January 2, 1981

International An expected leadership shift in China was signaled officially. Hua Guofeng did not appear at a New Year's reception given by the Communist leadership and attended by about 100 top officials, strengthening a belief that he has been forced to resign as chairman of the party. Instead, the host was Hu Yaobang, who is believed likely to replace Mr. Hua as the party's senior official. (Page A1, Column 6.) Pleas by Iranians for spy trials for the American hostages reportedly increased. Ayatollah Alemeh Nouri, a respected revolutionary clergyman, was quoted as saying that the 52 Americans were espionage agents and should be tried. Ayatollah Nouri holds no official post, but the statement reflected a problem that Iran's Parliament must overcome to resolve the issue. (A1:5.)

Four years after the passage of legislation here intended to stimulate the Canadian magazine industry, Time magazine continues to publish profitably in this country, with an advertising base that is about 80 percent Canadian. Reader's Digest, the other American publication affected by the bill, chose to develop what is in effect a separate Canadian operation. The legislation, known as Bill C-58, eliminated the tax deduction for advertising by Canadian companies in Canadian editions of foreign-owned publications, thus effectively doubling the cost of the ads. The Reader's Digest Association (Canada) Ltd., which is wholly owned by the United States parent, spun off its magazine business as Reader's Digest Magazines Ltd. in 1976. For tax purposes, it donated 75 percent of its shares to the Reader's Digest Foundation of Canada. The foundation is a charitable organization specializing in education, especially journalism education.

Modest import protection for makers of specialty steel is expected to be introduced by President Carter before he leaves office. The socalled antisurge mechanism for specialty steel imports would mainly affect Japan and the European Economic Community. An investigation of possible unfair trade practices would begin each time imports reached certain levels. (Page A1.)

His white shirtsleeves rolled to the elbows, the wiry impresario hammers home another lesson after 80 minutes of Socratic dialogue with his class about Japan's rise to dominance in worldwide motorcycle production. ''Faced with global competition,'' Michael E. Porter says, after summarizing the difficult experience of America's Harley-Davidson Motor Company, a division of AMF Inc., ''you can give up, seek protection - or focus your strategy.'' There is little uncertainty evidenced in the faces assembled in the brightly lit, red-carpeted amphitheater. This is the Harvard Business School, and there is no question among these 103 second-year students that the only answer is to focus strategy.

''Our partners have never received so many hugs and kisses from the staff,'' said Howard Silverman of Gruntal & Company, a New York Stock Exchange member firm that has been selling stocks and bonds for 100 years. Obviously, it was not an everyday event. But last month, when Gruntal's management handed out notes of appreciation to its staff, many of the envelopes also contained a bonus check for an average 12 weeks' pay. The windfall went to all salaried persons who had worked at the firm for at least two years.