Beijing has pledged to make its financial sector more open to foreign investors. The People's Bank of China says it will allow non-Chinese companies to compete in areas including financial leasing by the end of the year.
Global trade tensions have been brewing for months with tariffs and counter-tariffs flying between the US, China and several other countries. The US government has now challenged some of the tariffs at WTO level.
US President Donald Trump has hit out again at US trading partners, indicating he is ready to impose tariffs on every product imported from China into America. Trump also ramped up attacks on the EU and Federal Reserve.
In the wake of US tariffs on steel and aluminum, the EU has made several counter moves and has now raised tariffs of its own on steel imports which exceed quotas based on current levels.
Trade frictions between the US and China are getting worse again with a fresh round of tariffs. Yet it's not just about trade, but something more fundamental, says economist Thomas Straubhaar.
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