of the Standing Committee of the 14th Shanxi Provincial People’s Congress passed a resolution appointing Chang Shuming and Xu Chaofeng as Vice Governors of Shanxi Province. Chang Shuming previously served as Party Secretary and Director of the Shanxi Provincial Department of Water Resources, as well as Deputy Secretary of the Jinzhong Municipal Party Committee and Mayor of Jinzhong; he was appointed Secretary of the Jinzhong Municipal Party Committee in March 2023. Xu Chaofeng had previously worked for a long time at the Ministry of Industry and Information Technology (MIIT), where he served as Director-General of the Department of International Cooperation.

On 11 April, with the approval of the Central Committee of the Communist Party of China, Zhang Ling was appointed as a member of the Standing Committee of the Tianjin Municipal Party Committee. Born in April 1971, Zhang Ling has worked for many years in Tianjin’s higher education system and served as Party Secretary of Tianjin Normal University from 2018. In January 2023, she was elected Vice Mayor of Tianjin.

On 11 April, with the approval of the Central Committee of the Communist Party of China, Zou Guang was appointed as a member of the Standing Committee of the Hainan Provincial Party Committee. Zou Guang previously held posts in Shenzhen and Shanwei, Guangdong Province. In December 2019, he assumed the role of Deputy Secretary of the Danzhou Municipal Party Committee and Acting Mayor of Danzhou, Hainan, and was appointed Mayor in January of the following year. In December 2024, he was appointed Vice Governor of the Hainan Provincial People’s Government.

On 9 April, an update on the website of the International Department of the CPC Central Committee (hereinafter referred to as the “International Department”) showed that Jin Xin had been appointed Deputy Minister of the International Department and Director of the General Office. He has worked at the International Department since July 1995, having previously served as Director of the Research Office. In December 2024, he was appointed Assistant Minister, concurrently serving as Director of the Research Office and Director of the General Office, until assuming his new post.

On 3 April, Lin Tao was appointed a member and standing committee member of the Fujian Provincial Party Committee, as well as Secretary of the Xiamen Municipal Party Committee. Lin Tao previously held long-term posts in Guangdong, working for many years in the provincial government’s departments responsible for macroeconomics, foreign affairs, and Hong Kong and Macao affairs, and serving in prefecture-level cities such as Jieyang, Shanwei and Heyuan. In July 2023, he was promoted to Vice Governor of Guangdong Province, overseeing civil affairs, human resources and social security, transport, veterans’ affairs, state-owned asset supervision, market regulation, intellectual property and petitions. In August 2024, he was appointed Deputy Secretary-General of the State Council.

Macroeconomic Policy

State Taxation Administration Issues Country-by-Country Implementation Guidelines for Denmark, Ireland and the UAE

On 29 April, the State Taxation Administration released its first set of Country-by-Country Implementation Guidelines for Denmark, Ireland and the United Arab Emirates. From the perspective of enterprises expanding overseas, these guidelines systematically summarise the provisions of the global minimum tax regime across several dimensions, including legislative background, legislative overview, key provisions and tax administration requirements, to assist enterprises in ensuring compliance.

State Council Outlines Measures to Expand and Upgrade the Service Sector, Targeting a Total Scale of 100 Trillion Yuan by 2030

On 21 April, the State Council issued the ‘Opinions on Promoting the Expansion and Upgrading of the Service Sector’, setting out the overarching approach of combining an effective market with an active government. The document aims to promote the extension of production-oriented services towards specialisation and the high end of the value chain, and the development of consumer-oriented services towards high quality, diversity and convenience, with the goal of achieving a total service sector scale of 100 trillion yuan by 2030. Specific measures include: strengthening weak links across the entire chain of production-oriented services, with a focus on enhancing scientific and technological services, modern logistics, software and information technology, supply chain finance, energy conservation and environmental protection, and business services; elevating the development level of consumer-oriented services, increasing the supply of services to residents, improving the suitability of elderly care and childcare services, enhancing the professional capabilities of health services, and innovating service models in culture, tourism and sports.

24 Measures to Promote Capacity Expansion and Quality Improvement in Comprehensive Bonded Zones

On 17 April, the State Council forwarded the General Administration of Customs’ “Notice on Several Measures to Promote Capacity Expansion and Quality Improvement in Comprehensive Bonded Zones”, proposing 24 measures across four areas: firstly, upgrading new business models by permitting export products to enter the zones for repair before being re-exported, expanding bonded remanufacturing, and piloting the bonded import of raw materials by non-zone-based biopharmaceutical enterprises; Second, ensuring the resilience of industrial chains by supporting the construction of bulk commodity storage and logistics bases, implementing remote supervision of major technical equipment, and optimising the management of domestic sales of key commodities; third, promoting the integration of domestic and foreign trade by facilitating coordination between comprehensive bonded zones and ports, simplifying certification procedures for exports converted to domestic sales and customs clearance for pharmaceuticals, and expanding information sharing and cross-border settlement conveniences; fourth, improving the efficiency of smart supervision by refining full-lifecycle management and exempting enterprises with advanced certification from providing guarantees.

Two Departments Issue Action Plan for Trade in Services Standardisation

On 17 April, the Ministry of Commerce and the State Administration for Market Regulation jointly issued the ‘Action Plan for Standardisation in Trade in Services (2026–2030)’. The Action Plan sets out objectives to be achieved by 2030, including the establishment of a standardised system covering multiple sectors and the entire value chain of trade in services, adapted to the needs of high-quality development in this sector; an expansion in the supply of standards; enhanced international influence; and strengthened capacity to participate in international standardisation governance for trade in services. It proposes 19 measures across four key areas: accelerating the development of a standardisation framework for trade in services; strengthening the supply of standards in key sectors; promoting the internationalisation of trade in services standards; and consolidating the foundations for standardisation development.

Central Government Funding for Urban Renewal: Selected Cities to Receive Fixed-Amount Subsidies of Up to 1.2 Billion Yuan

On 17 April, the Ministry of Finance and the Ministry of Housing and Urban-Rural Development issued a notice regarding the implementation of the 2026 Central Government-Supported Urban Renewal Initiative. The initiative covers prefecture-level and higher-tier cities, with no more than 15 cities to be selected. Through a competitive selection process, the two ministries will identify cities with strong foundational conditions, high levels of enthusiasm and distinctive characteristics. The central government will provide fixed-amount subsidies to individual cities at different levels based on their geographical location: no more than 800 million yuan for cities in the eastern region, no more than 1 billion yuan for those in the central region, and no more than 1.2 billion yuan for those in the western region.

Ministry of Commerce and Export-Import Bank of China Strengthen Import-Export Credit Support

On 14 April, the Ministry of Commerce and the Export-Import Bank of China jointly issued the ‘Notice on Strengthening Import and Export Credit Support to Ensure a Strong Start for High-Quality Development of Commerce under the 15th Five-Year Plan’. The notice outlines three key areas for intensifying import and export credit support: firstly, promoting innovative trade development by supporting the expansion of diversified markets, fostering new drivers of foreign trade, and ensuring comprehensive import service guarantees across the entire supply chain; secondly, expanding two-way investment cooperation by supporting greater efforts to attract and utilise foreign investment and promoting international cooperation in industrial and supply chains; thirdly, to promote high-quality development of the Belt and Road Initiative, coordinate financial services for major landmark projects and livelihood projects, and promote the cross-border use of the renminbi.

Ministry of Industry and Information Technology Outlines Six Key Tasks for Industrial and Information Technology Quality Work in 2026

On 13 April, the Ministry of Industry and Information Technology outlined its annual industrial and information technology quality work across six key areas. Firstly, it will conduct assessments of enterprises’ quality management capabilities and guide them towards upgrading through a tiered approach. Secondly, it will promote the application of quality-related technological innovations and deepen the use of artificial intelligence. Thirdly, it will implement the ‘Foundation-Building’ and ‘Multiplier’ projects for reliability, driving improvements in the quality of raw materials, equipment, consumer goods, electronic information, and information and communications services on a sector-by-sector basis. Fourthly, strengthening the technical foundations for quality, including standards, metrology, high-end quality certification and public quality services. Fifthly, optimising the quality development ecosystem by enhancing talent cultivation, monitoring and supervision. Sixthly, implementing the “Made in China” brand-building initiative to enhance enterprises’ brand capabilities.

Ministry of Commerce and Four Other Departments Launch 2026 “Healthy Consumption Month”

On 10 April, the Ministry of Commerce and four other departments issued a notice announcing the organisation of the “Healthy Consumption Month” campaign. The campaign focuses on four key areas: healthy eating, fitness and exercise, the silver economy, and health services, aiming to promote the integration of commerce, tourism, culture, sports and health, as well as the coordination of online and offline activities. Key tasks include: promoting healthy eating and guiding the catering industry to reduce salt, oil and sugar; strengthening fitness and exercise, and promoting the free or low-cost opening of public sports venues; optimising elderly care services, implementing consumption subsidies for elderly care services for those with disabilities and piloting smart elderly care robots; and promoting health services, guiding retail pharmacies to launch convenient services such as health promotion, and establishing “Health Stations”.

The 139th Canton Fair Opens with Record Exhibition Scale

The 139th Canton Fair is being held in Guangzhou in three phases from 15 April to 5 May, with a total exhibition area of 1.55 million square metres, 75,700 booths, and over 32,000 participating enterprises (of which nearly 3,900 are making their debut). In line with new trends in foreign trade, the fair has added nine specialised zones, including one for smart wearables, and expanded the scale of exhibition areas such as consumer electronics; Over 11,000 high-quality enterprises, including those specialising in niche, specialised, distinctive and innovative products, took part (a 5.1% increase), with 61% of companies utilising new technologies such as industrial internet and AI; pre-registered buyers exceeded 210,000, including 290 leading purchasing enterprises (a 30% increase); and over 600 events, including new product launches and supply-demand matching activities, will be held.

Inner Mongolia Establishes China’s 23rd Pilot Free Trade Zone

On 9 April, the State Council issued the ‘Overall Plan for the China (Inner Mongolia) Pilot Free Trade Zone’. The plan grants the Inner Mongolia Pilot Free Trade Zone greater autonomy in reform, encourages pioneering initiatives, and outlines 19 reform and innovation measures, including the development of border trade and the strengthening of international logistics services.

China Introduces Policies to Strengthen Industrial and Supply Chain Security

On 7 April, the State Council promulgated the “Regulations on Industrial and Supply Chain Security”, which came into effect on the date of promulgation. This is China’s first specialised administrative regulation on industrial and supply chain security. It establishes a security investigation system and countermeasures to prevent security risks in industrial and supply chains, enhance their resilience and security levels, and safeguard economic and social stability as well as national security.

Nine Departments Issue Document to Promote Quality Improvement and Public Benefits in Service Consumption

On 3 April, the Ministry of Commerce and eight other departments jointly issued the ‘2026 Work Plan for the Action to Improve the Quality of Service Consumption and Benefit the Public’. Covering six areas—improving policy support, innovating consumption scenarios, building platforms and carriers, expanding opening-up, strengthening standard-setting, and optimising the consumption environment—the plan proposes 64 specific tasks and measures. Focusing on traditional service consumption sectors such as catering and accommodation, elderly care and childcare, cultural, entertainment and tourism, and sports and health, as well as emerging growth areas such as domestic services, online audio-visual services, inbound consumption and performance services. By applying concerted efforts on both the supply and demand sides, the plan aims to create a range of new consumption scenarios with broad reach and high visibility.

The General Office of the State Council Issues the ‘Implementation Plan for Establishing a Comprehensive Enterprise Credit Status Evaluation System’

On 2 April, the General Office of the State Council issued the ‘Implementation Plan for Establishing a Comprehensive Enterprise Credit Status Evaluation System’, aiming to accelerate the integrated application of public credit evaluation and market-based credit evaluation. It encourages business entities to provide preferential or facilitative measures to enterprises with good credit standing in market activities such as tendering and commercial transactions. The Implementation Plan proposes standardising public credit evaluation rules; in principle, data for public credit evaluation indicators should be sourced from public credit information, and evaluation results should be categorised into four levels—A, B, C and D—in descending order of merit.

Hainan Province Issues ‘Intellectual Property Compliance Guidelines for Enterprises Expanding Overseas’ to Help Businesses Mitigate Overseas Legal Risks

On 21 April, Hainan issued the ‘Intellectual Property Compliance Guidelines for Enterprises Expanding Overseas’ to help businesses mitigate overseas intellectual property risks from the outset. The guidelines cover five core modules: overseas deployment of trademarks and geographical indications, pre-export infringement screening for patent rights, trade secret management, risk prevention and control at international exhibitions, and confirmation of copyright ownership. They are accompanied by key points for basic corporate management, self-assessment checklists, a dispute response guidance platform and references to international treaties. Concurrently, leveraging the “Hainan e-Registration” system, a link to the Guidelines is automatically pushed to entrepreneurs during the business registration and annual reporting processes based on their scope of operations. This ensures full coverage of all new and existing foreign-related enterprises across the province, helping businesses shift from a “reactive” to a “proactive compliance” approach at the source.

Shanghai Launches Global Science and Technology Partnership Programme, Implementing Six Major Initiatives to Enhance Global Influence in Scientific and Technological Innovation

On 20 April, the Shanghai Municipal Government issued the “Shanghai Global Science and Technology Partnership Programme”, proposing six major initiatives: international joint research, talent exchange visits, the attraction and cultivation of international science and technology organisations, the opening up of science and technology innovation resources, the internationalisation of industrial innovation, and the optimisation of the innovation ecosystem. This aims to accelerate the development of a globally competitive, open environment for science and technology innovation, strengthen Shanghai’s role as a source of innovation and a leader in high-end industries, and enhance the global influence and leadership of Shanghai’s science and technology innovation.

Shenzhen Introduces New Policies to Boost Support for Export Credit Insurance

On 14 April, the Shenzhen Municipal Bureau of Commerce and the Shenzhen Branch of China Export & Credit Insurance Corporation jointly issued the “Notice on Increasing Support for Policy-Based Export Credit Insurance to Solidly Promote the Development of Commerce and Trade, Boost Momentum and Strengthen Resilience”. According to the notice, relevant departments will make every effort to stabilise the scale and optimise the structure of foreign trade. This includes fully leveraging the cross-cycle and counter-cyclical regulatory role of policy-based export credit insurance to help enterprises secure orders and expand markets; focusing on Shenzhen's “20+8” industrial clusters and key sectors to enhance the precision and effectiveness of national policy-based financial resources in serving enterprises; consolidating traditional competitive industries whilst cultivating and expanding new export sectors; supporting enterprises in diversifying their markets and exporting to emerging markets such as RCEP countries, ASEAN and BRICS nations; and supporting the expansion of imports of key commodities to promote trade balance. Furthermore, the Notice proposes strengthening support for small, medium and micro enterprises engaged in foreign trade, making full use of the advantages of the 2026 Shenzhen APEC Meeting, and intensifying economic and trade cooperation with countries participating in the Belt and Road Initiative.

Shenzhen Issues Measures for the Qualification Review and Certification of Tax-Exempt Equipment Imports for Foreign-Invested R&D Centres

On 14 April, the Shenzhen Investment Promotion Bureau of Guangdong Province drafted the ‘Measures for the Review and Certification of Qualifications for Duty-Free Import of Equipment by Foreign-Invested R&D Centres in Shenzhen (Draft for Public Comment)’, inviting public feedback until 15 May. Foreign-invested R&D centres eligible for this preferential policy must meet all three of the following conditions: R&D expenditure of no less than US$8 million; a full-time research and experimental development staff of no fewer than 80 persons; and the original value of equipment purchased since establishment totalling no less than 20 million yuan.

Hainan Unveils Three-Year Action Plan with 30 Key Measures to Enhance Foreign-Related Service Management

On 8 April, Hainan issued the “Hainan Province Three-Year Action Plan for Optimising Foreign-Related Services and Enhancing the International Business Environment”, proposing 30 measures across seven areas. The Plan focuses on enhancing guidance and service capabilities regarding foreign-related policies and regulations, proposing to optimise the international service capabilities of the Hainan Free Trade Port by providing one-stop services such as multilingual policy interpretation, online services and information resources; establishing a one-stop policy enquiry and interpretation platform for the Free Trade Port in both Chinese and English; improving the response mechanism for foreign-related matters via the 12345 hotline; promoting international legal services; and refining policy, institutional and procedural mechanisms for foreign-related services. In addition, the plan aims to strengthen foreign language service capabilities, improve the quality and efficiency of services for foreign-invested enterprises, and optimise services for foreign nationals in areas such as talent recruitment, employment and healthcare.

Please click the following link to see more industry trends: 中富博睿政策月刊（2026年4月刊）

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