The storm before the calm

As I write this, China president Hu Jintao is at the beginning of his four-day state visit to the US – the first one by a Chinese leader in 13 years. These are interesting times for both countries, the two most powerful in the world. One holds a tenuous reign as the world's foremost economic might, the other, a rapidly rising nation powered by the engine of a massive population. The coming days will reveal how President Hu and President Obama approach their countries' increasingly fragile relationship. One thing I'm sure of is that they will have to find a way to cooperate. They must. Each needs the other, especially as business and trade allies.

So as the two leaders enjoy the formal dinners, and address various political and industry groups, let's turn our focus back onto China. What a busy end of 2010 and early 2011 it's been so far! In the few weeks leading up to the New Year, there's been a flurry of new, very significant legislation promulgated and published.

Our cover story this month tackles the most noteworthy (to foreign businesses) of the bunch, the five new rules related to the Anti-monopoly Law. On page 20, Adrian Emch of Hogan Lovells cautions companies to expect more compliance work and offers a detailed analysis of the new provisions.