U.S. Approved 70% of China-Related Export License Applications in 2022

What’s new: The U.S. government has approved about 69.9% of some 40,000 export license applications involving China in the 2022 fiscal year, according to written testimony ahead of a hearing before the U.S. House Foreign Affairs Committee Tuesday.

“I want to be clear that even as we pursue actions that protect U.S. national security and foreign policy interests, we are not interested in decoupling our economy from the PRC,” the document cited Alan F. Estevez, Under Secretary of Commerce for Industry and Security as saying, in his report on the work of the Department of Commerce’s Bureau of Industry and Security (BIS).